India, Nov. 5 -- Astec Industries, Inc. (ASTE), a manufacturer of equipment for road building, aggregate processing and concrete production, on Thursday reported a wider loss for the third quarter. The company lowered its full-year adjusted EBITDA outlook, citing softer-than-expected demand and macroeconomic uncertainty, despite a sharp increase in backlog.
Net loss widened to $12.2 million, or $0.53 per share, from $4.2 million, or $0.18 per share, in the prior-year quarter. Adjusted net loss was $0.3 million, compared with adjusted net income of $10.8 million a year earlier. Adjusted earnings per share were a loss of $0.01, versus earnings of $0.47 per share.
Net sales edged up 0.7% to $352.4 million from $350.1 million. Infrastructure ...