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.
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L.B. Foster Company (NASDAQ: FSTR) announced a strategic agreement with 22NW, LP, one of its largest shareholders. As part of this agreement, Alexander B. Jones will serve as a non-voting Board Observer, effective immediately. Jones, a Research Analyst at 22NW, brings experience overseeing investments in various sectors. Company Chairman Raymond T. Betler expressed optimism about the collaboration, envisioning beneficial insights on capital allocation and shareholder value enhancement. Aron R. English, 22NW’s Portfolio Manager, acknowledged the productive dialogue and expressed excitement over L.B. Foster's progress in its strategic transformation. The agreement also includes customary standstill and voting provisions, with details to be filed with the SEC.
L.B. Foster Company (NASDAQ: FSTR) has announced the sale of most assets from its Chemtec Energy Services division, generating approximately $6.6 million in cash, subject to working capital adjustments. The divested business, located in Texas, had revenues of about $25 million for the past twelve months. This strategic move aims to reduce exposure to the energy market and lower the company’s leverage, aligning with management's focus on financial stability. Following the sale, L.B. Foster has updated its financial guidance for 2023, projecting net sales between $520 million and $550 million, down from a previous estimate.
L.B. Foster Company (NASDAQ: FSTR) reported a 21.4% increase in fourth quarter net sales, reaching $137.2 million. Gross margins improved by 260 basis points to 19.5%. Despite these gains, the company faced a net loss of $43.9 million, impacted by a $37.9 million deferred tax asset valuation and $8.0 million in asset impairment charges. The fourth quarter saw adjusted EBITDA rise by 132.6% to $7.5 million. New orders reached $137.8 million, a 44.8% increase year-over-year. For 2023, the company projects net sales of $540 million to $570 million and announced a $15 million stock buyback plan.
PITTSBURGH, Feb. 21, 2023 (GLOBE NEWSWIRE) -- L.B. Foster Company (NASDAQ: FSTR) announced it will release its fourth quarter and full year 2022 operating results on March 6, 2023, before market opening. A conference call to discuss these results, market outlook, and business developments will be held at 11:00 A.M. Eastern Time on the same day. An earnings presentation will be available on the Company’s Investor Relations page following the release. The call will be webcast live, and a replay will be accessible until March 13, 2023. Participants can register for the question-and-answer session via the provided links.
L.B. Foster Company (NASDAQ: FSTR) announces a strategic partnership with FUCHS Lubricants Co., enhancing its friction management solutions in the rail industry. This collaboration leverages L.B. Foster's expertise in friction management technologies and FUCHS's manufacturing capabilities, promoting co-branded greases aimed at reducing operational costs and improving safety for rail customers. The partnership aims to meet growing demand in North America and international markets while providing customers with a comprehensive lubrication solution.
L.B. Foster Company (NASDAQ: FSTR) announced the appointment of Ms. Janet Lee to its Board of Directors effective January 1, 2023. This follows the retirements of Ms. Suzanne B. Rowland and Mr. Robert S. Purgason on December 31, 2022. Ms. Lee, currently Vice President and General Counsel at ANSYS, brings over 30 years of legal experience. Her expertise encompasses intellectual property, cybersecurity, and risk management. L.B. Foster's Chairman expressed optimism about her contributions to enhancing shareholder value.
L.B. Foster Company (NASDAQ: FSTR) will present at the Singular Research Best of the Uncovered investor conference on December 8, 2022, at 4:00 PM ET. Bill Thalman, CFO, and Sean Reilly, Controller, will lead the presentation. A live video webcast and slides will be accessible online, with a replay available for 30 days. Founded in 1902, L.B. Foster specializes in engineered solutions for infrastructure across multiple continents. For more details, visit www.lbfoster.com.
L.B. Foster Company (Nasdaq: FSTR) reported its 2022 third quarter results, announcing net sales of $130.0 million, flat compared to last year, but up 8.7% organically. The company experienced a net loss of $2.1 million but saw adjusted EBITDA rise 110.8% to $9.3 million. Backlog reached a five-year high of $272.8 million, with new orders totaling $137.3 million, slightly down from the previous year. The company completed acquisitions of Intelligent Video Ltd. and VanHooseCo, while divesting its rail spikes and anchors business, impacting overall performance. The management remains cautiously optimistic amid ongoing economic challenges.