Loading...
•
Sep 30, 2023
Astec Q3 2023 Earnings Report
Astec's Q3 2023 performance was affected by a litigation loss contingency, despite solid operating performance and increased gross margin.
Key Takeaways
Astec Industries reported a decrease in net sales by 3.8% to $303.1 million. The company experienced a diluted EPS of $(0.29) compared to $0.03, and an adjusted EPS of $(0.01) compared to $0.28, impacted by a $6.4 million litigation loss contingency. Despite these challenges, the gross margin increased by 220 basis points to 23.0%. The backlog was $614.7 million as of September 30, 2023.
Net sales decreased by 3.8% to $303.1 million.
Gross margin increased by 220 basis points to 23.0%.
Diluted EPS was $(0.29) compared to $0.03, impacted by a litigation loss.
Backlog normalized to $614.7 million.
Revenue by Segment
Forward Guidance
No specific forward guidance was provided in the press release.
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
Loading earnings performance data...
Loading earnings reaction data...