Highest-materiality recent filing
Astec Q2 sales up 23.6% to $408M; cuts FY 2026 adjusted EBITDA guidance to $160-175M
Net sales $408.1M (+23.6% YoY); GAAP diluted EPS $0.45, adjusted EPS $0.94.
Astec appoints William Waltz as independent director, effective Oct 29, 2026
Board size increased from 9 to 10; Waltz fills new seat as independent director.
Astec Q1 net sales up 20% to $396.3M but GAAP EPS slumps 90% to $0.06
Net sales $396.3M (+20.3% YoY) driven by 70.6% jump in Materials Solutions to $159.3M.
Astec shareholders elect Jain, van der Merwe as directors; approve say-on-pay and ratify Deloitte
Nalin Jain elected with 19,496,403 for, 412,075 withheld; Jaco G. van der Merwe elected with 19,776,559 for, 131,919 withheld.
Astec appoints Chad Hartley as Group President – Infrastructure Solutions replacing Barend Snyman
Chad Hartley will join Astec as Group President – Infrastructure Solutions and member of Executive Leadership Team effective May 11, 2026.
Astec reports Q4 record sales of $400.6M; adjusted EBITDA up 25.8% for full year 2025
Q4 net sales $400.6M (record), net income $12.0M; diluted EPS $0.52, adjusted EPS $1.06.
Astec Q3 net loss $4.2M but adjusted EPS $0.47; raises FY adjusted EBITDA guidance low end to $132M
Net sales $350.1M (+20.1% YoY); Infrastructure Solutions up 17.1%, Material Solutions up 24.1% on TerraSource acquisition.
Astec provides TerraSource FY2024 audited financials; revenue $164.3M, net income $8.7M
TerraSource FY2024 revenue $164.3M; net income $8.7M; total assets $145.0M at Dec 31, 2024.
Net sales $330.3M (-4.4% YoY); net income $16.7M vs $14.0M loss YoY; adjusted EPS $0.88.
Astec completes $245M acquisition of TerraSource; expects $10M annual synergies
Acquisition of TerraSource completed for $245M cash; net purchase price $230M after ~$15M NPV of tax benefits.
Astec to acquire TerraSource Holdings for $245M in cash-free, debt-free deal
Total consideration of $245M on a cash-free, debt-free basis, subject to customary purchase price adjustments.
Astec Q1 net sales $329.4M, net income $14.3M; agrees to buy TerraSource for $245M cash
Diluted EPS $0.62 (vs $0.15); adjusted EPS $0.88; net income up 320% YoY.
Astec shareholders elect three directors and approve 2025 Equity Incentive Plan at annual meeting
Tracey H. Cook, Mary L. Howell, and Linda I. Knoll elected as directors for three-year terms.
Astec reports record Q4 net sales of $359M, adjusted EPS of $1.19, guides 2025 adj. EBITDA $105-125M
Q4 net sales $359.0M (+6.5% YoY); GAAP net income $21.1M ($0.92 EPS); adjusted net income $27.2M ($1.19 EPS).
Astec adopts new Executive Severance Plan effective Jan 2025; two-tier benefits
Named officers: Jaco van der Merwe (Tier I), Brian Harris, Michael Norris, Ben Snyman (Tier II).
Astec's VP & Chief Accounting Officer Jamie Palm to resign Dec 27; CFO Harris to assume role
Jamie E. Palm resigns as VP, Chief Accounting Officer and Corporate Controller, effective Dec 27, 2024.
Astec Q3 net loss of $6.2M; adjusted EPS $0.31 vs -$0.01 YoY
Net sales of $291.4M, down 3.9% YoY; net loss $6.2M includes $8.4M litigation settlement charge.
Astec appoints Brian J. Harris as CFO effective October 7, 2024
Harris previously served as EVP and CFO of Summit Materials (2013-2023), Bausch + Lomb, and Gates Corp.
Astec reports Q2 GAAP loss of $(0.61)/share; adjusted EPS $0.61; sales down 1.3%
GAAP diluted EPS $(0.61) vs $0.58 prior year; includes $0.89/share goodwill impairment charge.
Astec Q1 net sales down 11%; diluted EPS $0.15 vs $0.53 YoY
Net sales $309.2M, down 11.1% YoY; backlog $559.8M, down 30%.
Astec shareholders elect directors, approve say-on-pay, ratify auditor at 2024 annual meeting
Four director nominees elected: Gliebe (18.94M for), Winford (18.60M), Jackson (15.00M), Shannon (19.09M).
Astec CFO Rebecca Weyenberg steps down; Heinrich Jonker appointed interim CFO
Rebecca Weyenberg resigned as CFO effective March 2, 2024; will remain on advisory basis through April 30.
Astec Q4 EPS $0.65, adjusted $0.90; gross margin up 610 bps to 26.4%
Q4 net sales $337.2M (-3.6% YoY); FY net sales $1.34B (+5.0%).
Astec adds two independent directors; board expands to 11
William Bradley Southern retired from the board effective January 18, 2024, with no disagreement.
Astec Group President Timothy Averkamp resigns effective Nov 24, 2023
Timothy A. Averkamp, Group President, notified resignation on Nov 10, 2023.
Astec Q3 net sales down 3.8%; diluted EPS loss of $0.29 due to $6.4M litigation charge
Net sales $303.1M (-3.8% YoY); diluted EPS $(0.29) vs $0.03; adjusted EPS $(0.01) vs $0.28.
Astec Q2 net sales record $350M (+10%); adjusted EPS $0.87 vs $0.19 YoY
Record net sales of $350.0M, up 10.0% YoY; diluted EPS of $0.58 vs $(0.17) in Q2 2022.
Astec director Glen Tellock retires; James Winford elected to board
Glen Tellock retired as director effective July 27, 2023, after 17 years of service; no disagreement with company.
Astec Industries General Counsel Anshu Pasricha departs effective May 8, 2023
Anshu Pasricha's employment as General Counsel, Corporate Secretary & Chief Compliance Officer terminated effective May 8, 2023.
Astec Q1 net sales up 19.5% to $347.9M; adjusted EPS $0.90 vs $0.41 YoY
Net sales $347.9M (+19.5% YoY); domestic +20.0%, international +17.5%.
Astec shareholders elect directors, approve advisory say-on-pay and auditor ratification
Elected directors Gehl, Gliebe, Jain, van der Merwe with between 14.8M and 16.0M votes for.
Astec Industries dismisses KPMG, appoints Deloitte as new auditor
KPMG dismissed effective March 2, 2023; audit reports for 2022 and 2021 contained no adverse opinions or modifications.
Astec Q4 net sales up 31% to $349.9M; adjusted EPS $0.34 vs loss of $(0.06)
Net sales $349.9M (+31.2% YoY); backlog $912.7M (+19.7%).
Astec CEO Barry Ruffalo steps down; Jaco van der Merwe named President and CEO
Barry Ruffalo terminated as CEO without cause effective Jan 6, 2023; entitled to severance plus 2022 incentive at committee discretion.
Astec amends bylaws to update shareholder meeting procedures and nomination requirements
Annual meeting date now set by Board, Chairman, President or Secretary; remote meetings permitted.
Astec enters $250M revolving credit facility, repays prior $150M facility
Revolving credit facility of $250M plus incremental facility up to $125M, maturing Dec 19, 2027.
Astec adds two independent directors: Mark Gliebe and Nalin Jain; board grows to 12
Mark Gliebe (former Regal Rexnord CEO) and Nalin Jain (Wabtec President) elected independent directors effective Nov 10, 2022.
Astec Q3 net sales +18.1% but EPS drops to $0.03; backlog up 56.2%
Net sales $315.2M (+18.1% YoY); gross margin fell 250 bps to 20.7% on supply chain inefficiencies.
Astec Q2 net loss $3.9M; sales up 14.6% to $318.2M; backlog record $837.4M
Net loss of $3.9M vs income of $8.3M; diluted EPS $(0.17) vs $0.36; adjusted EPS $0.19 vs $0.46.
Astec declares $0.12 quarterly dividend, payable Aug 29
Quarterly cash dividend of $0.12 per share declared on July 28, 2022.
Astec Q1 net income down 51.8% to $4.1M; backlog hits record $834.7M
Net sales $291.2M, +2.4% YoY; domestic sales +3.9%, international -3.6%.
Astec declares $0.12 quarterly dividend, annual meeting votes elect directors
Quarterly cash dividend of $0.12 per share, payable May 27, 2022 to holders of record May 13.
Astec declares $0.12 quarterly dividend, payable March 31, 2022
Board declared a quarterly cash dividend of $0.12 per share on Feb 25, 2022.
Astec reports Q4 net loss of $9.2M, diluted EPS $(0.40); backlog hits record $762.6M
Q4 net sales $267.8M (+12.1% YoY) but net loss of $9.2M vs profit of $15.4M a year ago.
Astec reports preliminary Q4 2021 revenue up 12% to $267.8M; gross margin down 350 bps
Preliminary Q4 2021 revenue of $267.8M, up 12.1% YoY; record backlog achieved.
Astec enters new severance agreements with CEO and four officers, enhancing benefits
CEO Ruffalo gets 2x base salary plus target bonus severance; other officers get 1.5x.
Astec Q3 net sales $267M (+15% YoY); EPS $0.41 vs $0.07; backlog record $620.5M
Net sales $267.0M, +15.4% YoY; gross margin 23.3% (+160 bps).
Astec declares $0.12 quarterly dividend; payable Dec 2, record Nov 10
Quarterly cash dividend of $0.12 per common share declared.
Astec Q2 net sales up 4.8% to $278M; adjusted EPS down 26.9% to $0.49
Net sales $278.0M (+4.8% YoY); international sales up 75.7% to $33.0M.
Astec declares $0.11 quarterly dividend payable Aug 31, 2021
Board declared $0.11 per share quarterly cash dividend on July 27, 2021.
Heinrich Jonker will step down from his role as Interim Chief Financial Officer and will continue to serve as Vice President Finance – Infrastructure Solutions of the Company.
Brian J. Harris has been appointed as Chief Financial Officer of the Company, effective October 7, 2024
On March 2, 2024, Rebecca A. Weyenberg, Chief Financial Officer of Astec Industries, Inc. (the “Company”), notified the Company that she is stepping down as CFO of the Company.
The Company has appointed Heinrich Jonker, the Company’s Vice President Finance – Infrastructure Solutions, as its CFO on an interim basis, effective immediately, until a permanent successor is appointed.
On January 18, 2024, the Board appointed Patrick S. Shannon and Jeffrey T. Jackson to the Board, effective immediately.
On January 18, 2024, William Bradley Southern notified the Board of Directors (the "Board") of Astec Industries, Inc. (the "Company") that he will be retiring as a member of the Board, effective immediately.
On January 18, 2024, the Board appointed Patrick S. Shannon and Jeffrey T. Jackson to the Board, effective immediately.
On November 10, 2023, Timothy A. Averkamp, Group President of Astec Industries, Inc. (the "Company"), notified the Company that he intends to resign from the Company effective November 24, 2023.
On July 27, 2023, the Board elected James Winford to the Board, effective immediately.
On July 26, 2023, Glen Tellock notified the Board of Directors (the "Board") of Astec Industries, Inc. (the "Company") that he would be retiring as a director of the Company, effective July 27, 2023.
Effective as of May 8, 2023, the employment of Anshu Pasricha, General Counsel, Corporate Secretary & Chief Compliance Officer of Astec Industries, Inc. (the “Company”), terminated.
the Board appointed Jaco van der Merwe, the Company’s current Group President – Infrastructure Solutions, as President and Chief Executive Officer, effective immediately.
Max materiality 0.85 · Median 0.68 · Most common event earnings