Astec Q3 Profit Falls, Misses Estimates - Quick Facts

(RTTNews) - Astec Industries, Inc. (ASTE) Tuesday reported a decrease in its third-quarter profit, hurt by lower volumes and pricing pressures in the infrastructure business. Earnings also missed the Street view.

Net profit was $1.92 million or $0.08 per share, down from $6.51 million or $0.28 per share last year.

On average, ten analysts polled by Thomson-Reuters estimated earnings to be $0.42. Analysts' estimates typically exclude one-time items.

Net sales increased 3 percent to $220.16 million from $213.18 million in the previous year. Analysts expected quarterly sales of $234.63 million.

The company was not able to recognize the revenue related to its new $60 million pellet plant, affecting the Infrastructure Group's operating results.