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Dec 31, 2019
Foster Q4 2019 Earnings Report
L.B. Foster's Q4 2019 operating results were reported, featuring a net income of $26.3 million and a sales decrease of 9.2% compared to the prior year quarter.
Key Takeaways
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.
Net income for the fourth quarter was $26.3 million, or $2.46 per diluted share.
Sales for the fourth quarter decreased by 9.2% to $149.4 million.
New orders in the fourth quarter increased by 31.5% year-over-year.
Backlog increased by 4.4% from the prior year end to $230.1 million.
Foster
Foster
Forward Guidance
Company is continuing to invest in expanding service and solutions offerings in attractive segments and modernization programs.