Astec Q1 net sales up 19.5% to $347.9M; adjusted EPS $0.90 vs $0.41 YoY

ASTEC INDUSTRIES INC

2023-Q1 EPS reported $0.53 revenue$347,900,000

Net sales $347.9M (+19.5% YoY); domestic +20.0%, international +17.5%.
Diluted EPS $0.53 vs $0.18; adjusted EPS $0.90 vs $0.41; operating margin 5.1% (+370 bps).
Infrastructure Solutions sales $229.9M (+16.4%); Materials Solutions sales $113.9M (+21.6%).
Backlog $800.2M (-4.1% YoY); balance sheet cash $42.5M (-62%); dividend $0.13/share.
ERP implementation on schedule; transformation costs $8.4M after-tax excluded from adjusted EPS.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

ASTEC INDUSTRIES INC reported the three months ended March 31, 2023 results: revenue $347.9 million, net income $12.1 million, EPS $0.53.

Period: the three months ended March 31, 2023
Revenue: $347.9 million
Net income: $12.1 million
EPS: $0.53
Result: reported results

Exact text from the filing

NEWS RELEASE ASTEC REPORTS FIRST QUARTER 2023 RESULTS First Quarter 2023 Highlights (all comparisons are made to the prior year first quarter) : • Net sales increased 19.5% to $347.9 million • Operating margin of 5.1% increased 370 bps • Diluted EPS of $0.53 compared to $0.18; Adjusted EPS of $0.90 compared to $0.41 • Initial execution of multi-year ERP

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Source: SEC EDGAR

accession 0000792987-23-000041

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