Astec Industries (ASTE) Tops Q2 EPS by 62c
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Astec Reports Second Quarter 2020 Results
August 5, 2020 7:00 AM EDTSecond Quarter 2020 Highlights (all comparisons are made to the prior year second quarter):
Net Sales decreased 13.0% to $265.3M; Adjusted Net Sales decreased just 6.8% due to $20.0M included in 2019 sale of a wood pellet plantGross margin of 22.5% decreased 480 bps; Adjusted Gross margin increased 100 bpsEPS of $0.41 compared to $1.03 a year ago; adjusted EPS of $0.67 increased 81.1% EBITDA decreased 53.2% to $17.4M; adjusted EBITDA of $25.3M increased 46.9% from $17.2M a year ago; adjusted EBITDA margin of 9.5% increased 350 bpsAnnounced the closure of our Mequon, Wisconsin... More