Astec Industries, Inc. · NASDAQ:ASTE
Astec Industries — Q4 2024 Earnings Presentation
20 slides from Astec Industries's earnings presentation, Feb 26, 2025
Slide 1: Fourth Quarter and Full Year Earnings
Fourth Quarter and Full Year Earnings February 26, 2025 B U I LT TO C O N N E C T
Slide 2: Safe Harbor
Safe Harbor Certain statements contained in this presentation contain forward-looking statements within the meaning of the Securities Act of 1933, as amended, the Securities Exchange Act of 1934, as amended, and the Private Securities Litigation Reform Act of 1995. Such statements relate to, among o
Slide 3: Fourth Quarter and Full Year Highlights
Fourth Quarter and Full Year Highlights JACO VAN DER MERWE CEO AND PRESIDENT 3
Slide 4: Overview
Overview Fourth Full Full year net sales of $1,305.1billion. Record Q4 net sales and Quarter Year Adjusted EBITDA. $359.0M $1,305.1B Positive free cash flow driven by continued focus on working capital management. Year-over-Year inventory reductions of NET SALES NET SALES $33.0M. Infrastructure Solu
Slide 5: Strategic Pillars
Strategic Pillars EMPOWERED, Increased employee engagement score ENABLED Internal Voice of OneASTEC survey gave key insights & ENGAGED EMPLOYEES Ongoing engagement planned in 2025 Further strengthening customer relationships a priority CUSTOMER FOCUSED Consistency in operations and customer interact
Slide 6: State of the Industry
State of the Industry Over 40% of U.S. roads are rated in poor or mediocre condition, requiring significant investment. Source: ASCE Infrastructure Report Card ROAD Approximately 173,000 miles of major roads require major INFRASTRUCTURE rehabilitation. H E A LT H Source: FHWA $786 billion in road an
Slide 7: Q4 Implied Orders
Q4 24 Implied Orders CONSOLIDATED INFRASTRUCTURE SOLUTIONS MATERIALS SOLUTIONS Implied Orders ($M) Implied Orders ($M) Implied Orders ($M) +28.3% Q/Q $317 $299 $303 $292 +37.8% Q/Q $236 $210 $217 $203 $192 $147 +12.4% Q/Q $100 $100 $100 $89 $89 4Q23 1Q24 2Q24 3Q24 4Q24 4Q23 1Q24 2Q24 3Q24 4Q24 4Q23
Slide 8: Historical Backlog
Historical Backlog CONSOLIDATED INFRASTRUCTURE SOLUTIONS MATERIALS SOLUTIONS Backlog ($M) Backlog ($M) Backlog ($M) $570 $560 $531 $476 $420 $365 $373 $369 $351 $306 $205 $187 $162 $125 $114 4Q23 1Q24 2Q24 3Q24 4Q24 4Q23 1Q24 2Q24 3Q24 4Q24 4Q23 1Q24 2Q24 3Q24 4Q24 8
Slide 9: Fourth Quarter and Full Year Financial Results
Fourth Quarter and Full Year Financial Results BRIAN HARRIS CHIEF FINANCIAL OFFICER 9
Slide 10: 4Q24 Financial Results
4Q24 Financial Results ($M, except per share and percentage data) NET SALES ADJ. EBITDA1 ADJ. EBITDA MARGIN1 ADJ. EPS1 +1.6% $110.0 $111.8 (-2.5%) +360 bps $1,338.2 $1,305.1 13.3% $2.67 (-8.2%) $2.45 9.7% +40 bps +46.9% 8.6% 8.2% $47.9 +32.2% +6.5% $32.6 $1.19 $337.2 $359.0 $0.90 4Q 2023 4Q 2024 202
Slide 11: Infrastructure Solutions
Infrastructure Solutions 4Q24 Financial Performance ($M, except percentage data) NET SALES SEGMENT OPERATING ADJ. EBITDA SEGMENT OPERATING ADJ. EBITDA MARGIN +4.6% $837.4 +18.7% $800.4 +560 bps $121.5 21.3% $102.4 15.7% +170 bps 14.5% +52.1% 12.8% +11.9% $53.1 $248.8 $222.3 $34.9 4Q 2023 4Q 2024 202
Slide 12: Materials Solutions
Materials Solutions 4Q24 Financial Performance ($M, except percentage data) NET SALES SEGMENT OPERATING ADJ. EBITDA SEGMENT OPERATING ADJ. EBITDA MARGIN $537.8 (-13.0%) 9.4% $50.7 (140 bps) $467.7 8.0% (26.6%) (70 bps) 7.2% $37.2 6.5% (-4.1%) $114.9 (13.3%) $110.2 $8.3 $7.2 4Q 2023 4Q 2024 2023 2024
Slide 13: 4Q24 Adjusted EBITDA Bridge
4Q24 Adjusted EBITDA1 Bridge ($M) $18.3 $0.1 $47.9 ($1.2) ($1.9) $32.6 4Q 2023 Volume, Pricing Inflation Manufacturing SG&A & Other 4Q 2024 & Mix Inefficiencies and Other Period Costs 1 See appendix for the reconciliation of GAAP to Non-GAAP measures. 13
Slide 14: Maintain Strong, Flexible Balance Sheet with Ample Liquidity
Maintain Strong, Flexible Balance Sheet with Ample Liquidity TOTAL LIQUIDITY ($M) LIQUIDITY $235 ($M) 12/31/24 $228 $195 Cash and Cash Equivalents $88.3 $171 $176 Available Credit $139.8 Total Available Liquidity $228.1 COMMENTARY • Operating activities were a $36.6M source of cash for Q4 2024 • Ava
Slide 15: Trusted source and growth drivers
Trusted source — High-quality solutions and strong global brand recognition Favorable Customer Sentiment — Cautious optimism expressed at recent World of Concrete and National Asphalt Pavement Association trade shows. Strong attendance at both a positive Operational Excellence — Manufacturing invest
Slide 16: Questions & Answers
Questions & Answers STEVE ANDERSON SVP OF ADMINISTRATION & INVESTOR RELATIONS Phone: 423-553-5934 Email: sanderson@astecindustries.com 16
Slide 17: Appendix
APPENDIX B U I LT TO C O N N E C T 17
Slide 18: GAAP vs Non-GAAP Adjusted EPS Reconciliations
GAAP vs Non-GAAP Adjusted EPS Reconciliations (in millions, except per share amounts; unaudited) 18
Slide 19: EBITDA and Adjusted EBITDA Reconciliations
EBITDA and Adjusted EBITDA Reconciliations (in millions, except percentage data; unaudited) 19
Slide 20: Free Cash Flow Reconciliations
Free Cash Flow Reconciliations (in millions, except percentage data; unaudited) 20