Astec Industries Inc - ASTE STOCK NEWS

Astec Industries is rebranding to unify its subsidiaries under one name, ASTEC, enhancing its business model. This initiative includes a new logo and website, aiming to streamline operations and improve customer engagement. Formerly separate brands like Astec Inc., Astec do Brasil, and others will now operate collectively. This move aligns with the company's OneASTEC strategy, promoting efficiency and innovation. The updated website will serve as a centralized resource for dealers and customers, consolidating information about ASTEC's products and services.

Astec Industries reported a 1.5% decline in net sales, totaling $284.4 million, for Q1 2021 compared to Q1 2020. Domestic sales fell by 3.5%, while international sales rose by 6.9%. Net income decreased 57.8% to $8.7 million, with diluted EPS dropping to $0.38. The backlog increased significantly by 71.5% to $420.8 million. Despite operational challenges from shifting production and rising steel prices, management remains optimistic about future infrastructure investments.

Astec Industries, Inc. (NASDAQ:ASTE) will hold a conference call on May 5, 2021, at 10:00 A.M. Eastern Time to discuss its First Quarter financial results. The financial results will be released at 7:00 A.M. the same day. Key executives, including President Barry A. Ruffalo and CFO Rebecca A. Weyenberg, will host the call. Call participants can access the call by phone or through a live webcast. A replay will be available post-call, and a transcript will be posted on the company's website within five business days.

Astec Industries (Nasdaq: ASTE) announced its participation in the Sidoti & Company Virtual Investor Conference scheduled for March 25, 2021. Key executives, including Barry A. Ruffalo, Rebecca A. Weyenberg, and Stephen C. Anderson, will present and engage in one-on-one meetings to discuss the company's prospects. The conference will be held online to ensure participant safety amid the ongoing COVID-19 pandemic. The Astec presentation will occur from 8:30 to 9:00 AM Eastern. For access, visit the provided link.

Astec Industries reported fourth quarter 2020 financial results, revealing a 15.6% decline in net sales to $238.9 million. Despite reduced sales due to COVID-19, net income surged 183.7% to $15.4 million, and diluted EPS rose to $0.67. Gross profit margin improved significantly to 23.8%, reflecting enhanced operational efficiencies. The company's backlog increased by 36.7% to $360.5 million, indicating strong future demand. Full-year net sales were $1.0 billion, down 12.4% year-over-year, but adjusted EPS rose 53.5%.

Astec Industries (NASDAQ:ASTE) announced a conference call to discuss their Fourth Quarter and 2020 year-end financial results on March 1, 2021, at 10:00 A.M. ET. The financial results will be released the same day at 7:00 A.M. ET. Key executives, including CEO Barry A. Ruffalo and CFO Rebecca A. Weyenberg, will host the call. To participate, callers must dial in 10 minutes early, with an option for international callers. A replay will be accessible until March 15, 2021, with a transcript available post-call on Astec's Investor Relations website.

Astec Industries, Inc. (Nasdaq: ASTE) will participate in the Sidoti & Company Virtual Investor Conference on January 13, 2021. CEO Barry A. Ruffalo and Senior VP of Investor Relations Stephen C. Anderson will represent the company. This virtual-only event is designed to ensure safety amid the COVID-19 pandemic. Astec specializes in manufacturing equipment for asphalt road building, aggregate processing, and concrete production, operating in two main segments: Infrastructure Solutions and Materials Solutions.

Astec Industries, Inc. (NASDAQ: ASTE) recently held its inaugural virtual Investor Day, where CEO Barry Ruffalo outlined the company's strategic direction and the OneASTEC Business Model, aimed at driving profitable growth. The company aims for 5%-10% revenue growth, an EBITDA margin of over 12%, and EPS growth exceeding 10%. Despite challenges posed by the COVID-19 pandemic, Astec reported improved profitability. The event emphasized Astec's commitment to enhancing its operational and financial performance through its Simplify, Focus and Grow strategy.

Astec Industries will present at the Baird Global Industrials Conference 2020 on November 10, 2020. Key executives, including President and CEO Barry A. Ruffalo, CFO Becky A. Weyenberg, and SVP of Investor Relations Stephen C. Anderson, will participate. Due to COVID-19, the event will be held virtually, ensuring the safety of all participants. The webcast starts at 7:55 AM ET and will be accessible to the public.

For more details, visit the webcast link.