L B Foster Stock Price, News & Analysis

L.B. Foster reported softer Q2 results following a strong Q1. Net sales were $140.8M, down 4.9% YoY, but up 13.3% sequentially. Gross profit was $30.5M, down 5.4% YoY, with margins flat at 21.7%. Net income fell 19.4% to $2.8M. Adjusted EBITDA dropped 23.8% to $8.1M. Net debt decreased to $83.2M. New orders were $171M, down 6.9% YoY, but up 29.2% sequentially. The backlog fell 13.9% to $249.8M. 2024 guidance was revised due to uncertain market conditions, with net sales now expected between $525M-$550M, adjusted EBITDA between $34M-$37M, and free cash flow breakeven. The stock repurchase program was modified to increase flexibility, with $11M remaining. Enterprise restructuring continues, expected to save $4.5M annually by 2025. Operating income dropped 29.1% to $4.5M due to lower sales and margins in the Rail segment. CEO John Kasel highlighted near-term headwinds but remains focused on long-term growth.

L.B. Foster Company (NASDAQ: FSTR) has announced the release of its second quarter 2024 results on Tuesday, August 6, 2024, before market opening. The company will host a conference call at 11:00 A.M. Eastern Time to discuss operating results, market outlook, and business developments. A presentation will be available on the company's Investor Relations page following the earnings release.

The conference call will be webcasted live through L.B. Foster's website, with a replay available until August 13, 2024. Participants interested in the Q&A session can register for the call to receive dial-in numbers and a unique PIN. L.B. Foster, founded in 1902, is a global technology solutions provider of engineered, manufactured products and services for infrastructure support.

L.B. Foster (NASDAQ: FSTR), a global provider of technology solutions for rail and infrastructure markets, announced the release of its first Sustainability Report on June 26, 2024. The report underscores the company's dedication to sustainable practices and value creation in manufacturing, natural resources, human capital, intellectual property, and social relationships.

President & CEO John Kasel highlighted the company's alignment with stakeholder sustainability needs and its commitment to transparent reporting. External consultants conducted a materiality assessment, identifying key sustainability topics relevant to investors, customers, employees, and industry peers. The Report adheres to the Global Reporting Initiative (GRI), the Sustainable Accounting Standards Board (SASB) guidelines, and emphasizes a long-term vision of integrated reporting.

Janet Lee, Director and Corporate Responsibility Committee Chair, stated that the report reflects the company's accountability and structured approach to sustainability, focusing on employee practices, environmental footprint, and customer benefits.

Culp has entered a cooperation agreement with its major shareholder, 22NW. As part of this agreement, Alexander B. Jones from 22NW will join Culp's board and will be nominated for a position at the 2024 Annual Shareholders Meeting. Jones, who oversees investments at 22NW, is also an Independent Director at L.B. Foster Company. Both parties have expressed optimism about the collaboration, especially given Culp's ongoing restructuring plan. The full agreement will be filed with the SEC as a form 8-K.

L.B. Foster Company (NASDAQ: FSTR) announced that its CEO, John Kasel, and CFO, Bill Thalman, will present at the Three Part Advisors’ East Coast IDEAS Investor Conference on June 12, 2024, at 9:15 AM EDT in New York, NY. The presentation materials will be available on the company's Investor Relations website the morning of the conference. The event will be webcast live, with a video replay accessible online for 90 days. L.B. Foster, a global provider of engineered products and services, was founded in 1902 and operates in multiple regions including North America, South America, Europe, and Asia. For further information, visit the company's website.

L.B. Foster Company (Nasdaq: FSTR) announced that its Board of Directors received the 'Public Company Board of the Year' award from the NACD Three Rivers Chapter. The recognition highlights the board's efforts in implementing effective changes and transforming the company over the past three years. Chairman Raymond T. Betler expressed gratitude for the award and emphasized the company's commitment to its investors.

L.B. Foster Company reported strong first quarter 2024 results with net sales of $124.3 million up 7.6% year over year, gross profit of $26.2 million up 12.7% year over year, and net income of $4.4 million. The company reaffirmed its 2024 guidance with net sales expected to range from $525.0 million to $560.0 million.

L.B. Foster Company (NASDAQ: FSTR) will report its first quarter 2024 results on May 7, 2024, and present virtually at the Sidoti Micro-Cap Conference on May 8, 2024. The conference call to discuss operating results and market outlook will be held at 11:00 A.M. Eastern Time. Presentation materials will be available on the Company's website. Investors can participate in the question-and-answer session by registering online.