Astec Industries: Q2 Earnings Snapshot

CHATTANOOGA, Tenn. (AP) — CHATTANOOGA, Tenn. (AP) — Astec Industries Inc. (ASTE) on Wednesday reported second-quarter net income of $13.1 million, after reporting a loss in the same period a year earlier.

On a per-share basis, the Chattanooga, Tennessee-based company said it had profit of 58 cents. Earnings, adjusted for non-recurring costs, were 87 cents per share.

The results topped Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 59 cents per share.

The maker of equipment for building, paving and mining posted revenue of $350 million in the period, also surpassing Street forecasts. Three analysts surveyed by Zacks expected $348.1 million.

Astec Industries shares have increased 26% since the beginning of the year. The stock has risen nearly 5% in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on ASTE at https://www.zacks.com/ap/ASTE