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) is a renowned manufacturer of heavy equipment primarily serving the road construction industry. The company designs and produces an array of machinery and components essential for constructing roads, from the initial mining and crushing of materials to the final road surface creation. Their comprehensive product line includes plants, pavers, vehicles, and specialized machines that transform raw materials into essential construction components.
Astec Industries operates through two main segments: Infrastructure Solutions and Materials Solutions, with the former generating the majority of the company’s revenue. Their infrastructure solutions are pivotal in supporting asphalt producers, highway contractors, and heavy equipment operators, while their materials solutions cater to ready-mix concrete producers, demolition recycling markets, sand and gravel producers, and operators of open mines and quarries.
The company's innovative approach and commitment to excellence are evident in its recent achievements and ongoing projects. Astec Industries is continuously enhancing its product offerings to meet the evolving needs of the construction sector, ensuring high performance and reliability.
Financially, Astec Industries maintains a strong presence in the U.S. market, contributing significantly to its revenue. The latest developments include a scheduled conference call to review the company’s financial results for the first quarter of 2024. This event, accessible via a live webcast, underscores the company's commitment to transparency and investor relations.
For more information, Astec Industries maintains an active presence on social media platforms like LinkedIn, Facebook, Instagram, and YouTube, providing regular updates and insights into their operations and advancements.
Astec Industries (NASDAQ: ASTE) has announced a quarterly dividend payment of $0.13 per share, as declared by its Board of Directors. The dividend will be paid on March 31, 2025, to shareholders of record as of March 10, 2025.
Astec specializes in manufacturing equipment for asphalt road building, aggregate processing, and concrete production. The company operates through two main business segments: Infrastructure Solutions, which focuses on road building, asphalt and concrete plants, and thermal and storage solutions; and Materials Solutions, which handles aggregate processing equipment.
Astec Industries (NASDAQ: ASTE) has scheduled its fourth quarter and full year 2024 financial results conference call for February 26, 2025, at 8:30 a.m. Eastern Time. The company will release its results earlier that day at approximately 7:00 a.m. Eastern Time.
The conference call will be hosted by President and CEO Jaco van der Merwe, CFO Brian Harris, and SVP of Administration and Investor Relations Stephen C. Anderson. Participants can join by dialing (888) 440-4118 domestically or (646) 960-0833 internationally, at least 10 minutes before the scheduled time.
A live webcast will be available through a provided link, and an archived version will remain accessible for 90 days on the company's website. A replay will be available until March 12, 2025, via phone, and a transcript will be posted under the Investor Relations section within 5 business days after the call.
Astec Industries (Nasdaq: ASTE) has announced its participation in the upcoming Baird Global Industrial Conference scheduled for November 14, 2024. The company will be represented by three key executives: President and CEO Jaco van der Merwe, CFO Brian Harris, and Senior VP of Investor Relations Steve Anderson.
Astec Industries (ASTE) reported mixed Q3 2024 results with net sales of $291.4 million, down 3.9% year-over-year. The company posted a net loss of $6.2 million, including an $8.4 million charge for legacy litigation settlement. Infrastructure Solutions showed strength with increased sales and margins, while Materials Solutions faced challenging market conditions. Adjusted EBITDA improved to $17.4 million, up $7.4 million from previous year. The company's backlog stood at $475.8 million, down 22.6%. Free cash flow was $19.9 million, with total liquidity of $195.1 million.
Astec Industries (NASDAQ: ASTE) has announced a quarterly dividend of $0.13 per share, payable on November 27, 2024, to shareholders of record as of November 13, 2024. The company specializes in manufacturing equipment for asphalt road building, aggregate processing, and concrete production. Astec operates through two main business segments: Infrastructure Solutions, focusing on road building and asphalt/concrete plants, and Materials Solutions, which handles aggregate processing equipment.
Astec Industries, Inc. (NASDAQ: ASTE) has announced its third quarter 2024 conference call, scheduled for November 6, 2024, at 8:30 A.M. Eastern Time. The company will release its Q3 results on the same day at approximately 7:00 a.m. Eastern Time.
The call will be hosted by key executives including Jaco van der Merwe (President and CEO), Brian Harris (CFO), Heinrich Jonker (VP of Finance - Infrastructure), and Stephen C. Anderson (SVP of Administration and Investor Relations).
Participants can join the call by dialing (888) 440-4118 for domestic callers or (646) 960-0833 for international callers. A live webcast will also be available. An archived webcast will be accessible for 90 days on the company's website, and a replay of the call will be available until November 20, 2024.
Astec Industries, Inc. (Nasdaq: ASTE) has appointed Brian J. Harris as its new Chief Financial Officer, effective immediately. Harris brings extensive experience to the role, having previously served as Executive Vice President and CFO of Summit Materials, Inc. from 2013 to 2023, and in similar positions at Bausch + Lomb and Gates
Heinrich Jonker, who served as Interim CFO, will step down from this role but continue as Vice President Finance – Infrastructure Solutions at Astec. CEO Jaco van der Merwe expressed confidence in Harris's leadership and industry experience, stating that his addition will help guide Astec's finance organization and contribute to the company's future growth.
Astec Industries, Inc. (NASDAQ: ASTE) is set to participate in the Sidoti Small-Cap Virtual Investor Conference on September 19, 2024. The company's presentation is scheduled for 10:00 a.m. Eastern Daylight Time. Key executives, including CEO Jaco van der Merwe, Interim CFO Heinrich Jonker, and SVP of Administration and Investor Relations Steve Anderson, will lead the presentation and host one-on-one meetings with investors.
The event will be accessible via a live webinar, with registration available through Sidoti's website. Astec Industries will also conduct virtual one-on-one sessions with investors on the same day. This conference provides an opportunity for investors to gain insights into Astec's operations and strategy directly from its leadership team.
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.
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