Astec Industries Inc - ASTE STOCK NEWS

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.

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.