Astec Industries, Inc. Reports Earnings Results for the Full Year Ended December 31, 2022
March 01, 2023 at 07:05 am EST
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Astec Industries, Inc. reported earnings results for the full year ended December 31, 2022. For the full year, the company reported sales was USD 1,274.5 million compared to USD 1,095.5 million a year ago. Net loss was USD 0.1 million compared to net income of USD 15.8 million a year ago.
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.