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 (NASDAQ: FSTR) generates a steady flow of news related to its role as a manufacturing and technology provider for the rail and infrastructure markets. Company announcements frequently discuss segment performance in Rail Technologies and Services and Infrastructure Solutions, highlighting trends in sales, profitability, orders, and backlog across business units such as Rail Products, Global Friction Management, Technology Services and Solutions, Precast Concrete Products, Steel Products, and Protective Coatings.
Investors following FSTR news will see regular quarterly earnings releases, where L.B. Foster reports net sales, operating income, net income or loss, Adjusted EBITDA, free cash flow, gross leverage ratio, new orders, and backlog. Management commentary in these releases often explains changes in demand for rail distribution, friction management offerings, track monitoring and technology services, and infrastructure products like precast concrete and protective coatings, as well as the impact of portfolio actions and cost controls.
The company also issues news on financing and capital structure developments. For example, L.B. Foster has announced amendments to its revolving credit agreement, including increased borrowing capacity, extended maturity, and revised covenant terms that relate to leverage and fixed charge coverage. Such items are typically accompanied by management statements about how the facility supports growth programs and corporate finance initiatives.
In addition, L.B. Foster publishes updates about investor relations activities, including presentations at investor conferences hosted by firms such as Sidoti, Singular Research, and Three Part Advisors. These notices provide details on virtual and in-person presentations, webcasts, and access to related materials. By monitoring this news stream, readers can track how the company describes its operating trends, strategic focus on rail and infrastructure platforms, and interactions with the investment community.
L.B. Foster Company (NASDAQ: FSTR) announced that CEO John Kasel and CFO Bill Thalman will present at the Singular Research Midwestern Values investor conference on September 14, 2022, at 4:45 PM ET. The presentation will be accessible via a live video webcast, with slides and a replay available online for 30 days. Investors can find the registration link and presentation materials on the company's website on the event day. Founded in 1902, L.B. Foster provides engineered solutions for infrastructure needs globally.
L.B. Foster Company (NASDAQ: FSTR) announced that its President and CEO, John Kasel, along with CFO Bill Thalman, will present at the Three Part Advisors Midwest IDEAS Investor Conference. The presentation is scheduled for 3:45 PM Central Time on August 24, 2022, at The Gwen hotel in Chicago, IL. A video webcast will be available during and after the event, with replay access for 90 days. More details can be found on the L.B. Foster website.
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.