ASTEC INDUSTRIES INC reported three months ended March 31, 2026 results: revenue $396.3 million, net income $1.3 million, EPS $0.06. Guidance reaffirmed.
“FIRST QUARTER 2026 RESULTS First Quarter 2026 Overview (all comparisons are made to the corresponding prior year first quarter unless otherwise specified) : • Net sales of $396.3 million • Net income of $1.3 million; Adjusted net income of $12.5 million • EBITDA of $23.6 million; Adjusted EBITDA of $30.3 million • Diluted EPS of $0.06; Adjusted EPS of $0.54 •”
Debt Financings
ASTEC INDUSTRIES INC incurred credit facility of $600,000,000 with Wells Fargo Bank, National Association, as administrative agent, and the lenders party thereto from time to time at Term SOFR plus an applicable margin ranging between 1.75% and 2.75% per annum, o maturing July 1, 2030.
“Simultaneously with the Closing, on July 1, 2025 (the “Financing Effective Date”), the Company entered into a credit agreement (the “Credit Agreement”) that provides for (i) a revolving credit facility, a term loan facility, a swingline facility and a letter of credit facility, in an initial aggregate amount of up to $600,000,000, and (ii) an incremental facilities limit in an aggregate amount not to exceed $150,000,000 (collectively, the “Credit Facilities”).”
M&A Transactions
ASTEC INDUSTRIES INC completed an acquisition involving TerraSource Holdings, LLC (Sellers: RLI TSG Holdings LLC, Milacron LLC, and others) for $245.0 million in cash on a cash-free, debt-free basis (closed 2025-07-01).
“its previously announced Acquisition of TerraSource pursuant to the Purchase Agreement. The total consideration delivered at the Closing by the Company to the Sellers was $245.0 million in cash on a cash-free, debt-free basis, subject to a customary purchase price adjustment, as set forth in the Purchase Agreement. The Company financed the Acquisition and”
Heinrich Jonker changed role as Vice President Finance – Infrastructure Solutions at ASTEC INDUSTRIES INC.
“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 was appointed as Chief Financial Officer at ASTEC INDUSTRIES INC.
“Brian J. Harris has been appointed as Chief Financial Officer of the Company, effective October 7, 2024”
Earnings Releases
ASTEC INDUSTRIES INC reported first quarter ended March 31, 2024 results: revenue $309.2 million, net income $3.4 million, EPS $0.15.
“Implied orders increased 2.4% sequentially from the fourth quarter. • Backlog of $559.8 million as of March 31, 2024 approaching historical range. • Net sales decreased 11.1% to $309.2 million. • Gross margin of 24.9% decreased 70 basis points. • Diluted EPS of $0.15 compared to $0.53; Adjusted EPS of $0.34 compared to $0.90. • Federal highway and pavement contract”
Shareholder Votes
ASTEC INDUSTRIES INC shareholders approved Ratification of the appointment of Deloitte & Touche LLP as the Company’s independent registered public accounting firm for the calendar year 2024 at the 2024-04-25 meeting.
“(c) The Company’s shareholders ratified the appointment of Deloitte & Touche LLP as the Company’s independent registered public accounting firm for the calendar year 2024. The voting results were as follows: Votes For Votes Against Abstain 20,359,936 44,881 83,398”
Shareholder Votes
ASTEC INDUSTRIES INC shareholders approved Advisory approval of the compensation of the Company’s named executive officers at the 2024-04-25 meeting.
“(b) The Company’s shareholders, approved on an advisory basis, the compensation of the Company’s named executive officers. The voting results were as follows: Votes For Votes Against Abstain Broker Non-Votes 18,914,350 210,426 105,218 1,258,221”
Shareholder Votes
ASTEC INDUSTRIES INC shareholders approved Election of four director nominees for a term of three years at the 2024-04-25 meeting.
“(a) The Company’s shareholders elected the four director nominees listed below for a term of three years. The voting results were as follows: For Withheld Broker Non-Votes Mark J. Gliebe 18,935,648 294,347 1,258,220 James Winford 18,597,687 632,308 1,258,220 Jeffrey T. Jackson 15,003,193 4,226,802 1,258,220 Patrick S. Shannon 19,091,834 138,161 1,258,220”
Heinrich Jonker was appointed as Chief Financial Officer at ASTEC INDUSTRIES INC.
“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.”
Rebecca A. Weyenberg departed as Chief Financial Officer at ASTEC INDUSTRIES INC.
“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.”
Earnings Releases
ASTEC INDUSTRIES INC reported three months and year ended December 31, 2023 results: revenue Net sales decreased 3.6% to $337.2 million in the quarter. Full year net sales increased 5.0% to $1.3 billion., net income Net income (loss) attributable to controlling interest 14.9 (1.0) 1,590.0 % 33.5 (0.1) 33,600.0 %, EPS Diluted EPS of $0.65 compared to $(0.04) in the quarter; Full year diluted EPS of $1.47 compared to $0.00.
“RESULTS Fourth Quarter and Full Year 2023 Overview (all comparisons are made to the corresponding prior year fourth quarter or prior year, as applicable) : • Net sales decreased 3.6% to $337.2 million in the quarter. Full year net sales increased 5.0% to $1.3 billion. • Gross margin of 26.4% increased 610 basis points in the quarter. Full year gross margin”
Jeffrey T. Jackson was appointed as Director at ASTEC INDUSTRIES INC.
“On January 18, 2024, the Board appointed Patrick S. Shannon and Jeffrey T. Jackson to the Board, effective immediately.”
Patrick S. Shannon was appointed as Director at ASTEC INDUSTRIES INC.
“On January 18, 2024, the Board appointed Patrick S. Shannon and Jeffrey T. Jackson to the Board, effective immediately.”
William Bradley Southern retired as Director at ASTEC INDUSTRIES INC.
“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.”
Timothy A. Averkamp resigned as Group President at ASTEC INDUSTRIES INC.
“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.”
Earnings Releases
ASTEC INDUSTRIES INC reported three and nine months ended September 30, 2023 results: revenue Net sales decreased 3.8% to $303.1 million in the quarter. Year-to-date net sales increased 8.3% to $1.0 billion., net income Net (loss) income attributable to controlling interest (6.6) 0.7 (1,042.9) % 18.6 0.9 1,966.7 %, EPS Diluted EPS (0.29) 0.03 (1,066.7) % 0.82 0.04 1,950.0 %.
“2023 RESULTS Third Quarter 2023 Overview (all comparisons are made to the corresponding prior year third quarter or year-to-date period, as applicable) : • Net sales decreased 3.8% to $303.1 million in the quarter. Year-to-date net sales increased 8.3% to $1.0 billion. • Gross margin of 23.0% increased 220 basis points in the quarter. Year-to-date gross”
Earnings Releases
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.
“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”
James Winford was elected as Director at ASTEC INDUSTRIES INC.
“On July 27, 2023, the Board elected James Winford to the Board, effective immediately.”
Glen Tellock retired as Director at ASTEC INDUSTRIES INC.
“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.”
Anshu Pasricha was terminated as General Counsel, Corporate Secretary & Chief Compliance Officer at ASTEC INDUSTRIES INC.
“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.”
Earnings Releases
ASTEC INDUSTRIES INC reported the three months ended March 31, 2023 results: revenue $347.9 million, net income $12.1 million, EPS $0.53.
“NEWS RELEASE ASTEC REPORTS FIRST QUARTER 2023 RESULTS First Quarter 2023 Highlights (all comparisons are made to the prior year first quarter) : • Net sales increased 19.5% to $347.9 million • Operating margin of 5.1% increased 370 bps • Diluted EPS of $0.53 compared to $0.18; Adjusted EPS of $0.90 compared to $0.41 • Initial execution of multi-year ERP”
Shareholder Votes
ASTEC INDUSTRIES INC shareholders approved Ratification of the appointment of Deloitte & Touche LLP as the Company’s independent registered public accounting firm for 2023 at the 2023-04-25 meeting.
“(d) The Company’s shareholders ratified the appointment of Deloitte & Touche LLP as the Company’s independent registered public accounting firm for the calendar year 2023. The voting results were as follows: Votes For Votes Against Abstain 17,209,201 50,962 14,509”
Shareholder Votes
ASTEC INDUSTRIES INC shareholders approved Advisory approval of one year as the frequency for future advisory votes on named executive officer compensation at the 2023-04-25 meeting.
“(c) The Company’s shareholders, approved on an advisory basis, "one year" for the frequency with which shareholders will vote on a non-binding, advisory basis to approve the compensation of the Company’s named executive officers in future years. The voting results were as follows: Votes For "One Year" Votes For "Two Years" Votes For "Three Years" Abstain Broker Non-Votes 14,682,398 11,206 1,482,928 11,191 1,086,949”
Shareholder Votes
ASTEC INDUSTRIES INC shareholders approved Advisory approval of the compensation of the Company’s named executive officers at the 2023-04-25 meeting.
“(b) The Company’s shareholders, approved on an advisory basis, the compensation of the Company’s named executive officers. The voting results were as follows: Votes For Votes Against Abstain Broker Non-Votes 15,753,130 421,975 12,618 1,086,949”
Shareholder Votes
ASTEC INDUSTRIES INC shareholders approved Election of four director nominees: William D. Gehl (three-year term), Mark J. Gliebe (one-year term), Nalin Jain (three-year term), Jaco G. van der Merwe (three-year term) at the 2023-04-25 meeting.
“Item 5.07. Submission of Matters to a Vote of Security Holders Astec Industries, Inc. (the “Company”) held its Annual Meeting of Shareholders on April 25, 2023 (the "Annual Meeting"). The following is a summary of the matters voted on at the meeting: (a) The Company’s shareholders elected the four director nominees listed below for, in the case of Messrs. Gehl, Jain and van der Merwe, a term of three years, and in the case of Mr. Gliebe, a term of one year. The voting results were as follows: For Withheld Broker Non-Votes William D. Gehl 14,837,477 1,350,246 1,086,949 Mark J. Gliebe 16,014,492 173,231 1,086,949 Nalin Jain 15,983,333 204,390 1,086,949 Jaco G. van der Merwe 15,971,517 216,206 1,086,949”
Auditor Changes
ASTEC INDUSTRIES INC engaged Deloitte & Touche LLP as its auditor.
“the Audit Committee appointed Deloitte & Touche LLP (“Deloitte”) as the Company’s independent registered public accounting firm to audit the Company’s consolidated financial statements for its year ending December 31, 2023”
Auditor Changes
ASTEC INDUSTRIES INC dismissed KPMG LLP as its auditor.
“KPMG LLP (“KPMG”) was notified on behalf of the Audit Committee of the Board of Directors (the “Audit Committee”) of Astec Industries, Inc. and subsidiaries (the “Company”) that it was dismissed as the Company’s independent registered public accounting firm effective immediately.”
Earnings Releases
ASTEC INDUSTRIES INC reported three months and year ended December 31, 2022 results: revenue $349.9 million, net income $(1.0) million, EPS $(0.04) per diluted share.
“RELEASE ASTEC REPORTS FOURTH QUARTER 2022 RESULTS Fourth Quarter 2022 Highlights (all comparisons are made to the prior year fourth quarter) : • Net sales increased 31.2% to $349.9 million • Operating margin of 0.9% increased 320 bps • Diluted loss per share of $(0.04) compared to $(0.44); Adjusted EPS of $0.34 compared to a loss of $(0.06) per share • Backlog”
Jaco van der Merwe was appointed as President and Chief Executive Officer at ASTEC INDUSTRIES INC.
“the Board appointed Jaco van der Merwe, the Company’s current Group President – Infrastructure Solutions, as President and Chief Executive Officer, effective immediately.”
Barry A. Ruffalo was terminated as President and Chief Executive Officer at ASTEC INDUSTRIES INC.
“On January 6, 2023, Astec Industries, Inc. (the “Company”) announced that its President and Chief Executive Officer, Barry A. Ruffalo, is leaving the Company, effective immediately.”
Governance Changes
ASTEC INDUSTRIES INC: Board adopted amended and restated bylaws effective December 21, 2022, with changes to shareholder meeting procedures, director nominations, and board meeting notices (effective 2022-12-21).
“On December 21, 2022, the Board of Directors (the “Board”) of Astec Industries, Inc. (the “Company”) approved and adopted amended and restated bylaws (the “Amended and Restated Bylaws”), which became effective the same day.”
Debt Financings
ASTEC INDUSTRIES INC incurred credit facility of revolving credit facility in an aggregate amount of up to $250,000,000 and an incremental credit facility in an aggregat with Wells Fargo Bank, National Association at adjusted term SOFR for 1, 3 or 6 month periods plus an applicable margin ranging maturing December 19, 2027 for the revolving credit facility; incremental credit facility maturity as specified in the relevant documentation.
“On December 19, 2022, Astec Industries, Inc. (the “ Company ”) entered into a credit agreement (the “ Credit Agreement ”) that provides for (i) a revolving credit facility (consisting of revolving credit loans and swingline loans) and a letter of credit facility, in an aggregate amount of up to $250,000,000 and (ii) an incremental credit facility in an aggregate amount not to exceed $125,000,000 (the “ Credit Facilities ”).”
Material Agreements
ASTEC INDUSTRIES INC terminated Previous Credit Facility with Wells Fargo Bank, National Association (effective 2022-12-19).
“In connection with the entry into the Credit Facilities, the Company repaid all outstanding borrowings under its prior $150 million revolving credit facility pursuant to that certain Amended and Restated Credit Agreement, dated as of April 12, 2012 and as amended, between the Company, certain of its subsidiaries and Wells Fargo Bank, National Association (the “ Previous Credit Facility ”) utilizing borrowings under the Credit Facilities and terminated the Previous Credit Facility.”
Material Agreements
ASTEC INDUSTRIES INC entered into Credit Agreement with Wells Fargo Bank, National Association valued at up to $250,000,000 (effective 2022-12-19).
“On December 19, 2022, Astec Industries, Inc. (the “ Company ”) entered into a credit agreement (the “ Credit Agreement ”) that provides for (i) a revolving credit facility (consisting of revolving credit loans and swingline loans) and a letter of credit facility, in an aggregate amount of up to $250,000,000 and (ii) an incremental credit facility in an aggregate amount not to exceed $125,000,000 (the “ Credit Facilities ”).”
Nalin Jain was elected as Independent Director at ASTEC INDUSTRIES INC.
“On November 8, 2022, Astec Industries, Inc. (the “Company”) announced that the Company’s board of directors (the “Board”) elected Mr. Mark Gliebe and Mr. Nalin Jain, each a new independent director, effective as of November 10, 2022.”
Mark Gliebe was elected as Independent Director at ASTEC INDUSTRIES INC.
“On November 8, 2022, Astec Industries, Inc. (the “Company”) announced that the Company’s board of directors (the “Board”) elected Mr. Mark Gliebe and Mr. Nalin Jain, each a new independent director, effective as of November 10, 2022.”
Earnings Releases
ASTEC INDUSTRIES INC reported financial results for the three and nine months ended September 30, 2022.
“On November 2, 2022, Astec Industries, Inc. (the "Company") reported results of operations for the three and nine months ended September 30, 2022.”
Earnings Releases
ASTEC INDUSTRIES INC reported the third quarter of 2022 results: revenue $315.2 million, net income $0.7 million, EPS $0.03.
“NEWS RELEASE ASTEC REPORTS THIRD QUARTER 2022 RESULTS Third Quarter 2022 Highlights (all comparisons are made to the prior year third quarter) : • Net sales increased 18.1% to $315.2 million • Gross Profit Margin of 20.7% decreased 250 bps • Backlog increased 56.2% to $969.0 million • Repurchased $6.1 million of shares CHATTANOOGA, Tenn. (November 2, 2022) – Astec”
Facts are extracted by an LLM and gated to those whose source quote is present verbatim in the filing text. Coverage is best-effort while backfill and monitoring mature; this is not yet a full-market index. See methodology.