Welcome to our dedicated page for L B Foster news (Ticker: FSTR), a resource for investors and traders seeking the latest updates and insights on L B Foster stock.
L.B. Foster Company provides technology solutions, products, and services for the rail and infrastructure markets under the Nasdaq symbol FSTR. Company news centers on operating results, segment demand, backlog, orders, cash flow, leverage, guidance, and conference presentations.
Recurring updates describe the Rail segment, including rail products, Global Friction Management, Total Track Monitoring, and Technology Services and Solutions, alongside Infrastructure activities such as engineered precast concrete, fabricated bridge offerings, protective pipe coating, and pipe threading. Coverage also includes capital allocation items such as debt reduction and share repurchases when reported in company results.
L.B. Foster Company (NASDAQ: FSTR) reported second-quarter 2020 results with net income of $0.5 million, down from $9.6 million year-over-year. Net sales fell by 27.5% to $145.8 million, affected by significant weakness in the energy sector due to the COVID-19 pandemic. Adjusted net income was $4.4 million, while gross profit dropped 27.1%. Despite a 15.7% decrease in new orders to $138.3 million, backlog increased by 7.9% to $225.9 million. The company anticipates continued challenges in the Tubular and Energy segment and expects to leverage its strong balance sheet for stability.
L.B. Foster Company (NASDAQ: FSTR) has appointed Raymond T. Betler to its Board of Directors effective August 3, 2020. Betler brings over four decades of experience in the transportation industry, notably as President and CEO of Wabtec, where he led significant acquisitions and revenue growth from $1 billion to $9 billion. His expertise in rail transportation systems is expected to enhance L.B. Foster’s strategic initiatives, particularly in rail technologies. Betler also serves on other boards and has a strong engineering background, making him a valuable addition to the company’s leadership.
L.B. Foster Company (NASDAQ: FSTR) will announce its second quarter operating results on August 4, 2020, after market close. A conference call is scheduled for the same day at 5:00 p.m. ET to discuss the results and market outlook. Participants can join by phone or via a webcast on the company’s Investor Relations page. A replay will be available until August 11, 2020. L.B. Foster specializes in transportation and energy infrastructure products and services.
L.B. Foster Company (NASDAQ: FSTR) has announced a transition to a virtual-only format for its annual meeting scheduled on May 28, 2020, at 8:30 AM EDT. This decision is a response to the COVID-19 pandemic, ensuring shareholder safety during public health concerns. Shareholders who are on record as of March 27, 2020, can participate by utilizing a control number provided earlier to vote and address questions during the meeting. More details and access can be found at www.virtualshareholdermeeting.com/FSTR2020.
L.B. Foster Company (FSTR) reported a first-quarter 2020 net loss of $1.9 million, equating to a loss of $0.18 per diluted share, down from a profit of $3.7 million year-over-year. Net sales decreased 14.4% to $128.8 million, driven by declines across all segments due to COVID-19 impacts. New orders fell 23.9%, negatively affecting backlog, though it increased from $230.1 million to $237.7 million quarter-over-quarter. The company anticipates further disruptions into Q2 2020, while managing costs through closures and operational adjustments. Adjusted EBITDA decreased 68.8% to $3.2 million.