Astec Industries, Inc. designs, engineers, manufactures, and markets equipment and components used primarily in road building and related construction activities in the United States and internationally. The company's Infrastructure Solutions segment designs, engineers, manufactures, and markets asphalt plants and related components, heaters, concrete dust control systems, asphalt pavers, vaporizers, concrete material handling systems, screeds, heat recovery units, paste back-fill plants, asphalt storage tanks, hot oil heaters, bagging plants, fuel storage tanks, industrial and asphalt burners and systems, custom batch plants, material transfer vehicles, soil stabilizing-reclaiming machinery, blower trucks and trailers, milling machines, soil remediation plants, wood chippers and grinders, pump trailers, concrete batch plants, control systems, liquid terminals, storage equipment and related parts, construction and retrofits, polymer plants, and concrete mixers, as well as offers engineering and environmental permitting services. This segment offers its products to asphalt producers, highway and heavy equipment contractors, ready mix concrete producers, contractors in the construction and demolition recycling markets, and governmental agencies. Its Materials Solutions segment designs and manufactures crushing equipment, track-mounted systems, bulk material handling solutions, vibrating equipment, screening equipment, electrical control centers, modular relocatable stationary plants, conveying equipment, plant automation products, mobile portable plants, and mineral processing equipment, as well as provides consulting and engineering services. The company has a strategic partnership with CarbonCure Technologies Inc. to offer solution for concrete production. Astec Industries, Inc. was founded in 1972 and is based in Chattanooga, Tennessee.
IPO Year: 1986
Exchange: NASDAQ
Website: astecindustries.com
| Date | Price Target | Rating | Analyst |
|---|---|---|---|
| 5/2/2024 | $47.00 → $37.00 | Buy → Hold | Stifel |
| 4/8/2022 | $40.00 | Outperform → Neutral | Robert W. Baird |
| 11/8/2021 | $65.00 → $82.00 | Neutral → Buy | Sidoti |
CHATTANOOGA, Tenn., Nov. 07, 2024 (GLOBE NEWSWIRE) -- Astec Industries, Inc. (NASDAQ:ASTE) announced today it will participate in the Baird Global Industrial Conference on November 14, 2024. Jaco van der Merwe, President and Chief Executive Officer, Brian Harris, Chief Financial Officer and Steve Anderson, Senior Vice President of Investor Relations will attend the conference. About ASTEC Astec, (www.astecindustries.com), is a manufacturer of specialized equipment for asphalt road building, aggregate processing and concrete production. Astec's manufacturing operations are divided into two primary business segments: Infrastructure Solutions that includes road building equipment, asphalt a
Third Quarter 2024 Overview (all comparisons are made to the corresponding prior year third quarter unless otherwise specified): Net sales of $291.4 million decreased 3.9%Net loss of $6.2 million, which included an $8.4 million charge related to the settlement of a legacy litigation matter: Adjusted net income of $7.0 millionEBITDA of $0.6 million declined $1.2 million; Adjusted EBITDA was $17.4 million, an increase of $7.4 millionDiluted EPS of $(0.27) compared to $(0.29); Adjusted EPS of $0.31 compared to $(0.01)Operating cash flow of $22.5 million; Free cash flow of $19.9 million CHATTANOOGA, Tenn., Nov. 06, 2024 (GLOBE NEWSWIRE) -- Astec Industries, Inc. (NASDAQ:ASTE) announc
CHATTANOOGA, Tenn., Oct. 24, 2024 (GLOBE NEWSWIRE) -- Astec Industries, Inc. (NASDAQ:ASTE) announced that its Board of Directors declared a quarterly dividend of $0.13 per share. The dividend is to be paid on or about November 27, 2024 to shareholders of record as of the close of business on November 13, 2024. About ASTEC Astec is a manufacturer of specialized equipment for asphalt road building, aggregate processing and concrete production. Astec's manufacturing operations are divided into two primary business segments: Infrastructure Solutions that includes road building, asphalt and concrete plants, thermal and storage solutions; and Materials Solutions that includes our aggregate
CHATTANOOGA, Tenn., Oct. 10, 2024 (GLOBE NEWSWIRE) -- You are invited by Astec Industries, Inc. (NASDAQ:ASTE) to participate in a conference call to review the company's third quarter 2024 financial results. Astec Industries, Inc. will be releasing the company's third quarter results to the wire service on Wednesday, November 6, 2024 at approximately 7:00 a.m. Eastern Time. The live call will begin on Wednesday, November 6, 2024 at 8:30 a.m. Eastern Time. Jaco van der Merwe, President and Chief Executive Officer, Brian Harris, Chief Financial Officer, Heinrich Jonker, Vice President of Finance - Infrastructure, and Stephen C. Anderson, Senior Vice President of Administration
CHATTANOOGA, Tenn., Oct. 07, 2024 (GLOBE NEWSWIRE) -- Astec Industries, Inc. (NASDAQ:ASTE) ("Astec" or the "Company") today announced the appointment of Brian J. Harris as its Chief Financial Officer, effective immediately. In connection with the appointment of Mr. Harris, Heinrich Jonker will step down from his role as Interim Chief Financial Officer and will continue to serve as Vice President Finance – Infrastructure Solutions of the Company. Mr. Harris previously served as Executive Vice President and Chief Financial Officer of Summit Materials, Inc. (NYSE:SUM) ("Summit"), a leading producer of aggregates and cement, from October 2013 to February 2023. Prior to his role at Summit, Mr.
CHATTANOOGA, Tenn., Sept. 13, 2024 (GLOBE NEWSWIRE) -- Astec Industries, Inc. (NASDAQ:ASTE) announced Jaco van der Merwe (Chief Executive Officer), Heinrich Jonker (Interim Chief Financial Officer) and Steve Anderson (Senior Vice President of Administration and Investor Relations), will present and host one-on-one meetings with investors at the Sidoti Small-Cap Virtual Investor Conference, taking place on September 19, 2024. The presentation will begin at 10:00 a.m. Eastern Daylight Time (EDT) on September 19, 2024 and can be accessed live here:(https://sidoti.zoom.us/webinar/register/WN_4RmvLffQTvSOsidSpFCf_A). Astec Industries, Inc. will also host virtual one-on-ones with investors on
Second Quarter 2024 Overview (all comparisons are made to the corresponding prior year second quarter unless otherwise specified): Net sales of $345.5 million decreased 1.3% from the record sales in the prior year.Implied orders increased 5.9% sequentially from the first quarter.Inventory initiatives drove $28.7 million sequential reduction from the first quarter.Diluted EPS of $(0.61), which included an $0.89 per share impact related to goodwill impairment, compared to $0.58; Adjusted EPS of $0.61 compared to $0.87. Backlog of $531.1 million as of June 30, 2024.Federal highway bill spending in the early stages of deployment, with only ~ 20% funds disbursed and 38% committed. Total st
CHATTANOOGA, Tenn., July 29, 2024 (GLOBE NEWSWIRE) -- Astec Industries, Inc. (NASDAQ:ASTE) announced that its Board of Directors declared a quarterly dividend of $0.13 per share. The dividend is to be paid on or about August 30, 2024 to shareholders of record as of the close of business on August 12, 2024. About ASTEC Astec is a manufacturer of specialized equipment for asphalt road building, aggregate processing and concrete production. Astec's manufacturing operations are divided into two primary business segments: Infrastructure Solutions that includes road building, asphalt and concrete plants, thermal and storage solutions; and Materials Solutions that includes our aggregate process
CHATTANOOGA, Tenn., July 15, 2024 (GLOBE NEWSWIRE) -- You are invited by Astec Industries, Inc. (NASDAQ:ASTE) to participate in a conference call to review the company's second quarter 2024 financial results. Astec Industries, Inc. will be releasing the company's second quarter results to the wire service on Wednesday, August 7, 2024 at approximately 7:00 a.m. Eastern Time. The live call will begin on Wednesday, August 7, 2024 at 8:30 a.m. Eastern Time. Jaco van der Merwe, President and Chief Executive Officer, Heinrich Jonker, Interim Chief Financial Officer, and Stephen C. Anderson, Senior Vice President of Administration and Investor Relations, will host the call. To access the call
CHATTANOOGA, Tenn. , May 29, 2024 (GLOBE NEWSWIRE) -- Astec Industries, Inc. (NASDAQ:ASTE) announced today it will participate in the Stifel 2024 Cross Sector Insight Conference on June 4th and 5th, 2024. Jaco van der Merwe, President and Chief Executive Officer, Heinrich Jonker, Interim Chief Financial Officer and Stephen C. Anderson, Senior Vice President of Investor Relations will present at the conference and participate in 1x1 meetings. The ASTEC presentation will take place from 4:45 to 5:15 P.M. Eastern time on Tuesday, June 4, 2024. Those wishing to access the presentation can do so with the following link: https://wsw.com/webcast/stifel89/aste/2099832 About ASTEC Astec, (www.as
CHATTANOOGA, Tenn., Oct. 07, 2024 (GLOBE NEWSWIRE) -- Astec Industries, Inc. (NASDAQ:ASTE) ("Astec" or the "Company") today announced the appointment of Brian J. Harris as its Chief Financial Officer, effective immediately. In connection with the appointment of Mr. Harris, Heinrich Jonker will step down from his role as Interim Chief Financial Officer and will continue to serve as Vice President Finance – Infrastructure Solutions of the Company. Mr. Harris previously served as Executive Vice President and Chief Financial Officer of Summit Materials, Inc. (NYSE:SUM) ("Summit"), a leading producer of aggregates and cement, from October 2013 to February 2023. Prior to his role at Summit, Mr.
CHATTANOOGA, Tenn., March 07, 2024 (GLOBE NEWSWIRE) -- Astec Industries, Inc. (NASDAQ:ASTE) ("Astec" or the "Company") today announced the appointment of Heinrich Jonker, Vice President Finance – Infrastructure Solutions, as its Chief Financial Officer on an interim basis, effective immediately. Mr. Jonker's appointment follows the decision by Rebecca A. Weyenberg, Chief Financial Officer, to step down from her role as CFO. Mrs. Weyenberg will remain employed by the company on an advisory basis through April 30, 2024, to assist in the transition. Astec's Board of Directors has initiated a search process to identify the Company's next CFO and has retained a nationally recognized search fir
CHATTANOOGA, Tenn., Jan. 22, 2024 (GLOBE NEWSWIRE) -- Astec Industries, Inc. (NASDAQ:ASTE) announced the company's board of directors (the "Board") appointed Mr. Patrick S. Shannon and Mr. Jeffrey ("Jeff") T. Jackson, new independent directors, to the Board effective as of January 18, 2024. Mr. William Bradley ("Brad") Southern, an independent director, informed the Board he will be retiring as a member of the Board effective January 18, 2024. With the election of Mr. Shannon and Mr. Jackson, and the retirement of Mr. Southern, the size of the Board increased to 11 directors, 10 of whom are independent directors. Mr. Shannon will also serve as a member of the Audit Committee of the Board a
CHATTANOOGA, Tenn., July 28, 2023 (GLOBE NEWSWIRE) -- Astec Industries, Inc. (NASDAQ:ASTE) announced the company's board of directors (the "Board") elected Mr. James (Jay) Winford, a new independent director, effective as of July 27, 2023. Mr. Glen Tellock, an independent director, informed the Board he desired to retire as a member of the Board effective July 27, 2023. With the election of Mr. Winford and the retirement of Mr. Tellock, the size of the Board remains unchanged with 10 directors, 9 of whom are independent directors. Mr. Winford will also serve as a member of the Nominating and Corporate Governance Committee of the Board. William Gehl, Chairman of Astec's Board of Directors,
CHATTANOOGA, Tenn., Jan. 06, 2023 (GLOBE NEWSWIRE) -- Astec Industries, Inc. (NASDAQ:ASTE) announced today Barry Ruffalo has stepped down as President and Chief Executive Officer and as a member of the Board of Directors, effective immediately. The Board has appointed Jaco van der Merwe to serve as President and Chief Executive Officer and as a member of the Astec Industries Board of Directors. Mr. van der Merwe joined Astec in 2016 as Group President and currently serves as Group President – Infrastructure Solutions, a role he assumed in 2019. William D. Gehl, Chairman of the Board, said, "We are fortunate to have someone with Jaco's experience and skill to assume the role of CEO. He i
CHATTANOOGA, Tenn., Nov. 08, 2022 (GLOBE NEWSWIRE) -- Astec Industries, Inc. (NASDAQ:ASTE) announced the company's board of directors (the "Board") elected Mr. Mark Gliebe and Mr. Nalin Jain, each a new independent director, effective as of November 10, 2022. The election of Mr. Gliebe and Mr. Jain increases the size of the Board to 12 directors, 11 of whom are independent directors. Each of Mr. Gliebe and Mr. Jain will serve as a member of the Audit Committee of the Board. In addition, Mr. Gliebe will also serve as a member of the Compensation Committee of the Board, and Mr. Jain will also serve as a member of the Nominating and Corporate Governance Committee of the Board. Mr. Gliebe is
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Stifel downgraded Astec Industries from Buy to Hold and set a new price target of $37.00 from $47.00 previously
Robert W. Baird downgraded Astec Industries from Outperform to Neutral and set a new price target of $40.00
Sidoti upgraded Astec Industries from Neutral to Buy and set a new price target of $82.00 from $65.00 previously
Stifel upgraded Astec Industries from Hold to Buy and set a new price target of $81.00 from $75.00 previously
Robert W. Baird reiterated coverage of Astec Industries with a rating of Outperform and set a new price target of $92.00 from $90.00 previously
10-Q - ASTEC INDUSTRIES INC (0000792987) (Filer)
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8-K - ASTEC INDUSTRIES INC (0000792987) (Filer)
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10-Q - ASTEC INDUSTRIES INC (0000792987) (Filer)
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8-K - ASTEC INDUSTRIES INC (0000792987) (Filer)
Third Quarter 2024 Overview (all comparisons are made to the corresponding prior year third quarter unless otherwise specified): Net sales of $291.4 million decreased 3.9%Net loss of $6.2 million, which included an $8.4 million charge related to the settlement of a legacy litigation matter: Adjusted net income of $7.0 millionEBITDA of $0.6 million declined $1.2 million; Adjusted EBITDA was $17.4 million, an increase of $7.4 millionDiluted EPS of $(0.27) compared to $(0.29); Adjusted EPS of $0.31 compared to $(0.01)Operating cash flow of $22.5 million; Free cash flow of $19.9 million CHATTANOOGA, Tenn., Nov. 06, 2024 (GLOBE NEWSWIRE) -- Astec Industries, Inc. (NASDAQ:ASTE) announc
CHATTANOOGA, Tenn., Oct. 24, 2024 (GLOBE NEWSWIRE) -- Astec Industries, Inc. (NASDAQ:ASTE) announced that its Board of Directors declared a quarterly dividend of $0.13 per share. The dividend is to be paid on or about November 27, 2024 to shareholders of record as of the close of business on November 13, 2024. About ASTEC Astec is a manufacturer of specialized equipment for asphalt road building, aggregate processing and concrete production. Astec's manufacturing operations are divided into two primary business segments: Infrastructure Solutions that includes road building, asphalt and concrete plants, thermal and storage solutions; and Materials Solutions that includes our aggregate
CHATTANOOGA, Tenn., Oct. 10, 2024 (GLOBE NEWSWIRE) -- You are invited by Astec Industries, Inc. (NASDAQ:ASTE) to participate in a conference call to review the company's third quarter 2024 financial results. Astec Industries, Inc. will be releasing the company's third quarter results to the wire service on Wednesday, November 6, 2024 at approximately 7:00 a.m. Eastern Time. The live call will begin on Wednesday, November 6, 2024 at 8:30 a.m. Eastern Time. Jaco van der Merwe, President and Chief Executive Officer, Brian Harris, Chief Financial Officer, Heinrich Jonker, Vice President of Finance - Infrastructure, and Stephen C. Anderson, Senior Vice President of Administration
Second Quarter 2024 Overview (all comparisons are made to the corresponding prior year second quarter unless otherwise specified): Net sales of $345.5 million decreased 1.3% from the record sales in the prior year.Implied orders increased 5.9% sequentially from the first quarter.Inventory initiatives drove $28.7 million sequential reduction from the first quarter.Diluted EPS of $(0.61), which included an $0.89 per share impact related to goodwill impairment, compared to $0.58; Adjusted EPS of $0.61 compared to $0.87. Backlog of $531.1 million as of June 30, 2024.Federal highway bill spending in the early stages of deployment, with only ~ 20% funds disbursed and 38% committed. Total st
CHATTANOOGA, Tenn., July 29, 2024 (GLOBE NEWSWIRE) -- Astec Industries, Inc. (NASDAQ:ASTE) announced that its Board of Directors declared a quarterly dividend of $0.13 per share. The dividend is to be paid on or about August 30, 2024 to shareholders of record as of the close of business on August 12, 2024. About ASTEC Astec is a manufacturer of specialized equipment for asphalt road building, aggregate processing and concrete production. Astec's manufacturing operations are divided into two primary business segments: Infrastructure Solutions that includes road building, asphalt and concrete plants, thermal and storage solutions; and Materials Solutions that includes our aggregate process
CHATTANOOGA, Tenn., July 15, 2024 (GLOBE NEWSWIRE) -- You are invited by Astec Industries, Inc. (NASDAQ:ASTE) to participate in a conference call to review the company's second quarter 2024 financial results. Astec Industries, Inc. will be releasing the company's second quarter results to the wire service on Wednesday, August 7, 2024 at approximately 7:00 a.m. Eastern Time. The live call will begin on Wednesday, August 7, 2024 at 8:30 a.m. Eastern Time. Jaco van der Merwe, President and Chief Executive Officer, Heinrich Jonker, Interim Chief Financial Officer, and Stephen C. Anderson, Senior Vice President of Administration and Investor Relations, will host the call. To access the call
First Quarter 2024 Overview (all comparisons are made to the corresponding prior year first quarter unless otherwise specified): Implied orders increased 2.4% sequentially from the fourth quarter.Backlog of $559.8 million as of March 31, 2024 approaching historical range.Net sales decreased 11.1% to $309.2 million. Gross margin of 24.9% decreased 70 basis points. Diluted EPS of $0.15 compared to $0.53; Adjusted EPS of $0.34 compared to $0.90. Federal highway and pavement contract awards increased 11% year-over-year.Record attendance at 2024 World of Asphalt/Agg1 trade show, with high levels of interest in equipment and digital solutions. CHATTANOOGA, Tenn., May 01, 2024 (GLOB
CHATTANOOGA, Tenn., April 29, 2024 (GLOBE NEWSWIRE) -- Astec Industries, Inc. (NASDAQ:ASTE) announced that its Board of Directors declared a quarterly dividend of $0.13 per share. The dividend is to be paid on or about May 31, 2024 to shareholders of record as of the close of business on May 13, 2024. About ASTEC Astec is a manufacturer of specialized equipment for asphalt road building, aggregate processing and concrete production. Astec's manufacturing operations are divided into two primary business segments: Infrastructure Solutions that includes road building, asphalt and concrete plants, thermal and storage solutions; and Materials Solutions that includes our aggregate processing e
CHATTANOOGA, Tenn., April 08, 2024 (GLOBE NEWSWIRE) -- You are invited by Astec Industries, Inc. (NASDAQ:ASTE) to participate in a conference call to review the company's first quarter 2024 financial results. Astec Industries, Inc. will be releasing the company's first quarter results to the wire service on Wednesday, May 1, 2024 at approximately 7:00 a.m. Eastern Time. The live call will begin on Wednesday, May 1, 2024 at 8:30 a.m. Eastern Time. Jaco van der Merwe, President and Chief Executive Officer, Heinrich Jonker, Interim Chief Financial Officer, and Stephen C. Anderson, Senior Vice President of Administration and Investor Relations, will host the call. To access the cal
Fourth Quarter and Full Year 2023 Overview (all comparisons are made to the corresponding prior year fourth quarter or prior year, as applicable): Net sales decreased 3.6% to $337.2 million in the quarter. Full year net sales increased 5.0% to $1.3 billion.Gross margin of 26.4% increased 610 basis points in the quarter. Full year gross margin of 24.7% increased 400 basis points.Diluted EPS of $0.65 compared to $(0.04) in the quarter; Adjusted EPS of $0.90 compared to $0.34 in the quarter. Full year diluted EPS of $1.47 compared to $0.00; full year Adjusted EPS of $2.67 compared to $1.23.Backlog of $569.8 million as of December 31, 2023 continued to normalize from $969.0 million peak at Se
Stifel analyst Stanley Elliott downgrades Astec Industries (NASDAQ:ASTE) from Buy to Hold and lowers the price target from $47 to $37.
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Astec Industries (NASDAQ:ASTE) reported quarterly Adj earnings of $0.34 per share which missed the analyst consensus estimate of $0.81 by 58.02 percent. This is a 62.22 percent decrease over earnings of $0.90 per share from the same period last year. The company reported quarterly sales of $309.200 million which missed the analyst consensus estimate of $343.268 million by 9.92 percent. This is a 11.12 percent decrease over sales of $347.900 million the same period last year.
Weyenberg will remain employed by the company on an advisory basis through April 30, 2024, to assist in the transition. Astec's Board of Directors has initiated a search process to identify the Company's next CFO and has retained a nationally recognized search firm to assist in evaluating candidates for the role.
Astec Industries (NASDAQ:ASTE) reported quarterly earnings of $0.90 per share which beat the analyst consensus estimate of $0.68 by 32.35 percent. This is a 164.71 percent increase over earnings of $0.34 per share from the same period last year. The company reported quarterly sales of $337.20 million which missed the analyst consensus estimate of $347.29 million by 2.91 percent. This is a 3.63 percent decrease over sales of $349.90 million the same period last year.
Companies Reporting Before The Bell • ICL Group (NYSE:ICL) is likely to report quarterly earnings at $0.08 per share on revenue of $1.69 billion. • Golden Ocean Group (NASDAQ:GOGL) is likely to report quarterly earnings at $0.27 per share on revenue of $193.12 million. • Wallbox (NYSE:WBX) is likely to report earnings for its fourth quarter. • Immunocore Hldgs (NASDAQ:IMCR) is estimated to report quarterly loss at $0.28 per share on revenue of $67.23 million. • Royal Bank of Canada (NYSE:RY) is likely to report quarterly earnings at $2.08 per share on revenue of $9.95 billion. • TG Therapeutics (NASDAQ:TGTX) is likely to report quarterly loss at $0.10 per share on revenue of $40.06 mil
Stifel analyst Stanley Elliott maintains Astec Industries (NASDAQ:ASTE) with a Buy and raises the price target from $41 to $42.