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Last €29.01 EUR
Change Today -0.65 / -2.21%
Volume 0.0
AI2 On Other Exchanges
As of 3:01 AM 10/2/15 All times are local (Market data is delayed by at least 15 minutes).

astec industries inc (AI2) Snapshot

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04/21/15 - €40.82
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astec industries inc (AI2) Details

Astec Industries, Inc. manufactures and sells equipment and components primarily for the road building, aggregate processing, geothermal, water, oil and gas, and wood processing industries in the United States and internationally. Its Infrastructure Group segment offers asphalt and wood pellet plants, and related components for the asphalt paving and other industries; asphalt pavers, material transfer vehicles, milling machines, soil stabilizing-reclaiming machinery, and other equipment used in road building and resurfacing; and screeds, windrow pickup machines, and road widener attachments. The company’s Aggregate and Mining Group segment provides aggregate processing and mining equipment for the production and classification of sand, gravel, crushed stone, and minerals used in road construction and other applications; mobile screening plants, portable and stationary structures, and vibrating screens; portable and stationary aggregate and ore processing equipment; rock breaking systems, processing equipment, and utility vehicles; and bulk material handling systems and minerals processing equipment. Its Energy Group segment offers thermal fluid heaters, process heaters, waste heat recovery equipment, liquid storage systems, and polymer and rubber blending systems under the HEATEC name; storage tanks, concrete plants, and rubberized asphalt and polymer blending systems; portable drilling rigs and related equipment for the water well, environmental, groundwater monitoring, construction, geothermal, mining, and shallow oil and gas exploration and production industries; high pressure diesel powered pump trailers used for fracking and cleaning oil and gas wells; and drilling rigs for the oil and gas industries, as well as tree pulpwood chippers, horizontal grinders, and blower trucks. The company sells its products through sales agents, distributors, and dealers. Astec Industries, Inc. was founded in 1972 and is based in Chattanooga, Tennessee.

3,952 Employees
Last Reported Date: 03/2/15
Founded in 1972

astec industries inc (AI2) Top Compensated Officers

Chief Executive Officer, President, Director ...
Total Annual Compensation: $400.0K
Chief Financial Officer, Principal Accounting...
Total Annual Compensation: $210.0K
Group Vice President of Aggregate & Mining Gr...
Total Annual Compensation: $234.9K
Compensation as of Fiscal Year 2014.

astec industries inc (AI2) Key Developments

Astec Industries, Inc. Announces $30 Million Pellet Plant Order

Astec Industries, Inc. announced it has entered into an agreement and received a related down payment to build, deliver and install the first production line of a new turnkey wood pellet production facility. The $30 million agreement with Highland Pellets, LLC includes the option to add additional production lines, related equipment and installation services which could bring the total order amount to $143 million. Astec expected to deliver the first production line and related equipment no later than early 2016. Although the company has received an order and a down payment on the first $30 million portion of the facility, the remaining $113 million worth of goods and services is optional. While Astec believes Highland Pellets will place the additional orders, it is not obligated to do so. Astec is not financing this order and will generally recognize revenue on the first production line and any subsequent production lines when they are delivered to Highland Pellets.

Astec Industries, Inc. Declares Quarterly Dividend, Payable on or After August 28, 2015

On July 23, 2015, the Board of Directors of Astec Industries, Inc. declared a quarterly cash dividend of ten cents ($0.10) per share of Company common stock to be paid on or after August 28, 2015 to the Company's common shareholders of record as of August 11, 2015.

Astec Industries, Inc. Announces Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended June 30, 2015; Provides Earnings Guidance for the Year 2015

Astec Industries, Inc. announced unaudited consolidated earnings results for the second quarter and six months ended June 30, 2015. For the quarter, the company announced net sales of $268,042,000 compared to $277,256,000 for the same period a year ago. Income from operations was $18,925,000 compared to $21,931,000 for the same period a year ago. Income before income taxes was $18,925,000 compared to $22,558,000 for the same period a year ago. Net income attributable to controlling interest was $11,805,000 or $0.51 per basic and diluted share compared to $14,497,000 or $0.63 per diluted share for the same period a year ago. CapEx for the quarter was $3.8 million. For the six months, the company announced net sales of $556,791,000 compared to $515,929,000 for the same period a year ago. Income from operations was $41,167,000 compared to $35,263,000 for the same period a year ago. Income before income taxes was $42,818,000 compared to $36,631,000 for the same period a year ago. Net income attributable to controlling interest was $26,909,000 or $1.16 per diluted share compared to $24,042,000 or $1.04 per diluted share for the same period a year ago. CapEx for the year through the first half is $10.7 million. For the year 2015, effective tax rate for 2015 is slightly higher than expected rate of around 36% due to some increasing state tax rates that are incurring as well as inability to book tax benefits for losses at certain of foreign companies, along with certain true ups that had during the quarter and year-to-date periods related to various tax audits that have in jurisdictions in which they operate. CapEx budget for the year of about $30 million. However, they believe that the rate at which they are spending on capital, will end up somewhere between $20 million and $25 million, which will be relative to their depreciation. The company still believes that depreciation will hold at $23.1 million for the full year of 2015.


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