L.B. Foster pany(US:FSTR)2020-11-05 16:39Financial Performance - Q3 2020 sales were $118.4 million, a decrease of 18.3% compared to Q3 2019 sales of $144.8 million[9, 19] - Adjusted EBITDA for Q3 2020 was $7.4 million, a decrease of 20.2% compared to Q3 2019's $9.3 million[9, 19] - Backlog increased by 21.7% to $235.2 million as of September 30, 2020, compared to $193.2 million in the prior year quarter[9, 11, 19] - Net debt decreased by $8 million to $40 million as of September 30, 2020, with an Adjusted Net Leverage Ratio of 1.1x[11] Strategic Actions - Completed the sale of IOS Test and Inspection Services business, receiving $4 million in cash[11] - Anticipate a $9 million cash tax refund within the next year and an incremental $19 million tax benefit to reduce future tax liabilities from the IOS sale[11] Segment Performance - Rail Products and Services new orders increased by 6.6% to $68.5 million in Q3 2020 compared to $64.3 million in Q3 2019[24] - Construction Products new orders increased by 8.3% to $50.3 million in Q3 2020 compared to $46.4 million in Q3 2019[24] - Tubular and Energy new orders decreased by 50.7% to $11.7 million in Q3 2020 compared to $23.9 million in Q3 2019[24] Liquidity and Cash Flow - Total available funding capacity was over $79 million as of September 30, 2020, an $8 million increase over the prior quarter[11] - Free cash flow yield for the last twelve months (LTM) Q3 2020 was 14.8%[34]