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) reported Q2 2024 results with net sales of $345.5 million, down 1.3% year-over-year. The company saw a 5.9% sequential increase in implied orders from Q1. Infrastructure Solutions segment sales grew 11.0%, while Materials Solutions declined. Diluted EPS was $(0.61), including an $0.89 per share goodwill impairment impact, compared to $0.58 in Q2 2023. Adjusted EPS was $0.61 versus $0.87 last year. Backlog stood at $531.1 million as of June 30, 2024. The company noted that only ~20% of federal highway bill funds have been disbursed, with 38% committed. Astec expects market dynamics to improve in the latter half of the year and anticipates benefits from transformation programs in future operating results.
Astec Industries, Inc. (NASDAQ:ASTE) has announced a quarterly dividend of $0.13 per share, payable on or about August 30, 2024 to shareholders of record as of the close of business on August 12, 2024. Astec is a specialized equipment manufacturer for asphalt road building, aggregate processing, and concrete production. The company's operations are divided into two primary business segments: Infrastructure Solutions and Materials Solutions. Infrastructure Solutions includes road building, asphalt and concrete plants, and thermal and storage solutions, while Materials Solutions focuses on aggregate processing equipment.
Astec Industries (NASDAQ: ASTE) has announced its second quarter 2024 financial results conference call, scheduled for August 7, 2024, at 8:30 A.M. Eastern Time. The company will release its Q2 results via wire service at approximately 7:00 a.m. ET on the same day.
The call will be hosted by Jaco van der Merwe (President and CEO), Heinrich Jonker (Interim CFO), and Stephen C. Anderson (SVP of Administration and Investor Relations). Participants can dial (888) 440-4118 (US) or (646) 960-0833 (International) at least 10 minutes before the scheduled time.
A live webcast will be available, and an archived version will be accessible for 90 days on the company's website. A replay of the call can be accessed until August 21, 2024, and a transcript will be posted within 5 business days after the call.
Astec Industries (Nasdaq: ASTE) announced its participation in the Stifel 2024 Cross Sector Insight Conference on June 4-5, 2024. Company representatives, including CEO Jaco van der Merwe, Interim CFO Heinrich Jonker, and Senior VP of Investor Relations Stephen C. Anderson, will present from 4:45 to 5:15 P.M. Eastern time on June 4, 2024. Additionally, they will engage in one-on-one meetings during the event. The presentation can be accessed online via the provided link.
Astec Industries, Inc. (Nasdaq: ASTE) reported its financial results for the first quarter of 2024, indicating a 2.4% increase in implied orders, a backlog of $559.8 million, and an 11.1% decrease in net sales to $309.2 million. The company experienced challenges in the Materials Solutions segment due to longer product conversion cycles and finance capacity constraints, while Infrastructure Solutions faced supply chain delays. Adjusted EPS dropped to $0.34 from $0.90. Despite near-term headwinds, the company remains optimistic for the year and is focused on margin enhancement and working capital improvements.
Astec Industries, Inc. announced a quarterly dividend of $0.13 per share, to be paid on May 31, 2024, to shareholders of record as of May 13, 2024. Astec is a manufacturer of specialized equipment for asphalt road building, aggregate processing, and concrete production.
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