Astec reports preliminary Q4 2021 revenue up 12% to $267.8M; gross margin down 350 bps

ASTEC INDUSTRIES INC

2021-FY EPS reported $0.78 revenue$1,097,200,000

Preliminary Q4 2021 revenue of $267.8M, up 12.1% YoY; record backlog achieved.
Gross profit margin fell ~350 bps vs Q4 2020 due to supply chain disruptions, labor restrictions, and inflation.
Manufacturing challenges and higher expenses to meet demand are persisting into Q1 2022.
Company to report final Q4 and full year 2021 results on February 28, 2022.

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