Astec Industries, Inc. (Nasdaq: ASTE) announced today its financial
results for fourth quarter and full-year ended December 31, 2019.
Fourth Quarter 2019 Results
Fourth quarter net sales of $283.2 million
decreased 10.7% compared to $317.0 million for the fourth quarter
of 2018. Domestic sales of $209.6 million decreased 15.5% from
$248.2 million a year ago, while International sales of $73.6
million increased 7.0% from $68.8 million in the fourth quarter of
2018. Excluding the impact of foreign currency, net sales decreased
10.4%.
Backlog as of December 31, 2019 of $263.7
million decreased by $81.3 million, or 23.6% compared to the
backlog of $344.9 million a year ago. Domestic backlog decreased by
25.4% to $194.5 million from $260.7 million in 2018. International
backlog of $69.2 million decreased compared to $84.2 million last
year. Although we experienced a decline in each segment, weakness
was concentrated in the Aggregate and Mining Group as dealers had
increased their inventory levels throughout 2018 to meet demand but
then began to destock in 2019.
An operating loss of $28.1 million compared to a
loss of $69.4 million in the fourth quarter 2018. In relation
to the company’s efforts to simplify the organization, the company
incurred a $9.9 million pre-tax restructuring charge, or $0.34 per
diluted share for the fourth quarter. The restructuring items are
related to the expected sale of the GEFCO subsidiary, closure of
our German operation and the transfer of the CEI products to Heatec
and RexCon. In the fourth quarter of 2019, after considering new
management’s revised inventory control and working capital control
objectives and the Company’s assessment of the age, quantities on
hand, market acceptance of the equipment, and other related
factors, it was determined that various specific equipment models
in each of the Company’s business units required additions to their
net realizable value reserves. The fourth quarter results include a
pre-tax inventory write-down of $26.5 million or $0.91 per diluted
share. Fourth quarter adjusted operating income of $8.4 million
decreased 60.5% compared to $21.2 million a year ago.
Adjusted operating margin of 3.0% declined 370 basis points from
6.7% in fourth quarter 2018. Adjusted operating income
declined primarily due to the lower volumes. SGA&E
expenses declined 4.0% on a dollar basis but increased as a percent
of sales 130 basis points to 18.6% from 17.3% in the fourth quarter
of 2018 due to the decline in sales.
Adjusted EBITDA of $15.0 million decreased 46.6%
compared to $28.0 million a year ago. Adjusted EBITDA margin
of 5.3% declined 350 basis points from 8.8% in fourth quarter
2018.
Net loss of $19.2 million or $0.85 per diluted
share, compared to a net loss of $47.0 million or $2.08 per diluted
share for the fourth quarter of 2018. Excluding unusual items
and restructuring charges mentioned above, adjusted net income of
$9.0 million decreased 35.4% compared to the same period a year
ago. Adjusted EPS of $0.40 decreased 34.4% compared to $0.61
last year.
“Fourth quarter results showed continued
softness in North America that was partially offset by an increase
in international sales. Despite the temporary headwinds, I am
encouraged by the progress we are making towards our strategic
initiatives to Simplify, Focus and Grow the organization,” stated
Barry Ruffalo, CEO of Astec Industries, Inc. “As recently
announced, we are in the process of marketing the GEFCO business
for sale. This will further simplify the organization,
strengthen our financial position and release additional capital to
deploy toward strategic growth opportunities. Additionally, we have
taken important steps to restructure the company and streamline
business units to increase internal transparency and improve the
decision-making process. These collective actions are important in
building the foundation for the future success of Astec
Industries.”
Full Year 2019 Results
Net sales for 2019 were $1,169.6 million, or
relatively flat when compared to 2018. Domestic sales
decreased 0.8% to $908.5 million from $915.8 million a year ago,
while International sales increased 2.1% to $261.1 million from
$255.8 million in 2018. Excluding the impact of foreign
currency, net sales increased
0.6%.
Operating income of $23.9 million compares to a
loss of $86.4 million in 2018. The company incurred a total
of $37.9 million in pre-tax restructuring charges and inventory
write-downs for 2019, or $1.36 per diluted share. Adjusted
operating income of $41.8 million decreased 52.4% compared to $87.8
million in 2018. Adjusted operating margin of 3.6% declined
340 basis points from 7.0% in 2018. Adjusted operating income
declined primarily because of a reduction in gross margin of 180
basis points to 22.0% from 23.8% in 2018.
Adjusted EBITDA of $68.3 million decreased 41.3%
compared to $116.3 million in 2018. Adjusted EBITDA margin of
5.9% declined 340 basis points from 9.3% in 2018.
Net income of $21.5 million or $0.95 per diluted
share, compared to a net loss of $60.4 million or $2.64 per diluted
share in 2018. Adjusted net income of $36.0 million decreased
46.6% compared to 2018. Adjusted EPS of $1.59 decreased 45.9%
compared to $2.94 last year.
The Company identified certain material
weaknesses in its internal control over financial reporting.
As a result, the Company needs additional time to complete the
compilation of information and finalization of its assessment of
the effectiveness of internal control over financial reporting for
its consolidated financial statements and related disclosures to be
filed as part of the 2019 Form 10-K. The Company has filed a
Form 12b-25 with the Securities and Exchange Commission in order to
extend the due date of its 2019 Annual Report on Form 10-K for 15
days, as permitted by Rule 12b-25 under the Securities Exchange
Act.
Investor Conference Call and Web
Simulcast
Astec will conduct a conference call and live
webcast today, March 4, 2020, at 10:00 A.M. Eastern Time, to review
its fourth quarter and year end results as well as current business
conditions. The number to call for this interactive teleconference
is (877) 407-9210 (at least 10 minutes prior to the scheduled time
for the call). International callers should dial (201)
689-8049. You may also access a live webcast of the call by
visiting https//www.webcaster4.com/Webcast/Page/2146/33412.
You will need to give your name and company affiliation and
reference Astec Industries. An archived webcast will be
available for ninety days at www.astecindustries.com.
A replay of the conference call will be
available through March 17, 2020 by dialing (877) 481-4010, or
(919) 882-2331 for international callers, Conference ID #33412. A
transcript of the conference call will be made available under the
Investor Relations section of the Astec Industries, Inc. website
within 5 business days after the call.
About Astec Industries,
Inc.
Astec Industries, Inc.,
(www.astecindustries.com), is a manufacturer of specialized
equipment for asphalt road building, aggregate processing and
concrete production. Astec’s manufacturing operations are divided
into three primary business segments: road building,
(Infrastructure Group); aggregate processing and mining equipment
(Aggregate and Mining Group); and a diversified portfolio of
equipment used in various industries including energy-related
markets (Energy Group).
Forward-Looking StatementsThe
information contained in this press release contains
“forward-looking statements” (within the meaning of the Private
Securities Litigation Reform Act of 1995) regarding the future
performance of the Company, including statements about the effects
on the Company from (i) restructuring initiatives, (ii) the
potential sale of the GEFCO business, (iii) increases in
international demand, and (iv) product demand in North America.
These forward-looking statements reflect management’s expectations
and are based upon currently available information, and the Company
undertakes no obligation to update or revise such statements.
These statements are not guarantees of performance and are
inherently subject to risks and uncertainties, many of which cannot
be predicted or anticipated. Future events and actual
results, financial or otherwise, could differ materially from those
expressed in or implied by the forward-looking statements.
Important factors that could cause future events or actual results
to differ materially include: general uncertainty in the
economy, oil, gas and liquid asphalt prices, rising steel prices,
decreased funding for highway projects, the relative
strength/weakness of the dollar to foreign currencies, production
capacity, general business conditions in the industry, demand for
the Company’s products, seasonality and cyclicality in operating
results, seasonality of sales volumes or lower than expected sales
volumes, lower than expected margins on custom equipment orders,
competitive activity, tax rates and the impact of future
legislation thereon, and those other factors listed from time to
time in the Company’s reports filed with the Securities and
Exchange Commission, including but not limited to the Company’s
annual report on Form 10-K for the year ended December 31,
2018.
For Additional Information Contact: Steve
Anderson Senior Vice President Administration, Investor
Relations & Corporate Secretary Phone: (423)
899-5898 Fax: (423) 899-4456
E-mail: sanderson@astecindustries.com
|
|
|
Astec Industries, Inc. |
|
|
Condensed Consolidated Balance Sheets |
|
|
(in thousands) |
|
|
(unaudited) |
|
|
|
|
|
|
Dec |
Dec |
|
|
|
|
2019 |
|
|
2018 |
|
|
|
Assets |
|
|
|
|
Current assets |
|
|
|
|
Cash and cash equivalents |
$ |
48,857 |
|
$ |
25,821 |
|
|
|
Investments |
|
1,547 |
|
|
1,946 |
|
|
|
Receivables and contract assets, net |
|
124,103 |
|
|
133,978 |
|
|
|
Inventories |
|
278,863 |
|
|
355,944 |
|
|
|
Prepaid expenses and other |
|
59,603 |
|
|
43,302 |
|
|
|
Total current assets |
|
512,973 |
|
|
560,991 |
|
|
|
Property and equipment, net |
|
182,404 |
|
|
192,448 |
|
|
|
Other assets |
|
104,387 |
|
|
102,018 |
|
|
|
Total assets |
$ |
799,764 |
|
$ |
855,457 |
|
|
|
Liabilities and equity |
|
|
|
|
Current liabilities |
|
|
|
|
Accounts payable - trade |
$ |
55,055 |
|
$ |
70,614 |
|
|
|
Other current liabilities |
|
117,873 |
|
|
118,617 |
|
|
|
Total current liabilities |
|
172,928 |
|
|
189,231 |
|
|
|
Long-term debt, less current maturities |
|
690 |
|
|
59,709 |
|
|
|
Non-current liabilities |
|
24,490 |
|
|
21,227 |
|
|
|
Total equity |
|
601,656 |
|
|
585,290 |
|
|
|
Total liabilities and equity |
$ |
799,764 |
|
$ |
855,457 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Astec Industries, Inc. |
Condensed Consolidated Statements of
Operations |
(in thousands, except per share data) |
(unaudited) |
|
|
|
|
Three Months Ended |
Twelve Months Ended |
|
Dec 31 |
Dec 31 |
|
|
2019 |
|
|
2018 |
|
|
2019 |
|
|
2018 |
|
Net sales |
$ |
283,224 |
|
$ |
317,005 |
|
$ |
1,169,613 |
|
$ |
1,171,599 |
|
Cost of sales |
|
248,797 |
|
|
318,636 |
|
|
923,159 |
|
|
1,035,833 |
|
Gross profit (loss) |
|
34,427 |
|
|
(1,631 |
) |
|
246,454 |
|
|
135,766 |
|
Selling, general, administrative & engineering expenses |
|
52,554 |
|
|
54,732 |
|
|
211,148 |
|
|
209,127 |
|
Restructuring and asset impairment charges |
|
9,942 |
|
|
13,060 |
|
|
11,373 |
|
|
13,060 |
|
Income (loss) from operations |
|
(28,069 |
) |
|
(69,423 |
) |
|
23,933 |
|
|
(86,421 |
) |
Interest expense |
|
(68 |
) |
|
(557 |
) |
|
(1,367 |
) |
|
(1,045 |
) |
Other |
|
250 |
|
|
11 |
|
|
1,629 |
|
|
1,783 |
|
Income (loss) before income taxes |
|
(27,887 |
) |
|
(69,969 |
) |
|
24,195 |
|
|
(85,683 |
) |
Income taxes |
|
(8,701 |
) |
|
(22,932 |
) |
|
2,720 |
|
|
(25,234 |
) |
Net income (loss) attributable to controlling interest |
$ |
(19,186 |
) |
$ |
(47,037 |
) |
$ |
21,475 |
|
$ |
(60,449 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Earnings (loss) per Common Share |
|
|
|
|
Net income (loss) attributable to controlling interest |
|
|
|
|
Basic |
$ |
(0.85 |
) |
$ |
(2.08 |
) |
$ |
0.95 |
|
$ |
(2.64 |
) |
Diluted |
$ |
(0.85 |
) |
$ |
(2.08 |
) |
$ |
0.95 |
|
$ |
(2.64 |
) |
|
|
|
|
|
|
|
|
|
|
Weighted average common shares outstanding |
|
|
|
|
Basic |
|
22,531 |
|
|
22,582 |
|
|
22,515 |
|
|
22,902 |
|
Diluted |
|
22,531 |
|
|
22,582 |
|
|
22,674 |
|
|
22,902 |
|
|
|
|
|
|
|
Astec Industries, Inc. |
Segment Revenues and Profits (Losses) |
For the three months ended December 31, 2019 and 2018 |
(in thousands) |
(unaudited) |
|
InfrastructureGroup |
Aggregate andMining Group |
EnergyGroup |
Corporate |
Total |
2019 Revenues |
115,671 |
|
|
91,981 |
|
|
75,170 |
|
|
402 |
|
283,224 |
|
2018 Revenues |
124,930 |
|
|
116,064 |
|
|
76,011 |
|
|
- |
|
317,005 |
|
Change $ |
(9,259 |
) |
|
(24,083 |
) |
|
(841 |
) |
|
402 |
|
(33,781 |
) |
Change % |
(7.4 |
%) |
|
(20.7 |
%) |
|
(1.1 |
%) |
|
- |
|
(10.7 |
%) |
|
|
|
|
|
|
2019 Gross Profit |
11,220 |
|
|
13,041 |
|
|
8,511 |
|
|
1,655 |
|
34,427 |
|
2019 Gross Profit % |
9.7 |
% |
|
14.2 |
% |
|
11.3 |
% |
|
411.7 |
% |
12.2 |
% |
2018 Gross Profit (Loss) |
(41,462 |
) |
|
30,347 |
|
|
9,375 |
|
|
109 |
|
(1,631 |
) |
2018 Gross Profit (Loss) % |
(33.2 |
%) |
|
26.1 |
% |
|
12.3 |
% |
|
- |
|
(0.5 |
%) |
Change |
52,682 |
|
|
(17,306 |
) |
|
(864 |
) |
|
1,546 |
|
36,058 |
|
|
|
|
|
|
|
2019 Loss |
(3,815 |
) |
|
(179 |
) |
|
(12,192 |
) |
|
(3,070 |
) |
(19,256 |
) |
2018 Profit (Loss) |
(69,833 |
) |
|
10,796 |
|
|
(13,336 |
) |
|
22,015 |
|
(50,358 |
) |
Change $ |
66,018 |
|
|
(10,975 |
) |
|
1,144 |
|
|
(25,085 |
) |
31,102 |
|
Change % |
94.5 |
% |
|
(101.7 |
%) |
|
8.6 |
% |
|
(113.9 |
%) |
61.8 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
Segment revenues are reported net of intersegment revenues. Segment
gross profit (loss) is net of profit on intersegment revenues.
A reconciliation of total segment profits (losses) to the Company's
net income (loss) attributable to controlling interest is as
follows (in thousands): |
|
|
|
|
|
|
|
|
Three months ended December 31 |
|
|
|
|
2019 |
|
|
2018 |
|
Change $ |
|
Total loss for all segments |
|
$ |
(19,256 |
) |
$ |
(50,358 |
) |
$ |
31,102 |
|
|
Recapture of intersegment profit |
|
64 |
|
|
3,263 |
|
|
(3,199 |
) |
|
Net loss attributable to non-controlling interest |
|
6 |
|
|
58 |
|
|
(52 |
) |
|
Net loss attributable to controlling interest |
$ |
(19,186 |
) |
$ |
(47,037 |
) |
$ |
27,851 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Astec Industries, Inc. |
Segment Revenues and Profits (Losses) |
For the year ended December 31, 2019 and 2018 |
(in thousands) |
(unaudited) |
|
InfrastructureGroup |
Aggregate andMining Group |
EnergyGroup |
Corporate |
Total |
2019 Revenues |
492,118 |
|
|
404,971 |
|
|
272,122 |
|
|
402 |
|
1,169,613 |
|
2018 Revenues |
442,289 |
|
|
453,164 |
|
|
276,146 |
|
|
- |
|
1,171,599 |
|
Change $ |
49,829 |
|
|
(48,193 |
) |
|
(4,024 |
) |
|
402 |
|
(1,986 |
) |
Change % |
11.3 |
% |
|
(10.6 |
%) |
|
(1.5 |
%) |
|
- |
|
(0.2 |
%) |
|
|
|
|
|
|
2019 Gross Profit |
105,012 |
|
|
84,917 |
|
|
54,719 |
|
|
1,806 |
|
246,454 |
|
2019 Gross Profit % |
21.3 |
% |
|
21.0 |
% |
|
20.1 |
% |
|
449.3 |
% |
21.1 |
% |
2018 Gross Profit (Loss) |
(37,357 |
) |
|
112,972 |
|
|
59,751 |
|
|
400 |
|
135,766 |
|
2018 Gross Profit (Loss) % |
(8.4 |
%) |
|
24.9 |
% |
|
21.6 |
% |
|
- |
|
11.6 |
% |
Change |
142,369 |
|
|
(28,055 |
) |
|
(5,032 |
) |
|
1,406 |
|
110,688 |
|
|
|
|
|
|
|
2019 Profit (Loss) |
35,449 |
|
|
22,790 |
|
|
(567 |
) |
|
(37,491 |
) |
20,181 |
|
2018 Profit (Loss) |
(112,954 |
) |
|
45,464 |
|
|
3,070 |
|
|
1,586 |
|
(62,834 |
) |
Change $ |
148,403 |
|
|
(22,674 |
) |
|
(3,637 |
) |
|
(39,077 |
) |
83,015 |
|
Change % |
131.4 |
% |
|
(49.9 |
%) |
|
(118.5 |
%) |
|
(2463.9 |
%) |
132.1 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
Segment revenues are reported net of intersegment revenues. Segment
gross profit (loss) is net of profit on intersegment revenues. A
reconciliation of total segment profits (losses) to the Company's
net income (loss) attributable to controlling interest is as
follows (in thousands): |
|
|
|
|
|
|
|
|
Twelve months ended December 31 |
|
|
|
|
2019 |
|
|
2018 |
|
Change $ |
|
Total profit (loss) for all segments |
$ |
20,181 |
|
$ |
(62,834 |
) |
$ |
83,015 |
|
|
Recapture of intersegment profit |
|
1,162 |
|
|
2,090 |
|
|
(928 |
) |
|
Net loss attributable to non-controlling interest |
|
132 |
|
|
295 |
|
|
(163 |
) |
|
Net income (loss) attributable to controlling interest |
|
$ |
21,475 |
|
$ |
(60,449 |
) |
$ |
81,924 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Astec Industries, Inc. |
|
Backlog by Segment |
|
December 31, 2019 and 2018 |
|
(in thousands) |
|
(unaudited) |
|
|
InfrastructureGroup |
Aggregate andMining Group |
EnergyGroup |
Total |
|
2019 Backlog |
139,081 |
|
|
74,127 |
|
|
50,497 |
|
|
263,705 |
|
|
2018 Backlog |
149,437 |
|
|
130,691 |
|
|
64,834 |
|
|
344,962 |
|
|
Change $ |
(10,356 |
) |
|
(56,564 |
) |
|
(14,337 |
) |
|
(81,257 |
) |
|
Change % |
(6.9 |
%) |
|
(43.3 |
%) |
|
(22.1 |
%) |
|
(23.6 |
%) |
|
|
|
|
|
|
|
|
Glossary |
In its earnings
release, Astec refers to various GAAP (U.S. generally accepted
accounting principles) and non-GAAP financial measures. These
non-GAAP measures may not be comparable to similarly titled
measures being disclosed by other companies. Non-GAAP financial
measures should be considered in addition to, and not in lieu of,
GAAP financial measures. Nonetheless, this non-GAAP information can
be useful in understanding the Company's operating results and the
performance of its core businesses. |
|
The amounts
described below are unaudited, reported in thousands of U.S.
Dollars (Except Share data), and as of or for the periods
indicated. |
|
|
|
|
Q4 2019 GAAP to Non-GAAP Reconciliation Table |
|
|
|
|
|
As
Reported |
Restructuring and |
As
Adjusted |
Consolidated |
(GAAP) |
Unusual Charges |
(Non-GAAP) |
|
|
|
|
|
|
|
|
|
|
Net Sales |
$ |
283,224 |
|
$ |
- |
|
$ |
283,224 |
|
GP |
|
34,427 |
|
|
26,509 |
|
|
60,936 |
|
GP% |
|
12.2 |
% |
|
|
21.5 |
% |
Op Income
(Loss) |
|
(28,069 |
) |
|
36,453 |
|
|
8,384 |
|
Income Tax
(Benefit) Expense |
|
(8,701 |
) |
|
8,245 |
|
|
(456 |
) |
Net Income
(Loss) |
|
(19,186 |
) |
|
28,208 |
|
|
9,022 |
|
EPS |
|
(0.85 |
) |
|
1.25 |
|
|
0.40 |
|
EBITDA |
|
(21,495 |
) |
|
36,452 |
|
|
14,957 |
|
Free Cash
Flow |
|
22,870 |
|
|
10,494 |
|
|
33,364 |
|
|
|
|
|
|
|
|
|
Infrastructure |
|
|
|
Net
Sales |
|
115,671 |
|
|
- |
|
|
115,671 |
|
GP |
|
11,220 |
|
|
12,098 |
|
|
23,318 |
|
GP% |
|
9.7 |
% |
|
|
20.2 |
% |
EBITDA |
|
(2,656 |
) |
|
12,479 |
|
|
9,823 |
|
|
|
|
|
Aggregate and Mining |
|
|
|
Net
Sales |
|
91,981 |
|
|
- |
|
|
91,981 |
|
GP |
|
13,041 |
|
|
4,261 |
|
|
17,302 |
|
GP% |
|
14.2 |
% |
|
|
18.8 |
% |
EBITDA |
|
97 |
|
|
4,511 |
|
|
4,608 |
|
|
|
|
|
Energy |
|
|
|
Net
Sales |
|
75,170 |
|
|
- |
|
|
75,170 |
|
GP |
|
8,511 |
|
|
10,150 |
|
|
18,661 |
|
GP% |
|
11.3 |
% |
|
|
24.8 |
% |
EBITDA |
|
(10,046 |
) |
|
19,463 |
|
|
9,417 |
|
|
|
|
|
|
|
|
|
Q4 2018 GAAP to Non-GAAP Reconciliation Table |
|
|
|
|
|
As
Reported |
Restructuring and |
As
Adjusted |
Consolidated |
(GAAP) |
Unusual Charges |
(Non-GAAP) |
|
|
|
|
|
|
|
|
|
|
Net
Sales |
$ |
317,005 |
|
$ |
- |
|
$ |
317,005 |
|
GP |
|
(1,631 |
) |
|
77,574 |
|
|
75,943 |
|
GP% |
|
(0.5 |
%) |
|
|
24.0 |
% |
Op Income
(Loss) |
|
(69,423 |
) |
|
90,634 |
|
|
21,211 |
|
Income Tax
(Benefit) Expense |
|
(22,932 |
) |
|
29,628 |
|
|
6,696 |
|
Net Income
(Loss) |
|
(47,037 |
) |
|
61,005 |
|
|
13,968 |
|
EPS |
|
(2.08 |
) |
|
2.69 |
|
|
0.61 |
|
EBITDA |
|
(62,603 |
) |
|
90,634 |
|
|
28,031 |
|
|
|
|
|
Infrastructure |
|
|
|
Net
Sales |
|
124,930 |
|
|
- |
|
|
124,930 |
|
GP |
|
(41,462 |
) |
|
69,792 |
|
|
28,330 |
|
GP% |
|
(33.2 |
%) |
|
|
22.7 |
% |
EBITDA |
|
(63,515 |
) |
|
71,663 |
|
|
8,148 |
|
|
|
|
|
Aggregate and Mining |
|
|
|
Net
Sales |
|
116,064 |
|
|
- |
|
|
116,064 |
|
GP |
|
30,347 |
|
|
294 |
|
|
30,641 |
|
GP% |
|
26.1 |
% |
|
|
26.4 |
% |
EBITDA |
|
13,224 |
|
|
294 |
|
|
13,518 |
|
|
|
|
|
Energy |
|
|
|
Net
Sales |
|
76,011 |
|
|
- |
|
|
76,011 |
|
GP |
|
9,375 |
|
|
7,487 |
|
|
16,862 |
|
GP% |
|
12.3 |
% |
|
|
22.2 |
% |
EBITDA |
|
(11,708 |
) |
|
18,677 |
|
|
6,969 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
FYE 2019 GAAP to Non-GAAP Reconciliation
Table |
|
|
|
|
|
As
Reported |
Restructuring and |
As
Adjusted |
Consolidated |
(GAAP) |
Unusual Charges |
(Non-GAAP) |
|
|
|
|
Net
Sales |
$ |
1,169,613 |
|
$ |
(20,000 |
) |
$ |
1,149,613 |
|
Domestic
Sales |
|
908,466 |
|
|
(20,000 |
) |
|
888,466 |
|
International Sales |
|
261,147 |
|
|
- |
|
|
261,147 |
|
GP |
|
246,454 |
|
|
6,533 |
|
|
252,987 |
|
GP% |
|
21.1 |
% |
|
|
22.0 |
% |
Op
Income |
|
23,933 |
|
|
17,906 |
|
|
41,839 |
|
Income Tax
(Benefit) Expense |
|
2,720 |
|
|
3,420 |
|
|
6,140 |
|
Net
Income |
|
21,475 |
|
|
14,487 |
|
|
35,962 |
|
EPS |
|
0.95 |
|
|
0.64 |
|
|
1.59 |
|
EBITDA |
|
50,440 |
|
|
17,906 |
|
|
68,346 |
|
Free Cash
Flow |
|
90,287 |
|
|
(7,413 |
) |
|
82,874 |
|
|
|
|
|
|
|
|
|
FYE 2018 GAAP to Non-GAAP Reconciliation
Table |
|
|
|
|
|
As
Reported |
Restructuring and |
As
Adjusted |
Consolidated |
(GAAP) |
Unusual Charges |
(Non-GAAP) |
|
|
|
|
Net
Sales |
$ |
1,171,599 |
|
$ |
74,778 |
|
$ |
1,246,377 |
|
Domestic
Sales |
|
915,814 |
|
|
74,778 |
|
|
990,592 |
|
International Sales |
|
255,785 |
|
|
- |
|
|
255,785 |
|
GP |
|
135,766 |
|
|
161,185 |
|
|
296,951 |
|
GP% |
|
11.6 |
% |
|
|
23.8 |
% |
Op Income
(Loss) |
|
(86,421 |
) |
|
174,245 |
|
|
87,824 |
|
Income Tax
(Benefit) Expense |
|
(25,234 |
) |
|
46,502 |
|
|
21,268 |
|
Net Income
(Loss) |
|
(60,449 |
) |
|
127,744 |
|
|
67,295 |
|
EPS |
|
(2.64 |
) |
|
5.58 |
|
|
2.94 |
|
EBITDA |
|
(57,897 |
) |
|
174,245 |
|
|
116,348 |
|
|
|
|
|
|
|
|
|
|
|
PDF with complete 4Q19 Earnings Presentation
available:http://ml.globenewswire.com/Resource/Download/a9b2a337-322a-4ec8-8889-319ed7b26200
Astec Industries (NASDAQ:ASTE)
과거 데이터 주식 차트
부터 6월(6) 2024 으로 7월(7) 2024
Astec Industries (NASDAQ:ASTE)
과거 데이터 주식 차트
부터 7월(7) 2023 으로 7월(7) 2024