Astec Industries designs, manufactures, and sells heavy equipment for road construction and aggregate processing — what management calls the "rock to road" sector. Astec operates two segments: Infrastructure Solutions (~71% of revenue) and Materials Solutions (~29%). Infrastructure Solutions makes asphalt and concrete plants, road paving equipment (pavers, milling machines), industrial burners, and forestry equipment. Asphalt plants are engineer-to-order products built to customer specifications, with individual units selling for roughly $8M–$10M. Materials Solutions makes crushing, screening, washing, and conveying equipment for aggregate, mining, and bulk handling applications. Astec sells plant equipment directly through its own sales force and mobile/processing equipment through an independent dealer network. Aftermarket parts are a growing revenue stream, totaling $432.7M in FY25 (~31% of net sales), and carry higher margins than equipment. Astec also offers Astec Digital, including its Signal telematics platform, which provides connected equipment data, remote diagnostics, and predictive maintenance to customers. Growing the parts business is management's top strategic priority, supported by investments in parts inventory, salesforce expansion, and digital ordering tools. Astec has recently accelerated M&A, acquiring TerraSource in July 2025 for $245M and CWMF on January 1, 2026, adding over $200M in annual revenue. End market tailwinds include ongoing Infrastructure Investment and Jobs Act disbursements and growing demand from data center construction.