Welcome to our dedicated page for Astec Industries news (Ticker: ASTE), a resource for investors and traders seeking the latest updates and insights on Astec Industries stock.
Astec Industries, Inc. manufactures specialized equipment and aftermarket parts for asphalt road building, aggregate processing, concrete production and related industrial markets. News about ASTE commonly covers quarterly and annual results, order backlog, cash flow, adjusted EBITDA guidance, dividend declarations and market demand tied to infrastructure, aggregates, concrete and materials processing.
The company's updates also discuss its two manufacturing segments: Infrastructure Solutions, including road building, asphalt and concrete plants, thermal and storage solutions; and Materials Solutions, including aggregate processing, recycling, energy, mining, hydro-electric and bulk material handling applications. Other recurring items include controls and automation products, telematic platforms, aftermarket opportunities, capital allocation, operational initiatives and leadership changes within segment management.
Astec Industries, Inc. (NASDAQ:ASTE) will release its Third Quarter financial results on November 3, 2021, at approximately 7:00 A.M. Eastern Time. A conference call to discuss these results will follow at 8:30 A.M. Eastern Time, hosted by CEO Barry A. Ruffalo and CFO Rebecca A. Weyenberg. Investors can dial in or access a live webcast through their website. A replay will be available thereafter. Astec focuses on providing innovative solutions in road building and material processing, operating under two segments: Infrastructure Solutions and Materials Solutions.
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Astec Industries reported a 4.8% increase in net sales for Q2 2021, reaching $278.0 million. However, net income fell 3.2% to $9.0 million, with adjusted net income down 26.3% to $11.2 million. The gross profit margin improved by 160 basis points to 24.1%. International sales surged 75.7%, while domestic sales declined 9.2%. A record backlog of $436.1 million represented a 139.7% year-over-year increase. The company cited inflation and labor shortages as challenges to profitability.
Astec Industries invites investors to join a conference call on August 4, 2021, to discuss its Second Quarter financial results. The results will be released at approximately 7:00 A.M. Eastern Time, followed by the call at 8:30 A.M. Eastern Time. Key executives, including Barry A. Ruffalo and Rebecca A. Weyenberg, will present.
Participants can access the call by dialing 844-602-0380 (international: 862-298-0970). An archived webcast will be available for 90 days post-call at astecindustries.com.
Astec Industries (Nasdaq: ASTE) will participate in the Stifel 2021 Virtual Cross Sector Insight Conference on June 10, 2021. Presenters include CEO Barry A. Ruffalo, CFO Rebecca A. Weyenberg, and SVP of Investor Relations Stephen C. Anderson. The presentation is scheduled from 10:00 AM to 10:30 AM Eastern Time and will occur in a virtual format. Interested parties can access the presentation via the provided link. Astec is known for its innovative solutions in road building, aggregate processing, and concrete production since 1972.
Astec Industries is rebranding to unify its subsidiaries under one name, ASTEC, enhancing its business model. This initiative includes a new logo and website, aiming to streamline operations and improve customer engagement. Formerly separate brands like Astec Inc., Astec do Brasil, and others will now operate collectively. This move aligns with the company's OneASTEC strategy, promoting efficiency and innovation. The updated website will serve as a centralized resource for dealers and customers, consolidating information about ASTEC's products and services.
Astec Industries reported a 1.5% decline in net sales, totaling $284.4 million, for Q1 2021 compared to Q1 2020. Domestic sales fell by 3.5%, while international sales rose by 6.9%. Net income decreased 57.8% to $8.7 million, with diluted EPS dropping to $0.38. The backlog increased significantly by 71.5% to $420.8 million. Despite operational challenges from shifting production and rising steel prices, management remains optimistic about future infrastructure investments.
Astec Industries, Inc. (NASDAQ:ASTE) will hold a conference call on May 5, 2021, at 10:00 A.M. Eastern Time to discuss its First Quarter financial results. The financial results will be released at 7:00 A.M. the same day. Key executives, including President Barry A. Ruffalo and CFO Rebecca A. Weyenberg, will host the call. Call participants can access the call by phone or through a live webcast. A replay will be available post-call, and a transcript will be posted on the company's website within five business days.
Astec Industries (Nasdaq: ASTE) announced its participation in the Sidoti & Company Virtual Investor Conference scheduled for March 25, 2021. Key executives, including Barry A. Ruffalo, Rebecca A. Weyenberg, and Stephen C. Anderson, will present and engage in one-on-one meetings to discuss the company's prospects. The conference will be held online to ensure participant safety amid the ongoing COVID-19 pandemic. The Astec presentation will occur from 8:30 to 9:00 AM Eastern. For access, visit the provided link.
Astec Industries reported fourth quarter 2020 financial results, revealing a 15.6% decline in net sales to $238.9 million. Despite reduced sales due to COVID-19, net income surged 183.7% to $15.4 million, and diluted EPS rose to $0.67. Gross profit margin improved significantly to 23.8%, reflecting enhanced operational efficiencies. The company's backlog increased by 36.7% to $360.5 million, indicating strong future demand. Full-year net sales were $1.0 billion, down 12.4% year-over-year, but adjusted EPS rose 53.5%.