Astec Industries Q2 sales slightly beat estimates, lowers guidance
ASTE•Result drivers
- Materials Solutions demand — Co said resurgence in dealer and customer demand for aggregate crushing, screening and conveying equipment drove 43% sales growth in Materials Solutions segment
- Infrastructure Solutions shipment timing — Co said macro-driven events impacted shipment timing for asphalt plants, affecting order activity and prompting guidance revision
- Dealer inventory and rental conversions — Co said dealers reported healthy inventory levels and rental conversions, supporting segment performance
Quarterly results
- U.S. road-building equipment maker's Q2 net sales rose 24%, slightly beating analyst expectations
- Adjusted EPS for Q2 missed analyst expectations despite rising 4% yr/yr
- Company lowered full-year adjusted EBITDA guidance due to shipment timing for asphalt plants
| Metric | Beat/Miss | Actual | Consensus Estimate |
|---|---|---|---|
| Q2 Sales | Slight Beat* | $408.10 mln | $405.50 mln (4 Analysts) |
| Q2 Adjusted EPS | Miss | $0.94 | $1.04 (4 Analysts) |
| Q2 EPS | $0.45 | ||
| Q2 Adjusted EBITDA | $42.60 mln |
*Applies to a deviation of less than 1%; not applicable for per-share numbers.
