Roadtec RP-195e paverAsphalt plant manufacturer and Roadtec parent company Astec Industries has reported net sales of $294.4 million for the second quarter this year, a 9.9 percent increase compared to the same time period last year.
Earnings increased 35.2 percent from $11.8 million in 2Q 2015 to $18.2 million this year. Domestic sales increased 24.5 percent to $243.3 million for the quarter, and the company’s backlog for the first half of the year has increased 58 percent to $364.5 million compared to last year.
“We were pleased with our results for the second quarter. As our sales and backlog reflect, our domestic business remained strong during the quarter,” says CEO Benjamin G. Brock. He added the primary reason was demand resulting from passage of the Fixing America’s Surface Transportation (FAST) Act last year, in addition to “continuing good private sector activity.”
Brock says international sales, which dropped 28.9 percent year-over-year to $52.2 million, are challenged by the strength of the U.S. dollar, and the company’s Aggregate and Mining Group is negatively affected by the global mining slowdown. Astec’s Energy Group equipment sales also are taking a hit due to low oil and natural gas prices.
