Astec Industries Reveals 21% Retreat In Q2 Profit

(RTTNews) - Astec Industries (ASTE) reported earnings for second quarter that declined compared to the same period last year.

The company said its bottom line dropped to $14.42 million, or $0.62 per share. This was down from $18.19 million, or $0.79 per share, in last year's second quarter.

Analysts had expected the company to earn $0.8 per share, according figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company said revenue for the quarter rose 2.6% to $301.91 million. This was up from $294.39 million last year.

Astec Industries earnings at a glance:

-Earnings (Q2): $14.42 Mln. vs. $18.19 Mln. last year. -Earnings Decline (Y-o-Y): -20.7% -EPS (Q2): $0.62 vs. $0.79 last year. -EPS Decline (Y-o-Y): -21.5% -Analysts Estimate: $0.8 -Revenue (Q2): $301.91 Mln vs. $294.39 Mln last year. -Revenue Change (Y-o-Y): 2.6%