secwatch.observer — SEC 8-K summary
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Issuer:     ASTEC INDUSTRIES INC (ASTE)
CIK:        0000792987
Form:       8-K
Filed at:   2022-11-02T23:59:59+00:00
Accession:  0000792987-22-000052
Event type: earnings
Sentiment:  negative
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/792987/000079298722000052/0000792987-22-000052-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/792987/000079298722000052/aste-20221102.htm
  HTML page:      https://secwatch.observer/filing/0000792987-22-000052

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