Astec Q1 net income down 51.8% to $4.1M; backlog hits record $834.7M

ASTEC INDUSTRIES INC

2022-Q1 EPS reported $0.18 revenue$291,200,000

Net sales $291.2M, +2.4% YoY; domestic sales +3.9%, international -3.6%.
Diluted EPS $0.18 vs $0.37; adjusted EPS $0.41 vs $0.50; adjusted net income $9.4M, -18.3%.
Record backlog $834.7M (+98.4% YoY) driven by 119% domestic increase.
Acquired MINDS Automation Group in April 2022; plant automation control systems.
Operating margin fell to 1.9% from 3.3%; supply chain and inflation headwinds continue.

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