Astec Industries, Inc. Reports Earnings Results for the First Quarter Ended March 31, 2024
May 01, 2024 at 07:02 am EDT
Share
Astec Industries, Inc. reported earnings results for the first quarter ended March 31, 2024. For the first quarter, the company reported sales was USD 309.2 million compared to USD 347.9 million a year ago. Net income was USD 3.4 million compared to USD 12.1 million a year ago.
Basic earnings per share from continuing operations was USD 0.15 compared to USD 0.53 a year ago. Diluted earnings per share from continuing operations was USD 0.15 compared to USD 0.53 a year ago.
Astec Industries, Inc. designs, engineers, manufactures, markets, and equipment and components used primarily in asphalt and concrete road building and related construction activities. Its Infrastructure Solutions segment designs, engineers, manufactures and markets a complete line of asphalt and concrete plants, components and ancillary equipment, and asphalt road construction equipment, industrial thermal systems, land clearing, recycling and other heavy equipment. Its Materials Solutions segment designs and manufactures heavy rock processing equipment, in addition to servicing and supplying parts for the aggregate, mining, recycling, ports and bulk handling markets. The Company's products are marketed both domestically and internationally primarily to asphalt producers; highway and heavy equipment contractors; utility contractors; sand and gravel producers; construction, demolition, recycle and crushing contractors; forestry and environmental recycling contractors, and others.