L B Foster Stock Price, News & Analysis

L.B. Foster Company (NASDAQ: FSTR) announced its participation in the Lytham Partners Fall 2021 Investor Conference, where President and CEO John Kasel, along with CFO Bill Thalman, will present. The presentation is scheduled for October 6, 2021, at 8:45 AM Eastern Time. Interested parties can access a video webcast, presentation slides, and a video replay, which will be available for 90 days on the company’s Investor Relations page. L.B. Foster provides essential products and services for the rail industry and critical infrastructure projects worldwide.

L.B. Foster Company (NASDAQ: FSTR) announced the completion of its sale of the steel Piling Products line to J.D. Fields & Company for approximately $24 million. The divestiture retains all pre-closing receivables and liabilities. The Piling Products division generated $43 million in revenue for the first half of 2021 and $59 million for 2020. CEO John Kasel highlighted that this move will enhance shareholder value by reallocating capital to more profitable areas, particularly Rail Technologies and Precast Concrete, which offer better growth opportunities. An investor call is scheduled for October 4, 2021.

L.B. Foster Company (NASDAQ: FSTR) announced that Bill Thalman, Senior VP and CFO, along with Jim Kempton, Corporate Controller, will present at the Singular Research Compelling Values 2021 Webinar. The presentation is scheduled for 1:00 PM Eastern Time on September 16, 2021. A live video webcast, along with presentation slides and a replay for 14 days, will be available on the Company's website on the day of the event. L.B. Foster provides products and services for the rail industry and critical infrastructure projects across multiple continents.

L.B. Foster Company’s subsidiary, Chemtec Energy Services, has secured a contract with Howard Energy Partners to build five custody transfer metering skids for a renewable diesel production facility in Port Arthur, Texas. This facility, owned by Diamond Green Diesel, aims to produce over 470 million gallons of renewable diesel annually from recycled feedstocks. The project aligns with the growing demand for renewable fuels and positions Chemtec to leverage its expertise in metering systems, enhancing its market presence in the sustainable fuels sector.

L.B. Foster Company (NASDAQ: FSTR) announced a new Fourth Amended and Restated Credit Agreement on August 13, 2021, which extends the facility's maturity to August 13, 2026. The agreement increases borrowing capacity to $130 million and reduces borrowing costs by approximately 200 basis points. This improvement enhances financial flexibility for working capital, capital expenditures, and acquisitions. CEO John Kasel expressed confidence in growth opportunities in the digital railway and infrastructure sectors, supported by this credit facility.

L.B. Foster Company (NASDAQ: FSTR) reported strong Q2 2021 results with net sales of $154.5M, a 33.1% sequential increase and a 9.2% rise year-over-year. Gross profit improved sequentially to $26.2M but declined 7.0% from the prior year. Net income was $2.9M, down $4.1M compared to the previous year. Adjusted EBITDA fell 35.4% to $8.3M. The backlog grew 12.4% to $253.2M, driven by a surge in Infrastructure Solutions, although challenges persist in the Coatings and Measurement unit due to midstream energy market weaknesses. Optimism remains for H2 2021 amid strong order activity.

L.B. Foster Company (NASDAQ: FSTR) announced the release of its second quarter 2021 operating results, scheduled for pre-market on August 3, 2021. A conference call to discuss these results, along with market outlook and business developments, will occur at 11:00 a.m. Eastern Time on the same day. Participants can join via telephone or access the call through the company's Investor Relations page. A replay of the conference call will be available until August 10, 2021. For further details, visit www.lbfoster.com.

L.B. Foster Company (NASDAQ: FSTR) has secured a $7 million subcontract to provide 5,750 tons of steel piling for the rehabilitation of upstream approach walls at the U.S. Army Corps of Engineers' Soo Locks Complex in Michigan. The project, aimed at improving navigation for critical raw materials, is a collaboration with Kokosing-Alberici, LLC. Construction is set to use advanced steel materials and is expected to be completed in 2023. The Soo Locks are vital for shipping approximately 80 million tons of commodities annually.

L.B. Foster Company announced the retirement of CEO Robert P. Bauer, effective July 21, 2021, after nearly a decade in the role. John F. Kasel, the current COO with 18 years at the company, will succeed him. This leadership change follows a thorough succession planning process by the Board of Directors, which is optimistic about the future under Kasel's leadership. Kasel expressed commitment to increasing profitability and shareholder value while continuing the Company’s focus on technology and services in the rail industry.