Astec Third-Quarter Net Sales of $352.4 Million: Backlog Up 49% to $670.5 Million as Full-Year Earnings Guidance Is Cut
Chattanooga — Astec Industries, a manufacturer of road-building and infrastructure equipment headquartered in Chattanooga, Tennessee, on November 5 reported third-quarter 2026 results: net sales of $352.4 million, up 0.7% from $350.1 million a year earlier; a net loss attributable to controlling interest of $12.2 million, or a diluted loss of $0.53 per share; an adjusted net loss of $0.3 million; EBITDA of $11.4 million and adjusted EBITDA of $18.9 million.
By segment, Infrastructure Solutions net sales were $189.0 million, down 2.2%, driven by unfavorable volume and mix partially offset by favorable pricing, while Materials Solutions net sales rose 4.1% to $163.4 million on favorable pricing and volume and mix. The company's backlog grew 49.2% to $670.5 million, with Infrastructure Solutions backlog up 47.0% and Materials Solutions backlog up 52.1%.
Total liquidity was $267.2 million, consisting of $63.2 million of cash and cash equivalents and $204.0 million available under its revolving credit facility. Operating cash flow in the quarter was $17.4 million and free cash flow was $10.7 million; capital expenditures were $6.7 million and the company paid a dividend of $0.13 per share.
Astec revised its full-year 2026 adjusted EBITDA guidance from the previous range of $160 million to $175 million down to $140 million to $150 million. Chief Financial Officer Brian Harris said positive cash flow and disciplined capital allocation yielded an adjusted EBITDA to net debt ratio of 2.3x, within the company's target range of 1.5x to 2.5x.
Chief Executive Officer Jaco van der Merwe said third-quarter results were less than expected as ongoing macroeconomic uncertainty caused a pause in orders earlier in the year by select asphalt plant customers, which, combined with inflationary headwinds, affected sales, mix and margins; despite the temporary pause and the delayed renewal of the U.S. federal highway bill, he said, underlying demand rebounded in the third quarter, as evidenced by the 49.2% growth in backlog. (Source: Astec Industries)
Source: Astec Industries
Published by GSM · USA (original Chinese edition)
Photo: 图：一座沥青搅拌站。沥青与混凝土工厂设备是 Astec Industries 的核心产品线。Globetrotter19 摄，CC BY-SA 3.0，经 Wikimedia Commons。 / Photo: An asphalt mixing plant; asphalt and concrete plant equipment is Astec Industries' core product line. By Globetrotter19, CC BY-SA 3.0, via Wikimedia Commons.
