Astec Industries, Inc. (NASDAQ:ASTE) Q4 2022 Earnings Conference Call March 1, 2023 8:30 AM ET

Company Participants

Stephen Anderson – Senior Vice President of Administration and Investor Relations

Jaco van der Merwe – Chief Executive Officer

Becky Weyenberg – Chief Financial Officer

Conference Call Participants

Joe Grabowski – Baird

Stanley Elliott – Stifel

Steve Ferazani – Sidoti

Larry De Maria – William Blair

Operator

Hello, and welcome to the Astec Industries Fourth Quarter Earnings Call. As a reminder, this conference is being recorded.

It is my pleasure to introduce your host, Stephen Anderson, Senior Vice President of Administration and Investor Relations. Mr. Anderson, you may begin.

Stephen Anderson

Thank you, and welcome to the Astec fourth quarter 2022 earnings conference call. Joining me on today’s call are Jaco van der Merwe, Chief Executive Officer; and Becky Weyenberg, Chief Financial Officer. In just a moment, I’ll turn the call over to Jaco to provide comments, and then Becky will summarize our financial results.

Before we begin, I’ll remind you that our discussion this morning may contain forward-looking statements that relate to the future performance of the company, and these statements are intended to qualify for the Safe Harbor liability established by the Private Securities Litigation Reform Act.

Any such statements are not guarantees of future performance and are subject to certain risks, uncertainties and assumptions. Factors that can influence our results are highlighted in today’s financial news release and others are contained in our filings with the SEC. As usual, we ask that you familiarize yourself with those factors.

In an effort to provide investors with additional information regarding the company’s results, the company refers to various U.S. GAAP, which are generally accepted accounting principles, and non-GAAP financial measures, which management believes provide useful information to investors.

These non-GAAP financial measures have no standardized meaning prescribed by U.S. GAAP and therefore, are unlikely to be comparable to the calculation of similar measures for other companies. Management of the company does not intend these items to be considered in isolation or as a substitute for the related GAAP measures.

Management of the company uses both GAAP and non-GAAP financial measures to establish internal budgets and targets and to evaluate the company’s financial performance against such budgets and targets.

You should also note a reconciliation of GAAP to non-GAAP results is included in our news release and in the appendix of our slide deck. All related earnings materials are posted on our website at www.astecindustries.com, including our presentation, which is under the Investor Relations and Presentation tabs.