Key Takeaways FSTR extends its revolving credit facility maturity date to June 27, 2030, with improved terms. The amendment raises FSTR's borrowing capacity to $150 million and lowers overall finance costs. FSTR gains more financial flexibility to support growth in Rail Technologies and Precast Concrete platforms.L.B. Foster Company (FSTR) has announced that it entered into a Fifth Amended and Restated Credit Agreement, which includes several key enhancements. This includes, among other things, extending ...

Core Viewpoint - L.B. Foster Company has successfully amended its credit agreement, enhancing its financial flexibility and capacity to support growth initiatives in the rail and infrastructure markets [1][2]. Financial Agreement Details - The company entered into a Fifth Amended and Restated Credit Agreement on June 27, 2025, extending the facility maturity date to June 27, 2030 [1]. - Borrowing capacity increased from $130 million to $150 million, with an additional $60 million incremental loan feature available [5]. - The revised terms include improved pricing and a more accommodating covenant package, reducing restrictions on corporate finance transactions [1][5]. Strategic Implications - The favorable terms of the credit agreement are expected to lower overall financing costs and provide greater flexibility for investments in growth programs and corporate finance initiatives [2][5]. - The company remains optimistic about opportunities in its core growth platforms, specifically Rail Technologies and Precast Concrete [2]. Company Background - Founded in 1902, L.B. Foster Company is a global technology solutions provider for the rail and infrastructure markets, with a focus on innovative engineering and product development [3]. - The company operates in North America, South America, Europe, and Asia, addressing safety, reliability, and performance needs for its customers [3].

L.B. Foster Company Three Part Advisors East Coast IDEAS Presentation June 2025 Nasdaq - FSTR Safe Harbor Disclaimer Safe Harbor Statement This presentation may contain "forward-looking" statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and Section 27A of the Securities Act of 1933, as amended. Forward-looking statements provide management's current expectations of future events based on certain assumptions and include any statement that does not directly relat ...

Summary of L.B. Foster Company (FSTR) FY Conference Call Company Overview - L.B. Foster Company is a technology-based solutions provider for the rail and infrastructure markets, primarily focused on North America with some presence in the UK [2][4] - The company has been in operation for over 120 years, starting as a recycled rail business [4] Business Segments - The company operates in two main segments: Rail Technologies and Services, and Infrastructure Solutions [8] - Rail Technologies revenue is approximately $300 million, while Infrastructure Solutions revenue is about $206 million, totaling over $500 million in revenue [8] Strategic Goals and Performance - Since 2021, the company has undergone a strategic reassessment to improve sales growth, margin expansion, and cash generation [6][7] - Goals set in 2021 aimed for a gross margin of 22% to 23% by 2025, which is currently being achieved [9] - The company has seen a 79% growth in its growth platform businesses over the last three years [17] Financial Performance - Sales increased from $514 million in 2021 to $531 million in 2024, with gross margins improving from 16.8% to 22% [18] - EBITDA has grown to 6.3% of sales, indicating a capital-light business model [20] - Free cash flow generated was $31 million in 2023 and 2024, with expectations for improvement [24] Market Opportunities - The friction management business has significant growth potential, currently only treating 5% of the North American rail network [12] - The precast concrete products segment is identified as a key growth area, with a market that is somewhat fragmented [13][14] - Government funding programs, such as the CRISI grant, are expected to support infrastructure investment, providing a long-term tailwind for the business [31][33] Challenges and Risks - The pipeline coating business has been softer due to a lack of investment in pipelines, but improvements are anticipated with current macro trends [15] - The company faces seasonality in its business, with revenues typically stronger in the second and third quarters [22] Capital Allocation and Shareholder Value - The company has a disciplined approach to capital allocation, focusing on managing debt leverage and investing in growth platforms [28][30] - A stock buyback program has repurchased 5.5% of outstanding shares since its initiation in 2023 [25] Conclusion - L.B. Foster has made significant strides in improving its profitability and positioning itself for future growth, particularly in infrastructure and technology-oriented offerings [36] - The company is viewed as an attractive investment opportunity for those interested in infrastructure spending in the U.S. [40]

Company Announcement - L.B. Foster Company will present at the Three-Part Advisors' East Coast IDEAS Investor Conference on June 12, 2025, at 2:45 PM ET in New York [1] - The presentation will be available via webcast on both the conference host's website and L.B. Foster's Investor Relations page, with a video replay accessible for 90 days [2] Company Overview - Founded in 1902, L.B. Foster Company is a global technology solutions provider for the rail and infrastructure markets [3] - The company focuses on innovative engineering and product development solutions to meet safety, reliability, and performance needs [3] - L.B. Foster maintains locations across North America, South America, Europe, and Asia [3]

PART I. Financial Information [Item 1. Financial Statements](index=4&type=section&id=Item%201.%20Financial%20Statements) Q1 2025 net loss of **$2.1 million**, reversing Q1 2024's **$4.4 million** net income, driven by a **21.3%** sales decrease [Condensed Consolidated Balance Sheets](index=4&type=section&id=Condensed%20Consolidated%20Balance%20Sheets) Total assets increased to **$342.8 million**, liabilities rose to **$171.2 million** driven by long-term debt, and equity decreased Condensed Consolidated Balance Sheet Highlights (in thousands) | Account | March 31, 2025 (Unaudited) | December 31, 2024 | | :--- | :--- | :--- | | **Total Current Assets** | $164,316 | $161,605 | | **Total Assets** | **$342,826** | **$334,550** | | **Total Current Liabilities** | $63,865 | $88,296 | | **Long-Term Debt** | $82,347 | $46,773 | | **Total Liabilities** | $171,231 | $155,536 | | **Total Stockholders' Equity** | $171,595 | $179,014 | [Condensed Consolidated Statements of Operations](index=5&type=section&id=Condensed%20Consolidated%20Statements%20of%20Operations) Q1 2025 net loss of **$2.1 million** (or **$0.20** per share) reversed Q1 2024's **$4.4 million** net income, due to **21.3%** sales decline Q1 2025 vs. Q1 2024 Performance (in thousands, except per share data) | Metric | Q1 2025 | Q1 2024 | | :--- | :--- | :--- | | Total Net Sales | $97,792 | $124,320 | | Gross Profit | $20,151 | $26,176 | | Operating (Loss) Income | $(1,923) | $5,566 | | Net (Loss) Income Attributable to L.B. Foster | $(2,110) | $4,436 | | Diluted (Loss) Earnings Per Share | $(0.20) | $0.40 | [Condensed Consolidated Statements of Cash Flows](index=7&type=section&id=Condensed%20Consolidated%20Statements%20of%20Cash%20Flows) Net cash used in operating activities increased to **$26.1 million** in Q1 2025, while financing activities provided **$28.8 million** Cash Flow Summary (in thousands) | Cash Flow Activity | Three Months Ended March 31, 2025 | Three Months Ended March 31, 2024 | | :--- | :--- | :--- | | Net cash used in operating activities | $(26,136) | $(21,444) | | Net cash (used in) provided by investing activities | $(2,575) | $789 | | Net cash provided by financing activities | $28,820 | $21,298 | | **Net increase in cash and cash equivalents** | **$158** | **$588** | [Notes to Condensed Consolidated Financial Statements](index=9&type=section&id=Notes%20to%20Condensed%20Consolidated%20Financial%20Statements) Notes detail two segments, Rail and Infrastructure, with Rail sales declining; backlog at **$237.2 million**; contingent liability for Portland Harbor - The company operates under two reportable segments: Rail, Technologies, and Services ('Rail') and Infrastructure Solutions ('Infrastructure')[24](index=24&type=chunk)[26](index=26&type=chunk) - As of March 31, 2025, the company's remaining performance obligations (backlog) totaled approximately **$237.2 million**[39](index=39&type=chunk) - The company is a potentially responsible party (PRP) for the Portland Harbor Superfund Site cleanup, with environmental reserves of approximately **$1.8 million** as of March 31, 2025[68](index=68&type=chunk) - The Settlement Agreement with Union Pacific Railroad (UPRR) has been fully paid as of December 31, 2024, and all obligations have been satisfied[66](index=66&type=chunk) [Management's Discussion and Analysis of Financial Condition and Results of Operations](index=23&type=section&id=Management%27s%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Q1 2025 net loss of **$2.1 million** due to **21.3%** sales decrease, mainly in Rail; **$47.2 million** available credit; backlog at **$237.2 million** [Results of Operations](index=24&type=section&id=Results%20of%20Operations) Q1 2025 net sales fell **21.3%** to **$97.8 million**, resulting in a **$1.9 million** operating loss and **$2.1 million** net loss Q1 2025 vs. Q1 2024 Summary (in thousands) | Metric | Q1 2025 | Q1 2024 | Change $ | Change % | | :--- | :--- | :--- | :--- | :--- | | Net sales | $97,792 | $124,320 | $(26,528) | (21.3)% | | Gross profit | $20,151 | $26,176 | $(6,025) | (23.0)% | | Gross profit margin | 20.6% | 21.1% | - | (50) bps | | Operating (loss) income | $(1,923) | $5,566 | $(7,489) | - | | Net (loss) income | $(2,110) | $4,436 | $(6,546) | - | - Selling and administrative expenses decreased by **$1.9 million** (**8.4%**), primarily due to lower personnel and professional services costs[80](index=80&type=chunk) [Segment Analysis](index=25&type=section&id=Segment%20Analysis) Rail segment sales dropped **34.6%** to **$54.0 million**, while Infrastructure sales grew **5.0%** to **$43.8 million**, narrowing its operating loss Rail, Technologies, and Services Segment Performance (in thousands) | Metric | Q1 2025 | Q1 2024 | Change % | | :--- | :--- | :--- | :--- | | Net sales | $54,015 | $82,623 | (34.6)% | | Segment operating income | $144 | $6,778 | (97.9)% | - The Rail segment's sales decrease was primarily due to a **$23.7 million** (**44.7%**) decline in the Rail Products business unit, attributed to the timing of large orders and an exceptionally strong prior year[84](index=84&type=chunk) Infrastructure Solutions Segment Performance (in thousands) | Metric | Q1 2025 | Q1 2024 | Change % | | :--- | :--- | :--- | :--- | | Net sales | $43,777 | $41,697 | 5.0% | | Segment operating loss | $(444) | $(1,388) | (68.0)% | - The Infrastructure segment's sales increase was driven by the Precast Concrete Products business unit, which grew by **$7.1 million** (**33.7%**)[88](index=88&type=chunk) [Liquidity and Capital Resources](index=26&type=section&id=Liquidity%20and%20Capital%20Resources) Liquidity from cash, operations, and **$130 million** credit facility with **$47.2 million** available; total debt increased; **$40 million** share repurchase authorized Available Funding Capacity as of March 31, 2025 (in thousands) | Source | Amount | | :--- | :--- | | Cash and cash equivalents | $2,612 | | Net availability under the revolving credit facility | $47,178 | | **Total available funding capacity** | **$49,790** | - In Q1 2025, the company repurchased **168,911** shares for **$4.3 million** under its authorized programs[103](index=103&type=chunk) - On March 3, 2025, the Board approved a new share repurchase authorization of up to **$40 million** through February 29, 2028[102](index=102&type=chunk) [Backlog](index=29&type=section&id=Backlog) Total company backlog increased **6.7%** year-over-year to **$237.2 million**, with both Rail and Infrastructure segments showing growth Backlog by Segment (in thousands) | Segment | March 31, 2025 | March 31, 2024 | | :--- | :--- | :--- | | Rail, Technologies, and Services | $91,724 | $86,038 | | Infrastructure Solutions | $145,491 | $136,223 | | **Total backlog** | **$237,215** | **$222,261** | [Quantitative and Qualitative Disclosures about Market Risk](index=30&type=section&id=Quantitative%20and%20Qualitative%20Disclosures%20about%20Market%20Risk) This item is not applicable as the company is a smaller reporting company - This item is not applicable to a smaller reporting company[116](index=116&type=chunk) [Controls and Procedures](index=30&type=section&id=Controls%20and%20Procedures) Management concluded disclosure controls were effective; previously reported material weakness related to complex transactions has been remediated - Management concluded that the Company's disclosure controls and procedures were effective as of March 31, 2025[117](index=117&type=chunk) - The material weakness previously disclosed in 2023 and 2024 reports, related to accounting for non-recurring complex transactions, has been remediated as of March 31, 2025[118](index=118&type=chunk)[120](index=120&type=chunk) PART II. Other Information [Legal Proceedings](index=32&type=section&id=Item%201.%20Legal%20Proceedings) Information regarding legal proceedings is detailed in Note 13 of the Notes to Condensed Consolidated Financial Statements - For details on legal proceedings, the report refers to Note 13 of the Notes to Condensed Consolidated Financial Statements[123](index=123&type=chunk) [Risk Factors](index=32&type=section&id=Item%201A.%20Risk%20Factors) This item is not applicable as the company is a smaller reporting company - This item is not applicable to a smaller reporting company[124](index=124&type=chunk) [Unregistered Sales of Equity Securities and Use of Proceeds](index=32&type=section&id=Item%202.%20Unregistered%20Sales%20of%20Equity%20Securities%20and%20Use%20of%20Proceeds) Company repurchased **234,262** shares for **$25.32** average price; new **$40 million** repurchase program authorized through February 2028 - On March 3, 2025, the Board of Directors authorized a new stock repurchase program for up to **$40,000 thousand** of the company's common stock, effective through February 29, 2028[125](index=125&type=chunk) Share Repurchases for Q1 2025 | Period | Total Shares Purchased | Average Price Paid | Shares Purchased as Part of Program | Remaining Authorization (approx. $) | | :--- | :--- | :--- | :--- | :--- | | Jan 2025 | 59,480 | $27.36 | 57,853 | $4,299 | | Feb 2025 | 113,568 | $27.85 | 52,116 | $0 | | Mar 2025 | 61,214 | $21.08 | 58,942 | $38,846 | | **Total** | **234,262** | **$25.32** | **168,911** | **$38,846** | [Other Information](index=32&type=section&id=Item%205.%20Other%20Information) No directors or officers adopted, modified, or terminated Rule 10b5-1 or non-Rule 10b5-1 trading arrangements in Q1 2025 - No directors or officers adopted, modified, or terminated a Rule 10b5-1 trading arrangement or a non-Rule 10b5-1 trading arrangement during the fiscal quarter ended March 31, 2025[129](index=129&type=chunk) [Exhibits](index=33&type=section&id=Item%206.%20Exhibits) This section provides an index of all exhibits filed with the Form 10-Q, including CEO and CFO certifications and XBRL data

For the quarter ended March 2025, L.B. Foster (FSTR) reported revenue of $97.79 million, down 21.3% over the same period last year. EPS came in at -$0.20, compared to $0.08 in the year-ago quarter.The reported revenue represents a surprise of -14.53% over the Zacks Consensus Estimate of $114.41 million. With the consensus EPS estimate being $0.01, the EPS surprise was -2100.00%.While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determ ...

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