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Mar 31, 2024
Foster Q1 2024 Earnings Report
L.B. Foster experienced sales and profitability growth, driving continuing momentum.
Key Takeaways
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.
Net sales increased by 7.6% year-over-year, driven by organic growth.
Net income was $4.4 million, a favorable increase of $6.6 million year-over-year.
Adjusted EBITDA increased by 32.4% year-over-year.
The company reaffirmed its full year 2024 financial guidance.
Foster
Foster
Forward Guidance
The company reaffirmed its full-year 2024 financial guidance.
Positive Outlook
- Net sales are expected to range from $525.0 million to $560.0 million.
- Adjusted EBITDA is expected to range from $34.0 million to $39.0 million.
- Free cash flow is expected to range from $12.0 million to $18.0 million.
- Capital spending as a percent of sales is expected to range from 2.0% to 2.5%.
- Order rates began to show signs of recovery in the quarter.