Foster Earnings Reports

L.B. Foster Company reported a 4.9% year-over-year decrease in second-quarter net sales, with organic sales down 3.4%. Net income decreased by 19.4% to $2.8 million, and adjusted EBITDA fell by 23.8% to $8.1 million. The company is implementing restructuring efforts to reduce costs and enable growth, while adjusting its full-year financial guidance to reflect uncertain market conditions.

L.B. Foster Company reported a strong start to 2024 with a 7.6% increase in net sales and a significant rise in net income to $4.4 million. The company reaffirmed its full-year 2024 financial guidance, expecting net sales between $525.0 million and $560.0 million.

L.B. Foster's Q4 2023 results showed a decrease in net sales by 1.7% year-over-year to $134.9 million, but gross margins expanded by 200 basis points to 21.5%. The company experienced a net loss of $0.5 million, but cash flow from operations was strong at $22.1 million. The company realigned financial reporting structure through two reportable business segments: Rail, Technologies and Services and Infrastructure Solutions.

L.B. Foster's third quarter results showed an 11.8% increase in net sales year-over-year, reaching $145.3 million. Gross profit increased by 22.2% to $28.2 million, with gross margins up by 160 basis points to 19.4%. Net income was $0.5 million, a $2.6 million increase year-over-year, and adjusted EBITDA rose by 14.2% to $10.6 million. Strong cash flow generation reduced net debt by $16.9 million to $68.7 million.

L.B. Foster reported a strong second quarter with net sales up 12.6% year-over-year and gross profit up 38.5%. The company increased its adjusted EBITDA guidance for 2023, reflecting improved profitability.

L.B. Foster reported a 16.9% increase in net sales and a 41.6% increase in gross profit for the first quarter of 2023. The company sold its Chemtec business and reduced net debt by $11.5 million. Order rates and backlog remained strong, with a focus on organic growth and margin expansion.

L.B. Foster reported a 21.4% increase in fourth-quarter net sales to $137.2 million, with gross margins expanding to 19.5%. The company's adjusted EBITDA rose by 132.6% to $7.5 million. New orders increased by 44.8% to $137.8 million, and the backlog reached $272.3 million. However, the company reported a net loss of $43.9 million due to a deferred tax asset valuation allowance and asset impairment charges.

L.B. Foster reported third quarter net sales of $130.0 million, flat compared to the prior year, but up 8.7% organically. The company reported a net loss of $2.1 million, down $4.3 million from last year, while adjusted EBITDA was $9.3 million, up $4.9 million year-over-year.

L.B. Foster reported a decrease in net sales for the second quarter of 2022, primarily due to the divestiture of its Piling Products division and a decline in the Rail, Technologies, and Services segment. However, new orders and backlog increased, and the company completed two acquisitions in the U.K.

L.B. Foster reported a net loss of $1.6 million for Q1 2022, with diluted loss per share at $0.15. Despite a decrease in net sales compared to the previous year, new orders increased by 17.7% and backlog grew by 16.4% sequentially. The company faced challenges including raw material inflation and supply chain disruptions, impacting margins.

L.B. Foster reported a decrease in net sales and gross profit for the fourth quarter of 2021 compared to the prior year quarter, primarily due to the sale of Piling in September 2021 and challenges in the midstream energy businesses. However, sales in Rail increased, and the company is optimistic about longer-term trends in its core end markets.

L.B. Foster reported a 9.9% increase in net sales compared to the third quarter of 2020, driven by strength in rail, precast concrete products, and fabricated steel business lines. The company's backlog increased by 9.8% and new orders increased by 18.5%, both adjusted for the divestiture of the Piling business.

L.B. Foster reported a net sales increase of 9.2% year-over-year, driven by the Rail Technologies and Services segment. Net income from continuing operations was $2.9 million, or $0.27 per diluted share. The company's backlog increased by 12.4% to $253.2 million.

L.B. Foster reported a decrease in net sales and gross profit for the first quarter of 2021, with net sales at $116.1 million and gross profit at $18.8 million. The company experienced a net loss from continuing operations of $1.3 million, or $0.12 per diluted share. However, backlog increased by 14.6% to $271.9 million, and net debt decreased to $31.8 million.

L.B. Foster reported a decrease in net sales and gross profit for the fourth quarter of 2020, primarily due to the impact of the COVID-19 pandemic and weakness in the energy market. Net income from continuing operations was $2.3 million, or $0.21 per diluted share. New orders decreased by 23.4% from the prior year, but backlog increased by 8.4%.

L.B. Foster reported a decrease in net sales and gross profit for the third quarter of 2020, primarily due to the impact of the COVID-19 pandemic and weakness in the energy market. However, backlog increased driven by the Rail and Construction segments, and the company reduced its net debt.

L.B. Foster Company reported a decrease in net sales by 27.5% and net income decreased to $0.5 million, or $0.05 per diluted share, compared to the prior year quarter. However, net sales increased from the first quarter of 2020 by 13.2%. The company experienced disruptions due to the COVID-19 pandemic, but order activity in the Rail and Construction segments remained steady.

L.B. Foster reported a net loss of $1.9 million, or $0.18 loss per diluted share, and a decrease in net sales of 14.4% to $128.8 million for the first quarter of 2020. The decline in revenue was primarily driven by the COVID-19 pandemic and its impact on demand for crude oil.

L.B. Foster reported a mixed Q4 2019 with a significant increase in net income driven by a tax benefit, but also a decrease in sales. New orders increased substantially, leading to a higher backlog. The company focused on efficiency and working capital management.