Astec Industries, Inc. (NASDAQ:ASTE) Q1 2024 Earnings Conference Call May 1, 2024 8:30 AM ET

Company Participants

Steve Anderson - Senior VP of Administration and IR
Jaco van der Merwe - CEO
Heinrich Jonker - Interim CFO

Conference Call Participants

Stanley Elliott - Stifel
Mig Dobre - Baird
Stephen Ferazani - Sidoti
Brian Sponheimer - Gabelli Funds

Operator

Hello, and welcome to Astec Industries First Quarter Earnings Call. As a reminder, this conference call is being recorded. It is my pleasure to introduce your host, Steve Anderson, Senior Vice President of Administration and Investor Relations. Mr. Anderson, you may begin.

Steve Anderson

Thank you, and good morning, everyone. Joining me on today's call are our President and Chief Executive Officer, Jaco van der Merwe; and our Interim Chief Financial Officer, Heinrich Jonker. In just a moment, I'll turn the call over to Jaco to provide comments, and then Heinrich 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 could influence our results are highlighted in today's earnings 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 results, we refer to various 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 are, therefore, 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 U.S. GAAP measures. A reconciliation of U.S. GAAP to non-GAAP results is included in our earnings release and 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 Presentations tabs. So now I'll turn the call over to Jaco.

Jaco van der Merwe

Thank you, Steve. Before I start with our review of the quarter, I'd like to take a moment to welcome Heinrich as our interim CFO. Since joining Astec in 2021, he has been an integral leader on our financial team, most recently serving as the VP of Finance for our Infrastructure Solutions segment. Heinrich has approximately 20 years of public company experience, deep financial acumen and he knows our business well. All of this has helped make for a seamless transition to interim CFO, although I am certainly underplaying the hard work and long hours he and the team have put in since he stepped into the role. Heinrich, thanks for your commitment to Astec and for joining me on today's call.