Financial Performance - Full year 2023 net sales reached $543.7 million, a 9.3% increase over the prior year, with organic growth of 11.7%[5] - Fourth quarter net sales were $134.9 million, down 1.7% year over year, but up 7.7% organically[5] - Full year 2023 adjusted EBITDA was $31.8 million, an increase of $7.6 million over the prior year, exceeding guidance by $0.8 million[5] - Fourth quarter adjusted EBITDA was $6.1 million, a decrease of $1.4 million year over year, primarily due to higher selling and administrative expenses[5] - Gross profit for the full year 2023 was $112.8 million, an increase of $23.2 million or 25.9%, with gross profit margin expanding by 270 basis points to 20.7%[15] - Gross profit for Q4 2023 was $29.043 million, representing a gross margin of 21.5%, compared to $26.774 million in Q4 2022[28] - Adjusted EBITDA for Q4 2023 was $6,099 million, down from $7,478 million in Q4 2022, reflecting a margin of 4.5% compared to 5.5% in the prior year[37] - The adjusted EBITDA for the year ended December 31, 2023, was $31,775 million, up from $24,179 million in 2022, indicating improved operational efficiency[37] Orders and Backlog - New orders in the fourth quarter totaled $105.5 million, a decrease of 23.4% year over year, with a backlog of $213.8 million[5] - New orders for the full year totaled $529.0 million, a decrease of 4.2% from the prior year, while backlog decreased by $58.5 million or 21.5%[15] - New orders in the Rail segment decreased by $13.5 million, or 18.3%, with a backlog of $84.4 million, down $20.8 million or 19.8% from the prior year[11] - New orders in the Infrastructure segment decreased by $18.8 million, or 29.3%, with a backlog of $129.4 million, down $37.6 million or 22.5% from the prior year[12] - New orders for Q4 2023 totaled 105,509, a decrease of 23.4% compared to 137,827 in Q4 2022, with organic new orders down by 15.6%[38] Segment Performance - The Infrastructure Solutions segment achieved organic sales growth of 23.1% with gross profit margin expanding to 24.0%[6] - Net sales for the fourth quarter of 2023 in the Rail segment were $69.3 million, a decrease of $8.4 million or 10.9% compared to the prior year, primarily due to the divestiture of the prestressed concrete railroad tie business[11] - In the Infrastructure segment, net sales for Q4 2023 were $65.6 million, an increase of $6.1 million or 10.3% over the prior year, driven by Precast Concrete Products and Steel Products[14] - Gross profit for the Infrastructure segment in Q4 2023 was $15.7 million, an increase of $6.9 million or 77.8%, with gross profit margin rising by 910 basis points to 24.0%[14] - Infrastructure sales increased by 10.3% in Q4 2023, reaching $65,583 million, while rail sales decreased by 10.9% to $69,294 million[38] Debt and Cash Flow - Net debt decreased by $36.3 million in 2023, finishing at $52.7 million, with gross leverage improving from 2.8x to 1.7x[5] - Cash flow from operations for the fourth quarter was $22.1 million, a $13.8 million increase over the prior year quarter[9] - Total debt decreased to $55,273 million as of December 31, 2023, down from $91,879 million in the previous year[37] - The company reported a net debt of $52,713 million as of December 31, 2023, compared to $88,997 million in 2022[37] Loss and Earnings - Operating profit for the year ended December 31, 2023, was $10.138 million, a significant recovery from an operating loss of $7.206 million in 2022[28] - Net loss attributable to L.B. Foster Company for Q4 2023 was $430,000, compared to a net loss of $43.931 million in Q4 2022[28] - The company reported a basic loss per share of $0.04 for Q4 2023, an improvement from a loss of $4.09 per share in Q4 2022[28] - Net loss for Q4 2023 was $(470) million, a significant improvement from a loss of $(43,962) million in Q4 2022[37] Strategic Actions - The company completed four acquisitions and three divestitures in 2023 as part of its strategic transformation plan[8] - The company made adjustments to exclude expenses related to the exit of the bridge grid deck product line and restructuring costs for the year ended December 31, 2023[32] - The company views net debt as an important metric, with total debt less cash and cash equivalents indicating its operational and financial health[33]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, DC 20549 FORM 10-Q (Mark One) ☒ Quarterly Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 for the quarterly period ended September 30, 2023 Or ☐ Transition Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 (Exact name of registrant as specified in its charter) Pennsylvania 25-1324733 (State of Incorporation) (I. R. S. Employer Identification No.) 415 Holiday Drive, Suite 100, Pittsburgh, Pe ...

L.B. Foster Company Q2 2023 Earnings Presentation Nasdaq -FSTR August 8, 2023 Safe Harbor Disclaimer | --- ...

Financial Data and Key Metrics Changes - Q2 sales reached $148 million, up 12.6% year-over-year, with organic growth at 13.3% [21][32][46] - Adjusted EBITDA was $10.6 million, representing 7.2% of sales, up nearly 73% from last year, marking the highest level since Q2 2020 [26][48] - Gross margins improved by 410 basis points to 21.8% due to higher sales volumes and improved pricing [21][46] Business Line Data and Key Metrics Changes - Rail segment revenues increased by 12% year-over-year to $91.6 million, with 17% organic growth [51] - Precast Concrete segment revenue rose by 43.4% year-over-year, with organic growth of 12.8% [52] - Steel Products and Measurement segment revenues decreased by 13.6% due to the Chemtec divestiture [53] Market Data and Key Metrics Changes - Order rates totaled nearly $184 million for the quarter, with a book-to-bill ratio of 1.24:1, indicating strong demand [45][72] - Rail orders and backlog increased year-over-year, with new orders up 24.8% and backlog up over 6% [40] - The backlog in the Precast Concrete business increased by 28% year-over-year, attributed to the VanHooseCo acquisition [73] Company Strategy and Development Direction - The company is focusing on organic growth programs, particularly in Precast Concrete and Rail Technologies, as primary drivers for profitability [10][60] - Capital allocation priorities include deleveraging while investing in organic growth opportunities, with capital spending expected to be around 1.5% to 2% of sales [60][61] - The company aims to enhance shareholder value through strategic acquisitions and potential stock repurchase programs [61] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the ongoing infrastructure investment super cycle, which is expected to provide strong tailwinds for growth [79] - The company anticipates improvements in free cash flow and further reduction of leverage in the second half of the year [29][58] - Management highlighted the importance of government infrastructure funding as a significant driver for future orders [64] Other Important Information - The company completed 7 strategic portfolio transactions, including 3 acquisitions and 4 divestitures, in a challenging operating environment [20] - Net debt increased by $8.2 million to fund working capital needs, resulting in a gross leverage ratio of 2.5x [27][56] - The divestiture of the CXT Concrete Ties business provided $2.4 million in proceeds, which were used to pay down debt [26] Q&A Session Summary Question: Can you comment on backlog and the potential for price realization? - Management reported a backlog of $290 million, with a good balance between Rail and Precast segments, and noted strong bidding activity [92][93] Question: Can you expand on the rebound in pipeline projects? - Management indicated a much better year ahead compared to pre-COVID levels, with a focus on midstream markets [84] Question: What is driving the rebound in the Coatings section? - Management expressed surprise at the rebound in the Coatings business, anticipating continued growth based on bidding activity [115]

Financial Performance - Net sales for the three months ended June 30, 2023, were $148,034, an increase of 12.6% compared to $131,515 in the prior year quarter[73]. - Gross profit for the same period was $32,252, representing a 38.5% increase from $23,293 in the prior year quarter, with gross profit margins expanding to 21.8%[73][81]. - Operating profit increased by 156.0% to $6,349 from $2,480 in the prior year quarter[73]. - Net income attributable to L.B. Foster Company for the three months ended June 30, 2023, was $3,531, or $0.32 per diluted share, up 75.7% from $2,010, or $0.18 per diluted share, in the prior year quarter[73][85]. - For the six months ended June 30, 2023, net sales reached $263,522, a 14.4% increase compared to the prior year, driven by acquisitions and organic growth[99]. - Gross profit for the same period was $55,543, reflecting a 39.8% increase, with gross profit margins expanding by 380 basis points to 21.1%[100]. Segment Performance - The Rail, Technologies, and Services segment reported net sales of $91,616 for the three months ended June 30, 2023, a 12.0% increase from $81,797 in the prior year quarter[87]. - The Rail, Technologies, and Services segment saw a 24.8% increase in new orders, totaling $23,048, driven by government infrastructure investments[90]. - Precast Concrete Products segment net sales increased by $10,254, or 43.4%, with the VanHooseCo acquisition contributing $7,230, or 30.6% of the increase[92]. - The Steel Products and Measurement segment experienced a 13.6% decline in net sales, down $3,554, primarily due to the divestiture of the Chemtec business[95]. - The Steel Products and Measurement segment's backlog increased by $18,635, or 39.4%, compared to the prior year quarter[116]. Expenses and Taxation - Selling and administrative expenses rose by 26.5% to $24,528, primarily due to increased personnel costs[82]. - Selling and administrative expenses increased by 25.2% to $45,951, influenced by acquisitions and higher personnel costs[101]. - The effective income tax rate for the three months ended June 30, 2023, was 13.9%, down from 29.4% in the prior year quarter[84]. Strategic Initiatives - The Company continues to focus on its strategic transformation into a technology-focused infrastructure solutions provider, enhancing core growth platforms[86]. - The Company is focusing on strategic transformation, reducing commoditized offerings to enhance core growth platforms in Rail Technologies and Precast Concrete[106]. Cash Flow and Capital Management - As of June 30, 2023, the Company had $3,880 in cash and cash equivalents, with total debt of $89,505[126][127]. - Net cash used in operating activities for the six months ended June 30, 2023 was $3,333, a significant improvement from $13,382 in the prior year[120]. - Capital expenditures for the six months ended June 30, 2023 were $1,495, down from $3,048 in the prior year, while divestitures generated a cash inflow of $7,706[121]. - The Company authorized a stock repurchase program of up to $15,000, with 51,241 shares valued at $662 repurchased during the six months ended June 30, 2023[123][124]. - The Company believes its liquidity, supported by cash, operations, and credit facilities, is sufficient to meet its operational needs[128]. Backlog and Orders - Total backlog as of June 30, 2023 was $290,076, an increase from $272,251 as of December 31, 2022[130]. - New orders and backlog for the Precast Concrete Products segment increased by 76.0% and 28.2%, respectively, compared to the prior year quarter[113].

L.B. Foster Company (NASDAQ:FSTR) Q1 2023 Earnings Conference Call May 9, 2023 11:00 AM ET Company Participants Stephanie Listwak - IR Manager John Kasel - President and CEO William Thalman - CFO Conference Call Participants Alex Rygiel - B. Riley Securities Chris Sakai - Singular Research Brett Kearney - Gabelli ETFs Trust Operator Good day, and thank you for standing by. Welcome to L.B. Foster's First Quarter 2023 Earnings Conference Call. At this time, all participants are in a listen-only mode. After th ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, DC 20549 FORM 10-Q (Mark One) ☒ Quarterly Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 for the quarterly period ended March 31, 2023 Or ☐ Transition Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or f ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Mark One) ☒ Annual Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the fiscal year ended December 31, 2022 Or ☐ Transition Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the transition period from to Commission File Number 0-10436 L.B. FOSTER COMPANY (Exact name of registrant as specified in its charter) Pennsylvania 25-1324733 (State of Incorporation) (I.R. ...

L.B. Foster Company (NASDAQ:FSTR) Q4 2022 Earnings Conference Call March 6, 2023 11:00 AM ET Company Participants Stephanie Listwak - Investor Relations Manager John Kasel - President and Chief Executive Officer William Thalman - Chief Financial Officer Conference Call Participants Alex Rygiel - B. Riley Securities Chris Sakai - Singular Research Brett Kearney - Gabelli & Company Operator Good day and thank you for standing by. Welcome to the Q4 2022 L.B. Foster Earnings Conference Call. At this time, all p ...

Financial Performance - Q3 2022 net sales were $130 million, consistent with the previous year[17] - Adjusted EBITDA for Q3 2022 increased by 111% year-over-year to $93 million[5] - The company's backlog as of September 30, 2022, was $2728 million, a 177% increase compared to the previous year[4, 42] - Net debt totaled $94 million, up $679 million year-over-year due to acquisition-related activity[35] Segment Results - Rail, Technologies, and Services segment sales increased by 46% to $774 million in Q3 2022[23, 64] - Precast Concrete Products segment sales increased by 606% to $289 million in Q3 2022[25, 64] - Steel Products and Measurement segment sales decreased by 376% to $238 million in Q3 2022, primarily due to the sale of the Piling business[28, 64] Strategic Initiatives - The company completed the acquisition of VanHooseCo Precast LLC for $522 million[16] - The company completed the sale of the Track Components business for $78 million[16] - The company completed the acquisition of Intelligent Video Ltd and Skratch for $88 million[15]