Astec Industries Q2 Profit Matches Estimates, Revenues Beat - Quick Facts

By RTT News, 
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(RTTNews.com) - Astec Industries, Inc. ( ASTE ), an equipment maker for the construction and mining industries, Tuesday reported a rise in second-quarter earnings on the back of growth in revenues. Earnings came in line with analysts' estimates, while revenues surpassed them.

The company, however, said it was cautious about near-term prospects, particularly in relation to infrastructure spending.

For the three months to June, net earnings advanced to $14.5 million or $0.63 per share, from $11.1 million or $0.48 per share a year ago.

On average, ten analysts polled by Thomson-Reuters estimated the company's earnings to be $0.63 for the quarter. Analysts' estimates typically exclude one-time items.

Quarterly net sales rose by 12 percent to $277.3 million, from $248.1 million last year, above the $264.26 million that Wall Street expected.

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This article appears in: Earnings

Referenced Stocks: ASTE , TRI

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