Astec Industries, Inc. (ASTE) Q1 2023 Earnings Call Transcript

Astec Industries, Inc. (NASDAQ:ASTE) Q1 2023 Earnings Conference Call May 3, 2023 8:30 AM ET

Company Participants

Steve Anderson - SVP of Administration and IR
Jaco van der Merwe - CEO
Becky Weyenberg - CFO

Conference Call Participants

Mig Dobre - Baird
Steve Ferazani - Sidoti
Brian Sponheimer - Gabelli Funds
Larry De Maria - William Blair

Operator

Hello, and welcome to the 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 thank you, everyone, for being on our first quarter 2023 earnings call. Joining me on today's call are Jaco van der Merwe, Chief Executive Officer and Becky Weyenberg, our Chief Financial Officer. In just a moment, I'll turn the call over to Jaco to provide comments, and then Becky 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 financial news release and others are contained in our SEC filings. As usual, we ask that you familiarize yourself with those factors.

In an effort to provide investors with additional information regarding the company's results, the company refers to various U.S. GAAP, which are Generally Accepted Accounting Principles, and non-GAAP financial measures, which management believes provides useful information to investors. These non-GAAP financial measures have no standardized meaning prescribed by U.S. GAAP and therefore, are unlikely