Astec Q4 net sales up 31% to $349.9M; adjusted EPS $0.34 vs loss of $(0.06)

ASTEC INDUSTRIES INC

2022-FY EPS reported $0.00 revenue$1,274,500,000

Net sales $349.9M (+31.2% YoY); backlog $912.7M (+19.7%).
GAAP diluted EPS loss $(0.04) vs $(0.44); adjusted EPS $0.34 vs $(0.06) loss.
Infrastructure Solutions net sales $238.4M (+27.1%); Materials Solutions $109.8M (+39.0%).
CEO transition: Barry Ruffalo terminated Jan 6, 2023; Jaco van der Merwe succeeded; $4.4M restructuring costs in Q4.
Cash $66.0M (-50.9% YoY); operating cash flow -$73.9M; repurchased $4M shares; dividend $0.13.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.95

ASTEC INDUSTRIES INC reported three months and year ended December 31, 2022 results: revenue $349.9 million, net income $(1.0) million, EPS $(0.04) per diluted share.

Period: three months and year ended December 31, 2022
Revenue: $349.9 million
Net income: $(1.0) million
EPS: $(0.04) per diluted share
Result: reported results

Exact text from the filing

RELEASE ASTEC REPORTS FOURTH QUARTER 2022 RESULTS Fourth Quarter 2022 Highlights (all comparisons are made to the prior year fourth quarter) : • Net sales increased 31.2% to $349.9 million • Operating margin of 0.9% increased 320 bps • Diluted loss per share of $(0.04) compared to $(0.44); Adjusted EPS of $0.34 compared to a loss of $(0.06) per share • Backlog

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Source: SEC EDGAR

accession 0000792987-23-000009

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