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 (FSTR) delivers essential infrastructure solutions across rail, construction, and energy sectors worldwide. This news hub provides investors and industry professionals with comprehensive updates on corporate developments, operational milestones, and strategic initiatives.
Access official press releases alongside curated analysis covering earnings reports, product innovations, and strategic partnerships. Our repository ensures timely access to critical updates influencing FSTR's market position and industry leadership in rail technologies and construction materials.
Key content includes announcements related to infrastructure projects, manufacturing advancements, and safety initiatives. Bookmark this page for streamlined tracking of FSTR's contributions to global engineering challenges and evolving market strategies.
L.B. Foster Company (NASDAQ: FSTR) has secured a $14 million contract to supply new roadway decking for the rehabilitation of the north span of the Newburgh-Beacon Bridge. This contract involves the provision of 311,000 square feet of steel grid bridge deck panels manufactured in Bedford, PA. The project aims to ensure efficient installation and long-term performance, building on the company's past involvement in the bridge's south span rehabilitation in 2013.
L.B. Foster Company (NASDAQ: FSTR) reported a net sales decline of 4.8% to $116.1 million for Q1 2021, alongside a gross profit drop of 18.6% to $18.8 million. The gross profit margin fell to 16.2%, and the company recorded a net loss of $1.3 million or $0.12 per diluted share, a decrease from the previous year. Despite these setbacks, the backlog increased by 14.6% to $271.9 million. The company anticipates a 20% sequential increase in sales for Q2 2021, driven by improved market conditions and reduced pandemic disruptions.
L.B. Foster Company (NASDAQ: FSTR) announced it will release its first quarter 2021 operating results after market close on May 3, 2021. A conference call is scheduled for May 4, 2021, at 8:30 a.m. ET to discuss the results, market outlook, and business developments. Presentation materials will be available on the Company’s Investor Relations page post-earnings release. Participants can join via telephone or webcast. A replay of the conference call will be accessible until May 11, 2021, using provided dial-in numbers.
L.B. Foster Company (NASDAQ: FSTR) announced the promotions of Gregory W. Lippard to Senior Vice President of Rail Technologies & Services and William F. Treacy to Senior Vice President of Infrastructure Solutions. These changes follow a business realignment aimed at better supporting growth opportunities in evolving markets. Lippard, a 28-year veteran, will focus on sales and strategy for rail businesses, while Treacy will oversee diverse infrastructure projects. The company believes the new structure will enhance efficiency and market responsiveness.
L.B. Foster Company (NASDAQ: FSTR) reported a challenging fourth quarter for 2020, with net income of $2.3 million, down significantly from $30.2 million the prior year. Adjusted EBITDA also dropped by 36.3% to $6.9 million. Net sales fell by 18.2% to $115.6 million, primarily due to the impact of the COVID-19 pandemic on demand and operations. However, backlog increased by 8.4% to $248.2 million, indicating some resilience in rail and infrastructure segments. Despite challenges in midstream energy markets, the company has reduced net debt to $37.5 million, showcasing a strong balance sheet amidst operational headwinds.
L.B. Foster Company (NASDAQ: FSTR) announced the release of its fourth quarter and full year 2020 operating results, set for March 2, 2021, after market close. A conference call discussing these results, market outlook, and business developments will take place at 5:00 p.m. ET on the same day. Participants can join via telephone or webcast through the company's Investor Relations page. A replay of the conference call will be available until March 9, 2021. L.B. Foster specializes in rail industry solutions and critical infrastructure projects, with operations in North America, Europe, and Asia.
L.B. Foster Company (NASDAQ: FSTR) has appointed William (Bill) M. Thalman as Senior Vice President and Chief Financial Officer, effective March 1, 2021. Thalman brings extensive experience from Kennametal, where he held various senior roles, enhancing financial performance and business transformation. His leadership aligns with the company's focus on improving performance and adapting to market changes. CEO Robert P. Bauer highlighted Thalman's unique skills as a valuable addition to the management team during this critical period.
L.B. Foster Company (NASDAQ: FSTR) announced a consolidation of its global business segment reporting structure to enhance growth strategies. The Company will now operate under two segments: Rail Technologies & Services and Infrastructure Solutions. The Rail segment focuses on developing technology for improved efficiency and safety. Meanwhile, Infrastructure Solutions aims to capitalize on anticipated infrastructure investments by offering customized solutions for complex projects. These organizational changes will not affect the Company’s product portfolio and will be reflected in future financial reports.
L.B. Foster Company (NASDAQ: FSTR) will present at three investor conferences in November 2020. The first presentation is scheduled for the Singular Research call on November 11 at 12:00 PM ET. The second presentation will take place at the Baird 2020 Global Industrial Conference on November 12 at 10:15 AM ET. Lastly, a pre-recorded presentation for the Three Part Advisors Southwest IDEAS Conference will be available on demand starting November 18 at 8:00 AM ET. Webcast links and materials will be accessible on the L.B. Foster website.
L.B. Foster Company (NASDAQ: FSTR) reported its Q3 2020 results, revealing net income from continuing operations of $16.6 million ($1.56 per diluted share), up from $3.8 million from the previous year. Adjusted net income stood at $1.0 million ($0.09 per diluted share). However, net sales dropped 18.3% to $118.4 million, with the Tubular and Energy segment experiencing a 44.9% decline. A noteworthy backlog increase of 21.7% to $235.2 million occurred, driven by Rail and Construction segments. Despite challenges from COVID-19, the company reduced net debt to $39.8 million.
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