Astec Q2 Backlog $688.8M, -17.7% Y.Y
Portfolio Pulse from Benzinga Newsdesk
Astec Industries, Inc. (ASTE) reported a Q2 backlog of $688.8 million, marking a decrease of 17.7% year over year.
August 04, 2023 | 10:56 am
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Astec Industries' Q2 backlog has decreased by 17.7% compared to the same period last year, indicating a potential slowdown in future revenues.
Backlog is an important indicator of future revenues and earnings. A decrease in backlog could suggest a slowdown in demand for Astec's products, which could negatively impact future revenues and earnings, and consequently, the stock price.
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