Astec Industries, Inc. (ASTE) Q1 2024 Earnings Call Transcript


Astec Industries, Inc. (NASDAQ:ASTE) Q1 2024 Earnings Conference Call May 1, 2024 8:30 AM ET

Company Participants

Steve Anderson – Senior VP of Administration and IR
Jaco van der Merwe – CEO
Heinrich Jonker – Interim CFO

Conference Call Participants

Stanley Elliott – Stifel
Mig Dobre – Baird
Stephen Ferazani – Sidoti
Brian Sponheimer – Gabelli Funds


Hello, and welcome to Astec Industries First Quarter Earnings Call. As a reminder, this conference call is being recorded. It is my pleasure to introduce your host, Steve Anderson, Senior Vice President of Administration and Investor Relations. Mr. Anderson, you may begin.

Steve Anderson

Thank you, and good morning, everyone. Joining me on today’s call are our President and Chief Executive Officer, Jaco van der Merwe; and our Interim Chief Financial Officer, Heinrich Jonker. In just a moment, I’ll turn the call over to Jaco to provide comments, and then Heinrich will summarize our financial results.

Before we begin, I’ll remind you that our discussion this morning may contain forward-looking statements that relate to the future performance of the company, and these statements are intended to qualify for the safe harbor liability established by the Private Securities Litigation Reform Act. Any such statements are not guarantees of future performance and are subject to certain risks, uncertainties and assumptions. Factors that could influence our results are highlighted in today’s earnings release and others are contained in our filings with the SEC. As usual, we ask that you familiarize yourself with those factors.

In an effort to provide investors with additional information regarding the company results, we refer to various non-GAAP financial measures, which management believes provide useful information to investors. These non-GAAP financial measures have no standardized meaning prescribed by U.S. GAAP and are, therefore, unlikely to be comparable to the calculation of similar measures for other companies. Management of

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