Astec reports Q2 GAAP loss of $(0.61)/share; adjusted EPS $0.61; sales down 1.3%

ASTEC INDUSTRIES INC

2024-Q2 EPS reported -$0.47 revenue$654,700,000

GAAP diluted EPS $(0.61) vs $0.58 prior year; includes $0.89/share goodwill impairment charge.
Net sales $345.5M, down 1.3% YoY; Infrastructure Solutions +11%, Materials Solutions -17.7%.
Backlog $531.1M, down 22.9% YoY; implied orders up 5.9% sequentially.
Adjusted EBITDA $27.6M, margin 8.0% vs 9.2% prior year.
ERP project cost range $180-200M, scope reduced to North America only, peaked in 2024.

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