ASTEMEDIUM SIGNALOPERATIONAL10-K

ASTE completed two strategic acquisitions (TerraSource and CWMF) while substantially increasing capital expenditures and total liabilities to fund growth initiatives.

The company is executing an aggressive acquisition strategy to expand its material processing equipment portfolio, evidenced by the addition of TerraSource and CWMF to complement existing crushing and screening capabilities. However, this growth comes with increased financial leverage and integration risks that investors should monitor closely.

Comparing 2026-02-25 vs 2025-02-26View on EDGAR →
FINANCIAL ANALYSIS

ASTE's financial profile reflects significant expansion activity, with total assets growing 31% to $1.4B while total liabilities increased 69% to $686M, indicating substantial debt financing for acquisitions. Capital expenditures roughly doubled to $41M, supporting the company's manufacturing site conversions and integration efforts. Revenue-related metrics showed solid organic growth with gross profit up 14% and both R&D and SG&A expenses increasing proportionally, suggesting controlled operational scaling alongside the acquisition integration.

FINANCIAL STATEMENT CHANGES
Capital Expenditure
Cash Flow
+98.5%
$20.5M→$40.7M

Capital expenditure jumped 98.5% — major investment cycle underway; assess returns on deployment.

Total Liabilities
Balance Sheet
+68.9%
$406.0M→$685.6M

Liabilities grew 68.9% — significant increase in debt or obligations, assess impact on financial flexibility.

Total Assets
Balance Sheet
+31%
$1.0B→$1.4B

Asset base grew 31% — expansion through organic growth, acquisitions, or capital deployment.

Cash & Equivalents
Balance Sheet
-20.7%
$90.8M→$72.0M

Cash decreased 20.7% — monitor burn rate and upcoming capital needs.

Current Liabilities
Balance Sheet
+20.7%
$271.7M→$328.0M

Current liabilities rose 20.7% — increased short-term obligations, watch current ratio.

Gross Profit
P&L
+14.1%
$327.9M→$374.2M

Gross profit expanding — improving pricing power or product mix shift toward higher-margin offerings.

Accounts Receivable
Balance Sheet
+13.7%
$114.8M→$130.6M

Receivables grew 13.7% — monitor days sales outstanding for collection efficiency.

R&D Expense
P&L
+13%
$23.8M→$26.9M

R&D investment increased 13% — signals commitment to future product development, though near-term margin impact.

Current Assets
Balance Sheet
+13%
$722.8M→$816.6M

Current assets grew 13% — improving short-term liquidity or inventory/receivables build.

SG&A Expense
P&L
+11.8%
$276.1M→$308.7M

SG&A increased modestly — likely reflects growth-related hiring or sales expansion investment.

LANGUAGE CHANGES
NEW — 2026-02-25
PRIOR — 2025-02-26
ADDED
As of February 20, 2026, there were 22,899,799 shares of Common Stock outstanding.
Management's Discussion and Analysis of Financial Condition and Results of Operations 24 Item 7A.
In furtherance of our Vision and strategic pillars, we completed the acquisition of TerraSource Holdings, LLC ( TerraSource ), a market-leading manufacturer of material processing equipment and related aftermarket parts serving complementary crushing, screening and separation applications on July 1, 2025 and the acquisition of CWMF, LLC, a manufacturer of portable and stationary asphalt plant equipment and parts on January 1, 2026.
and Canadian locations and converted the operations of three manufacturing sites along with Corporate.
The Company's presentation of Segment Operating Adjusted EBITDA is not necessarily indicative of the results of operations that would have occurred had each reportable segment been an independent, stand-alone entity during the periods presented.
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REMOVED
As of February 21, 2025, there were 22,803,976 shares of Common Stock outstanding.
Management's Discussion and Analysis of Financial Condition and Results of Operations 23 Item 7A.
Form 10-K Summary 81 SIGNATURES 82 Table of Content s GENERAL Unless otherwise indicated by the context, all references in this Annual Report on Form 10-K to "we," "us," "our," or the "Company" refer to Astec Industries, Inc.
Developing the Astec Digital Ecosystem to enable customers to leverage our entire product portfolio and associated data.
During 2024, we modified the pace of deployment of future site conversions to improve efficiencies and reduce business disruptions at our manufacturing sites, which will reduce the scope of the program to exclude sites outside North America.
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