Astec Industries, Inc. ASTE reported second-quarter 2021 adjusted earnings per share of 49 cents, which matched the Zacks Consensus Estimate. The bottom line declined 27% from the prior-year quarter. Despite higher year-over-year revenues in the quarter, the company witnessed a decline in its bottom line due to cost inflation and its centralization, and infrastructure efforts, which was partially offset by manufacturing efficiencies.Including one-time items, the company reported earnings per share of 39 cents in the quarter under review compared with 41 cents in the year-ago quarter.Revenues & BacklogAstec’s revenues of $278 million in the quarter were up 5% from the year-ago quarter driven by contributions from acquisitions. However, the top line missed the Zacks Consensus Estimate of $311 million. Domestic sales were down 9.2% year over year due to lower volumes. International sales surged 75.7% in the quarter courtesy of increased activity in Europe, Canada, Mexico and Australia.Astec Industries, Inc. Price, Consensus and EPS Surprise Astec Industries, Inc. price-consensus-eps-surprise-chart | Astec Industries, Inc. QuoteAt second quarter 2021-end, the company’s total backlog was a record $436.1 million, reflecting a significant improvement of 140% year over year. Domestic backlog soared 164% year over year to $338.8 million, while international backlog increased 81.5% to $97.3 million.Operating PerformanceAdjusted cost of sales went up 3.5% year over year to $211 million in the second quarter. Adjusted gross profit was $67 million, up 9% from the figure of $61.5 in the year-ago quarter. Adjusted gross margin expanded 90 basis points to 24.1% from the year-ago quarter.Selling, general, administrative and engineering (SG&A) increased 29% year over year to around $55 million. Adjusted operating profit for the quarter under review was $14.1 million, which marked a decline of 25% from the prior-year quarter.Adjusted operating margin was 5.1% compared with 7.1% in the prior-year quarter. The 200 basis point contraction stemmed from higher costs, and the company’s centralization and infrastructure efforts. This was somewhat offset by manufacturing efficiencies.Adjusted EBITDA was $21.7 million in the reported quarter, down 14% from the year-ago quarter. Adjusted EBITDA margin was 7.8%, reflecting a 170 basis point contraction from the prior-year quarter.Segment PerformanceRevenues for the Infrastructure Solutions segment were down 1% to $180 million from the year-ago quarter. The segment’s adjusted gross profit was around $40 million, down 1.5% from the prior-year quarter.Materials Solutions segment’s total revenues increased 17% year over year to $98 million. The segment’s adjusted gross profit was $27.4 million, reflecting a year-over-year increase of 29%.Financial PositionAstec’s cash and cash equivalents improved to $174.5 million as of Jun 30, 2021 from $158.6 million as of Dec 31, 2020. As of the second quarter end, the company’s total debt was $0.4 million, flat compared with as of Dec 31, 2020.So far, the company has been witnessing a ramp up in demand as evident from its record backlog. Steel prices have been trending higher so far this year, and are expected to remain so for the balance of the year. A tight labor market and supply chain headwinds remain concerns. These factors will impact the company’s margins this year.Share Price PerformanceImage Source: Zacks Investment ResearchAstec’s shares have gained 14.7% in the past year, compared with the industry‘s rally of 56.4%.Zacks Rank & Stocks to ConsiderAstec currently carries a Zacks Rank #5 (Strong Sell).Some better-ranked stocks in the Industrial Products sector are Mueller Industries, Inc. MLI, Greif, Inc. GEF and Encore Wire Corporation WIRE. All of these stocks sport a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.Mueller Industries has an estimated earnings growth rate of 154% for the ongoing year. The company’s shares have rallied 44% in the past year.Greif has an expected earnings growth rate of 47% for 2021. Over the past year, the stock has climbed 63%.Encore Wire has an estimated earnings growth rate of 333% for the ongoing year. The company’s shares have appreciated 56% in the past year. 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(MLI): Free Stock Analysis Report Encore Wire Corporation (WIRE): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research