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 (NASDAQ:ASTE) announced a conference call to discuss their Fourth Quarter and 2020 year-end financial results on March 1, 2021, at 10:00 A.M. ET. The financial results will be released the same day at 7:00 A.M. ET. Key executives, including CEO Barry A. Ruffalo and CFO Rebecca A. Weyenberg, will host the call. To participate, callers must dial in 10 minutes early, with an option for international callers. A replay will be accessible until March 15, 2021, with a transcript available post-call on Astec's Investor Relations website.
Astec Industries, Inc. (Nasdaq: ASTE) will participate in the Sidoti & Company Virtual Investor Conference on January 13, 2021. CEO Barry A. Ruffalo and Senior VP of Investor Relations Stephen C. Anderson will represent the company. This virtual-only event is designed to ensure safety amid the COVID-19 pandemic. Astec specializes in manufacturing equipment for asphalt road building, aggregate processing, and concrete production, operating in two main segments: Infrastructure Solutions and Materials Solutions.
Astec Industries, Inc. (NASDAQ: ASTE) recently held its inaugural virtual Investor Day, where CEO Barry Ruffalo outlined the company's strategic direction and the OneASTEC Business Model, aimed at driving profitable growth. The company aims for 5%-10% revenue growth, an EBITDA margin of over 12%, and EPS growth exceeding 10%. Despite challenges posed by the COVID-19 pandemic, Astec reported improved profitability. The event emphasized Astec's commitment to enhancing its operational and financial performance through its Simplify, Focus and Grow strategy.
Astec Industries will present at the Baird Global Industrials Conference 2020 on November 10, 2020. Key executives, including President and CEO Barry A. Ruffalo, CFO Becky A. Weyenberg, and SVP of Investor Relations Stephen C. Anderson, will participate. Due to COVID-19, the event will be held virtually, ensuring the safety of all participants. The webcast starts at 7:55 AM ET and will be accessible to the public.
For more details, visit the webcast link.
Astec Industries reported Q3 2020 results with net sales of $231.4M, a decrease of 9.5% year-over-year, attributed to COVID-19 impacts. The gross profit margin improved to 21.8%, up 150 bps. However, net income fell 45.2% to $1.6M, with adjusted net income rising 21.7% to $4.6M. The company closed two acquisitions in the Infrastructure Solutions segment and maintained a strong liquidity position with $108.5M in net cash and over $260M liquidity available. The backlog decreased 10.4% to $218.5M.
Astec Industries, Inc. (NASDAQ:ASTE) invites stakeholders to participate in a conference call on November 4, 2020, to discuss its Third Quarter financial results. The financial results will be released at 7:00 A.M. ET on the same day, with a live call at 10:00 A.M. ET. The call will feature President and CEO Barry A. Ruffalo, CFO Rebecca A. Weyenberg, and SVP Stephen C. Anderson. Callers can access the call via phone or a live webcast. An archived version of the call will be available for 90 days, with a transcript accessible within five business days.
Astec Industries, Inc. (Nasdaq: ASTE) will host a virtual institutional investor and analyst meeting on December 10, 2020, from 9:00 AM to 12:00 PM (EST). Presentations will be led by CEO Barry Ruffalo and the executive leadership team, followed by a Q&A session. This format is in response to COVID-19 safety concerns. The event will be accessible via a live webcast on the company's website.
Astec manufactures specialized equipment for asphalt road building, aggregate processing, and concrete production, structured into two main segments: Infrastructure Solutions and Materials Solutions.
Astec Industries (Nasdaq: ASTE) will present at the Sidoti & Company Virtual Investor Conference on September 24, 2020, from 1:00 PM to 1:30 PM ET. CEO Barry A. Ruffalo and Senior VP Stephen C. Anderson will represent the company. The event is virtual to prioritize participant safety during the COVID-19 pandemic. Interested parties can access the presentation via a live webcast at the provided link. Astec specializes in manufacturing equipment for asphalt road building and aggregate processing, operating through two primary segments: Infrastructure Solutions and Materials Solutions.
Astec Industries reported a 13.0% decrease in net sales for Q2 2020, totaling $265.3 million, impacted by COVID-19 disruptions. Adjusted net sales fell 6.8%. Gross margin decreased to 22.5%, while adjusted gross margin rose 100 bps. EPS was $0.41, down from $1.03 a year ago, but adjusted EPS increased 81.1% to $0.67. Backlog declined 26.1% to $182.0 million. The company is consolidating operations, shutting down its Mequon facility, and focuses on enhancing liquidity with a net cash position of $119.8 million.
Astec Industries (NASDAQ: ASTE) announced the acquisition of Concrete Equipment Company and BMH Systems, enhancing its concrete plant offerings with an annualized sales of approximately $50 million. This strategic move aligns with Astec’s goal to simplify and grow profitably, thereby increasing shareholder value. The acquisitions will leverage existing brands, create cost synergies, and open cross-selling opportunities in the asphalt market, particularly in Canada. Astec's CEO highlighted the cultural fit and customer-oriented focus of the new brands, reinforcing the company's robust market position.