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Pro-Trader Daily: Earnings Review and Free Research Report: Astec Industries' Quarterly Sales Grew on a Y-O-Y Basis

Research Desk Line-up: CNH Industrial Post Earnings Coverage

LONDON, UK / ACCESSWIRE / November 10, 2017 / Pro-Trader Daily has just published a free post-earnings coverage on Astec Industries, Inc. (NASDAQ: ASTE), which can be viewed by registering at http://protraderdaily.com/optin/'symbol=ASTE, following the Company's disclosure of its third quarter fiscal 2017 operating results on October 24, 2017. The maker of equipment for building, paving, and mining reported 1 16% growth in international sales, and met its earnings estimates. Our daily stock reports are accessible for free, and with those to look forward today you also will be signing up for a complimentary member's account at:

http://protraderdaily.com/register/

Get more of our free earnings reports coverage from other constituents of the Farm & Construction Machinery industry. Pro-TD has currently selected CNH Industrial N.V. (NYSE: CNHI) for due-diligence and potential coverage as the Company announced on October 31, 2017, its financial results for Q3 2017. Register for a free membership today, and be among the early birds that get access to our report on CNH Industrial when we publish it.

At Pro-TD, we make it our mission to bring you news that matter about the stock you follow. Today, our research desk covers a blog story on ASTE; also brushing on CNHI. With the links below you can directly download the report of your stock of interest free of charge at:

http://protraderdaily.com/optin/'symbol=ASTE

http://protraderdaily.com/optin/'symbol=CNHI

Earnings Reviewed

For the third quarter ended September 30, 2017, Astec's net sales totaled $252.1 million, up 1.7% compared to net sales of $247.8 million for Q3 2016. The Company's revenue numbers missed analysts' expectations of $262.3 million.

On October 02, 2017, Astec announced that it initiated significant design upgrades to its customers' Georgia and Arkansas wood pellet plants to meet full production rates. Without the impact of all pellet plant activity during the reported quarter, Astec's net sales were $265.5 million for Q3 2017 and $228.6 million for Q3 2016, reflecting an increase of 16.1% in its core business.

Astec's net loss was $2.7 million, or $0.12 per share, for Q3 2017 compared to earnings of $6.8 million, or $0.30 per diluted share, for Q3 2016. The Company's pellet plant upgrades impacted earnings per share by approximately $0.59 during the reported quarter. Astec's reported net loss was in-line with Wall Street's expectations for a loss of $0.12 per share.

Segment Results

During Q3 2017, Astec's Domestic sales grew 1.7% to $196.5 million compared to sales of $199.9 million for Q3 2016. Without the impact of the charge for the new pellet investment, domestic sales were $210.7 million for the reported quarter.

Astec's International sales were $55.6 million for Q3 2017 compared to $47.9 million for Q3 2016, reflecting an increase of 16.0%. The Company's International sales represented 22% of sales in the reported quarter compared to 19.3% in the year-ago corresponding period.

Backlog

As of September 30, 2017, Astec's backlog stood at $385.5 million compared to $389.3 million at September 30, 2016, reflecting a decrease of 1.0%. The Company's Domestic backlog decreased 4.9% to $309.5 million at September 30, 2017, from $325.6 million at September 30, 2016, while international backlog surged 19.3% to $76.0 million at September 30, 2017, compared with backlog of $63.7 million at September 30, 2016. Excluding pellet plant backlogs, the Company's September 30, 2017, backlog increased $61.1 million, or 24.8%, compared to September 30, 2016.

Cash Matters

At the end of Q3 2017, Astec had receivables of $109.7 million compared to $111.8 million at the end of Q3 2016. The Company's days outstanding were 38.9 at September 30, 2017, compared to 40.9 at September 30, 2016. Astec's inventory at the end of the reported quarter was $399.3 million, compared to $399.7 million at the end of the year-earlier quarter.

Astec does not have any liability on its $100 million domestic credit facility and as on September 30, 2017, the Company had 68 million in cash and investments. Astec's Letters of credit outstanding totaled $8.6 million at September 30, 2017, yielding a borrowing availability of $91.4 million on the Company's credit line.

Stock Performance

At the closing bell, on Thursday, November 09, 2017, Astec Industries' stock was marginally down 0.06%, ending the trading session at $51.38. A total volume of 183.41 thousand shares have exchanged hands, which was higher than the 3-month average volume of 138.03 thousand shares. The Company's stock price rallied 9.48% in the last three months. The stock is trading at a PE ratio of 30.33 and has a dividend yield of 0.78%. The stock currently has a market cap of $1.18 billion.

Pro-Trader Daily:

Pro-Trader Daily (Pro-TD) produces regular sponsored and non-sponsored reports, articles, stock market blogs, and popular investment newsletters covering equities listed on NYSE and NASDAQ and Canadian stocks. PRO-TD has two distinct and independent departments. One department produces non-sponsored analyst certified content generally in the form of press releases, articles and reports covering equities listed on NYSE and NASDAQ and the other produces sponsored content (in most cases not reviewed by a registered analyst), which typically consists of compensated investment newsletters, articles, and reports covering listed stocks and micro-caps. Such sponsored content is outside the scope of procedures detailed below.

PRO-TD has not been compensated; directly or indirectly; for producing or publishing this document.

PRESS RELEASE PROCEDURES:

The non-sponsored content contained herein has been prepared by a writer (the "Author") and is fact checked and reviewed by a third party research service company (the "Reviewer") represented by a credentialed financial analyst [for further information on analyst credentials, please email contact@protraderdaily.com. Rohit Tuli, a CFA® charter-holder (the "Sponsor"), provides necessary guidance in preparing the document templates. The Reviewer has reviewed and revised the content, as necessary, based on publicly available information which is believed to be reliable. Content is researched, written and reviewed on a reasonable effort basis. The Reviewer has not performed any independent investigations or forensic audits to validate the information herein. The Reviewer has only independently reviewed the information provided by the Author according to the procedures outlined by PRO-TD. PRO-TD is not entitled to veto or interfere in the application of such procedures by the third-party research service company to the articles, documents or reports, as the case may be. Unless otherwise noted, any content outside of this document has no association with the Author or the Reviewer in any way.

NO WARRANTY

PRO-TD, the Author, and the Reviewer are not responsible for any error which may be occasioned at the time of printing of this document or any error, mistake or shortcoming. No liability is accepted whatsoever for any direct, indirect or consequential loss arising from the use of this document. PRO-TD, the Author, and the Reviewer expressly disclaim any fiduciary responsibility or liability for any consequences, financial or otherwise arising from any reliance placed on the information in this document. Additionally, PRO-TD, the Author, and the Reviewer do not (1) guarantee the accuracy, timeliness, completeness or correct sequencing of the information, or (2) warrant any results from use of the information. The included information is subject to change without notice.

NOT AN OFFERING

This document is not intended as an offering, recommendation, or a solicitation of an offer to buy or sell the securities mentioned or discussed, and is to be used for informational purposes only. Please read all associated disclosures and disclaimers in full before investing. Neither PRO-TD nor any party affiliated with us is a registered investment adviser or broker-dealer with any agency or in any jurisdiction whatsoever. To download our report(s), read our disclosures, or for more information, visit http://protraderdaily.com/disclaimer/.

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SOURCE: Pro-Trader Daily

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