Welcome to our dedicated page for Astec Inds news (Ticker: ASTE), a resource for investors and traders seeking the latest updates and insights on Astec Inds stock.
Astec Industries Inc (ASTE) provides essential heavy equipment for road construction and asphalt production, serving infrastructure developers globally. This news hub offers investors and industry professionals a centralized source for tracking official announcements and strategic developments.
Key updates include earnings reports, product innovations, regulatory filings, and partnership announcements. Users gain access to verified press releases covering equipment advancements, sustainability initiatives, and market expansion efforts within the construction machinery sector.
Bookmark this page for real-time updates on ASTE's infrastructure solutions, materials processing technologies, and operational milestones. Regularly refreshed content ensures informed decision-making for stakeholders monitoring the heavy equipment industry.
Astec Industries, Inc. (NASDAQ:ASTE) has declared a quarterly dividend of $0.13 per share, set to be paid on May 30, 2023. Shareholders on record as of May 12, 2023 are eligible for this distribution. This dividend decision reflects the company’s ongoing commitment to returning value to its shareholders. Astec operates primarily in Infrastructure Solutions and Materials Solutions, focusing on manufacturing specialized equipment for asphalt road building, aggregate processing, and concrete production. The announcement comes at a time when the construction sector remains pivotal for economic growth, which may benefit Astec's long-term business outlook.
Astec Industries has announced a conference call to discuss its first quarter 2023 financial results on May 3, 2023. The results will be released at around 7:00 a.m. Eastern Time, followed by the live call at 8:30 a.m. Eastern Time. Key executives, including Jaco van der Merwe (CEO) and Rebecca A. Weyenberg (CFO), will host the call. Attendees can access the call by dialing (888) 440-4118 or via an online webcast. A replay will be available until May 17, 2023, and a transcript will be posted on the company’s website within five business days.
Astec Industries reported a strong fourth quarter in 2022, with net sales rising 31.2% to $349.9 million. The operating margin improved by 320 basis points to 0.9%, while the diluted loss per share decreased to $(0.04) from $(0.44). Adjusted EPS surged to $0.34 compared to a loss of $(0.06). The backlog increased 19.7% to $912.7 million. The CEO highlighted growth in Infrastructure and Materials Solutions segments, with respective sales increases of 27% and 39%. Share repurchases amounted to $4 million.
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