Investors in Astec Industries, Inc. (ASTE) need to pay close attention to the stock based on moves in the options market lately. That is because the Dec 20, 2024 $22.5 Put had some of the highest implied volatility of all equity options today.What is Implied Volatility?Implied volatility shows how much movement the market is expecting in the future. Options with high levels of implied volatility suggest that investors in the underlying stocks are expecting a big move in one direction or the other. It could ...

CHATTANOOGA, Tenn., June 24, 2024 (GLOBE NEWSWIRE) --  The Rosen Law Firm, P.A. announces that the United States District Court for the Eastern District of Tennessee has approved the following announcement of a proposed class action settlement that would benefit purchasers of publicly-traded Astec Industries, Inc. common stock (NASDAQ: ASTE): SUMMARY NOTICE OF PENDENCY AND PROPOSED CLASS ACTION SETTLEMENT TO:        ALL PERSONS WHO PURCHASED PUBLICLY-TRADED ASTEC INDUSTRIES, INC. (“ASTEC”) COMMON STOCK BETW ...

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. Eas ...

Astec Industries, Inc. (ASTE) reported first-quarter 2024 adjusted earnings per share of 34 cents, missing the Zacks Consensus Estimate of 87 cents. The bottom line also marked a 62% decline from earnings per share of 90 cents in the prior-year quarter.Including one-time items, the company’s earnings of 15 cents per share in the quarter under review compared with earnings of 53 cents in the year-ago quarter.Revenues & BacklogAstec’s revenues decreased 11.1% year over year to $309 million in the quarter unde ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2024 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _____ to _____ Commission File Number: 001-11595 Astec Industries, Inc. (Exact name of registrant as specified in its charter) Tennessee 62-0873631 (State or ...

Astec Industries, Inc. (NASDAQ:ASTE) Q1 2024 Earnings Conference Call May 1, 2024 8:30 AM ET Company Participants Steve Anderson - Senior VP of Administration and IR Jaco van der Merwe - CEO Heinrich Jonker - Interim CFO Conference Call Participants Stanley Elliott - Stifel Mig Dobre - Baird Stephen Ferazani - Sidoti Brian Sponheimer - Gabelli Funds Operator Hello, and welcome to Astec Industries First Quarter Earnings Call. As a reminder, this conference call is being recorded. It is my pleasure to introdu ...

Sales Performance - Net sales decreased 11.1% to $309.2 million, with domestic sales down 13.5% and international sales down 0.9%[3] - Net sales for Q1 2024 decreased to $309.2 million, down 11.1% from $347.9 million in Q1 2023[17] - Infrastructure Solutions segment net sales declined by 6.2% to $202.2 million, while Materials Solutions segment net sales dropped 19.1% to $107.0 million[19] - Net sales for Q1 2024 were $309.2 million, a decrease from $347.9 million in Q1 2023[32] Backlog and Orders - Backlog decreased 30.0% to $559.8 million, with domestic backlog down 36.2% and international backlog up 6.6%[3] - Implied orders increased 2.4% sequentially from the fourth quarter[1] Earnings and Profitability - Diluted EPS of $0.15 compared to $0.53; Adjusted EPS of $0.34 compared to $0.90[1] - Net income attributable to controlling interest fell to $3.4 million in Q1 2024, compared to $12.1 million in Q1 2023[17] - Segment Operating Adjusted EBITDA decreased by 46.0% to $18.9 million in Q1 2024 from $35.2 million in Q1 2023[19] - Net income attributable to controlling interest for Q1 2024 was $3.4 million, compared to $12.1 million in Q1 2023[30] - Adjusted net income attributable to controlling interest for Q1 2024 was $7.8 million, down from $20.5 million in Q1 2023[30] - Diluted EPS for Q1 2024 was $0.15, compared to $0.53 in Q1 2023[30] - Adjusted EPS for Q1 2024 was $0.34, down from $0.90 in Q1 2023[30] - EBITDA for Q1 2024 was $13.4 million, compared to $24.3 million in Q1 2023[32] - EBITDA margin for Q1 2024 was 4.3%, down from 7.0% in Q1 2023[32] - Adjusted EBITDA for Q1 2024 was $18.9 million, compared to $35.2 million in Q1 2023[32] - Adjusted EBITDA margin for Q1 2024 was 6.1%, down from 10.1% in Q1 2023[32] Segment Performance - Infrastructure Solutions net sales decreased 6.2% to $202.2 million, with Segment Operating Adjusted EBITDA margin decreasing 50 basis points to 12.7%[6] - Materials Solutions net sales decreased 19.1% to $107.0 million, with Segment Operating Adjusted EBITDA margin decreasing 600 basis points to 5.0%[7] Liquidity and Financial Position - Total liquidity was $170.5 million, consisting of $55.3 million in cash and cash equivalents and $115.2 million available under the revolving credit facility[8] - Total assets increased to $1,123.0 million as of March 31, 2024, up from $1,059.3 million at the end of 2023[24] - Long-term debt rose to $125.0 million as of March 31, 2024, compared to $72.0 million at the end of 2023[24] - Net cash used in operating activities was $47.0 million in Q1 2024, compared to $19.2 million in Q1 2023[26] - Cash, cash equivalents and restricted cash decreased to $58.1 million at the end of Q1 2024 from $63.2 million at the end of 2023[29] Capital Expenditures and Investments - Capital expenditure investments to increase capacity and improve efficiency were $5.8 million[9] Restructuring and Transformation Costs - Transformation program costs were $6.3 million in Q1 2024, down from $7.2 million in Q1 2023[23] - Restructuring and other related charges decreased to $0.1 million in Q1 2024 from $7.1 million in Q1 2023[23] Industry and Market Trends - Federal highway and pavement contract awards increased 11% year-over-year[1] - Record attendance at 2024 World of Asphalt/Agg1 trade show, with a 38% increase over the previous record set in 2022[4]

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, He ...

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, He ...

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