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.
Astec Industries (NASDAQ: ASTE) has entered into a definitive agreement to acquire MINDS Automation Group Inc., a specialist in plant automation control systems for the asphalt industry. Based in British Columbia, Canada, MINDS offers advanced, customizable technology across various regions, including the U.S. and Europe. Astec's President and CEO, Barry Ruffalo, highlighted the strategic importance of this acquisition, which aligns with Astec's growth strategy and commitment to innovation. MINDS' leadership will remain with Astec to support the advancement of automation technologies.
Astec Industries (NASDAQ: ASTE) has announced a definitive agreement to acquire MINDS Automation Group Inc., a leader in plant automation for the asphalt industry. This strategic acquisition aims to enhance Astec's digital platform, integrating MINDS' advanced control systems with existing products. MINDS will continue to operate under its leadership, promoting innovation and efficiency in asphalt production. Astec aims to leverage its strong balance sheet to invest in long-term growth through this acquisition.
Astec Industries, Inc. (Nasdaq: ASTE) will participate in the Sidoti Virtual Conference on March 23, 2022. Key executives including President Barry A. Ruffalo, CFO Rebecca A. Weyenberg, and Senior VP Stephen C. Anderson will present from 1:00 to 1:30 P.M. Eastern time and engage in one-on-one meetings in a virtual format. The presentation can be accessed through a provided link. Astec specializes in manufacturing equipment for asphalt road building, aggregate processing, and concrete production, operating in Infrastructure and Materials Solutions sectors.
Astec Industries reported a 12.1% increase in net sales for Q4 2021, totaling $267.8 million, driven by a rise in domestic asphalt and concrete plant sales.
However, the company faced significant challenges, resulting in a net loss of $9.2 million, down from a net income of $15.4 million in Q4 2020. Adjusted EPS fell to $(0.03), while gross profit margin decreased to 20.1%. The record backlog reached $762.6 million, up 111.5% year-over-year, indicating strong future demand.
Astec Industries (ASTE) reported a strong fourth quarter in 2021, achieving a revenue of $267.8 million, a 12.1% increase year-over-year. Despite strong demand and record backlog, gross profit margin decreased by 350 basis points due to supply chain disruptions and labor shortages, resulting in higher expenses to meet customer demand. The company continues to pursue its Simplify, Focus and Grow strategy. Preliminary results are subject to adjustments as final financial statements are being prepared, with a detailed earnings call scheduled for February 28, 2022.
Astec Industries (ASTE) reported robust third-quarter 2021 results with net sales rising 15.4% to $267 million and net income soaring 481.3% to $9.3 million, translating to diluted EPS of $0.41. Adjusted net income surged 159.1% to $11.4 million. A record backlog of $620.5 million reflects a 184% year-over-year increase. Operating profit jumped 844.4% to $6.7 million, driven by strong domestic and international sales. Despite facing supply chain disruptions and labor shortages, the company remains focused on its strategic transformation initiatives aiming to enhance efficiency and support growth.
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.
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