CHATTANOOGA, Tenn., Feb. 07, 2024 (GLOBE NEWSWIRE) -- Astec Industries, Inc. (NASDAQ:ASTE) announces a conference call to review the company's fourth quarter and full year 2023 financial results. Astec Industries, Inc. will release the company's fourth quarter and full year 2023 results to the wire service on Wednesday, February 28, 2024, at approximately 7:00 a.m. Eastern Time. The live call will begin on Wednesday, February 28, 2024, at 8:30 a.m. Eastern Time. Jaco van der Merwe, President and Chief Execu ...

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 September 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 ...

Financial Data and Key Metrics Changes - Sales for Q3 2023 were $303.1 million, down 3.8% year-over-year, with slight declines in both segments [16] - Adjusted EBITDA decreased 39.8% to $10 million, with an adjusted EBITDA margin of 3.3%, a decrease of 200 basis points [17] - Gross margins improved by 220 basis points to 23%, marking the fifth consecutive quarter with gross margins exceeding 20% [17][19] - Adjusted earnings per share decreased to a loss of $0.01 from an income of $0.28 the prior year, primarily due to a litigation contingency [18] Business Line Data and Key Metrics Changes - Infrastructure Solutions net sales decreased 5.5% to $190.8 million, with international growth of 3.4% offset by softening domestic demand [19] - Material Solutions net sales decreased 1.2% to $110.5 million, with international sales increasing by 20.7% while domestic sales declined by 9% [20] - Part sales grew 2.4%, while equipment sales declined by 4.5% [16] Market Data and Key Metrics Changes - Strong international sales growth of 11.7% was noted, while domestic sales were down 7.9% [16] - Backlog decreased 36.6% from the peak in Q3 2022 and 10.8% sequentially, remaining within the historical range of 1.5 to 2 quarters [16] Company Strategy and Development Direction - The company is focused on operational excellence and has simplified its internal staffing and branding [13] - Investments are being made to optimize the manufacture of mobile construction and crushing equipment domestically and internationally [13] - The company is pursuing a growth strategy that includes introducing new products and expanding into new geographies [13][14] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about customer sentiment and backlog for concrete plants and related equipment, expecting strong demand in 2024 [10][12] - The company is monitoring high-volume dealer orders for potential modifications due to rising interest rates [10] - Management indicated that the Federal Highway Bill funding is providing long-term stability for markets and customers [10] Other Important Information - The company announced the addition of paid parental leave for both parents and an increase in the company 401(k) maximum effective January 1, 2024 [7] - A corporate sustainability report is set to be released in Q4, marking a significant step forward in the company's ESG journey [15] Q&A Session Summary Question: Can you discuss the margin front and the sequential decline? - Management noted that overall margins continue to improve year-over-year, but the mix of products in Q3 contributed to the margin profile [27] Question: Did the mix of international versus domestic revenues contribute to margin changes? - Management stated that they were pleased with international performance and that transfer pricing affects margins [29] Question: Are order rates expected to turn positive in Q4? - Management expects a strong order writing period in Q4, in line with previous years, due to low dealer inventory [32] Question: What does "normalization" of orders mean? - Management clarified that they expect order patterns to stabilize within a comfortable range of $400 million to $500 million [34] Question: Can you comment on infrastructure order delays? - Management indicated that delays were temporary and that shipments were expected to resume shortly [42] Question: What is driving the increase in SG&A costs? - Management explained that higher SG&A was due to litigation costs and specific project investments [44] Question: When will improvements from plant efficiency investments be seen? - Management anticipates seeing improvements in Q4 and significant benefits in the following year [49]

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, ...