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 (NASDAQ: ASTE) generates a steady flow of news related to its role as a manufacturer of specialized equipment for asphalt road building, aggregate processing and concrete production. Company updates frequently highlight developments in its two operating segments, Infrastructure Solutions and Materials Solutions, which cover asphalt and concrete plants, road building equipment, thermal and storage solutions, and aggregate and materials processing equipment.
Investors following ASTE news can expect regular earnings announcements and segment performance updates. Recent press releases have detailed quarterly net sales, segment net sales, operating margins, adjusted EBITDA and backlog for Infrastructure Solutions and Materials Solutions, along with commentary on demand for asphalt and concrete plants, mobile paving and forestry equipment, and materials processing equipment.
Astec’s news flow also includes acquisition and financing activity. The company has reported the completion of the TerraSource Holdings, LLC acquisition and later the acquisition of CWMF, LLC, describing how these businesses expand its materials processing and asphalt plant equipment offerings. Related Form 8-K filings and press releases discuss the credit agreement used to finance TerraSource and outline the structure of the company’s credit facilities.
Additional ASTE news items cover capital allocation decisions such as quarterly dividend declarations and participation in investor conferences hosted by firms including Baird, Stephens and Sidoti. These events feature Astec’s senior management in one-on-one meetings and presentations to institutional investors. For readers monitoring ASTE, this news page provides a central view of financial results, strategic transactions, dividends and investor relations activities reported by the company.
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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.
Astec Industries has declared a quarterly dividend of $0.13 per share, scheduled for payment on March 30, 2023. Shareholders of record as of the close of business on March 10, 2023 will receive this dividend. Astec operates within specialized equipment manufacturing for asphalt road building, aggregate processing, and concrete production, divided into two segments: Infrastructure Solutions and Materials Solutions.
Astec Industries, Inc. (NASDAQ: ASTE) will participate in CONEXPO-CON/AGG from March 14-18 in Las Vegas, showcasing its extensive product range for the infrastructure market. The exhibition will feature fully assembled concrete batch plants, immersive virtual reality experiences, and over 20 equipment models, including the new Astec digital technology solutions. CEO Jaco van der Merwe will discuss his vision, while other executives will highlight product innovations aimed at enhancing customer productivity. Key highlights include new machines, a virtual reality station for asphalt plant exploration, and several innovative equipment models.
Astec Industries (NASDAQ:ASTE) has announced a conference call scheduled for March 1, 2023, to discuss its fourth quarter 2022 financial results. The results will be released at 7:00 a.m. ET, followed by the live call at 8:30 a.m. ET. Key executives, including CEO Jaco van der Merwe and CFO Rebecca A. Weyenberg, will host the call. Investors and analysts can access the call by dialing specific numbers provided in the release. An archived webcast will be available for 90 days post-call. Astec specializes in manufacturing equipment for asphalt road building and aggregate processing.
Astec Industries (Nasdaq: ASTE) has announced the immediate resignation of Barry Ruffalo as CEO and board member. Jaco van der Merwe, previously Group President, has been appointed as the new CEO. Van der Merwe brings significant experience, having joined Astec in 2016 and holding various leadership roles in the construction equipment sector. Chairman William D. Gehl praised van der Merwe's qualifications, highlighting the importance of his background in guiding the company's future.
EMCOR Group, Inc. has appointed Rebecca A. Weyenberg to its Board of Directors, effective December 14, 2022. Currently the CFO of Astec Industries, Weyenberg brings extensive experience in financial leadership and strategic acquisitions, particularly in construction and manufacturing sectors. Chairman Anthony J. Guzzi emphasized her potential to drive long-term value for shareholders due to her robust background in finance. Weyenberg holds a B.A. in Accounting from Carthage College and has previously held key positions at Welbilt and AGCO.