Astec Industries Cuts 2026 Adjusted EBITDA Guidance to $140 Million to $150 Million

Astec Industries (Nasdaq: ASTE) cut its full-year 2026 Adjusted EBITDA guidance to $140 million to $150 million from $160 million to $175 million, and reported a third-quarter net loss, the company said in an 8-K filed Thursday, Nov. 5, 2026.

The filing attaches a press release with results for the three months ended Sept. 30. Net sales were $352.4 million, up 0.7% from $350.1 million a year earlier. The net loss attributable to the controlling interest was $12.2 million, or $(0.53) a diluted share, compared with a loss of $4.2 million, or $(0.18), in the third quarter of 2025. The loss widened. On an adjusted basis, the company reported a net loss of $0.3 million, or $(0.01) a share, against adjusted net income of $10.8 million, or $0.47 a share, a year earlier.

Guidance reset and margins

The company now expects Adjusted EBITDA of $140 million to $150 million for 2026. Third-quarter Adjusted EBITDA was $18.9 million, down 30.3% from $27.1 million, and the adjusted EBITDA margin fell to 5.4% from 7.7%. For the first nine months, Adjusted EBITDA was $91.8 million, against $96.1 million a year earlier.

Chief Financial Officer Brian Harris said the company's Adjusted EBITDA to net debt ratio was 2.3 times, within its target range of 1.5 times to 2.5 times. Before the filing, the company's market value was about $904.9 million, based on a $39.30 close on Nov. 4 and about 23.0 million shares outstanding as of July 31.

Chief Executive Jaco van der Merwe said third-quarter results were "less than expected" because "ongoing macroeconomic uncertainty caused a pause in orders earlier in the year by select asphalt plant customers." He also cited inflationary headwinds and the delayed renewal of the U.S. federal highway bill.

Backlog and segments

Total backlog was $670.5 million, up 49.2% from $449.5 million. Infrastructure Solutions, which makes asphalt and concrete plants, reported net sales of $189.0 million, down 2.2%, and a backlog of $381.5 million, up 47.0%. Its segment adjusted EBITDA was $15.3 million, down 36.0%, which the company attributed mainly to inflation on materials, labor and overhead.

Materials Solutions, which makes rock and aggregate processing equipment, reported net sales of $163.4 million, up 4.1%, and a backlog of $289.0 million, up 52.1%. Its implied orders fell 45.3% from the prior quarter to $139.9 million, and its book-to-bill ratio was 86%. Segment adjusted EBITDA was $13.9 million, down 9.7%.

Cash and next steps

Total liquidity was $267.2 million at quarter end, made up of $63.2 million in cash available for operations and $204.0 million available under its revolving credit facility. For the nine months, operating cash flow was $70.2 million and free cash flow was $48.0 million. In the quarter, the company spent $6.7 million on capital expenditures and paid a dividend of $0.13 a share.

Management will hold a conference call and webcast at 9:00 a.m. Eastern Time on Nov. 5 to discuss the results. The company said a transcript will be posted within five business days. The release does not break out how much of the guidance reduction comes from each segment.