Astec Industries falls after Q2 profit misses estimate
ASTE•Quarterly results
- Posts Q2 adjusted EPS of 94 cents, below analysts' average estimate of $1.03, according to data compiled by LSEG.
- Q2 revenue jumps 23.6% year-on-year to $408.1 million versus estimate of $405.5 million.
- Material Solutions revenue soars 43% to $179.8 million.
- Including the session's move, shares are up 4% year to date.
Shares fall after profit miss
Astec Industries ASTE.O shares slump over 14% to $44.78 in early trading.
The U.S. road-building equipment maker misses Q2 adjusted profit estimates as some customers delayed taking delivery of asphalt mixing equipment due to macroeconomic uncertainties.
