Foster Q4 2023 Earnings Report
Key Takeaways
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.
Net sales decreased by 1.7% year-over-year, but increased organically by 7.7%.
Gross margins expanded by 200 basis points to 21.5%.
Net loss was $0.5 million, a favorable change of $43.5 million over the prior year quarter.
Cash flow from operations was $22.1 million, a $13.8 million increase over the prior year quarter.
Foster
Foster
Forward Guidance
The Company announced full year financial guidance for 2024 with net sales expected to range from $525.0 million to $560.0 million, adjusted EBITDA ranging from $34.0 million to $39.0 million, and free cash flow ranging from $12.0 million to $18.0 million.
Positive Outlook
- Net sales expected to range from $525.0 million to $560.0 million
- Representing organic growth of approximately 0.0% to 6.0%
- Adjusted EBITDA ranging from $34.0 million to $39.0 million
- Representing approximately 6.5% to 7.0% of sales
- Free cash flow ranging from $12.0 million to $18.0 million