Designs, engineers, manufactures, markets, and services equipment and components primarily for asphalt and concrete road building and related construction activities, and also supplies material processing equipment, industrial heat-transfer and automation systems, telematics, and aftermarket replacement parts to domestic and international customers.

# Astec Industries, Inc.

## What the company does
- Designs, engineers, manufactures, markets, and services equipment and components used primarily in asphalt and concrete road building and related construction activities.
- Offers products and solutions outside road construction, including industrial automation controls and telematics platforms.
- Produces equipment and components for mining, quarrying, construction, demolition, land clearing, energy, hydro-electric, recycling, and port/rail yard operations.
- Manufactures industrial heat transfer equipment, commercial whole-tree pulpwood chippers, horizontal grinders, blower trucks, commercial and industrial burners, and combustion control systems.
- Markets products domestically and internationally to a broad range of customers.
- Manufactures and sells replacement parts across product lines; replacement parts sales are an integral part of the business.

## Products, platforms, and services
- Core product areas:
  - Equipment and components for asphalt and concrete road construction and maintenance
  - Material processing equipment (TerraSource Holdings, LLC)
  - Portable and stationary asphalt plant equipment and parts (CWMF, LLC)
  - Industrial automation controls and telematics platforms
  - Equipment for mining, quarrying, construction, demolition, energy, recycling, and related sectors
- Aftermarket: replacement parts for the company’s equipment and for some competitors’ equipment

## Markets and customers
- Serves domestic and international markets
- Primary customer groups include:
  - Asphalt and concrete producers
  - Highway and heavy equipment contractors
  - Utility contractors
  - Sand and gravel producers
  - Construction, demolition, recycling, and crushing contractors
  - Forestry and environmental recycling contractors
  - Mine and quarry operators
  - Port and inland terminal authorities
  - Power stations
  - Domestic and foreign government agencies

## Aftermarket and parts
- Replacement parts support ongoing product use and customer service and are a core component of the business model

## Corporate strategy, culture, and focus
- Corporate vision: OneASTEC Vision — “To build industry changing solutions that create life-changing opportunities.”
- Strategic pillars:
  - Empowered, enabled, and engaged employees: focus on competitive compensation and benefits, skills development, safety, a unified OneASTEC model, common platforms, a performance culture, streamlined operational excellence, and development opportunities
  - Customer focused: strengthen the aftermarket experience, drive commercial and operational excellence, simplify product offerings and processes through global centers of excellence, expand global presence in attractive markets, and improve quality, parts availability, and customer connectivity
  - Industry changing innovation: continue new product development, use technology and digital connectivity (controls, automation, and other technologies), and develop the Astec Digital Ecosystem to integrate the full product portfolio and data

## Recent acquisitions
- TerraSource Holdings, LLC (acquired July 1, 2025): manufacturer of material processing equipment and related aftermarket parts for crushing, screening, and separation applications
- CWMF, LLC (acquired January 1, 2026): manufacturer of portable and stationary asphalt plant equipment and parts

Astec Industries, Inc. designs, manufactures, and services equipment used in asphalt, concrete, mining, demolition, and recycling industries globally.

# Summary of Astec Industries, Inc.

## Business Overview
- **Core Business**: Designs, engineers, manufactures, markets, and services equipment primarily used in asphalt and concrete road construction.
- **Product Lifecycle Coverage**: Equipment used in various phases of road building, from quarrying and crushing aggregate to applying the road surface.
- **Additional Products**:
  - Industrial automation controls and telematics platforms.
  - Equipment for industries such as mining, quarrying, demolition, land clearing, recycling, and port/rail yard operations.
  - Industrial heat transfer equipment.
  - Commercial pulpwood chippers, horizontal grinders, blower trucks, burners, and combustion control systems.

## Markets & Customers
- **Primary Customers**:
  - Asphalt and concrete producers.
  - Highway and heavy equipment contractors.
  - Utility contractors.
  - Sand and gravel producers.
  - Construction, demolition, recycling, and crushing contractors.
  - Forestry and environmental recycling contractors.
  - Mine and quarry operators.
  - Port and inland terminal authorities.
  - Power stations.
  - Domestic and foreign government agencies.

- **Sales & Distribution**:
  - Marketed domestically and internationally.
  - Sold through direct support sales staff, independent distributors, and regional international sites.
  - Also involves sale of replacement parts, which is an integral part of the business.

## Employees & Corporate Data
- **Number of Employees** (as of December 31, 2024): **4,148** total.
  - **U.S. and Canada**: 3,419 employees.
  - **Manufacturing**: 2,626 employees.
  - **Engineering support**: 431 employees.
  - **Sales, administrative, management**: 1,091 employees.
- **Global Presence**:
  - Manufacturing and operational sites in the U.S., Canada, Brazil, South Africa, the UK, Australia, Chile, and other regions.
  - International subsidiaries active in Belgium, France, the UK, Brazil, Australia, and Canada.

## Revenue & Financials (for the fiscal year ending December 31, 2024)
- **Total Revenue (Net Sales)**: **$1.305 billion** (decreased 2.5% from prior year).
- **Gross Profit**: **$327.9 million** (decreased 0.9%).
- **Net Income Attributable to Astec**: **$4.3 million** (decreased 87.2%, mainly due to impairment and other charges).
- **Earnings Per Share**: **$0.19** (diluted).
- **Revenue Breakdown**:
  - Domestic sales: $1.015 billion (77.8% of total).
  - International sales: $289.7 million (22.2% of total).
- **Backlog (as of Dec 31, 2024)**: **$419.6 million**, down 26.4% from $569.8 million in the previous year.

## Segment Structure
- **Infrastructure Solutions**:
  - Products: Asphalt plants, concrete plants, related components, asphalt paving equipment, industrial heating systems, recycling equipment, control systems, telematics.
  - Key focus: Innovative asphalt production, environmental sustainability, portable plants, emission reductions.
  - Revenue (2024): **$837.4 million** (up 4.6%).

- **Materials Solutions**:
  - Products: Crushing equipment, screening, washing, conveying, mineral processing equipment, automation, and turnkey processing systems.
  - Locations: U.S., Brazil, Canada, South Africa, UK, Australia, Chile, Thailand.
  - Revenue (2024): **$467.7 million** (down 13.0%).

## Employees & Talent
- Emphasizes a culture guided by safety, integrity, innovation, respect, and devotion.
- Aims to attract and retain top talent with competitive compensation, safety focus, and professional development.
- Union representation affects around 2% of U.S. employees, 12% outside the U.S.
- Focus on diversity and inclusion, leadership training, succession planning, and employee engagement.

## Additional Notes
- The company has transitioned to segment reporting for operations in Australia, Chile, and Astec Digital starting 2024.
- Implements strategic transformation, including an ERP upgrade, invest in innovation, and respond to macroeconomic factors influencing costs and demand.
- The company’s business is cyclically affected by the broader economy, infrastructure spending, commodity prices, and international trade policies.
- Key suppliers include steel mills, and product innovation focuses on emissions reduction, automation, and digital connectivity.

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*This summary consolidates the detailed operational, financial, and strategic data provided by Astec Industries, Inc.*

ASTEC INDUSTRIES INC

10-K / February 25, 2026

10-K / February 26, 2025

10-K / February 25, 2026

Astec Industries, Inc.

What the company does

Products, platforms, and services

Markets and customers

Aftermarket and parts

Corporate strategy, culture, and focus

Recent acquisitions