Company: ASTE
Filing Date: 2025-08-06
Form Type: 10-Q
Source: 0000792987-25-000047
Chunk: 35

Company: ASTEC INDUSTRIES INC
Filing Date: 2025-08-06
Form: 10-Q
Item: Part I, Item 1
Chunk 35
---
 compared to (2.2)% for the second quarter of 2024. The income tax expense for the three months ended June 30, 2025 was higher compared to the same period in 2024 primarily due to 

24

higher pretax book income and changes in the relative weighting of jurisdictional income and loss, partially offset by a net nondeductible goodwill impairment incurred in 2024.

Our income tax expense for the first six months of 2025 was $11.2 million compared to $1.7 million for the first six months of 2024. Our effective tax rate was 26.5% for the first six months of 2025 compared to (18.9)% for the first six months of 2024. The income tax expense for the six months ended June 30, 2025 was higher compared to the same period in 2024 primarily due to higher pretax book income and changes in the relative weighting of jurisdictional income and loss, partially offset by a net nondeductible goodwill impairment incurred in 2024.

Backlog

June 30,(in millions, except percentage data)20252024$ Change% ChangeInfrastructure Solutions$256.1 $368.6 $(112.5)(30.5)%Materials Solutions124.7 162.5 (37.8)(23.3)%Domestic Backlog308.1 417.2 (109.1)(26.2)%International Backlog72.7 113.9 (41.2)(36.2)%

The backlog of orders as of June 30, 2025 was $380.8 million compared to $531.1 million as of June 30, 2024, a decrease of $150.3 million, or 28.3%.

Our shorter production lead times and parts fill rates have allowed for customers to place orders closer to the desired delivery date. Additionally, we have experienced variability in the ordering patterns from our customers as a result of macroeconomic factors.

Segment Net Sales – Three Months Ended:

Three Months Ended June 30,$ Change% Change(in millions, except percentage data)20252024Infrastructure Solutions$204.6 $221.4 $(16.8)(7.6)%Materials Solutions125.7 124.1 1.6 1.3 %

Infrastructure Solutions

Sales in this segment were $204.6 million for the second quarter of 2025 compared to $221.4