Astec reports Q2 adjusted EPS 61c vs 87c last year

Reports Q2 revenue $345.5M vs $350M last year.”We are pleased with the trajectory of our second quarter performance, specifically, the overall 5.9% increase in implied orders in spite of difficult market conditions for our Materials Solutions segment. Our Infrastructure Solutions segment not only experienced an 11.0% increase in sales during the quarter, but also saw a robust increase in implied orders, due to high demand across the construction industry, especially for asphalt and concrete plants. Our Materials Solutions segment experienced a decline in sales, driven by continued finance capacity constraints with contractors and dealers and longer product conversions, but saw positive movement in implied orders,” said Jaco van der Merwe, Chief Executive Officer. “We anticipate market dynamics to improve across both groups in the latter half of the year and anticipate benefits from our transformation programs in future operating results.”