Astec Industries, Inc. Reports Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2023
February 28, 2024 at 07:02 am EST
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Astec Industries, Inc. reported earnings results for the fourth quarter and full year ended December 31, 2023. For the fourth quarter, the company reported sales was USD 337.2 million compared to USD 349.9 million a year ago. Net income was USD 14.9 million compared to net loss of USD 1 million a year ago. Basic earnings per share from continuing operations was USD 0.65 compared to basic loss per share from continuing operations of USD 0.04 a year ago. Diluted earnings per share from continuing operations was USD 0.65 compared to diluted loss per share from continuing operations of USD 0.04 a year ago.
For the full year, sales was USD 1,338.2 million compared to USD 1,274.5 million a year ago. Net income was USD 33.5 million compared to net loss of USD 0.1 million a year ago. Basic earnings per share from continuing operations was USD 1.47. Diluted earnings per share from continuing operations was USD 1.47.
Astec Industries, Inc. designs, engineers, manufactures, markets, and equipment and components used primarily in asphalt and concrete road building and related construction activities. Its Infrastructure Solutions segment designs, engineers, manufactures and markets a complete line of asphalt and concrete plants, components and ancillary equipment, and asphalt road construction equipment, industrial thermal systems, land clearing, recycling and other heavy equipment. Its Materials Solutions segment designs and manufactures heavy rock processing equipment, in addition to servicing and supplying parts for the aggregate, mining, recycling, ports and bulk handling markets. The Company's products are marketed both domestically and internationally primarily to asphalt producers; highway and heavy equipment contractors; utility contractors; sand and gravel producers; construction, demolition, recycle and crushing contractors; forestry and environmental recycling contractors, and others.
ASTEC INDUSTRIES, INC. 
