CHATTANOOGA, Tenn., April 07, 2025 (GLOBE NEWSWIRE) -- You are invited by Astec Industries, Inc. (NASDAQ:ASTE) to participate in a conference call to review the company’s first quarter 2025 financial results. Astec Industries, Inc. will be releasing the company’s first quarter results to the wire service on Tuesday, April 29, 2025, at approximately 7:00 a.m. Eastern Time. The live call will begin on Tuesday, April 29, 2025, at 8:30 a.m. Eastern Time. Jaco van der Merwe, President and Chief Executive Officer ...

Core Viewpoint - Astec Industries, Inc. is set to release its first quarter 2025 financial results on April 29, 2025, and will host a conference call to discuss these results [1][2]. Group 1: Conference Call Details - The conference call will be hosted by Jaco van der Merwe (President and CEO), Brian Harris (CFO), and Steve Anderson (Senior VP of Administration and Investor Relations) [2]. - Participants can access the call by dialing (888) 440-4118 or +1 (646) 960-0833 for international callers, at least 10 minutes prior to the scheduled time [2]. - A live webcast will also be available, and an archived version will be accessible for ninety days post-call [2][3]. Group 2: Company Overview - Astec Industries, Inc. specializes in manufacturing equipment for asphalt road building, aggregate processing, and concrete production [4]. - The company operates in two primary business segments: Infrastructure Solutions and Materials Solutions [4].

CHATTANOOGA, Tenn., March 10, 2025 (GLOBE NEWSWIRE) -- Astec Industries, Inc. (Nasdaq: ASTE) announced today it will participate in the Sidoti Small Cap Virtual Conference on Wednesday, March 19, 2025. Jaco van der Merwe, President and Chief Executive Officer, Brian Harris, Chief Financial Officer and Stephen C. Anderson, Senior Vice President of Investor Relations will present at the conference and participate in 1x1 meetings. The meetings will be held in a virtual-only format. The ASTEC presentation will ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2024 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _____ to _____ Commission File Number: 001-11595 Astec Industries, Inc. (Exact name of registrant as specified in its charter) Tennessee 62-0873631 State or other ...

Astec Industries, Inc. (NASDAQ:ASTE) Q4 2024 Earnings Conference Call February 26, 2025 8:30 AM ET Company Participants Steve Anderson - Senior Vice President of Administration, Investor Relations Jaco van der Merwe - President & Chief Executive Officer Brian Harris - Chief Financial Officer Conference Call Participants Brian Sponheimer - Gabelli Asset Management Operator Hello and welcome to the Astec Industries Fourth Quarter and Full Year 2024 Earnings Call. As a reminder, this conference call is being r ...

Fourth Quarter and Full Year Earnings February 26, 2025 B U I L T T O C O N N E C T Safe Harbor Certain statements contained in this presentation contain forward-looking statements within the meaning of the Securities Act of 1933, as amended, the Securities Exchange Act of 1934, as amended, and the Private Securities Litigation Reform Act of 1995. Such statements relate to, among other things, income, earnings, cash flows, changes in operations, operating improvements, businesses in which we operate and the ...

Financial Performance - Record net sales of $359.0 million, an increase of 6.5% compared to $337.2 million in Q4 2023[4] - Strong net income of $21.1 million, up 41.6% from $14.9 million in Q4 2023; adjusted net income of $27.2 million, a 32.0% increase[4] - EBITDA of $40.0 million, a 57.5% increase from $25.4 million in Q4 2023; record adjusted EBITDA of $47.9 million, up 46.9%[4] - Diluted EPS of $0.92, a 41.5% increase from $0.65 in Q4 2023; record adjusted EPS of $1.19, up 32.2%[4] - Gross profit for Q4 2024 was $102.9 million, compared to $89.1 million in Q4 2023, reflecting a significant improvement in profitability[22] - Income from operations for Q4 2024 was $34.8 million, compared to $18.9 million in Q4 2023, with adjusted income from operations rising to $42.8 million from $26.3 million[43] - Adjusted operating margin improved to 11.9% in Q4 2024 from 7.8% in Q4 2023, reflecting operational efficiency gains[43] Segment Performance - Infrastructure Solutions segment net sales of $248.8 million increased by 11.9% due to strong demand for asphalt and concrete plants[13] - Materials Solutions segment net sales of $110.2 million decreased by 4.1% primarily due to lower domestic equipment sales[13] - Infrastructure Solutions segment net sales increased by 11.9% to $248.8 million, while Materials Solutions segment sales decreased by 4.1% to $110.2 million[26] - The Infrastructure Solutions segment's operating adjusted EBITDA margin improved to 14.5% in 2024 from 12.8% in 2023[30] Cash Flow and Liquidity - Operating cash flow of $36.6 million and free cash flow of $32.1 million in Q4 2024[4] - Total liquidity of $228.1 million, consisting of $88.3 million in cash and cash equivalents and $139.8 million available for additional borrowings[13] - Cash, cash equivalents, and restricted cash increased to $90.8 million as of December 31, 2024, compared to $63.2 million at the end of 2023[32] - The company reported a net cash provided by operating activities of $23.0 million for the year ended December 31, 2024, down from $27.8 million in 2023[36] - Free cash flow for Q4 2024 was $32.1 million, down from $37.5 million in Q4 2023, while net cash provided by operating activities decreased to $36.6 million from $46.6 million[52] Debt and Backlog - Long-term debt rose to $105.0 million in 2024 from $72.0 million in 2023, indicating increased leverage[32] - Backlog decreased by 26.4% to $419.6 million compared to $569.8 million in Q4 2023[4] Future Outlook - For full year 2025, the company expects adjusted EBITDA in the range of $105 million to $125 million[4] Transformation and Restructuring - Transformation program costs for 2024 totaled $33.5 million, up from $29.7 million in 2023, indicating ongoing investment in strategic initiatives[43] - The company is focused on restructuring efforts, with related charges of $9.5 million in 2024, compared to $7.7 million in 2023, aimed at simplifying operations[43] - Goodwill impairment charges of $20.2 million were recorded in 2024, reflecting challenges in the Materials Solutions reporting unit[43] Yearly Performance - For the year ended December 31, 2024, net sales were $1,305.1 million, a decline of 2.5% from $1,338.2 million in 2023[30] - Net sales for Q4 2024 were $359.0 million, an increase from $337.2 million in Q4 2023, while total net sales for the year decreased to $1,305.1 million from $1,338.2 million[43] - Total operating expenses decreased to $68.1 million in Q4 2024 from $70.2 million in Q4 2023, contributing to improved operating income[22]

Core Points - Astec Industries, Inc. will hold a conference call to discuss its fourth quarter and full year 2024 financial results on February 26, 2025 [1] - The call will be hosted by key executives including the President and CEO, CFO, and Senior VP of Administration and Investor Relations [2] - A replay of the call will be available until March 12, 2025, and a transcript will be provided within 5 business days after the call [3] Company Overview - Astec is a manufacturer specializing in equipment for asphalt road building, aggregate processing, and concrete production [4] - The company's operations are divided into two main segments: Infrastructure Solutions and Materials Solutions [4]

Financial Performance - Net sales for Q3 2024 were $291.4 million, a decrease of 3.9% compared to $303.1 million in Q3 2023[94]. - Gross profit for Q3 2024 was $66.8 million, representing 22.9% of net sales, down from $69.6 million or 23.0% in Q3 2023, a decrease of 4.0%[113]. - Loss from operations for Q3 2024 was $7.2 million, an increase of 38.5% compared to the prior year[94]. - Domestic sales for Q3 2024 were $211.2 million, or 72.5% of consolidated net sales, down 8.0% from $229.6 million in Q3 2023[109]. - International sales for Q3 2024 increased to $80.2 million, or 27.5% of consolidated net sales, up 9.1% from $73.5 million in Q3 2023[111]. Backlog and Orders - Backlog as of Q3 2024 was $475.9 million, a decrease of 22.6% from the previous year[94]. - The backlog of orders decreased by $138.9 million, or 22.6%, to $475.8 million as of September 30, 2024, compared to $614.7 million as of September 30, 2023[122]. Expenses - Selling, general and administrative expenses decreased by $8.7 million, or 11.7%, to $65.6 million in Q3 2024[115]. - Selling, general and administrative expenses increased by $1.4 million, or 0.7%, to $208.1 million for the first nine months of 2024, compared to $206.7 million for the same period in 2023[116]. - The total restructuring-related charges for the three months ended September 30, 2024, were $8.4 million, compared to $0.5 million for the same period in 2023[118]. Segment Performance - Infrastructure Solutions segment sales increased by $1.8 million, or 1.1%, to $165.0 million for the third quarter of 2024, while Materials Solutions segment sales decreased by $13.5 million, or 9.6%, to $126.4 million[124][128]. - Segment Operating Adjusted EBITDA for Infrastructure Solutions was $15.6 million for the third quarter of 2024, an increase of $2.3 million, or 17.3%, compared to the same period in 2023[138][139]. - Materials Solutions segment Operating Adjusted EBITDA was $14.5 million for Q3 2024, up $5.0 million or 52.6% from $9.5 million in Q3 2023, primarily due to litigation-related adjustments and favorable inventory changes[140]. - For the first nine months of 2024, Infrastructure Solutions segment Operating Adjusted EBITDA was $68.4 million, an increase of $0.9 million or 1.3% from $67.5 million in the same period of 2023, driven by favorable pricing and reduced costs[142]. - Materials Solutions segment Operating Adjusted EBITDA decreased to $30.0 million for the first nine months of 2024, down $12.4 million or 29.2% from $42.4 million in 2023, mainly due to manufacturing inefficiencies and unfavorable sales volume[143]. Cash Flow and Liquidity - Net cash used in operating activities for the nine months ended September 30, 2024, was $(13.6) million, an improvement of $5.2 million compared to $(18.8) million in the same period of 2023[154]. - Net cash used in investing activities was $14.0 million for the nine months ended September 30, 2024, compared to $3.9 million in the same period of 2023, primarily due to the absence of prior year asset sales[156]. - Total liquidity as of September 30, 2024, was $195.1 million, consisting of $52.7 million in cash and cash equivalents and $142.4 million available for additional borrowings[146]. - As of September 30, 2024, the company had $99.0 million in outstanding borrowings under its Credit Facilities, with $142.4 million available for future borrowings[149]. Impairments and Charges - A goodwill impairment charge of $20.2 million was recognized for the Materials Solutions reporting unit due to macroeconomic conditions[98]. - A pretax non-cash goodwill impairment charge of $20.2 million was recognized for the Materials Solutions reporting unit during the second quarter of 2024[117]. Market Outlook - The company expects total implementation costs for the ERP system to range from $180 to $200 million, with $127 million incurred to date[95]. - The company anticipates that steel prices will remain stable and oil prices will remain high throughout 2024 and into 2025[102][103]. Taxation - The effective income tax rate for the third quarter of 2024 was 27.1%, compared to 8.5% for the third quarter of 2023, driven by higher pretax book loss[120]. Dividends - The company paid quarterly dividends of $0.13 per common share in both Q3 2024 and Q3 2023[158].

Financial Data and Key Metrics Changes - Consolidated net sales for Q3 2024 were $291.4 million, a decrease of 3.9% year-over-year due to reductions in equipment and parts sales [9][28] - Adjusted EBITDA increased by 74%, with an adjusted EBITDA margin improvement of 270 basis points [29] - Adjusted earnings per share was $0.31 compared to a loss of $0.01 in the prior year [30] Business Line Data and Key Metrics Changes - Infrastructure Solutions segment net sales increased by 1.1% to $165 million, driven by an $8.4 million increase in equipment sales [31] - Material Solutions segment net sales decreased by 9.6% to $126.4 million, primarily due to lower domestic equipment sales [32] - Segment operating adjusted EBITDA for Infrastructure Solutions increased by 17.3% to $15.6 million, while Material Solutions saw a 52.6% increase to $14.5 million [31][32] Market Data and Key Metrics Changes - Domestic sales accounted for approximately 72% of consolidated net sales, with a year-over-year decrease of 8%, while international sales increased by 9.1% [29] - The backlog at the end of the quarter was $476 million, with Infrastructure Solutions showing stability and Material Solutions experiencing moderating trends [12][19] Company Strategy and Development Direction - The company is focused on three core pillars: empowering employees, customer focus, and industry-changing innovations [13] - The strategic roadmap aims to enhance operational efficiency and drive sustainable growth [38] - The company is exploring inorganic growth opportunities that align with its financial criteria [40] Management's Comments on Operating Environment and Future Outlook - Management noted a challenging market environment but emphasized strong demand for asphalt and concrete plant deliveries [36] - There is cautious optimism for future orders based on strong quoting activity and customer feedback [49][57] - The company expects full-year sales to be broadly flat compared to the prior year, with gross margin anticipated at the lower end of the previously provided range [41] Other Important Information - The company generated $19.9 million of free cash flow in the quarter and ended with total available liquidity of $195.1 million [34] - The company is committed to sustainability and has introduced innovative products that minimize environmental impact [22][24] Q&A Session Summary Question: What attracted you to the opportunity at Astec? - The new CFO highlighted the strong foundation built by the management team and the potential for value creation through growth drivers [45] Question: Was there a favorable impact to EBITDA from a legal settlement in this third quarter? - Management clarified that there was a $2 million release related to a legal case, contrasting with a $6.4 million charge in the prior year [46] Question: How much has dealer destocking been impacting sales and orders? - Management noted a 4% to 5% reduction in dealer inventory and expressed optimism based on positive dealer feedback [47][48] Question: Do you expect the positive quoting activity to translate to orders in the fourth quarter? - Management indicated historical trends suggest a positive conversion of rental agreements in Q4, with a focus on larger systems [49] Question: Can you talk about ongoing manufacturing efficiencies? - Management expressed satisfaction with cross-site production efforts and emphasized the need to balance cost reductions with expected output [51] Question: What is the outlook for cash flow generation in Q4? - Management expects positive cash flow in Q4, despite some additional cash outflows related to legal settlements [54] Question: Will CapEx remain at maintenance levels next year? - Management indicated that CapEx will likely remain strong, with ongoing investments in operations and potential manufacturing capacity in India [56]