Astec Industries (ASTE) FY2018 results: revenue $1.2 billion, down 1.1% on the year
Astec Industries Inc. (ASTE) reported revenue of $1.2 billion for fiscal 2018, the year ended 31 December 2018, down 1.1% on the year before. Net income was -$60 million, and diluted earnings per share $-2.64. The figures are the company's own, from the 10-K it filed with the SEC on 18 March 2019.
Revenue
$1.2 billion
-1.1% on the year
FY2011FY2018
Operating margin
-7.4%
4.7% a year earlier
FY2011FY2018
Net income
-$60 million
FY2011FY2018
Diluted EPS
-$2.64
FY2011FY2018
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2018
FY2017
FY2016
On the year
Last 8 years
Revenue
1,172
1,185
1,147
-1.1%
Cost of revenue
1,036
942
882
+10.0%
Gross profit
136
243
265
-44.2%
Gross margin
11.6%
20.5%
23.1%
Research and development
28.3
26.8
25.0
+5.6%
Selling, general and administrative
181
161
n/a
+12.5%
Operating income
-86.4
55.5
87.2
Operating margin
-7.4%
4.7%
7.6%
Interest expense
1.0
0.8
1.4
+19.0%
Pre-tax income
-86.0
57.2
87.1
Income tax
-25.2
19.6
32.1
Effective tax rate
n/a
34.3%
36.9%
Net income
-60.4
37.8
55.2
Net margin
-5.2%
3.2%
4.8%
Diluted EPS
-$2.64
$1.63
$2.38
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2018
FY2017
FY2016
On the year
Last 8 years
Operating cash flow
-30.0
41.9
135
Capital expenditure
27.4
20.0
27.4
+36.9%
Free cash flow
-57.4
21.8
107
Free cash flow margin
-4.9%
1.8%
9.4%
Cash from investing
-27.4
-46.9
-66.2
Cash from financing
22.8
-16.8
-11.0
Depreciation and amortisation
27.9
25.8
24.8
+8.2%
Share-based compensation
2.2
3.1
2.9
-30.0%
Buybacks
24.1
0.0
0.0
Dividends paid
9.6
9.2
9.2
+4.1%
Dividend per share
$0.42
$0.40
$0.40
+5.0%
Diluted shares, weighted
23m
23m
23m
-1.2%
Shares outstanding at period end
23m
23m
23m
-2.4%
Balance sheet
$ million
FY2018
FY2017
FY2016
On the year
Last 8 years
Shareholders' equity
585
686
648
-14.7%
Non-controlling interest
0.7
1.1
1.0
-35.0%
Short-term borrowings
0.0
0.0
n/a
Debt
60.1
4.0
11.3
+1,386.7%
Other liabilities
210
199
183
+5.7%
Total liabilities and equity
855
890
844
-3.8%
Fixed assets
192
190
181
+1.1%
Goodwill
32.7
45.7
40.8
-28.4%
Intangible assets
25.4
31.0
26.6
-18.0%
Investments
16.8
16.2
15.0
+4.1%
Trading assets
16.8
16.2
15.0
+4.1%
Cash and equivalents
25.8
62.3
82.4
-58.5%
Receivables
131
115
107
+13.7%
Inventory
356
391
360
-9.1%
Other assets
58.9
21.7
16.2
+171.4%
Total assets
855
890
844
-3.8%
10-K for the year ended 31 December 2018, filed 18 March 2019: the filing.