Astec Industries, Inc.
- Open
- 42.93
- Day high
- 43.05
- Day low
- 42.53
- Prev close
- 42.32
- Volume
- 3K
- Mkt cap
- $985M
- P/E (TTM)
- 49.7
- EPS (TTM)
- $0.86
- P/B
- 1.4
- P/S
- 0.6
- Yield
- 1.22%
- Per share
- $0.52
Astec Industries, Inc. (ASTE) is a Industrials company listed on NASDAQ. The stock is down 8% over the past year. Drillr has 1 published research article covering ASTE.
Astec Industries, Inc. (ASTE) financials & analyst ratings
Fundamentals (TTM)
Source: exchange market data + company filings. Figures are trailing-twelve-month or as most recently reported. For informational purposes only — not investment advice.
ASTE earnings date, history & EPS estimates
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| Aug 5, 2026 | $1.04 | $0.94 | -9.6% | $408M | +0.6% |
| May 6, 2026 | $0.88 | $0.54 | -38.6% | $396M | +0.8% |
| Feb 25, 2026 | $0.74 | $1.06 | +43.2% | $401M | +2.4% |
| Nov 5, 2025 | $0.45 | $0.47 | +4.4% | $350M | -6.4% |
| Aug 6, 2025 | $0.34 | $0.88 | +158.8% | $330M | -3.0% |
| Feb 26, 2025 | $0.73 | $1.19 | +63.0% | $359M | +12.4% |
| May 1, 2024 | $0.87 | $0.34 | -60.9% | $309M | -10.2% |
| Feb 28, 2024 | $0.62 | $0.90 | +45.2% | $337M | -3.6% |
| Nov 1, 2023 | $0.64 | $-0.01 | -101.6% | $303M | -13.1% |
| Aug 2, 2023 | $0.59 | $0.87 | +47.5% | $350M | -0.1% |
| May 3, 2023 | $0.59 | $0.90 | +52.5% | $348M | +2.0% |
| Mar 1, 2023 | $0.38 | $0.34 | -10.5% | $350M | +11.9% |
ASTE insider trading activity (SEC Form 4)
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| Sep 2, 2026 | GILBERT EDWARD TERRELL JRofficer: GC & CORPORATE SECRETARY | Grant | 22 | — |
| Sep 2, 2026 | WINFORD JAMES MURPHY JRdirector | Grant | 7 | — |
| Sep 2, 2026 | Shannon Patrick Sdirector | Grant | 18 | — |
| Sep 2, 2026 | Merwe Jaco van derofficer: Chief Executive Officer | Grant | 139 | — |
| Sep 2, 2026 | HOWELL MARY Ldirector | Grant | 7 | — |
| Sep 2, 2026 | PUTNEY ROBERT GERALDofficer: VP, Chief Accounting Officer | Grant | 3 | — |
| Sep 2, 2026 | Merwe Jaco van derofficer: Chief Executive Officer | Grant | 4 | — |
| Sep 2, 2026 | Gliebe Mark Josephdirector | Grant | 7 | — |
| Sep 2, 2026 | Jackson Jeffrey Tdirector | Grant | 25 | — |
| Sep 2, 2026 | Hartley Chad Jeffreyofficer: Group President | Grant | 38 | — |
| Sep 2, 2026 | Harris Brian Jamesofficer: Chief Financial Officer | Grant | 37 | — |
| Sep 2, 2026 | NORRIS MICHAEL PAULofficer: GROUP PRESIDENT | Grant | 23 | — |
| Sep 2, 2026 | Jain Nalindirector | Grant | 7 | — |
| Sep 2, 2026 | Cook Tracey Hdirector | Grant | 18 | — |
| Sep 2, 2026 | Knoll Linda I.director | Grant | 7 | — |
Source: ASTE SEC Form 4 filings, latest Sep 2, 2026. For informational purposes only — not investment advice.
See the full ASTE insider & 13F page →Astec Industries, Inc. company profile
Overview
Astec Industries, Inc. (NASDAQ:ASTE) is a Tennessee-based industrial equipment manufacturer founded in 1972 and publicly traded since 1986. The company designs, engineers, manufactures, and markets specialized equipment primarily used in road construction, infrastructure development, and materials processing. Headquartered in Chattanooga, Astec operates through two main business segments serving customers across the United States and internationally, with approximately 80% of sales generated domestically.
Business
Astec Industries operates in the heavy industrial equipment sector, specializing in machinery for road construction and materials processing. The company's products are essential components of infrastructure development, from building highways and bridges to processing raw materials like asphalt, concrete, and aggregates. The company operates through two primary business segments: Infrastructure Solutions (representing the larger segment based on recent earnings): This division manufactures equipment for road construction and infrastructure projects. Key products include asphalt plants that heat and mix materials to create the hot asphalt used in road paving, concrete batch plants that mix cement with aggregates to produce ready-mix concrete, asphalt pavers that lay hot asphalt on roadways, and soil stabilizing equipment that strengthens ground conditions for construction. The segment also produces specialized equipment like milling machines that remove old pavement, wood chippers for clearing vegetation, and various storage tanks and heating systems. Additionally, it provides aftermarket parts and engineering services to support ongoing operations. Materials Solutions (the smaller segment): This division focuses on equipment for processing raw materials used in construction. Products include crushing equipment that breaks down large rocks into smaller aggregate materials, screening equipment that separates materials by size, conveying systems that transport materials within processing facilities, and vibrating equipment used in material handling. The segment also manufactures portable and modular processing plants that can be moved between job sites, along with automation and control systems that optimize plant operations. Both segments generate revenue from initial equipment sales and ongoing aftermarket parts and services, with the aftermarket business providing more stable, recurring revenue streams. The company serves asphalt producers, highway contractors, ready-mix concrete companies, government agencies, and construction firms involved in infrastructure development and materials processing.
Revenue model
Astec Industries generates revenue through multiple channels within its equipment manufacturing business model. The primary revenue streams include initial capital equipment sales, aftermarket parts and service, and engineering consulting services. Capital Equipment Sales: The company manufactures and sells large-scale industrial equipment ranging from asphalt plants costing hundreds of thousands to millions of dollars, to smaller specialized machinery. These are typically high-value, low-volume transactions with customers including construction contractors, government agencies, and materials producers. Equipment sales tend to be cyclical and influenced by infrastructure spending cycles, interest rates, and economic conditions. Aftermarket Parts and Service: This represents a more stable, recurring revenue stream as customers require ongoing maintenance, replacement parts, and service support for their equipment throughout its operational life. The aftermarket business typically generates higher margins than initial equipment sales and provides revenue stability during economic downturns when new equipment purchases may be deferred. Engineering and Consulting Services: The company provides specialized engineering services, environmental permitting assistance, and plant design consultation, leveraging its technical expertise to generate additional revenue from existing customer relationships. Several factors significantly impact Astec's profitability margins. Commodity price fluctuations affect both input costs for steel and other raw materials used in manufacturing, as well as customer demand driven by construction activity levels. Interest rates substantially influence customer purchasing decisions, as equipment buyers often finance large capital purchases - higher rates reduce demand and can lead to order deferrals. Government infrastructure spending creates significant demand variability, with federal programs like the Infrastructure Investment and Jobs Act providing multi-year funding visibility. Manufacturing efficiency directly impacts margins, with the company recently implementing restructuring programs to address production inefficiencies. Supply chain disruptions can increase component costs and extend delivery times, while dealer inventory levels affect order timing as distributors manage their stock levels based on market conditions.
Competitive moat
Astec Industries operates in a specialized niche with moderate competitive barriers, though its moat strength is limited compared to companies with stronger network effects or switching costs. The company's primary competitive advantages stem from its specialized engineering expertise in road construction equipment, established relationships with infrastructure contractors and government agencies, and its aftermarket parts business that creates some customer stickiness. The company benefits from technical specialization in complex industrial equipment where performance, reliability, and regulatory compliance are critical factors. Customers typically prefer established manufacturers with proven track records when purchasing expensive, mission-critical equipment. Astec's decades of experience and engineering capabilities in asphalt plants, concrete systems, and materials processing create some barriers to new entrants who would need significant capital investment and technical expertise to compete effectively. The aftermarket parts business provides the strongest element of customer retention, as equipment owners require ongoing maintenance and replacement parts throughout the equipment's operational life, often spanning 10-20 years. This creates recurring revenue streams and some switching costs, though not as strong as software or subscription-based models. However, Astec's competitive position faces several challenges. The industry includes well-established competitors with similar capabilities, and customers can often choose between multiple qualified suppliers for major equipment purchases. Cyclical demand patterns tied to infrastructure spending and economic conditions create periods of intense price competition when market demand weakens. The company also faces potential disruption from technological changes, including automation, electric vehicle adoption that may reduce road maintenance needs, and alternative construction methods. The acquisition of TerraSource Global represents an attempt to strengthen the company's market position by expanding product offerings and increasing the proportion of higher-margin aftermarket revenue, though this strategy's success remains to be proven in execution.
Risks & safety
Astec Industries presents a moderate margin of safety profile with reasonable financial stability but some operational challenges. • Liquidity Position: Strong current ratio of 2.66 and $92.6 million in cash provides adequate short-term financial flexibility. Quick ratio of 1.09 indicates sufficient liquid assets to meet immediate obligations. • Debt Management: Conservative debt-to-equity ratio of 0.16 indicates low financial leverage and manageable debt burden. The company maintains financial capacity for the pending $245 million TerraSource acquisition. • Operational Cash Flow: Positive operating cash flow of $20.5 million in Q1 2025, though historically volatile with negative $73.9 million in 2022, indicating cyclical cash generation patterns. • Valuation Metrics: Trading at 13.8x P/E ratio and 7.1x EV/EBITDA based on Q1 2025 results, representing reasonable valuations for an industrial equipment manufacturer. Price-to-book ratio of 1.20 suggests modest premium to book value. • Profitability Concerns: Recent volatility in earnings with losses in Q2 and Q3 2024, though showing improvement in Q4 2024 and Q1 2025. Full-year 2024 adjusted EBITDA of $51.4 million on $1.3 billion revenue indicates thin margins requiring operational improvements. • Cyclical Risk: Business highly sensitive to infrastructure spending cycles, interest rates, and economic conditions, creating earnings volatility and uncertainty in forward guidance.
Recent development
Over the past few years, Astec Industries has undergone significant strategic transformation focused on operational efficiency and growth through acquisition. The company implemented a comprehensive restructuring program to address manufacturing inefficiencies that had been pressuring margins, with management targeting $1.5-1.8 million in quarterly savings from these initiatives. A major strategic pivot has been the emphasis on digital transformation and automation. The company acquired MINDS Automation Group to enhance its digital capabilities and has been implementing Oracle ERP systems across its facilities to improve operational efficiency. This digitization effort extends to customer-facing solutions, with the introduction of Astec Digital services providing remote monitoring and optimization capabilities for customer equipment. The most significant recent development is the $245 million acquisition of TerraSource Global, announced in Q1 2025. This acquisition represents a strategic expansion into complementary crushing, screening, and separation markets, with TerraSource generating over 50% of its revenue from higher-margin aftermarket parts business. Management expects $10 million in annual integration synergies by the end of year two, indicating confidence in operational improvements and cost reductions. Product innovation has been another key focus area, with launches including the Peterson 5710E Horizontal Grinder and Roadtec RX405 Cold Planer. The company has also been developing sustainable technology solutions in response to environmental regulations and customer demand for cleaner equipment alternatives. Operationally, the company has been working to improve manufacturing efficiency through cross-facility production optimization and supply chain diversification. Recent efforts include identifying alternative suppliers, particularly for electronic components, and exploring reshoring opportunities to reduce supply chain risks and potential tariff impacts.
ASTE company profile · for informational purposes only — not investment advice.
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