ASTEC INDUSTRIES INC

Listed Company

ASTECIK 0000792987NasdaqLarge AcceleratedConstruction Machinery & EquipTennesseeFY ends Dec 31

Period

FY 2025

Revenue

$1.41B

Net Income

$38.80M

Total Assets

$1.37B

Equity

$681.70M

Shares Out

22.90M

Op. Cash Flow

$61.40M

Business

ASTEC INDUSTRIES INC designs, engineers, manufactures, markets and services equipment and components used primarily in asphalt and concrete road building and related construction activities. Its products and services include asphalt and concrete mixing plants, pavers, burners, feeders and storage, crushers, screens, grinders, material handling systems, control systems, telematics platforms, aftermarket parts and engineering and installation services. The company operates through two reportable business segments, Infrastructure Solutions and Materials Solutions, with a Corporate and Other category for parent and captive activities. Products are sold domestically and internationally to asphalt and concrete producers, contractors, mine and quarry operators, port and rail authorities and government agencies through direct sales, dealers and independent distributors.

Summary from filing dated 2025-02-26

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Net sales	1,410	1,305	1,338	1,275	1,096
Cost of sales	1,036	977	1,007	1,010	846
Gross profit	374	328	331	264	250
Selling, general and administrative expenses	309	276	276	248	227
Goodwill impairment	0	20	0	0	—
Restructuring, impairment and other asset (gains) charges, net	−400,000	8	6	9	—
Income from operations	66	23	49	8	20
Interest expense	−19	−11	−9	−3	—
Interest income	3	2	2	1	500,000
Other income (expenses), net	2	−600,000	1	−2	—
Income before income taxes	53	14	43	4	14
Income tax provision	14	10	9	5	−2
Net income	39	4	34	−600,000	16
Net loss (income) attributable to noncontrolling interest	0	200,000	−200,000	500,000	−100,000
Net income attributable to controlling interest	39	4	34	−100,000	16
Earnings per common share - Basic (in dollars per share)	1.7	0.19	1.47	0	0.7
Earnings per common share - Diluted (in dollars per share)	1.68	0.19	1.47	0	0.69
Weighted average shares outstanding - Basic (in shares)	23	23	23	23	23
Weighted average shares outstanding - Diluted (in shares)	23	23	23	23	23

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Cash, cash equivalents and restricted cash	72	91	63	66	134
Investments	2	3	6	4	9
Trade receivables, contract assets and other receivables, net	219	167	153	174	142
Inventories	466	423	456	393	299
Prepaid and refundable income taxes	15	9	15	16	21
Prepaid expenses and other assets	43	30	28	28	24
Total current assets	817	723	720	696	636
Property and equipment, net	222	182	188	174	172
Investments	21	19	14	15	12
Goodwill	112	25	46	45	39
Intangible assets, net	125	11	16	23	23
Deferred income tax assets	25	46	38	32	16
Other long-term assets	46	38	38	30	8
Total assets	1,367	1,044	1,059	1,014	906
Current maturities of long-term debt	16	0	100,000	200,000	100,000
Short-term debt	12	13	11	9	3
Accounts payable	94	79	117	107	82
Customer deposits	84	77	70	70	60
Accrued product warranty	19	16	17	12	11
Accrued employee related liabilities	51	38	44	35	31
Other current liabilities	52	48	38	39	35
Total current liabilities	328	272	299	274	223
Long-term debt	320	105	72	78	200,000
Deferred income tax liabilities	7	2	1	2	1
Other long-term liabilities	31	27	34	33	30
Total liabilities	686	406	406	388	255
Commitments and contingencies (Note 16)	—	—	—	—	—
Preferred stock authorized 2,000,000 shares of $1.00 par value; none issued	0	0	0	0	0
Common stock authorized 40,000,000 shares of $0.20 par value; issued and outstanding 22,877,530 in 2025 and 22,803,976 in 2024	5	5	5	5	5
Additional paid-in capital	150	143	138	136	131
Accumulated other comprehensive loss	−41	−51	−38	−40	−32
Company stock held by deferred compensation programs, at cost	−200,000	−300,000	−800,000	−1	−1
Retained earnings	568	542	549	528	549
Shareholders' equity	682	638	653	627	651
Noncontrolling interest	−100,000	−200,000	300,000	0	500,000
Total equity	682	638	654	627	651
Total liabilities and equity	1,367	1,044	1,059	1,014	906

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Depreciation and amortization	36	27	26	28	30
Amortization of acquisition-related inventory fair value step-up	7	0	0	—	—
Provision for credit losses	2	600,000	2	1	—
Provision for warranties	24	19	18	13	11
Deferred compensation expense (benefit)	100,000	−100,000	−100,000	−900,000	500,000
Share-based compensation	7	5	4	7	6
Deferred tax provision (benefit)	400,000	−7	−6	—	—
Gain on sale of property and equipment, net	−200,000	−1	−3	−700,000	−600,000
Other impairment charges	0	0	1	4	—
Amortization of debt issuance costs	1	300,000	300,000	0	0
Distributions to deferred compensation programs' participants	−1	−1	−2	−1	−3
Purchase of trading securities, net	−200,000	−2	−300,000	700,000	−3
Receivables and other contract assets	−28	−21	21	−28	−28
Inventories	12	27	−63	−96	−52
Prepaid expenses	−2	−4	2	—	—
Other assets	−500,000	−900,000	−13	−16	2
Accounts payable	−2	−36	8	26	30
Accrued employee related liabilities	10	−5	9	4	10
Other accrued liabilities	−5	−3	600,000	3	−8
Accrued product warranty	−22	−19	−13	−11	−11
Customer deposits	−13	8	1	10	27
Income taxes payable/prepaid	−4	11	4	—	—
Net cash provided by operating activities	61	23	28	−74	7
Acquisitions, net of cash acquired	−249	0	0	−18	100,000
Expenditures for property and equipment	−41	−21	−34	−41	−20
Proceeds from sale of property and equipment	800,000	2	20	6	2
Proceeds from insurance	700,000	400,000	0	0	—
Purchase of investments	−900,000	−1	−1	−1	−1
Sale of investments	1	900,000	2	600,000	2
Net cash used in investing activities	−288	−18	−13	−53	−18
Payment of dividends	−12	−12	−12	−11	−10
Proceeds from borrowings on credit facilities and bank loans	459	216	241	223	—
Repayments of borrowings on credit facilities and bank loans	−230	−179	−246	−139	−6
Payment of debt issuance costs	−10	0	0	−2	0
Sale of Company stock by deferred compensation programs, net	100,000	400,000	300,000	200,000	600,000
Withholding tax paid upon vesting of share-based compensation awards	−700,000	−500,000	−2	−2	−4
Net cash provided by (used in) financing activities	206	24	−18	60	−12
Effect of exchange rates on cash	2	−2	600,000	−1	−1
(Decrease) increase in cash and cash equivalents and restricted cash	−19	28	−3	−68	−24
Interest	16	9	7	1	300,000
Income taxes paid, net	20	8	14	18	10
Capital expenditures in accounts payable	500,000	1	2	2	1
Additions to right-of-use assets and lease liabilities	5	2	800,000	7	2

Filings

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