secwatch.observer — SEC 8-K summary
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Issuer:     ASTEC INDUSTRIES INC (ASTE)
CIK:        0000792987
Form:       8-K
Filed at:   2024-08-07T23:59:59+00:00
Accession:  0000792987-24-000041
Event type: earnings
Sentiment:  negative
Materiality: 0.80
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/792987/000079298724000041/0000792987-24-000041-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/792987/000079298724000041/aste-20240807.htm
  HTML page:      https://secwatch.observer/filing/0000792987-24-000041

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