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 (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.