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CHATTANOOGA, Tenn. (AP) — CHATTANOOGA, Tenn. (AP) — Astec Industries Inc. (ASTE) on Wednesday reported first-quarter profit of $12.1 million.
The Chattanooga, Tennessee-based company said it had profit of 53 cents per share. Earnings, adjusted for one-time gains and costs, came to 90 cents per share.
The results beat Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 59 cents per share.
The maker of equipment for building, paving and mining posted revenue of $347.9 million in the period, which also topped Street forecasts. Three analysts surveyed by Zacks expected $336.3 million.
Astec Industries shares have increased slightly more than 2% since the beginning of the year. The stock has risen 4% in the last 12 months.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a ASTE">Zacks stock report on ASTE at https://www.zacks.com/ap/ASTE