Astec Industries: Q4 Earnings Snapshot

CHATTANOOGA, Tenn. (AP) — CHATTANOOGA, Tenn. (AP) — Astec Industries Inc. (ASTE) on Wednesday reported fourth-quarter net income of $14.9 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 65 cents. Earnings, adjusted for non-recurring costs, came to 90 cents per share.

The results exceeded Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 62 cents per share.

The maker of equipment for building, paving and mining posted revenue of $337.2 million in the period, which did not meet Street forecasts. Three analysts surveyed by Zacks expected $353.1 million.

For the year, the company reported net income of $33.5 million, or $1.47 per share, swinging to a profit in the period. Revenue was reported as $1.34 billion.

Astec Industries shares have fallen slightly more than 2% since the beginning of the year. The stock has declined 19% 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