Strong Q1 Financial Performance
Adjusted EBITDA of $35.2 million, an increase of $16.3 million or 86.2% over the first quarter of 2024. Adjusted EBITDA margin increased by 460 basis points to 10.7%. Adjusted earnings per share was $0.88, compared to $0.34 in Q1 2024.
Record Free Cash Flow
Free cash flow of $16.6 million, representing 116% of net income, driven by increased profitability and working capital management.
Acquisition of TerraSource
Astec announced a definitive agreement to acquire TerraSource for $245 million, expected to enhance the Materials Solutions segment and provide EBITDA margin expansion.
Infrastructure Segment Success
Infrastructure Solutions segment experienced strong net sales driven by domestic capital equipment performance, with EBITDA margins positively affected by volume, pricing, and operational excellence initiatives.
Improved Implied Orders
Consolidated implied orders rose on a quarter-over-quarter and sequential basis, with the Infrastructure Solutions segment generating solid numbers and Materials Solutions segment posting an increase for the second consecutive quarter.