secwatch.observer — SEC 8-K summary
======================================

Issuer:     ASTEC INDUSTRIES INC (ASTE)
CIK:        0000792987
Form:       8-K
Filed at:   2022-05-04T23:59:59+00:00
Accession:  0000792987-22-000023
Event type: earnings
Sentiment:  negative
Materiality: 0.70
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

- 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.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/792987/000079298722000023/0000792987-22-000023-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/792987/000079298722000023/aste-20220504.htm
  HTML page:      https://secwatch.observer/filing/0000792987-22-000023

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer