A maker of heavy equipment for building roads and processing materials, Astec designs asphalt and concrete plants, road-construction machinery, and crushers, screeners, and washers used by contractors, government agencies, miners, and recyclers. It was founded in 1972 in Chattanooga when engineer Dr. J. Don Brock and four friends, upset that their employer planned to move its asphalt operations away, sketched a business plan around a kitchen table. Its name is a mash-up of "asphalt technology," and those asphalt plants can run on warm-mix systems and recycled material.
Astec reports Q2 2026 net sales up 23.6% to $408.1M, revises FY2026 adjusted EBITDA guidance down
Second quarter 2026 net sales were $408.1 million, up 23.6% from $330.3 million in the prior-year quarter.
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GAAP net income attributable to controlling interest was $10.5 million, down 37.1% year-over-year; adjusted net income was $21.8 million, up 4.8%.
Diluted EPS was $0.45 (GAAP) and $0.94 (adjusted), compared to $0.72 and $0.90 in the prior-year quarter.
Backlog grew 57.9% to $601.1 million, with Materials Solutions backlog up 150.6% to $312.5 million.
The company revised its full-year 2026 adjusted EBITDA guidance from $170-$190 million to $160-$175 million, citing macro-driven shipment timing for asphalt plants.
Operating cash flow was $52.8 million year-to-date; free cash flow was $37.3 million year-to-date.
2.02 Results of Operations and Financial Condition · 9.01 Financial Statements and Exhibits
Astec appoints William E. Waltz to its Board of Directors, effective October 29, 2026
Mr. Waltz will serve an initial term expiring at the 2027 annual meeting of stockholders and will join the Board's Compensation Committee.
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On July 27, 2026, Astec's Board increased its size from nine to ten members and appointed William E. Waltz as a director, effective October 29, 2026.
Mr. Waltz, age 62, is President and CEO of Atkore, Inc. (NYSE: ATKR), a position he has held since 2018.
The Board determined Mr. Waltz qualifies as independent under Nasdaq and the Company's Corporate Governance Guidelines.
Mr. Waltz will receive the same annual compensation as other non-employee Board members.
5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements · 9.01 Financial Statements and Exhibits
Astec appoints Chad Hartley as Group President – Infrastructure Solutions effective May 11, 2026
Hartley previously served as President, Conveyance Solutions at Regal Rexnord, a NYSE-listed global manufacturing company.
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Chad Hartley will join Astec Industries as Group President – Infrastructure Solutions and member of the Executive Leadership Team on May 11, 2026.
Barend Snyman, former Group President – Infrastructure Solutions, is no longer employed by the Company as of April 20, 2026.
Snyman will receive benefits and payments under Section 4.2 of the Company’s Executive and Key Employee Severance Plan, filed December 19, 2024.
The appointment was announced in a press release dated April 20, 2026, attached as Exhibit 99.1.
5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements · 9.01 Financial Statements and Exhibits
Astec reports record Q4 2025 net sales of $400.6 million and full-year net income of $38.8 million.
Fourth quarter diluted EPS was $0.52, down from $0.92; full-year diluted EPS was $1.68, up from $0.19.
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Fourth quarter 2025 net sales were $400.6 million, up 11.6% from $359.0 million in the prior-year quarter.
Full year 2025 net sales were $1,410.4 million, up 8.1% from $1,305.1 million in 2024.
Fourth quarter net income attributable to controlling interest was $12.0 million, down from $21.1 million in Q4 2024; full-year net income was $38.8 million, up from $4.3 million in 2024.
Company expects full-year 2026 adjusted EBITDA in the range of $170 million to $190 million.
Backlog grew 22.5% to $514.1 million at year-end 2025.
2.02 Results of Operations and Financial Condition · 9.01 Financial Statements and Exhibits
Astec reports Q3 2025 net sales of $350.1M, net loss of $4.2M, and updates FY adjusted EBITDA guidance.
Third quarter 2025 net sales were $350.1 million, up 20.1% from $291.4 million in the prior year quarter.
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GAAP net loss attributable to controlling interest was $4.2 million, or diluted EPS of $(0.18), compared to a net loss of $6.2 million, or $(0.27), in Q3 2024.
Adjusted net income was $10.8 million, and adjusted diluted EPS was $0.47, up from $8.1 million and $0.36 in the prior year quarter.
Adjusted EBITDA increased 55.7% to $27.1 million from $17.4 million in Q3 2024.
The company updated its full-year 2025 adjusted EBITDA guidance range to $123 million to $142 million, raising the lower end from $123 million to $132 million while keeping the top end unchanged.
On July 1, 2025, Astec completed the acquisition of TerraSource Holdings, LLC for $252.4 million, which contributed to results.
2.02 Results of Operations and Financial Condition · 9.01 Financial Statements and Exhibits
Astec reports Q2 2025 net income of $16.7 million, up from a $14.0 million loss a year ago.
Diluted EPS was $0.72 (adjusted $0.88), versus a loss of $0.61 per share in Q2 2024.
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Net sales for Q2 2025 were $330.3 million, down 4.4% from $345.5 million in Q2 2024.
Adjusted net income was $20.3 million and adjusted EBITDA was $33.7 million, compared to $14.0 million and $27.6 million, respectively, in the prior-year quarter.
The company completed the acquisition of TerraSource on July 1, 2025, and raised its full-year adjusted EBITDA guidance to $123-$142 million, including $13-$17 million from TerraSource.
Operating cash flow was $12.9 million and free cash flow was $9.0 million in the quarter.
2.02 Results of Operations and Financial Condition · 9.01 Financial Statements and Exhibits