Astec Industries Turns To Profit In Q4

(RTTNews) - Astec Industries Inc. (ASTE) reported that its net income for the fourth quarter was $15.4 million or $0.67 per share compared to a net loss of $18.4 million or $0.81 per share in the previous year.

Excluding restructuring and other net charges, adjusted net income was $12.8 million increased 56.1% compared to the prior year period, while Adjusted earnings per share of $0.56 increased 55.6% compared to $0.36 for fourth quarter of 2019.

Quarterly net sales were $238.9 million down 15.6% from $283.2 million last year. Domestic sales decreased $29.3 million or 14.0% and international sales decreased $15.0 million or 20.4% due mainly to COVID-19 related business disruptions in the fourth quarter versus last year.

Analysts polled by Thomson Reuters expected the company to report earnings of $0.42 per share and revenues of $271.12 million for the fourth-quarter. Analysts' estimates typically exclude special items.