Third Quarter Earnings 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 United States and global economies. Statements in the presen ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2023 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 o ...

Financial Data and Key Metrics Changes - Sales reached $350 million, a 10% increase year-over-year, with growth in both segments, particularly in Materials Solutions, which saw a 21.2% increase [17] - Adjusted EBITDA rose 143.9% to $32.2 million, with an adjusted EBITDA margin expansion of 510 basis points to 9.2% [18] - Adjusted earnings per share increased to $0.87 from $0.19 the previous year [19] Business Line Data and Key Metrics Changes - Infrastructure Solutions net sales increased 4.1% to $218.1 million, driven by strong domestic performance [19] - Materials Solutions sales increased 21.2% to $130.2 million, with equipment sales growing 29.6% [20] - Segment backlog for Infrastructure Solutions decreased 16.9%, while Materials Solutions backlog was down 19.7% [20][21] Market Data and Key Metrics Changes - Domestic sales grew 15.3%, offsetting softened international sales [17] - Federal contract awards reflected a 30% year-over-year increase for June 2023, indicating strong project activity supported by Federal funding [13] - Supply chain and logistic constraints are easing, although long lead times on certain components remain a challenge [14] Company Strategy and Development Direction - The company is focused on a simplified growth strategy, emphasizing operational excellence and a performance culture [8][10] - The implementation of Oracle Cloud ERP is expected to enhance performance and operational efficiency [7][23] - The company aims to drive sustainable shareholder value through leadership and continuous improvement initiatives [9][10] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the strong demand in the infrastructure market and a positive business environment [12] - Inflationary pressures are stabilizing, and efforts to mitigate rising costs are proving effective [14] - The company anticipates converting more backlog to sales as supply chain constraints ease [18] Other Important Information - The company plans to release new products in the mobile equipment sector, with positive initial customer feedback [32] - A Corporate Sustainability Report is planned for distribution later this year, highlighting the company's commitment to core values [10][15] Q&A Session Summary Question: Backlog trends and normalization expectations - Management indicated a positive outlook for backlog stabilization, aiming for levels consistent with historical averages [28] Question: Capital allocation and M&A pipeline - The company is shifting focus towards growth, including potential acquisitions, while also considering share repurchases and dividends [30] Question: Customer reception of new products - Initial customer feedback on new mobile equipment products has been positive, with expectations for orders in Q4 [32] Question: Infrastructure equipment sales decline - The decline was attributed to lower output during the ERP implementation phase, with expectations for normalization in the coming months [36] Question: Sustainability of service and installation revenue growth - Management confirmed intentional growth in service and installation revenue, expecting continued expansion as more equipment is installed [40] Question: Future revenue growth potential - Management expressed confidence in maintaining strong revenue growth in H2, supported by a solid backlog [46]

Astec Industries, Inc. (NASDAQ:ASTE) Q1 2023 Earnings Conference Call May 3, 2023 8:30 AM ET Company Participants Steve Anderson - SVP of Administration and IR Jaco van der Merwe - CEO Becky Weyenberg - CFO Conference Call Participants Mig Dobre - Baird Steve Ferazani - Sidoti Brian Sponheimer - Gabelli Funds Larry De Maria - William Blair Operator Hello, and welcome to the Astec Industries First Quarter Earnings Call. As a reminder, this conference call is being recorded. It is my pleasure to introduce you ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2023 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 ...

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, 2022 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 https://reportify- 1252068037.cos beijing.myqclou Astec Industries, Inc. (Exact name of registrant as specified in ...

Astec Industries, Inc. (NASDAQ:ASTE) Q4 2022 Earnings Conference Call March 1, 2023 8:30 AM ET Company Participants Stephen Anderson – Senior Vice President of Administration and Investor Relations Jaco van der Merwe – Chief Executive Officer Becky Weyenberg – Chief Financial Officer Conference Call Participants Joe Grabowski – Baird Stanley Elliott – Stifel Steve Ferazani – Sidoti Larry De Maria – William Blair Operator Hello, and welcome to the Astec Industries Fourth Quarter Earnings Call. As a reminder, ...

Fourth Quarter Earnings March 1, 2023 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 United States and global economies. Statement ...

Financial Data and Key Metrics Changes - Sales in Q3 2022 reached $315.2 million, an increase of 18.1% compared to the previous year, marking the highest third-quarter sales in the company's history [6][15] - Adjusted EBITDA increased by 1.2% to $16.6 million, while the adjusted EBITDA margin decreased by 80 basis points to 5.3% due to higher manufacturing costs and increased SG&A expenses [16][19] - Adjusted earnings per share was $0.28, impacted by inflationary pressures in material and labor [17] Business Line Data and Key Metrics Changes - Infrastructure Solutions sales increased by 15.7% to $201.9 million, with domestic sales up 16% and international sales up 14.4% [12][18] - Materials Solutions sales grew by 21% to $111.8 million, driven by a 31.8% increase in equipment sales, while parts sales increased by 4.3% [12][18] Market Data and Key Metrics Changes - Domestic sales increased by 23.6%, while international sales remained constant [15] - Backlog increased by 56.2%, with Material Solutions growing by 31.2% and Infrastructure Solutions surging by 75.8% [15] Company Strategy and Development Direction - The company is focused on a strategic transformation through a global technology platform to enhance automation and process efficiency [9] - The "Simplify, Focus and Grow" strategy aims to drive profitable growth and improve the business and earnings profile [9][14] - The company is committed to sustainability, supporting initiatives like the National Asphalt Paving Association's program for zero carbon emission asphalt pavements by 2050 [14] Management's Comments on Operating Environment and Future Outlook - Management noted robust market demand across segments despite softening macroeconomic indicators, with customer sentiment remaining positive [6][11] - The company expects improvements in margins and revenue as supply chain challenges normalize and inflationary pressures stabilize [12][33] - Management expressed confidence in future growth driven by federal funding from the Federal Highway Bill and ongoing infrastructure investments [11][49] Other Important Information - The company announced an 8.3% increase in its quarterly dividend to $0.13 per share and repurchased $6.1 million worth of shares [8][21] - The Oracle transformation project is expected to enhance operational efficiency and is set to be implemented across all global sites by 2025 [22] Q&A Session Summary Question: Can you provide details on the ERP implementation and its financial implications? - Management indicated that the ERP implementation will primarily be expensed, with a total program cost in the $150 million range, including some capital expenses for facility transformation [28][30] Question: How do you view inflation figures moving forward? - Management noted that pricing has begun to outpace inflation, with expectations for continued pricing realization through Q4 and into 2023 [32][33] Question: What is the outlook for gross margins into 2023? - Management stated that gross margins will be influenced by supply chain improvements, with expectations to recover margins as supply chain issues are resolved [39][40] Question: What is driving the strong order intake in Materials Solutions? - Management highlighted that the current ordering period and customer confidence in infrastructure spending are contributing to strong order intake [41][44] Question: How are component shortages affecting operations? - Management acknowledged ongoing challenges with specific components but noted improvements in supply chain conditions overall [46][47] Question: What are the expectations for federal highway spending? - Management confirmed that customers are beginning to see funds flow from federal programs, with expectations for significant project activity in 2023 and 2024 [49][57] Question: What are the updated CapEx expectations for this year and next? - Management revised the CapEx expectation for this year to $35 million to $45 million, with a similar range anticipated for 2023, focusing on automation projects [53][55]