Astec Q3 net sales +18.1% but EPS drops to $0.03; backlog up 56.2%

ASTEC INDUSTRIES INC

2022-Q3 EPS reported $0.04 revenue$924,600,000

Net sales $315.2M (+18.1% YoY); gross margin fell 250 bps to 20.7% on supply chain inefficiencies.
Diluted EPS $0.03 (vs $0.39); adjusted EPS $0.28 (vs $0.48); net income $0.7M vs $9.0M.
Backlog $969.0M (+56.2% YoY); domestic backlog $812.7M (+59.8%).
Operating cash flow negative $56.8M YTD due to working capital build; balance sheet cash $20.8M.
Repurchased $6.1M of shares; declared $0.12 dividend; remaining buyback authorization $119.7M.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

ASTEC INDUSTRIES INC reported financial results for the three and nine months ended September 30, 2022.

Period: the three and nine months ended September 30, 2022
Result: reported results

Exact text from the filing

On November 2, 2022, Astec Industries, Inc. (the "Company") reported results of operations for the three and nine months ended September 30, 2022.

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Earnings Releases SEC 8-K Item 2.02 confidence 0.95

ASTEC INDUSTRIES INC reported the third quarter of 2022 results: revenue $315.2 million, net income $0.7 million, EPS $0.03.

Period: the third quarter of 2022
Revenue: $315.2 million
Net income: $0.7 million
EPS: $0.03
Result: reported results

Exact text from the filing

NEWS RELEASE ASTEC REPORTS THIRD QUARTER 2022 RESULTS Third Quarter 2022 Highlights (all comparisons are made to the prior year third quarter) : • Net sales increased 18.1% to $315.2 million • Gross Profit Margin of 20.7% decreased 250 bps • Backlog increased 56.2% to $969.0 million • Repurchased $6.1 million of shares CHATTANOOGA, Tenn. (November 2, 2022) – Astec

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Source: SEC EDGAR

accession 0000792987-22-000052

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