Equipment Type

Astec Q3 Sales Down 4 Percent

Astec Industries reported net sales of $211.4 million for the third quarter of 2015, down 4 percent from the $220.2 million reported for the third quarter of 2014.

October 21, 2015

Astec Industries reported net sales of $211.4 million for the third quarter of 2015, down 4 percent from the $220.2 million reported for the third quarter of 2014. Earnings for the third quarter were up 25 percent to $2.3 million compared to $1.9 million in 2014.

“We were pleased to improve our earnings by 25 percent in the third quarter versus the third quarter of last year, especially given the current headwinds we are facing, including low oil prices, the global mining slow down, the strong U.S. dollar, and the absence of a long-term highway bill in the United States,” said Benjamin G. Brock, president/CEOfficer.

 “Low oil prices have hurt our Energy Group sales. The mining slowdown has hurt our Aggregate and Mining Group sales. The strong U.S. dollar has hurt our international sales and the lack of a long-term highway bill has hurt all of our groups.”

Domestic sales increased 10 percent to $156.3 million for the third quarter of 2015 compared to $142.6 million for the third quarter of 2014. International sales decreased 29 percent to $55.1 million for the third quarter of 2015 compared to $77.6 million for the third quarter of 2014.

Net sales for the first nine months of 2015 were $768.1 million compared to $736.1 million for the first nine months of 2014, a 4 percent increase. Earnings for the first nine months of 2015 were $29.2 million or $1.26 per diluted share compared to $26.0 million or $1.12 per diluted share in the first nine months of 2014, a 12 percent increase.

Domestic sales increased 12 percent to $562.0 million for the first nine months of 2015 compared to $502.7 million for the first nine months of 2014. International sales were $206.1 million for the first nine months of 2015 compared to $233.4 million for the first nine months of 2014, a 12 percent decrease.

Domestic backlog decreased 1 percent, from $189.2 million at September 30, 2014 to $187.5 million at September 30, 2015. The international backlog at September 30, 2015 was $58.1 million compared to $105.8 million at September 30, 2014 for a decrease of 45 percent. Total backlog decreased 17 percent to $245.6 million at September 30, 2015 from $295.0 million at September 30, 2014.

Source: Astec

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