L.B. Foster pany(US:FSTR)2024-08-08 11:36Financial Performance - Q2 2024 - Sales decreased by 49% YoY, reaching $1408 million [13] - Gross profit decreased by 54% YoY, amounting to $305 million [13] - Net income attributable to L B Foster Company decreased by 194% YoY, settling at $28 million [13] - New orders decreased by 69% YoY, totaling $1710 million [13] - Backlog decreased by 139% YoY, resulting in $2498 million [13] Financial Performance - Year to Date (YTD) June 30, 2024 - Sales increased by 06% YoY, reaching $2651 million [21] - Gross profit increased by 22% YoY, amounting to $568 million [21] - Net income attributable to L B Foster Company increased significantly by 4281% YoY, settling at $73 million [21] - New orders decreased by 61% YoY, totaling $3034 million [21] - Backlog decreased by 139% YoY, resulting in $2498 million [21] Segment Performance - Q2 2024 - Rail, Technologies, and Services sales decreased by 66% YoY, reaching $856 million [57] - Infrastructure Solutions sales decreased by 22% YoY, amounting to $552 million [57] - Rail, Technologies, and Services gross profit decreased by $20 million, with gross profit margin decreasing by 80 bps [58] - Infrastructure Solutions gross profit increased by $02 million, with gross profit margin increasing by 90 bps [58] Guidance and Outlook - The company updated its 2024 guidance, projecting revenue between $525 million and $550 million, and adjusted EBITDA between $34 million and $37 million [5, 10] - Capital expenditures are expected to be approximately 25% of sales [5] - The company anticipates achieving breakeven free cash flow [5]