Astec Q2 net loss $3.9M; sales up 14.6% to $318.2M; backlog record $837.4M

ASTEC INDUSTRIES INC

2022-Q2 EPS reported $0.01 revenue$609,400,000

Net loss of $3.9M vs income of $8.3M; diluted EPS $(0.17) vs $0.36; adjusted EPS $0.19 vs $0.46.
Gross margin 19.0% down 480 bps; operating loss $4.0M vs income $10.3M; adjusted operating income $6.6M.
Record backlog $837.4M, up 92% YoY; domestic backlog up 108.1% to $705.1M.
Acquired MINDS Automation Group in April 2022; transformation program costs $6.4M in Q2.
Supply chain disruptions and inflation pressured margins; long-term demand supported by IIJA.

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