Astec Industries Q1 Adj. EBITDA Declines; Net Sales Down 11.3%

(RTTNews) - Astec Industries, Inc. (ASTE) reported that its first quarter adjusted EPS of $1.00, increased 53.8% compared to $0.65 from last year; inclusive of $0.42 benefit to EPS attributed to the CARES Act. On average, four analysts polled by Thomson Reuters expected the company to report profit per share of $0.38, for the quarter. Analysts' estimates typically exclude special items. Adjusted EBITDA was $24.3 million, down 4.7% from $25.5 million prior year.

First quarter net sales were $288.8 million, down 11.3% compared to $325.8 million, prior year. Excluding the impact of foreign currency, net sales decreased 10.5%. Analysts expected revenue of $291.45 million for the quarter.