01:53 PM EDT, 05/01/2024 (MT Newswires) -- Astec Industries ( ASTE ) shares were down 19% in recent trading Wednesday, after the company reported lower Q1 adjusted earnings and net sales that were also short of consensus.

The company reported Q1 adjusted earnings earlier in the day of $0.34 per share, down from $0.90 a year earlier.

Three analysts polled by Capital IQ estimated $0.81.

Net sales for the quarter ended March 31 were $309.2 million, down from $347.9 million a year earlier.

Three analysts surveyed by Capital IQ expected $343.3 million.

Price: 33.68, Change: -8.12, Percent Change: -19.43