8-K

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): October 21, 2014

ASTEC INDUSTRIES, INC. (Exact Name of Registrant as Specified in Charter)
	Tennessee	001-11595	62-0873631
	(State or Other Jurisdiction of Incorporation)	(Commission File Number)	(IRS Employer Identification No.)
1725 Shepherd Road Chattanooga, Tennessee 37421 (Address of Principal Executive Offices and Zip Code)
(423) 899-5898 (Registrant's telephone number, including area code)
N/A (Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

[ ] Written communication pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

[ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

[ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-d(b))

[ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Item 2.02. Results of Operations and Financial Condition.

The information, including the exhibits attached hereto, in this Current Report on Form 8-K is being "furnished" and shall not be deemed "filed" for the purposes of Section 18 of the Securities and Exchange Act of 1934, as amended, or otherwise subject to the liabilities of that Section. The information in this Current Report shall not be incorporated by reference into any registration statement or other document filed by the Company pursuant to the Securities Act of 1933, as amended, or into any other filing or document made by the Company pursuant to the Securities Exchange Act of 1934, as amended, except as otherwise expressly stated in any such filing.

Attached and incorporated herein by reference as Exhibit 99.1 is a copy of the press release of Astec Industries, Inc., dated October 21, 2014, reporting the Company's financial results for the three and nine-month periods ended September 30, 2014.

Item 9.01. Financial Statements and Exhibits.

(c) Exhibits. The following exhibits are furnished herewith:
Exhibit No.	Exhibit Description
99.1	Press Release, dated October 21, 2014

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

ASTEC INDUSTRIES, INC.

Date: October 21, 2014 By: /s/ David C. Silvious                                                David C. Silvious, Chief Financial Officer, Vice President and Treasurer (Principal Financial and Accounting Officer)

Index to Exhibits
Exhibit No.	Exhibit Description
99.1	Press Release, dated October 21, 2014

EX-99.1

Exhibit 99-1

Astec Industries, Inc.

News Release

1725 Shepherd Road - Chattanooga, TN 37421 - Phone (423)899-5898 - Fax (423) 899-4456

ASTEC INDUSTRIES REPORTS THIRD QUARTER 2014 RESULTS

CHATTANOOGA, Tenn. (October 21, 2014) - Astec Industries, Inc. (Nasdaq: ASTE) today reported results for their third quarter ended September 30, 2014. Net sales for the third quarter of 2014 were $220.2 million compared to $213.2million for the third quarter of 2013, a 3% increase. Earnings for the third quarter of 2014 were $1.9 million or $0.08 per diluted share compared to $6.5 million or $0.28 per diluted share in the third quarter of 2013, a decrease of 71%.

Domestic sales increased 8% to $142.6 million for the third quarter of 2014 compared to $132.4 million for the third quarter of 2013. International sales decreased 4% to $77.6 million for the third quarter of 2014 compared to $80.8 million for the third quarter of 2013.

Net sales for the first nine months of 2014 were $736.1 million compared to $709.1million for the first nine months of 2013, a 4% increase. Earnings for the first nine months of 2014 were $26.0 million or $1.12 per diluted share compared to $30.8 million or $1.33 per diluted share in the first nine months of 2013, a 16% decrease.

Domestic sales increased 10% to $502.7 million for the first nine months of 2014 compared to $456.6 million for the first nine months of 2013. International sales were $233.4 million for the first nine months of 2014 compared to $252.5 million for the first nine months of 2013, an 8% decrease.

The Company's gross profit for the third quarter of 2014 was $43.3 million or 19.7% compared to $45.8 million or 21.5% for the third quarter of 2013, a decrease of $2.5 million or 180 basis points. The decrease in gross profit is attributable to the Infrastructure Group with the Aggregate and Mining Group and the Energy Group meeting or exceeding third quarter of 2013 gross profit levels. The Infrastructure Group's gross profit was negatively impacted by a reduction in sales volume combined with pricing pressures in the infrastructure market.

The Company's effective income tax rate increased from 34.6% for the third quarter of 2013 to 64.0% for the third quarter of 2014. The effective tax rate for the first nine months of 2014 was 37.9% compared to 33.4% for the first nine months of 2013. This increase was due to net operating losses in certain foreign jurisdictions that could not be utilized to offset taxable income in the United States, adjustments to the Company's tax reserves and the continued delay in passage of a research and development credit in 2014.

The Company's domestic backlog increased 42%, from $132.9 million at September 30, 2013 to $189.3 million at September 30, 2014. The international backlog at September 30, 2014 was $105.7 million compared to $98.1 million at September 30, 2013 for an increase of 8%. Total backlog increased 28% to $295.0 million at September 30, 2014 from $231.0 million at September 30, 2013.

Consolidated financial information for the quarter and nine months ended September 30, 2014 and additional information related to segment revenues and profits are attached as addenda to this press release.

Commenting on the announcement of quarterly results, Benjamin G. Brock, President and Chief Executive Officer, stated, "We are disappointed in our net income for the third quarter. Our Energy and our Aggregate and Mining Groups performed okay while our Infrastructure Group lagged due primarily to the lack of a federal highway bill, pricing pressure as a result, and product mix. As we've previously reported, we are still unable to recognize the revenue associated with our new $60 million pellet plant. This lack of recognition continues to hamper the Infrastructure Group's 2014 operating results. A 64% tax rate for the quarter was another challenge to our earnings in the quarter."

Mr. Brock continued, "Despite our third quarter results, we are encouraged about our overall business prospects for the remainder of the year and 2015. Our backlog is up 28% versus last year with increases in both domestic and international markets. Also, our higher margin parts sales have recovered and are ahead of last year's pace. These developments, along with our focus on lean initiatives, lead us to feel optimistic about both sales growth and margin improvement."

Investor Conference Call and Web Simulcast

Astec will conduct a conference call on October 21, 2014, at 10:00 A.M. Eastern Time to review its September 30, 2014 results as well as current business conditions. The number to call for this interactive teleconference is (877) 407-9210. International callers should dial (201) 689-8049. Please reference Astec Industries.

The company will also provide an online Web simulcast and rebroadcast of the conference call. The live broadcast of Astec's conference call will be available online at the Company's website: www.astecindustries.com/conferencecalls. An archived webcast will be available for 90 days at www.astecindustries.com.

A replay of the conference call will be available through midnight on Tuesday, November 4, 2014 by dialing (877) 660-6853, or (201) 612-7415 for international callers, Account #286, Conference ID# 13593054. A transcription of the conference call will be made available under the Investor Relations section of the Astec Industries, Inc. website within 5 business days after the call.

Astec Industries, Inc. is a manufacturer of specialized equipment for asphalt road building; aggregate processing; oil, gas and water well drilling; and wood processing. Astec's manufacturing operations are divided into three primary business segments: road building and related equipment (Infrastructure Group); aggregate processing and mining equipment (Aggregate and Mining Group); and equipment for the extraction and production of fuels, biomass production, and water drilling equipment (Energy Group).

The information contained in this press release contains "forward-looking statements" (within the meaning of the Private Securities Litigation Reform Act of 1995) regarding the future performance of the Company, including statements about the effects on the Company from its backlog, anticipated tax rates/credits, equipment and parts sales, federal infrastructure spending and pricing pressures. These forward-looking statements reflect management's expectations and are based upon currently available information, and the Company undertakes no obligation to update or revise such statements. These statements are not guarantees of performance and are inherently subject to risks and uncertainties, many of which cannot be predicted or anticipated. Future events and actual results, financial or otherwise, could differ materially from those expressed in or implied by the forward-looking statements. Important factors that could cause future events or actual results to differ materially include: general uncertainty in the economy, rising oil and liquid asphalt prices, rising steel prices, the effect of any future federal stimulus package, decreased funding for highway projects, the relative strength/weakness of the dollar to foreign currencies, production capacity, general business conditions in the industry, demand for the Company's products, seasonality and cyclicality in operating results, seasonality of sales volumes or lower than expected sales volumes, lower than expected margins on custom equipment orders, competitive activity, tax rates and the impact of future legislation thereon, and those other factors listed from time to time in the Company's reports filed with the Securities and Exchange Commission, including but not limited to the Company's annual report on Form 10-K for the year ended December 31, 2013.

For Additional Information Contact:Benjamin G. BrockPresident & Chief Executive OfficerPhone: (423) 867-4210Fax: (423) 867-4127E-mail: bbrock@astecindustries.com or

David C. Silvious Vice President and Chief Financial Officer

Phone: (423) 899-5898

Fax: (423) 899-4456 E-mail: dsilvious@astecindustries.com

or

Stephen C. Anderson

Vice President, Director of Investor Relations & Corporate Secretary

Phone: (423) 899-5898

Fax: (423) 899-4456

E-mail: sanderson@astecindustries.com

Astec Industries, Inc.
Consolidated Balance Sheets
(in thousands)
(unaudited)
	Sept 30		Sept 30
	2014		2013
Assets
Current assets
Cash and cash equivalents	$	13,820	$	46,342
Investments		1,903		16,342
Receivables, net		108,844		97,347
Inventories		370,436		339,826
Prepaid expenses and other		36,629		21,701
Total current assets		531,632		521,558
Property and equipment, net		190,395		186,546
Other assets		66,554		41,959
Total assets	$	788,581	$	750,063
Liabilities and equity
Current liabilities
Accounts payable - trade	$	53,034	$	48,492
Other current liabilities		97,059		95,083
Total current liabilities		150,093		143,575
Non-current liabilities		40,139		32,903
Total equity		598,349		573,585
Total liabilities and equity	$	788,581	$	750,063

Astec Industries, Inc.
Consolidated Statements of Income
(in thousands, except per share data)
(unaudited)
	Three Months Ended Sept 30				Nine Months Ended Sept 30
	2014		2013		2014		2013
Net sales	$	220,157	$	213,177	$	736,086	$	709,136
Cost of sales		176,896		167,390		573,890		549,341
Gross profit		43,261		45,787		162,196		159,795
Selling, general, administrative & engineering expenses		38,867		36,635		122,539		114,797
Income from operations		4,394		9,152		39,657		44,998
Interest expense		193		269		375		417
Other		860		1,087		2,410		1,731
Income before income taxes		5,061		9,970		41,692		46,312
Income taxes		3,145		3,456		15,734		15,536
Net income attributable to controlling interest	$	1,916	$	6,514	$	25,958	$	30,776
Earnings per Common Share
Net income attributable to controlling interest
Basic	$	0.08	$	0.29	$	1.14	$	1.35
Diluted	$	0.08	$	0.28	$	1.12	$	1.33
Weighted average common shares outstanding
Basic		22,830		22,756		22,813		22,744
Diluted		23,109		23,082		23,103		23,077

Astec Industries, Inc.
Segment Revenues and Profits
For the three months ended September 30, 2014 and 2013
(in thousands)
(unaudited)
	Infrastructure Group			Aggregate and Mining Group			Energy Group			Corporate			Total
2014 Revenues		78,698			88,177			53,282			-			220,157
2013 Revenues		83,319			79,792			50,066			-			213,177
Change $		(4,621	)		8,385			3,216			-			6,980
Change %		(5.5	%)		10.5	%		6.4	%		-			3.3	%
2014 Gross Profit		11,367			21,604			10,277			13			43,261
2014 Gross Profit %		14.4	%		24.5	%		19.3	%		-			19.7	%
2013 Gross Profit		18,552			19,584			7,667			(16	)		45,787
2013 Gross Profit %		22.3	%		24.5	%		15.3	%		-			21.5	%
Change		(7,185	)		2,020			2,610			29			(2,526	)
2014 Profit (Loss)		520			6,806			2,789			(7,137	)		2,978
2013 Profit (Loss)		5,919			6,765			456			(5,935	)		7,205
Change $		(5,399	)		41			2,333			(1,202	)		(4,227	)
Change %		(91.2	%)		0.6	%		511.6	%		(20.3	%)		(58.7	%)

Segment revenues are reported net of intersegment revenues. Segment gross profit is net of profit on intersegment

revenues. A reconciliation of total segment profits to the Company's net income attributable to controlling interest is as follows (in thousands):

	Three months ended September 30
	2014			2013			Change $
Total profit for all segments	$	2,978		$	7,205		$	(4,227	)
Elimination of intersegment profit		(1,212	)		(678	)		(534	)
Net (income) loss attributable to non-controlling interest		150			(13	)		163
Net income attributable to controlling interest	$	1,916		$	6,514		$	(4,598	)

Astec Industries, Inc.

Segment Revenues and Profits

For the nine months ended September 30, 2014 and 2013

(in thousands)

(unaudited)

	Infrastructure Group			Aggregate and Mining Group			Energy Group			Corporate			Total
2014 Revenues		296,074			287,976			152,036			-			736,086
2013 Revenues		296,393			270,438			142,305			-			709,136
Change $		(319	)		17,538			9,731			-			26,950
Change %		(0.1	%)		6.5	%		6.8	%		-			3.8	%
2014 Gross Profit		59,135			70,722			32,309			30			162,196
2014 Gross Profit %		20.0	%		24.6	%		21.3	%		-			22.0	%
2013 Gross Profit		64,752			68,239			26,821			(17	)		159,795
2013 Gross Profit %		21.8	%		25.2	%		18.8	%		-			22.5	%
Change		(5,617	)		2,483			5,488			47			2,401
2014 Profit (Loss)		21,124			27,065			7,659			(27,578	)		28,270
2013 Profit (Loss)		24,900			26,963			3,882			(23,387	)		32,358
Change $		(3,776	)		102			3,777			(4,191	)		(4,088	)
Change %		(15.2	%)		0.4	%		97.3	%		(17.9	%)		(12.6	%)

Segment revenues are reported net of intersegment revenues. Segment gross profit is net of profit on intersegment

revenues. A reconciliation of total segment profits to the Company's net income attributable to controlling interest is as follows (in thousands):

	Nine months ended September 30
	2014			2013			Change $
Total profit for all segments	$	28,270		$	32,358		$	(4,088	)
Elimination of intersegment profit		(2,468	)		(1,428	)		(1,040	)
Net (income) loss attributable to non-controlling interest		156			(154	)		310
Net income attributable to controlling interest	$	25,958		$	30,776		$	(4,818	)

Astec Industries, Inc.
Backlog by Segment
September 30, 2014 and 2013
(in thousands)
(Unaudited)
	Infrastructure Group			Aggregate and Mining Group			Energy Group			Total
2014 Backlog		135,895			80,978			78,156			295,029
2013 Backlog		114,137			72,000			44,815			230,952
Change $		21,758			8,978			33,341			64,077
Change %		19.1	%		12.5	%		74.4	%		27.7	%