Astec Q2 net sales record $350M (+10%); adjusted EPS $0.87 vs $0.19 YoY

ASTEC INDUSTRIES INC

2023-Q2 EPS reported $1.11 revenue$697,900,000

Record net sales of $350.0M, up 10.0% YoY; diluted EPS of $0.58 vs $(0.17) in Q2 2022.
Adjusted EPS of $0.87, up 357.9% from $0.19; adjusted EBITDA of $32.2M (+143.9%).
Infrastructure Solutions net sales $218.1M (+4.1%); Materials Solutions $130.2M (+21.2%).
Backlog declined to $688.8M (-17.7%) as sales outpaced orders; supply chain improving.
Operating margin 4.9%, up 540 bps; company reaffirms ERP implementation on schedule.

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 0.98

ASTEC INDUSTRIES INC reported three and six months ended June 30, 2023 results: revenue $350.0 million, net income $13.1 million, EPS $0.58.

Period: three and six months ended June 30, 2023
Revenue: $350.0 million
Net income: $13.1 million
EPS: $0.58
Result: reported results

Exact text from the filing

ASTEC REPORTS SECOND QUARTER 2023 RESULTS Second Quarter 2023 Highlights (all comparisons are made to the prior year second quarter) : • Record net sales increased 10.0% to $350.0 million • Operating margin of 4.9% increased 540 bps • Diluted EPS of $0.58 compared to $(0.17); Adjusted EPS of $0.87 compared to $0.19 • Execution of multi-year ERP implementation on

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Source: SEC EDGAR

accession 0000792987-23-000063

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