Astec Industries Hosts Inaugural Virtual Investor Day

• Outlines Strategy to Drive Profitable Growth through its Simplify, Focus and Grow Pillars
  
• Introduces the OneASTEC Business Model, Fueling Strong Future Operational and Financial Performance

CHATTANOOGA, Tenn., Dec. 10, 2020 (GLOBE NEWSWIRE) -- Astec Industries, Inc. (NASDAQ: ASTE) will hold its 2020 Investor Day virtually today with presentations by President and Chief Executive Officer Barry Ruffalo, Chief Financial Officer Becky Weyenberg, and other members of Astec’s executive leadership team. During today’s session, management will provide an in-depth review of the Company’s strategic direction and capital allocation framework, as well as a deep dive into its Materials Solutions and Infrastructure Solutions segments. Additionally, the Company will reiterate its long-term financial goals that reflect its confidence in its ability to execute on strategic priorities to grow the business.

“We are thrilled to host Astec’s inaugural virtual investor day to provide the investment community with a deeper understanding of and appreciation for our Company and the major transformation new leadership has been driving over the past year,” said Barry Ruffalo, President and Chief Executive Officer. “We have significantly enhanced and simplified our portfolio as we continue to execute our profitable growth strategy of Simplify, Focus and Grow, and with the OneASTEC Business Model as the framework to drive operational and financial performance, our profitability has improved despite the pandemic,” added Ruffalo.

Long-term Financial Goals

• Revenue Growth of 5% - 10%
• EBITDA Margin of > 12%
• EPS Growth of > 10%
• FCF Conversion of > 100% of Net Income¹
• ROIC of > 14%
  

_{¹ Calculated by dividing LTM Adjusted FCF by Adjusted Net Income.}

Webcast of Presentations

The presentation will be available via webcast from 9:00 AM to 12:00 PM Eastern Time and can be obtained at: https://www.webcaster4.com/Webcast/Page/2146/37688

About Astec Industries, Inc.
Astec (www.astecindustries.com) is a manufacturer of specialized equipment for asphalt road building, aggregate processing and concrete production. Astec’s manufacturing operations are divided into two primary business segments: Infrastructure Solutions that includes road building, asphalt and concrete plant, thermal and storage solutions; and Materials Solutions that include our aggregate processing and mining equipment.