L B Foster Stock Price, News & Analysis

L.B. Foster Company (Nasdaq: FSTR) announced the acquisition of VanHooseCo Precast LLC for $50.5 million. This acquisition includes the assets of a precast concrete manufacturer, expanding L.B. Foster's market reach into commercial and residential development. With VanHooseCo generating ~$28 million in revenue and ~$1.4 million in net income in 2021, the deal is expected to enhance growth opportunities. The acquisition was supported by an amendment to L.B. Foster's revolving credit agreement to accommodate this transaction.

L.B. Foster Company (Nasdaq: FSTR) reported its Q2 2022 results, revealing a 14.9% decline in net sales to $131.5 million year-over-year, attributed mainly to the divestiture of its Piling Products division. Despite this, new orders rose 2.1% to $141.4 million, with a 24.7% increase excluding Piling. Backlog stood at $250.8 million, reflecting a 14.3% year-over-year increase. Net income fell to $2.0 million, or $0.18 per share, from $2.9 million a year prior. The company has acquired Skratch and Intelligent Video, enhancing its technological capabilities. CEO John Kasel remains optimistic about future growth driven by infrastructure investments.

L.B. Foster Company (Nasdaq: FSTR) has announced the divestiture of its rail spikes and anchors track components business located in St-Jean-sur-Richelieu, Quebec, to Gerdau Ameristeel Corporation for approximately CAD 10.2 million (US $7.8 million). This business generated revenue of roughly US $14 million over the trailing twelve months ending June 30, 2022. President and CEO John Kasel emphasized that the sale marks a significant step in their strategic transformation and the proceeds will reduce debt and support future growth initiatives.

L.B. Foster Company (NASDAQ: FSTR) will announce its second quarter 2022 operating results on August 9, 2022, before market opening. A conference call will follow at 11:00 A.M. Eastern Time to discuss the results and market outlook. Participants can access the live webcast through the company’s Investor Relations page, where a presentation will also be available post-release. Replay will be accessible until August 16. Interested participants are encouraged to register for the Q&A session to receive call details.

L.B. Foster Company (NASDAQ: FSTR) has acquired Skratch Enterprises Ltd. and Intelligent Video Ltd., enhancing its digital solutions capabilities within rail and adjacent markets. Skratch, based in the UK, offers integrated digital systems, while IV specializes in security solutions. This acquisition aligns with L.B. Foster's growth strategy, expanding its technological offerings and market reach in the UK and Europe. Both companies will operate as subsidiaries, adding 38 employees to L.B. Foster's existing workforce of 1,300 globally.

L.B. Foster Company (NASDAQ: FSTR) has appointed Raymond T. Betler as the Chairman of its Board of Directors, effective June 2, 2022. Betler, who has been on the board since August 2020, succeeds Lee B. Foster II, who retired. With over 40 years in the transportation industry, Betler previously served as CEO of Wabtec Corporation. His extensive experience in rail systems positions him to enhance L.B. Foster's growth strategy. John Kasel, President & CEO, expressed confidence in Betler's leadership to positively influence stakeholder outcomes.

L.B. Foster Company (NASDAQ: FSTR) will present at the Lytham Partners Summer 2022 Virtual Investor Conference on June 21, 2022, at 9:00 AM Eastern Time. The presentation will feature John Kasel, President and CEO, along with Bill Thalman, CFO. A video webcast along with a replay will be accessible for one year following the event on the company's website, enhancing transparency for investors. Founded in 1902, L.B. Foster provides engineered solutions to infrastructure challenges globally.

L.B. Foster Company (NASDAQ: FSTR) has received the prestigious RAVS Plus® recognition from ISNetworld, a leading global safety compliance group. This designation, awarded to a select few contractors, highlights the company's strong commitment to safety in its operations. Following an intensive audit with zero deficiencies, the company demonstrated robust safety practices and training for its rail service technicians. This recognition not only enhances customer confidence but also validates the effectiveness of the company's safety culture model, SPIRIT.

On May 26, 2022, L.B. Foster announced it will host delegates from 20 countries at its Pueblo, CO facility during the International Level Crossing Awareness Day (ILCAD) conference, taking place June 9-10. The event aims to enhance level crossing safety, with L.B. Foster showcasing its innovative Insight grade crossing obstacle detection system, utilizing LiDAR technology to improve safety at railroad crossings. Notably, U.S. statistics indicate 5,800 train-car accidents annually, leading to 600 fatalities and 2,300 injuries. L.B. Foster's solutions aim to mitigate these risks and enhance operational safety.