On this page of StockholderLetter.com we present the latest annual shareholder letter from ASTEC INDUSTRIES INC — ticker symbol ASTE. Reading current and past ASTE letters to shareholders can bring important insights into the investment thesis.
ASPHALT CONCRETE INDUSTRIAL HEATING SYSTEMS MATERIAL HANDLING ROAD CONSTRUCTION FORESTRY AND ENVIRONMENTAL RECYCLING MOBILE CRUSHING AND SCREENING ROCK BREAKER TECHNOLOGY CRUSHING SCREENS AND FEEDERS WASHING AND CLASSIFYING ASTEC DIGITAL TRAINING PARTS
About the Company Astec is a leading manufacturer of equipment for asphalt road building, aggregate processing, concrete production and environmental recycling. Products include rock crushing and screening plants, hot mix asphalt facilities, concrete plants, milling machines, asphalt pavers, material transfer vehicles and horizontal grinding equipment.
2024 ANNUAL REPORT At A Glance *As of February 21, 2025 OUR VISION We are committed to pushing boundaries and redefining what s possible for our team members, customers, and communities. In 2023, we launched a new vision statement that reflects this renewed focus on innovation with impact. Headquarters Employees Chattanooga, TN, USA ~ 4,148 Market-cap Stock Symbol ~$706 Million NASDAQ: ASTE Core Values SAFETY INTEGRITY DEVOTION RESPECT To build industry changing solutions that provide life-changing opportunities. At Astec, we strive to be a company where vision becomes reality, and every solution is a pathway to change lives. Rock to Road Value Chain Astec offers a full line of high-quality products to facilitate construction from Rock to Road. This allows customers to choose the equipment and parts they need from one trusted source. OneAstec makes the purchasing process easier while providing greater value to the customer. INNOVATION INFRASTRUCTURE SOLUTIONS MATERIALS SOLUTIONS Asphalt and Concrete Plants, Industrial Heating, Construction Machinery Crushing and Screening for Raw Materials 1
2 ASTEC INDUSTRIES, INC. Performance at a Glance Data (in millions, except amounts per share) 2024 2023 2022 CONSOLIDATED NET SALES $1,305.1 $1,338.2 $1,274.5 SEGMENT NET SALES: Infrastructure Solutions $837.4 $800.4 $764.2 Materials Solutions $467.7 $537.8 $510.3 TOTAL CONSOLIDATED NET SALES $1,305.1 $1,338.2 $1,274.5 SALES BY GEOGRAPHIC REGION: United States $1,015.4 $1,083.4 $1,014.3 Canada $67.4 $58.5 $63.0 Australia and Oceania $52.3 $55.7 $46.7 Africa $40.5 $36.6 $36.1 Brazil $32.9 $27.0 $24.8 Europe $30.9 $28.7 $31.0 Mexico $23.8 $8.4 $10.7 South America (Excluding Brazil) $17.8 $19.8 $20.0 Asia $12.9 $8.6 $13.6 Central America (Excluding Mexico) $5.6 $4.1 $10.7 Other $5.6 $7.4 $3.6 TOTAL FOREIGN $289.7 $254.8 $260.2 TOTAL CONSOLIDATED NET SALES $1,305.1 $1,338.2 $1,274.5 DILUTED EARNINGS PER SHARE $0.19 $1.47 DIVIDEND PAID PER SHARE Q1 $0.13 $0.13 $0.12 Q2 $0.13 $0.13 $0.12 Q3 $0.13 $0.13 $0.12 Q4 $0.13 $0.13 $0.13 TOTAL $0.52 $0.52 $0.49
2023 ANNUAL REPORT A Message from the CEO JACO VAN DER MERWE PRESIDENT AND CEO Dear Fellow Shareholders Throughout the past year at Astec, we were guided by our strategy and purpose, Built to Connect. Our Infrastructure Solutions and Materials Solutions groups were committed to further enhancing our consistency, continuing a culture of execution, and driving growth. We went into 2024 with a renewed vision statement To build industry changing solutions that create life-changing opportunities. This vision propelled us forward, inspiring us to push the boundaries of innovation, and drive positive change for our employees, customers, and communities. 3
 • shareholder letter icon 2/26/2025 Letter Continued (Full PDF)
 • stockholder letter icon 3/2/2023 ASTE Stockholder Letter
 • stockholder letter icon 2/29/2024 ASTE Stockholder Letter
 • stockholder letter icon More "Construction" Category Stockholder Letters
 • Benford's Law Stocks icon ASTE Benford's Law Stock Score = 100


ASTE Shareholder/Stockholder Letter Transcript:

ASPHALT     CONCRETE     INDUSTRIAL HEATING SYSTEMS     MATERIAL HANDLING     ROAD CONSTRUCTION
FORESTRY AND ENVIRONMENTAL RECYCLING     MOBILE CRUSHING AND SCREENING     ROCK BREAKER TECHNOLOGY
CRUSHING    SCREENS AND FEEDERS     WASHING AND CLASSIFYING     ASTEC DIGITAL     TRAINING     PARTS

About the Company
Astec is a leading manufacturer of equipment
for asphalt road building, aggregate
processing, concrete production and
environmental recycling. Products include
rock crushing and screening plants, hot mix
asphalt facilities, concrete plants, milling
machines, asphalt pavers, material transfer
vehicles and horizontal grinding equipment.

2024 ANNUAL REPORT
At A Glance
*As of February 21, 2025
OUR VISION
We are committed to pushing boundaries and redefining what   s
possible for our team members, customers, and communities. In 2023,
we launched a new vision statement that reflects this renewed focus
on innovation with impact.
Headquarters
Employees
Chattanooga, TN, USA
~ 4,148
Market-cap
Stock Symbol
~$706 Million
NASDAQ: ASTE
Core Values
SAFETY
INTEGRITY
DEVOTION
RESPECT
To build industry changing solutions that
provide life-changing opportunities.
At Astec, we strive to be a company where vision becomes reality,
and every solution is a pathway to change lives.
Rock to Road   
Value Chain
Astec offers a full line of high-quality products to facilitate
construction from Rock to Road. This allows customers to choose
the equipment and parts they need from one trusted source.
OneAstec makes the purchasing process easier while providing
greater value to the customer.
INNOVATION
INFRASTRUCTURE
SOLUTIONS
MATERIALS
SOLUTIONS
Asphalt and Concrete
Plants, Industrial Heating,
Construction Machinery
Crushing and Screening
for Raw Materials
1

2
ASTEC INDUSTRIES, INC.
Performance at a Glance Data
(in millions, except amounts per share)

2024
2023
2022
CONSOLIDATED NET SALES
$1,305.1
$1,338.2
$1,274.5
SEGMENT NET SALES:    
Infrastructure Solutions
$837.4
$800.4
$764.2
Materials Solutions
$467.7
$537.8
$510.3
TOTAL CONSOLIDATED NET SALES
$1,305.1
$1,338.2
$1,274.5
SALES BY GEOGRAPHIC REGION:    
United States
$1,015.4
$1,083.4
$1,014.3
Canada
$67.4
$58.5
$63.0
Australia and Oceania
$52.3
$55.7
$46.7
Africa
$40.5
$36.6
$36.1
Brazil
$32.9
$27.0
$24.8
Europe
$30.9
$28.7
$31.0
Mexico
$23.8
$8.4
$10.7
South America (Excluding Brazil)
$17.8
$19.8
$20.0
Asia
$12.9
$8.6
$13.6
Central America (Excluding Mexico)
$5.6
$4.1
$10.7
Other
$5.6
$7.4
$3.6
TOTAL FOREIGN
$289.7
$254.8
$260.2
TOTAL CONSOLIDATED NET SALES
$1,305.1
$1,338.2
$1,274.5
DILUTED EARNINGS PER SHARE
$0.19
$1.47
DIVIDEND PAID PER SHARE    
Q1
$0.13
$0.13
$0.12
Q2
$0.13
$0.13
$0.12
Q3
$0.13
$0.13
$0.12
Q4
$0.13
$0.13
$0.13
TOTAL
$0.52
$0.52
$0.49

2023 ANNUAL REPORT
A Message from the CEO
JACO VAN DER MERWE PRESIDENT AND CEO
Dear Fellow Shareholders
Throughout the past year at Astec, we were guided by our
strategy and purpose, Built to Connect. Our Infrastructure
Solutions and Materials Solutions groups were committed
to further enhancing our consistency, continuing a culture
of execution, and driving growth.
We went into 2024 with a renewed vision statement     To
build industry changing solutions that create life-changing
opportunities. This vision propelled us forward, inspiring
us to push the boundaries of innovation, and drive positive
change for our employees, customers, and communities.
3



shareholder letter icon 2/26/2025 Letter Continued (Full PDF)
 

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