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India Today
a day ago
- Science
- India Today
Test pilot, combat leader, astronaut: The fearless flight path of Shubhanshu Shukla
The year was 2006, a young cadet was about to step out of the haloed halls of the Air Force Academy (AFA) to sortie his way into the skies, but without any idea that one day his bold manoeuvring capabilities, the aptitude to cope with any cockpit he gets thrown into, and the skills to make split-second decisions will take him beyond the Indian Air Force pilot is about to soar into the heavens as an astronaut. Gp Capt Shubhanshu Shukla is ready for his boldest sortie. He will launch to the International Space Station (ISS), piloting the Dragon spacecraft, on June 10, before becoming an astronaut, he is a fighter pilot par excellence and a test pilot who pushed never-before-flown aircraft to their limits, exposed their vulnerabilities, shredded their weaknesses and strengthened the Indian skies. Shubhanshu Shukla was given the astronaut wings by PM Narendra Modi. We look at how his past life as a fighter test pilot prepared him to be India's first astronaut headed to the Space Station. BECOMING A TEST PILOTadvertisementBecoming a test pilot in the Indian Air Force (IAF) is one of the most elite and demanding roles available to military selection process is rigorous and begins with internal screening of serving officers from the Flying Branch, usually of Squadron Leader rank or higher, with a strong operational track record and a minimum of around 1,500 flying become a test pilot, however, the officer must volunteer on his own first. Candidates must be medically fit (Category A1G1) and possess strong technical and analytical shortlisted undergo pre-selection evaluations at the Aircraft and Systems Testing Establishment (ASTE) in Bengaluru, where they face a battery of written technical tests, simulator evaluations, and flying assessments designed to measure their ability to adapt to unfamiliar aircraft and tests are followed by interviews and psychometric evaluations to assess mental resilience, problem-solving ability, and motivation—critical traits for handling high-stakes flight selected, candidates undertake an intensive 48-week training course at ASTE, home to the IAF Test Pilots School, one of the few such institutions in the curriculum is divided into academic, flying, and technical reporting modules, covering advanced aerodynamics, aircraft performance, avionics, flight mechanics, and systems integration. Trainee test pilots fly a wide variety of aircraft types, often outside their primary specialisation, and perform highly structured test sorties under closely monitored conditions. They learn to plan, execute, and analyse complex test missions and must produce detailed technical reports on flight characteristics and system graduation, test pilots are typically posted to ASTE or similar units, where they play a vital role in evaluating new aircraft, systems, and weaponry—both indigenous and imported. Their work directly influences India's air combat capabilities, making them central figures in the nation's aerospace UPThe most challenging bit is to develop the adaptability to cope with an unfamiliar cockpit, and Shubhanshu Shukla did that flawlessly with the fixed-wing flew SuU-30 MKI, Dornier, AN-32, Mig-21, and MiG-29 among several aircraft during his test pilot tenure, logging over 2,000 hours of flying under his tenure that lasted for 2-3 years at one stretch required him to develop adaptability in a short timeframe and to act and react to the systems as and when required. "Fighter flying is highly dynamic, so is a space mission that requires you to think on your feet and make split-second decisions, build strong instincts and have the courage to mitigate issues no matter the situation. The Air Force Test Pilot School has prepared Shubhanshu for it well. Therefore, he was one of the first to volunteer for the Gaganyaaan Mission to become an astronaut when the news came," a retired IAF Air Marshal told Shukla now prepares to fly to space on his 14-day mission that will take him through the skies, nearly 400 kilometres above the planet, the learnings from his test pilot missions will come in handy and propel him into a league of his own where only a handful have walked.
Yahoo
13-05-2025
- Business
- Yahoo
ASTE Q1 Earnings Call: Margin Expansion and TerraSource Acquisition Stand Out
Construction equipment company Astec (NASDAQ:ASTE) reported Q1 CY2025 results exceeding the market's revenue expectations , with sales up 6.5% year on year to $329.4 million. Its non-GAAP profit of $0.88 per share was 91.3% above analysts' consensus estimates. Is now the time to buy ASTE? Find out in our full research report (it's free). Revenue: $329.4 million vs analyst estimates of $320.4 million (6.5% year-on-year growth, 2.8% beat) Adjusted EPS: $0.88 vs analyst estimates of $0.46 (91.3% beat) Adjusted EBITDA: $35.2 million vs analyst estimates of $22 million (10.7% margin, 60% beat) Operating Margin: 8.3%, up from 3.9% in the same quarter last year Free Cash Flow was $16.6 million, up from -$52.8 million in the same quarter last year Backlog: $402.6 million at quarter end, down 28.1% year on year Market Capitalization: $952.2 million Astec's first quarter results saw notable improvement in profitability, which management attributed to higher volumes, favorable product mix, and continued operational discipline. CEO Jaco van der Merwe highlighted the positive impact of capital equipment sales and healthy aftermarket demand in the Infrastructure Solutions segment, while acknowledging that Materials Solutions remained pressured by high interest rates and dealer destocking. The team further credited proactive pricing actions and manufacturing efficiencies for the improvement in margins and free cash flow. Looking ahead, management maintained their full-year profitability outlook, but were cautious about uncertainties tied to new U.S. tariffs, which have the potential to disrupt cost structures and customer ordering patterns. Van der Merwe emphasized that the guidance excludes the impact of tariffs and noted, 'We have a really strong team driving this discussion for us right now,' but also signaled that customers may delay orders pending tariff clarity. The company also announced its acquisition of TerraSource, aiming to strengthen its Materials Solutions segment and expand its recurring revenue base. Astec's management identified several business factors shaping the quarter's operational and financial outcomes, with a focus on product mix, operational initiatives, and strategic portfolio expansion. Infrastructure Solutions momentum: Capital equipment and aftermarket parts sales were key contributors, supported by strong demand for asphalt and concrete plants, even as mobile paving and forestry product sales softened. Materials Solutions challenges: High interest rates and dealer inventory reductions constrained capital equipment sales in this segment, though management noted a sequential increase in backlog and implied orders, hinting at possible recovery later in the year. Operational improvements: Margin gains were driven by a combination of pricing actions, procurement efficiency, and cost controls, as highlighted by CFO Brian Harris, who pointed to the company's ability to rapidly adjust to cost pressures, including those arising from steel price fluctuations. Proactive tariff response: Management detailed steps to mitigate the impact of newly imposed U.S. tariffs, including dual sourcing, supplier negotiations, and forward-buying of steel. The company's ability to source steel domestically has helped insulate Astec compared to competitors more reliant on imports. TerraSource acquisition: The planned acquisition of TerraSource, a materials processing equipment provider, is intended to diversify Astec's revenue streams, add scale in aftermarket parts, and enhance international exposure. Management expects TerraSource to contribute immediately to EBITDA margin and free cash flow, with integration synergies expected within two years. Management's outlook for the remainder of the year centers on navigating macroeconomic and policy uncertainties while leveraging operational strengths and new business initiatives. Tariff-related uncertainty: The evolving U.S. tariff environment is expected to influence both customer purchasing activity and input costs, with management monitoring the situation closely and adapting pricing and procurement strategies as needed. Aftermarket parts and service expansion: Management believes the growing installed base and increased focus on recurring aftermarket sales will support revenue stability and margin improvement across both core and newly acquired businesses. Integration of TerraSource: The company expects the addition of TerraSource to provide EBITDA margin expansion and greater product portfolio diversification, though successful integration and realization of synergies remain key risks. Steve Ferazani (Sidoti): Asked why guidance was not raised despite improved order trends; management cited tariff uncertainty and the risk that customers may delay orders while awaiting policy clarity. Steve Ferazani (Sidoti): Pressed for details about TerraSource's recent performance compared to legacy Material Solutions; van der Merwe highlighted TerraSource's greater exposure to fixed installations and robust aftermarket parts business, resulting in more stable margins. Mig Dobre (Baird): Sought clarification on whether full-year guidance excludes the impact of tariffs; management confirmed guidance does not factor in potential tariff effects. Mig Dobre (Baird): Asked about the magnitude of tariff impacts and Astec's ability to absorb or pass on increased costs; management estimated a 4%-10% cost impact if unmitigated, but described proactive measures to offset these effects. Mig Dobre (Baird): Requested historical EBITDA for TerraSource; management declined to provide specifics, but indicated that integration details and updated guidance would be shared post-close. In future quarters, our analysts will monitor (1) whether Materials Solutions segment backlogs and orders rebound as dealer destocking stabilizes, (2) the pace and effectiveness of TerraSource integration and its contribution to margin and cash flow, and (3) the company's ability to adapt to new tariff regimes without sacrificing profitability. Progress on these fronts will determine if Astec can sustain its recent margin improvements and deliver on its strategic growth initiatives. Astec currently trades at a forward P/E ratio of 14.8×. Is the company at an inflection point that warrants a buy or sell? See for yourself in our free research report. The market surged in 2024 and reached record highs after Donald Trump's presidential victory in November, but questions about new economic policies are adding much uncertainty for 2025. While the crowd speculates what might happen next, we're homing in on the companies that can succeed regardless of the political or macroeconomic environment. Put yourself in the driver's seat and build a durable portfolio by checking out our Top 9 Market-Beating Stocks. This is a curated list of our High Quality stocks that have generated a market-beating return of 176% over the last five years. Stocks that made our list in 2020 include now familiar names such as Nvidia (+1,545% between March 2020 and March 2025) as well as under-the-radar businesses like the once-small-cap company Exlservice (+354% five-year return). Find your next big winner with StockStory today. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
06-05-2025
- Business
- Yahoo
Investors Can Find Comfort In Astec Industries' (NASDAQ:ASTE) Earnings Quality
The market was pleased with the recent earnings report from Astec Industries, Inc. (NASDAQ:ASTE), despite the profit numbers being soft. We think that investors might be looking at some positive factors beyond the earnings numbers. We've discovered 2 warning signs about Astec Industries. View them for free. NasdaqGS:ASTE Earnings and Revenue History May 6th 2025 How Do Unusual Items Influence Profit? Importantly, our data indicates that Astec Industries' profit was reduced by US$65m, due to unusual items, over the last year. While deductions due to unusual items are disappointing in the first instance, there is a silver lining. We looked at thousands of listed companies and found that unusual items are very often one-off in nature. And, after all, that's exactly what the accounting terminology implies. Astec Industries took a rather significant hit from unusual items in the year to March 2025. All else being equal, this would likely have the effect of making the statutory profit look worse than its underlying earnings power. That might leave you wondering what analysts are forecasting in terms of future profitability. Luckily, you can click here to see an interactive graph depicting future profitability, based on their estimates. Our Take On Astec Industries' Profit Performance As we discussed above, we think the significant unusual expense will make Astec Industries' statutory profit lower than it would otherwise have been. Based on this observation, we consider it possible that Astec Industries' statutory profit actually understates its earnings potential! And on top of that, its earnings per share have grown at 33% per year over the last three years. The goal of this article has been to assess how well we can rely on the statutory earnings to reflect the company's potential, but there is plenty more to consider. So while earnings quality is important, it's equally important to consider the risks facing Astec Industries at this point in time. Case in point: We've spotted 2 warning signs for Astec Industries you should be aware of. This note has only looked at a single factor that sheds light on the nature of Astec Industries' profit. But there is always more to discover if you are capable of focussing your mind on minutiae. Some people consider a high return on equity to be a good sign of a quality business. While it might take a little research on your behalf, you may find this free collection of companies boasting high return on equity, or this list of stocks with significant insider holdings to be useful. Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.
Yahoo
09-04-2025
- Business
- Yahoo
1 Small-Cap Stock with Exciting Potential and 2 to Approach with Caution
Small-cap stocks can be incredibly lucrative investments because their lack of analyst coverage leads to frequent mispricings. However, these businesses (and their stock prices) often stay small because their subscale operations make it harder to expand their competitive moats. The downside that can come from buying these securities is precisely why we started StockStory - to isolate the long-term winners from the losers so you can invest with confidence. Keeping that in mind, here is one small-cap stock that could be the next 100 bagger and two that could be down big. Market Cap: $699.7 million Inventing the first ever double-barrel hot-mix asphalt plant, Astec (NASDAQ:ASTE) provides machines and equipment for building roads, processing raw materials, and producing concrete. Why Are We Hesitant About ASTE? Annual revenue growth of 1.2% over the last two years was below our standards for the industrials sector Anticipated sales growth of 3.5% for the next year implies demand will be shaky Capital intensity has ramped up over the last five years as its free cash flow margin decreased by 12.1 percentage points At $30.45 per share, Astec trades at 12x forward price-to-earnings. To fully understand why you should be careful with ASTE, check out our full research report (it's free). Market Cap: $1.06 billion Starting as a virtual assistant service in 2008 before evolving into a global digital services provider, TaskUs (NASDAQ:TASK) provides outsourced digital services including customer experience management, content moderation, and AI data services to innovative technology companies. Why Does TASK Give Us Pause? Muted 1.8% annual revenue growth over the last two years shows its demand lagged behind its business services peers Earnings per share have dipped by 3.9% annually over the past two years, which is concerning because stock prices follow EPS over the long term ROIC of 5.4% reflects management's challenges in identifying attractive investment opportunities TaskUs's stock price of $11.49 implies a valuation ratio of 8.5x forward price-to-earnings. Dive into our free research report to see why there are better opportunities than TASK. Market Cap: $3.33 billion Managing over 165 million tolling transactions per year, Verra Mobility (NYSE:VRRM) is a leading provider of smart mobility technology that enhances safety, efficiency, and convenience on roadways. Why Do We Love VRRM? Annual revenue growth of 14.4% over the past five years was outstanding, reflecting market share gains this cycle Offerings are mission-critical for businesses and result in a best-in-class gross margin of 62.3% Strong free cash flow margin of 19.6% enables it to reinvest or return capital consistently, and its improved cash conversion implies it's becoming a less capital-intensive business Verra Mobility is trading at $20.25 per share, or 16x forward price-to-earnings. Is now a good time to buy? See for yourself in our comprehensive research report, it's free. The market surged in 2024 and reached record highs after Donald Trump's presidential victory in November, but questions about new economic policies are adding much uncertainty for 2025. While the crowd speculates what might happen next, we're homing in on the companies that can succeed regardless of the political or macroeconomic environment. Put yourself in the driver's seat and build a durable portfolio by checking out our Top 9 Market-Beating Stocks. This is a curated list of our High Quality stocks that have generated a market-beating return of 175% over the last five years. Stocks that made our list in 2019 include now familiar names such as Nvidia (+2,183% between December 2019 and December 2024) as well as under-the-radar businesses like United Rentals (+322% five-year return). Find your next big winner with StockStory today for free. Sign in to access your portfolio
Yahoo
27-02-2025
- Business
- Yahoo
Is The Market Rewarding Astec Industries, Inc. (NASDAQ:ASTE) With A Negative Sentiment As A Result Of Its Mixed Fundamentals?
With its stock down 7.4% over the past three months, it is easy to disregard Astec Industries (NASDAQ:ASTE). It seems that the market might have completely ignored the positive aspects of the company's fundamentals and decided to weigh-in more on the negative aspects. Fundamentals usually dictate market outcomes so it makes sense to study the company's financials. Particularly, we will be paying attention to Astec Industries' ROE today. ROE or return on equity is a useful tool to assess how effectively a company can generate returns on the investment it received from its shareholders. In other words, it is a profitability ratio which measures the rate of return on the capital provided by the company's shareholders. View our latest analysis for Astec Industries The formula for return on equity is: Return on Equity = Net Profit (from continuing operations) ÷ Shareholders' Equity So, based on the above formula, the ROE for Astec Industries is: 0.6% = US$4.1m ÷ US$638m (Based on the trailing twelve months to December 2024). The 'return' is the profit over the last twelve months. Another way to think of that is that for every $1 worth of equity, the company was able to earn $0.01 in profit. Thus far, we have learned that ROE measures how efficiently a company is generating its profits. Based on how much of its profits the company chooses to reinvest or "retain", we are then able to evaluate a company's future ability to generate profits. Assuming all else is equal, companies that have both a higher return on equity and higher profit retention are usually the ones that have a higher growth rate when compared to companies that don't have the same features. It is hard to argue that Astec Industries' ROE is much good in and of itself. Not just that, even compared to the industry average of 14%, the company's ROE is entirely unremarkable. Given the circumstances, the significant decline in net income by 24% seen by Astec Industries over the last five years is not surprising. We believe that there also might be other aspects that are negatively influencing the company's earnings prospects. For instance, the company has a very high payout ratio, or is faced with competitive pressures. So, as a next step, we compared Astec Industries' performance against the industry and were disappointed to discover that while the company has been shrinking its earnings, the industry has been growing its earnings at a rate of 15% over the last few years. Earnings growth is an important metric to consider when valuing a stock. It's important for an investor to know whether the market has priced in the company's expected earnings growth (or decline). By doing so, they will have an idea if the stock is headed into clear blue waters or if swampy waters await. Is ASTE fairly valued? This infographic on the company's intrinsic value has everything you need to know. Looking at its three-year median payout ratio of 41% (or a retention ratio of 59%) which is pretty normal, Astec Industries' declining earnings is rather baffling as one would expect to see a fair bit of growth when a company is retaining a good portion of its profits. So there could be some other explanations in that regard. For instance, the company's business may be deteriorating. In addition, Astec Industries has been paying dividends over a period of at least ten years suggesting that keeping up dividend payments is way more important to the management even if it comes at the cost of business growth. Upon studying the latest analysts' consensus data, we found that the company's future payout ratio is expected to drop to 16% over the next three years. Accordingly, the expected drop in the payout ratio explains the expected increase in the company's ROE to 8.2%, over the same period. In total, we're a bit ambivalent about Astec Industries' performance. While the company does have a high rate of profit retention, its low rate of return is probably hampering its earnings growth. Having said that, looking at current analyst estimates, we found that the company's earnings growth rate is expected to see a huge improvement. To know more about the company's future earnings growth forecasts take a look at this free report on analyst forecasts for the company to find out more. Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned. Sign in to access your portfolio
