secwatch.observer — SEC 8-K summary
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Issuer:     ASTEC INDUSTRIES INC (ASTE)
CIK:        0000792987
Form:       8-K
Filed at:   2023-11-01T23:59:59+00:00
Accession:  0000792987-23-000071
Event type: earnings
Sentiment:  negative
Materiality: 0.70
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Astec Q3 net sales down 3.8%; diluted EPS loss of $0.29 due to $6.4M litigation charge
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- Net sales $303.1M (-3.8% YoY); diluted EPS $(0.29) vs $0.03; adjusted EPS $(0.01) vs $0.28.
- Gross margin improved 220 bps to 23.0%, but operating margin fell to -1.7% due to $6.4M litigation loss contingency.
- Backlog $614.7M, down 36.6% from peak $969M, as order patterns normalize.
- Year-to-date net sales up 8.3% to $1.0B; year-to-date adjusted EPS $1.77 vs $0.88.
- Dividend of $0.13 per share paid; capital expenditures $7.9M.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/792987/000079298723000071/0000792987-23-000071-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/792987/000079298723000071/aste-20231101.htm
  HTML page:      https://secwatch.observer/filing/0000792987-23-000071

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