Astec Industries Q1 2024 Adj EPS $0.34 Misses $0.81 Estimate, Sales $309.200M Miss $343.268M Estimate
Portfolio Pulse from Benzinga Newsdesk
Astec Industries (NASDAQ:ASTE) reported Q1 2024 adjusted EPS of $0.34, missing the $0.81 estimate, and sales of $309.2M, below the $343.268M estimate. This represents a significant decrease in both earnings and sales compared to the same period last year.
May 01, 2024 | 11:01 am
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Astec Industries reported a significant miss in Q1 2024 earnings and sales, with adjusted EPS at $0.34 vs. the $0.81 estimate and sales at $309.2M vs. the $343.268M estimate.
The significant miss in both earnings per share and sales compared to analyst estimates and the previous year's performance is likely to negatively impact investor sentiment and the stock price in the short term. The magnitude of the miss in earnings (58.02%) and the decrease in sales (11.12% from the previous year) highlight operational challenges that could concern investors.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100