Astec Industries (ASTE) FY2019 results: revenue $1.2 billion, down 0.2% on the year
Astec Industries Inc. (ASTE) reported revenue of $1.2 billion for fiscal 2019, the year ended 31 December 2019, down 0.2% on the year before. Net income was $22 million, and diluted earnings per share $0.98. The figures are the company's own, from the 10-K it filed with the SEC on 17 March 2020.
Revenue
$1.2 billion
-0.2% on the year
FY2012FY2019
Operating margin
2.1%
-7.4% a year earlier
FY2012FY2019
Net income
$22 million
FY2012FY2019
Diluted EPS
$0.98
FY2012FY2019
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Revenue
1,170
1,172
1,185
-0.2%
Cost of revenue
930
1,036
942
-10.2%
Gross profit
239
136
243
+76.3%
Gross margin
20.5%
11.6%
20.5%
Research and development
27.2
28.3
26.8
-3.9%
Selling, general and administrative
184
181
161
+1.7%
Operating income
25.1
-86.4
55.5
Operating margin
2.1%
-7.4%
4.7%
Interest expense
1.4
1.0
0.8
+40.0%
Pre-tax income
25.2
-86.0
57.2
Income tax
3.0
-25.2
19.6
Effective tax rate
11.9%
n/a
34.3%
Net income
22.3
-60.4
37.8
Net margin
1.9%
-5.2%
3.2%
Diluted EPS
$0.98
-$2.64
$1.63
$ 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
FY2019
FY2018
FY2017
On the year
Last 8 years
Operating cash flow
112
-30.0
41.9
Capital expenditure
23.4
27.4
20.0
-14.9%
Free cash flow
89.1
-57.4
21.8
Free cash flow margin
7.6%
-4.9%
1.8%
Cash from investing
-21.6
-27.4
-46.9
Cash from financing
-68.1
22.8
-16.8
Depreciation and amortisation
26.2
27.9
25.8
-6.1%
Share-based compensation
2.6
2.2
3.1
+18.2%
Buybacks
0.0
24.1
0.0
Dividends paid
10.0
9.6
9.2
+4.2%
Dividend per share
$0.44
$0.42
$0.40
+4.8%
Diluted shares, weighted
23m
23m
23m
-1.0%
Shares outstanding at period end
23m
23m
23m
+0.2%
Balance sheet
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Shareholders' equity
602
585
686
+3.0%
Non-controlling interest
0.5
0.7
1.1
-29.6%
Short-term borrowings
n/a
0.0
0.0
Debt
2.0
60.1
4.0
-96.7%
Operating lease liabilities
2.0
n/a
n/a
Other liabilities
194
210
199
-7.6%
Total liabilities and equity
800
855
890
-6.4%
Fixed assets
190
192
190
-1.1%
Goodwill
33.1
32.7
45.7
+1.1%
Intangible assets
23.5
25.4
31.0
-7.2%
Investments
17.6
16.8
16.2
+4.6%
Trading assets
17.6
16.8
16.2
+4.5%
Cash and equivalents
48.9
25.8
62.3
+89.2%
Receivables
120
131
115
-7.9%
Inventory
295
356
391
-17.3%
Other assets
54.6
58.9
21.7
-7.2%
Total assets
800
855
890
-6.4%
10-K for the year ended 31 December 2019, filed 17 March 2020: the filing.