Astec Industries misses 4Q profit forecasts
CHATTANOOGA, Tenn. (AP) — Astec Industries Inc. on Tuesday reported fourth-quarter net income of $12.4 million.
The Chattanooga, Tennessee-based company said it had profit of 53 cents per share.
The results missed Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 54 cents per share.
The maker of equipment for building, paving and mining posted revenue of $326.6 million in the period, exceeding Street forecasts. Five analysts surveyed by Zacks expected $269 million.
For the year, the company reported profit of $55.2 million, or $2.38 per share. Revenue was reported as $1.15 billion.
Astec Industries shares have climbed slightly more than 4 percent since the beginning of the year. The stock has risen 87 percent in the last 12 months.
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
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