Astec Reports Second Quarter 2025 Results

About this update from Astec Industries, Inc.

Second Quarter 2025 Overview   (all comparisons are made to the corresponding prior year second quarter unless otherwise specified) : CHATTANOOGA, Tenn., Aug. 06, 2025 (GLOBE NEWSWIRE) -- Astec Industries, Inc. (Nasdaq: ASTE) announced today its financial results for the second quarter ended June 30, 2025. "Astec reported another strong quarter building on its strategic initiatives to deliver consistency, profitability and growth," said Jaco van der Merwe, Chief Executive Officer. "Operational efforts continue to gain traction, manufacturing and procurement efforts are driving enhanced efficiencies and increases were achieved in net income, EBITDA and earnings per share. On July 1, 2025, we completed the acquisition of TerraSource, an adjacent manufacturer of materials processing equipment and related aftermarket parts. TerraSource has annual revenues in excess of $150 million, with over 60% of revenues from aftermarket parts and services. We are excited to welcome TerraSource employees to the Astec team." Brian Harris, Chief Financial Officer, commented, "We were pleased to generate net income of $16.7 million and an adjusted EBITDA of $33.7 million in the second quarter, compared to a $14.0 million net loss and $27.6 million of adjusted EBITDA in the second quarter last year, along with strong free cash flows. We are updating the lower end of our full year guidance from $105 million to $110 million on our core business while keeping the top end of the range unchanged at $125 million. We are also increasing our guidance to reflect the expected second half contributions by TerraSource. We expect TerraSource to provide adjusted EBITDA in the $13 million to $17 million range, bringing our consolidated guidance expectations for adjusted EBITDA to a range of $123 million to $142 million." Segments Results Our two reportable segments are comprised of sites based upon the nature of the products or services produced, the type of customer for the products, the similarity of economic characteristics, the manner in which management reviews results and the nature of the production process, among other considerations. Infrastructure Solutions - Road building equipment, asphalt and concrete plants, thermal storage solutions and related aftermarket parts. Materials Solutions - Processing equipment to crush, screen and convey aggregates and related aftermarket parts. Liquidity and Cash Flow Second Quarter Capital Allocation I nvestor Conference Call and Webcast Astec will conduct a conference call and live webcast today, August 6, 2025, at 8:30 A.M. Eastern Time, to review its second quarter financial results as well as current business conditions and the proposed acquisition of TerraSource. To access the call, dial (888) 440-4118 on Wednesday, August 6, 2025 at least 10 minutes prior to the scheduled time for the call. International callers should dial +1 (646) 960-0833. You may also access a live webcast of the call at: https://events.q4inc.com/attendee/782370627 You will need to give your name and company affiliation and reference Astec. An archived webcast will be available for ninety days at www.astecindustries.com. A replay of the call can be accessed until August 20, 2025 by dialing (800) 770-2030, or (609) 800-9909 for international callers, Conference ID# 8741406. A transcript of the conference call will be made available under the Investor Relations section of the Astec Industries, Inc. website within 5 business days after the call. About Astec Astec, (www.astecindustries.com), is a manufacturer of specialized equipment for asphalt road building, aggregate processing and concrete production. Astec's manufacturing operations are divided into two primary business segments: Infrastructure Solutions that includes road building, asphalt and concrete plants, thermal and storage solutions; and Materials Solutions that include our aggregate processing equipment. Astec also operates a line of controls and automation products designed to deliver enhanced productivity through improved equipment performance. Safe Harbor Statements under the Private Securities Litigation Reform Act of 1995 This News Release contains 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 other things, income, earnings, cash flows, changes in operations, operating improvements, businesses in which we operate, anticipated benefits from the TerraSource acquisition, the United States and global economies and guidance for fiscal 2025. Statements in this News Release that are not historical are hereby identified as "forward-looking statements" and may be indicated by words or phrases such as "anticipates," "supports," "plans," "projects," "expects," "believes," "should," "would," "could," "forecast," "management is of the opinion," use of the future tense and similar words or phrases. These forward-looking statements are based largely on management's expectations, which are subject to a number of known and unknown risks, uncertainties and other factors discussed and described in our most recent Annual Report on Form 10-K, including those risks described in Part I, Item 1A. Risk Factors thereof , and in other reports filed subsequently by us with the Securities and Exchange Commission, including those risks described in Part II, Item 1A in our most recent Quarterly Report on Form 10-Q, which may cause actual results, financial or otherwise, to be materially different from those anticipated, expressed or implied by the forward-looking statements. All forward-looking statements included in this document are based on information available to us on the date hereof, and we assume no obligation to update any such forward-looking statements to reflect future events or circumstances, except as required by law. For Additional Information Contact: Steve Anderson  Senior Vice President of Administration and Investor Relations Phone: (423) 899-5898  E-mail: [email protected] (Continued) We present certain non-GAAP information that can be useful in understanding our operating results and the performance of our core business. We use both GAAP and non-GAAP financial measures to establish internal budgets and targets and to evaluate financial performance against such budgets and targets. We exclude the costs and related tax effects, which are based on the statutory tax rate applicable to each respective item unless otherwise noted below, of the following items as we do not believe they are indicative of our core business operations:

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