Company: ASTE
Filing Date: 2025-04-29
Form Type: 10-Q
Source: 0000792987-25-000029
Chunk: 83

Company: ASTEC INDUSTRIES INC
Filing Date: 2025-04-29
Form: 10-Q
Item: Part I, Item 2
Chunk 83
---
, (iii) freight revenue of $1.1 million and (iv) service and equipment installation revenue of $1.0 million. These increases were partially offset by a decrease in parts and component sales of $1.8 million.

International sales for the first quarter of 2025 were $55.6 million, or 16.9% of consolidated net sales, compared to $66.0 million, or 21.3% of consolidated net sales, for the first quarter of 2024, a decrease of $10.4 million, or 15.8%. International sales decreased primarily due to decreases in equipment and parts and component sales of $8.0 million and $2.7 million, respectively.

Gross Profit

Gross profit for the first quarter of 2025 was $92.4 million, or 28.1% of net sales, as compared to $76.9 million, or 24.9% of net sales, for the first quarter of 2024, an increase of $15.5 million or 20.2%. The increase in gross profit was primarily driven by the impact of net favorable pricing coupled with favorable volume and mix which generated $16.0 million higher gross profit and manufacturing efficiencies of $3.7 million. These increases were partially offset by higher warranty program costs of $2.0 million and net unfavorable inventory adjustments of $1.5 million.

Selling, General and Administrative Expenses

Selling, general and administrative expenses were $71.9 million, or 21.8% of net sales, for the first quarter of 2025, compared to $71.4 million, or 23.1% of net sales, for the first quarter of 2024, an increase of $0.5 million, or 0.7%, primarily due to (i) increased personnel-related costs of $2.4 million, largely driven by $1.2 million of employee incentive compensation costs, (ii) increased technology support costs of $1.0 million and (iii) increased acquisition and integration costs of $0.8 million. These increases were partially offset by lower professional services of $0.9 million. 

19

Restructuring Charges and Other Asset Gains, net

Restructuring charges and the gain on sale of property and equipment, net for the three-month periods ended March 31, 2025 and 2024 are presented below:

Three Months Ended March 31,(in millions)202