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.”
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