L.B. Foster pany(US:FSTR)2023-08-13 12:29Financial Performance - Net sales for Q2 2023 were $148 million, up 126% year-over-year (YoY) [10] - Organic growth was 133% [10] - Gross margin expanded by 410 basis points to 218% [10] - Adjusted EBITDA for Q2 2023 was $106 million, up 729% YoY [10] - Net income was $35 million, up 768% YoY, despite a $1 million loss on the Ties divestiture [10] - For the six months ended June 30, 2023, sales were $2635 million, a 144% increase YoY [104] Orders and Backlog - New orders for Q2 2023 were $1837 million, up 299% YoY [10] - The book-to-bill ratio for Q2 2023 was 124:100 [10] - Backlog was $2901 million, up 156% YoY, despite a $55 million decline from the sale of the Ties business [10, 11] Guidance - The company reaffirmed its full-year 2023 net sales guidance of $520 million to $550 million [5, 10] - The company updated its adjusted EBITDA guidance to $28 million to $32 million, previously $27 million to $31 million [5, 10]