Astec Industries, Inc. Reports Earnings Results for the Second Quarter and Six Months Ended June 30, 2023
August 02, 2023 at 07:03 am EDT
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Astec Industries, Inc. reported earnings results for the second quarter and six months ended June 30, 2023. For the second quarter, the company reported sales was USD 350 million compared to USD 318.2 million a year ago. Net income was USD 13.1 million compared to net loss of USD 3.9 million a year ago. Basic earnings per share from continuing operations was USD 0.58 compared to basic loss per share from continuing operations of USD 0.17 a year ago. Diluted earnings per share from continuing operations was USD 0.58 compared to diluted loss per share from continuing operations of USD 0.17 a year ago.
For the six months, sales was USD 697.9 million compared to USD 609.4 million a year ago. Net income was USD 25.2 million compared to USD 0.2 million a year ago. Basic earnings per share from continuing operations was USD 1.11 compared to USD 0.01 a year ago. Diluted earnings per share from continuing operations was USD 1.11 compared to USD 0.01 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.
ASTEC INDUSTRIES, INC. 
