Foster Q4 2022 Earnings Report
Key Takeaways
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.
Net sales increased by 21.4% year-over-year, reaching $137.2 million.
Adjusted EBITDA increased by 132.6% year-over-year, reaching $7.5 million.
New orders increased by 44.8% year-over-year, reaching $137.8 million.
Backlog reached $272.3 million.
Foster
Foster
Forward Guidance
The Company is initiating 2023 financial guidance with net sales expected to range between $540.0 million to $570.0 million and adjusted EBITDA1 expected to range between $27.0 million and $31.0 million.