secwatch.observer — SEC 8-K summary
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Issuer:     ASTEC INDUSTRIES INC (ASTE)
CIK:        0000792987
Form:       8-K
Filed at:   2022-08-02T23:59:59+00:00
Accession:  0000792987-22-000045
Event type: earnings
Sentiment:  negative
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/792987/000079298722000045/0000792987-22-000045-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/792987/000079298722000045/aste-20220802.htm
  HTML page:      https://secwatch.observer/filing/0000792987-22-000045

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