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a day ago
- Business
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Q2 Earnings Highs And Lows: L.B. Foster (NASDAQ:FSTR) Vs The Rest Of The General Industrial Machinery Stocks
The end of an earnings season can be a great time to discover new stocks and assess how companies are handling the current business environment. Let's take a look at how L.B. Foster (NASDAQ:FSTR) and the rest of the general industrial machinery stocks fared in Q2. Automation that increases efficiency and connected equipment that collects analyzable data have been trending, creating new demand for general industrial machinery companies. Those who innovate and create digitized solutions can spur sales and speed up replacement cycles, but all general industrial machinery companies are still at the whim of economic cycles. Consumer spending and interest rates, for example, can greatly impact the industrial production that drives demand for these companies' offerings. The 15 general industrial machinery stocks we track reported a satisfactory Q2. As a group, revenues beat analysts' consensus estimates by 2.3% while next quarter's revenue guidance was in line. In light of this news, share prices of the companies have held steady. On average, they are relatively unchanged since the latest earnings results. L.B. Foster (NASDAQ:FSTR) Founded with a $2,500 loan, L.B. Foster (NASDAQ:FSTR) is a provider of products and services for the transportation and energy infrastructure sectors, including rail products, construction materials, and coating solutions. L.B. Foster reported revenues of $143.6 million, up 2% year on year. This print was in line with analysts' expectations, and overall, it was a satisfactory quarter for the company with full-year EBITDA guidance beating analysts' expectations but a significant miss of analysts' EPS estimates. John Kasel, President and Chief Executive Officer, commented, "In line with our expectations, we achieved a strong, broad recovery in our business in the second quarter, with 2.0% organic sales growth delivering 51.4% higher Adjusted EBITDA. The improved results in the quarter were realized primarily in our Infrastructure segment with organic sales up 22.4%, led by 36.0% higher Precast Concrete sales. Rail sales remained soft in the quarter, down 11.2% versus last year. However, Rail backlog increased 42.5% during the quarter and was up 13.9% over last year, which sets a solid foundation for expected robust sales growth in the 2025 second half. We also realized significant operating expense leverage in the quarter, with the SG&A percentage of sales of 15.6% improving 200 bps versus last year. We're very pleased with our team's accomplishments in the quarter and the improving track we're on." Interestingly, the stock is up 6.7% since reporting and currently trades at $23.57. Is now the time to buy L.B. Foster? Access our full analysis of the earnings results here, it's free. Best Q2: Luxfer (NYSE:LXFR) With its magnesium alloys used in the construction of the famous Spirit of St. Louis aircraft, Luxfer (NYSE:LXFR) offers specialized materials, components, and gas containment devices to various industries. Luxfer reported revenues of $104 million, up 4.3% year on year, outperforming analysts' expectations by 5.9%. The business had an incredible quarter with a beat of analysts' EPS estimates and a solid beat of analysts' EBITDA estimates. The market seems content with the results as the stock is up 2% since reporting. It currently trades at $12.59. Is now the time to buy Luxfer? Access our full analysis of the earnings results here, it's free. Weakest Q2: Icahn Enterprises (NASDAQ:IEP) Founded in 1987, Icahn Enterprises (NASDAQ: IEP) is a diversified holding company primarily engaged in investment and asset management across various sectors. Icahn Enterprises reported revenues of $2.32 billion, up 5.3% year on year, falling short of analysts' expectations by 3%. It was a disappointing quarter as it posted a significant miss of analysts' EPS estimates. Icahn Enterprises delivered the weakest performance against analyst estimates in the group. Interestingly, the stock is up 4.8% since the results and currently trades at $9.41. Read our full analysis of Icahn Enterprises's results here. Albany (NYSE:AIN) Founded in 1895, Albany (NYSE:AIN) is a global textiles and materials processing company, specializing in machine clothing for paper mills and engineered composite structures for aerospace and other industries. Albany reported revenues of $311.4 million, down 6.2% year on year. This number topped analysts' expectations by 2.6%. Taking a step back, it was a slower quarter as it produced a significant miss of analysts' adjusted operating income estimates and a significant miss of analysts' EBITDA estimates. The stock is down 10.3% since reporting and currently trades at $63.71. Read our full, actionable report on Albany here, it's free. Crane (NYSE:CR) Based in Connecticut, Crane (NYSE:CR) is a diversified manufacturer of engineered industrial products, including fluid handling, and aerospace technologies. Crane reported revenues of $577.2 million, up 9.2% year on year. This result beat analysts' expectations by 1.2%. It was a strong quarter as it also produced full-year EPS guidance beating analysts' expectations and a beat of analysts' EPS estimates. The stock is flat since reporting and currently trades at $190.98. Read our full, actionable report on Crane here, it's free. Market Update As a result of the Fed's rate hikes in 2022 and 2023, inflation has come down from frothy levels post-pandemic. The general rise in the price of goods and services is trending towards the Fed's 2% goal as of late, which is good news. The higher rates that fought inflation also didn't slow economic activity enough to catalyze a recession. So far, soft landing. This, combined with recent rate cuts (half a percent in September 2024 and a quarter percent in November 2024) have led to strong stock market performance in 2024. The icing on the cake for 2024 returns was Donald Trump's victory in the U.S. Presidential Election in early November, sending major indices to all-time highs in the week following the election. Still, debates around the health of the economy and the impact of potential tariffs and corporate tax cuts remain, leaving much uncertainty around 2025. Want to invest in winners with rock-solid fundamentals? Check out our Top 6 Stocks and add them to your watchlist. These companies are poised for growth regardless of the political or macroeconomic climate. StockStory is growing and hiring equity analyst and marketing roles. Are you a 0 to 1 builder passionate about the markets and AI? See the open roles here.
Globe and Mail
11-08-2025
- Business
- Globe and Mail
L.B. Foster Announces Strong Second Quarter Results with Organic Growth and Profitability Expansion Expected to Continue Through Balance of 2025
Second quarter net income of $2.8 million up 1.3% over last year; Adjusted EBITDA 1 of $12.2 million up 51.4% on 2.0% organic sales growth led by Precast Concrete business unit up 36.0% Robust order rates increased backlog 1 to $269.9 million, up 8.1% over prior year; Rail backlog up 13.9% with recovery of Rail Products, up 28.4%, and growing demand for Global Friction Management, up 22.1% Revised 2025 guidance mid-points assume a 25.1% increase in Adjusted EBITDA versus last year on 2.7% organic sales growth; 2025 second half Adjusted EBITDA anticipated up 42.8% on 14.3% sales growth PITTSBURGH, Aug. 11, 2025 (GLOBE NEWSWIRE) -- L.B. Foster Company (Nasdaq: FSTR), a global technology solutions provider of products and services for the rail and infrastructure markets (the "Company"), today reported its 2025 second quarter operating results. Three Months Ended June 30, Change 2025 2024 2025 vs. 2024 (Unaudited) Net sales $ 143,558 $ 140,796 2.0 % Net income attributable to L.B. Foster Company 2,885 2,847 1.3 % Adjusted EBITDA 1 12,231 8,077 51.4 % Net cash provided by (used in) operating activities 10,402 (4,954) 310.0 % Free cash flow 1 7,729 (7,008) 210.3 % Total debt 81,628 87,173 (6.4)% Gross Leverage Ratio 1 2.2x 2.7x (0.5)x New orders 1 $ 175,756 $ 170,993 2.8 % Backlog 1 $ 269,929 $ 249,805 8.1 % Financial Guidance Update 2025 Full Year Financial Guidance Low High Net sales $ 535,000 $ 555,000 Adjusted EBITDA 1 $ 40,000 $ 44,000 Capital spending as a percent of sales ~2.0% ~2.0% Free cash flow 1 $ 15,000 $ 25,000 CEO Comments John Kasel, President and Chief Executive Officer, commented, "In line with our expectations, we achieved a strong, broad recovery in our business in the second quarter, with 2.0% organic sales growth delivering 51.4% higher Adjusted EBITDA. The improved results in the quarter were realized primarily in our Infrastructure segment with organic sales up 22.4%, led by 36.0% higher Precast Concrete sales. Rail sales remained soft in the quarter, down 11.2% versus last year. However, Rail backlog increased 42.5% during the quarter and was up 13.9% over last year, which sets a solid foundation for expected robust sales growth in the 2025 second half. We also realized significant operating expense leverage in the quarter, with the SG&A percentage of sales of 15.6% improving 200 bps versus last year. We're very pleased with our team's accomplishments in the quarter and the improving track we're on." Mr. Kasel concluded, "We expect strong organic sales growth and profitability improvement to continue in the back half of 2025, led by North American demand recovery for our Rail segment. The increased Rail backlog over last year was driven by improvements in Rail Products, up 28.4%, and Global Friction Management, up 22.1%. These improvements more than offset a 37.9% decline in Technology Services and Solutions backlog driven primarily by our continued right-sizing of the United Kingdom portion of this business, as indicated by the $1.4 million restructuring charge taken in the quarter. The Infrastructure backlog also increased 3.1% over last year, with Precast Concrete up 1.2% and Steel Products up 7.4%, including a 36.8% increase for Protective Coatings. Margin profiles within the backlog continue to improve in line with our strategy, which along with continuing SG&A constraints should translate into expanding profitability through year end. Gross leverage per our recently-amended and extended revolving credit facility improved to 2.2x at quarter end, down from 2.5x in the first quarter and 2.7x last year. We anticipate $41 million in free cash flow in the second half of 2025 based on the mid-point of our guidance and expect to continue our share buy backs and further reduce leverage to a target range of 1.0x - 1.5x by year end. With increased borrowing capacity and flexibility now available, coupled with strong cash generation expected through year end, we're well positioned to continue our strategic playbook execution to drive shareholder returns through the balance of 2025 and beyond." 1 See "Non-GAAP Disclosures" at the end of this press release for a description of and information regarding Adjusted EBITDA, gross leverage ratio per the Company's credit agreement, new orders, backlog, book-to-bill ratio, net debt, free cash flow, and related reconciliations to the comparable United States Generally Accepted Accounting Principles financial measures. Second Quarter 2025 Consolidated Results The Company's second quarter performance highlights are reflected below: Three Months Ended June 30, Change Percent Change 2025 2024 2025 vs. 2024 2025 vs. 2024 (Unaudited) Net sales $ 143,558 $ 140,796 $ 2,762 2.0 % Gross profit 30,900 30,513 387 1.3 Gross profit margin 21.5 % 21.7 % (20) bps (0.9) Selling and administrative expenses $ 22,382 $ 24,818 $ (2,436) (9.8) Selling and administrative expenses as a percent of sales 15.6 % 17.6 % (200) bps (11.3) Amortization expense 840 1,123 (283) (25.2) Operating income $ 7,678 $ 4,572 $ 3,106 67.9 Net income attributable to L.B. Foster Company 2,885 2,847 38 1.3 Adjusted EBITDA 1 12,231 8,077 4,154 51.4 New orders 1 $ 175,756 $ 170,993 $ 4,763 2.8 Backlog 1 $ 269,929 $ 249,805 $ 20,124 8.1 Net sales for the 2025 second quarter increased $2.8 million, or 2.0%, over the prior year quarter. The increase was driven by strong sales growth in the Infrastructure Solutions ("Infrastructure") segment, improving $12.4 million, or 22.4%, over the prior year quarter. Partially offsetting these improvements were sales volume declines in the Rail, Technologies, and Services ("Rail") segment which declined $9.6 million, or 11.2%, from the prior year quarter. Gross profit for the 2025 second quarter increased $0.4 million, or 1.3%, over the prior year quarter. The improvement in gross profit was due to higher sales and improved business mix within Infrastructure, partially offset by $1.1 million of costs related to the Company's decision to exit the United Kingdom ("UK")-based Automation and Materials Handling product line ("AMH Exit"). Gross profit margins declined 20 basis points to 21.5% due to last year's results including a $0.8 million gain realized on the sale of an ancillary property coupled with the $1.1 million AMH Exit costs incurred in the current year. Selling and administrative expenses for the 2025 second quarter decreased $2.4 million, or 9.8%, from the prior year quarter. The decrease was primarily attributed to lower personnel costs and professional services expenditures which decreased $0.9 million and $0.5 million, respectively. Selling and administrative expenses for the 2025 second quarter include $0.3 million in AMH Exit costs and the prior year quarter includes $0.8 million in legal costs associated with a resolved legal matter. Selling and administrative expenses as a percentage of net sales decreased 200 bps to 15.6% in the current quarter. Operating income for the 2025 second quarter improved $3.1 million, or 67.9%, compared to the prior year quarter. The improvement was due to higher gross profit, lower selling and administrative expenses and lower amortization expense. Net income attributable to the Company for the 2025 second quarter was essentially flat compared to the prior year quarter. The Company recorded income tax expense of $3.4 million on pre-tax income of $6.3 million, for an effective income tax rate of 54.8%, compared to an effective rate of 10.9% in the prior year quarter. The Company's effective income tax rate for the 2025 second quarter differed from the federal statutory rate of 21% primarily due to the impact of pre-tax losses in the United Kingdom with a full valuation allowance for which no income tax benefit was recognized. Adjusted EBITDA for the second quarter of 2025 was adjusted for $1.4 million of costs associated with the AMH Exit, while the second quarter of 2024 was adjusted for the $0.8 million gain on the sale of fixed assets and $0.8 million for certain legal expenses. Adjusted EBITDA for the 2025 second quarter increased by $4.2 million, or 51.4%, over the prior year quarter. Cash provided by operating activities totaled $10.4 million in the second quarter of 2025, an increase of $15.4 million over cash used by operating activities of $5.0 million in the prior year quarter. Total debt as of June 30, 2025 was $81.6 million, a $0.9 million decrease during the quarter and a $5.5 million decrease from the prior year quarter. The Company's Gross Leverage Ratio per its credit facility was 2.2x as of June 30, 2025, down from 2.7x last year. New orders for the 2025 second quarter increased $4.8 million, or 2.8%, over the prior year quarter, with the increase realized in the Infrastructure segment. The trailing twelve month book-to-bill ratio 1 was 1.04 : 1.00. Backlog increased $20.1 million, or 8.1%, compared to the prior year quarter, with increases in both the Rail and Infrastructure segments. Second Quarter 2025 Business Results by Segment Three Months Ended June 30, Change Percent Change 2025 2024 2025 vs. 2024 2025 vs. 2024 Net sales $ 75,973 $ 85,594 $ (9,621) (11.2)% Gross profit $ 15,132 $ 17,875 $ (2,743) (15.3) Gross profit margin 19.9 % 20.9 % (100) bps (4.6) Segment operating income $ 3,747 $ 5,501 $ (1,754) (31.9) Segment operating income margin 4.9 % 6.4 % (150) bps (23.3) New orders 1 $ 114,345 $ 116,996 $ (2,651) (2.3) Backlog 1 $ 130,709 $ 114,794 $ 15,915 13.9 Net sales for the 2025 second quarter decreased $9.6 million, or 11.2%, from the prior year quarter. The decline was primarily driven by an $8.7 million decline from lower volumes in the Rail Products business, coupled with lower volumes in our Technology Services and Solutions business with sales declining $3.9 million due to right-sizing initiatives in our UK business and overall commercial softness in the UK market. Partially offsetting these declines was an increase of $3.0 million in Global Friction Management sales. Gross profit for the 2025 second quarter decreased $2.7 million from the prior year quarter, and gross profit margins declined 100 basis points to 19.9%. The gross profit decline was driven primarily by lower sales volumes and $1.1 million of costs associated with the AMH Exit. Segment operating income for the 2025 second quarter decreased $1.8 million from the prior year quarter due primarily to lower gross profit partially offset by a decline in selling and administrative expenses. During the 2025 second quarter AMH Exit costs reduced operating income by $1.4 million. New orders decreased $2.7 million, driven largely by Technology Services and Solutions primarily due to our scaling back the UK business and timing of Global Friction Management orders. Partially offsetting these declines was a 3.1% increase in Rail Products orders. The trailing twelve month book-to-bill ratio was 1.06 : 1.00. Backlog increased $15.9 million over the prior year quarter driven by Rail Products and Global Friction Management, partially offset by a decrease in backlog for Technology Services and Solutions. Infrastructure Solutions Segment Net sales for the 2025 second quarter improved $12.4 million, or 22.4%, over the prior year quarter. Sales increased due to strong sales growth in Precast Concrete Products, which increased $12.2 million, or 36.0% over the prior year quarter. Sales volumes in the Steel Products business unit increased $0.2 million, or 0.7% due to sales volume growth in the Protective Coatings business offset by declines in the bridge forms product line and the exit of the bridge grid deck product line. Gross profit for the 2025 second quarter increased $3.1 million and gross profit margins expanded 40 basis points to 23.3%, driven by higher sales volumes in the Precast Concrete Products and Protective Coatings businesses. Gross profit for the second quarter of 2024 includes a $0.8 million gain realized on the sale of an ancillary property. Segment operating income for the 2025 second quarter improved $3.1 million over the prior year quarter due to improved gross profit levels. Second quarter new orders increased $7.4 million, or 13.7%, over the prior year quarter, due to order growth in the Precast Concrete Products business. The trailing twelve month book-to-bill ratio was 1.02 : 1.00. Backlog was up $4.2 million, or 3.1%, over the prior year quarter, including a $7.9 million increase, or 36.8%, in backlog for the Protective Coatings business. First Six Months Consolidated Highlights Six Months Ended June 30, Change Percent Change 2025 2024 2025 vs. 2024 2025 vs. 2024 (Unaudited) Net sales $ 241,350 $ 265,116 $ (23,766) (9.0)% Gross profit 51,051 56,689 (5,638) (9.9) Gross profit margin 21.2 % 21.4 % (20) bps (0.9) Selling and administrative expenses $ 43,334 $ 47,688 $ (4,354) (9.1) Selling and administrative expenses as a percent of sales 18.0 % 18.0 % 0 bps — (Gain) on sale of former joint venture facility — (3,477) 3,477 100.0 Amortization expense 1,962 2,340 (378) (16.2) Operating income $ 5,755 $ 10,138 $ (4,383) (43.2) Net income attributable to L.B. Foster Company 775 7,283 (6,508) (89.4) Adjusted EBITDA 1 14,053 14,010 43 0.3 New orders 1 $ 324,820 $ 303,378 $ 21,442 7.1 Backlog 1 $ 269,929 $ 249,805 $ 20,124 8.1 Net sales for the first six months of 2025 decreased $23.8 million, or 9.0%, from the prior year period. Rail segment sales volumes declined $38.2 million, or 22.7%, due to an exceptionally strong prior year period and softer demand in the current year for Rail Products, as well as downsizing activities and overall commercial weakness for our UK business. Partially offsetting these declines were higher sales in the Infrastructure segment which improved $14.5 million, or 14.9%, over the prior year period due to strength in Precast Concrete Products, partially offset by the Steel Products business unit. Gross profit for the first six months of 2025 decreased $5.6 million, or 9.9%, from the prior year period and gross profit margins declined 20 basis points to 21.2%. The decline in gross profit was due to lower Rail volumes, AMH Exit costs of $1.1 million in the current period and the $0.8 million prior year gain realized. These impacts were partially offset by gross profit expansion in Infrastructure from improved sales mix. Selling and administrative expenses for the first six months of 2025 decreased $4.4 million, or 9.1%, from the prior year period. The decrease was primarily attributed to lower personnel, professional services and legal costs. Partially offsetting this decline were $0.3 million of costs associated with the AMH Exit. Selling and administrative expenses as a percentage of net sales was unchanged at 18.0%. Operating income for the first six months of 2025 was unfavorable $4.4 million compared to the prior year period. The decline was due to lower gross profit and the prior year gain of $3.5 million on the sale of the former joint venture facility in Magnolia, Texas, partially offset by lower selling and administrative expenses. Net income attributable to the Company for the first six months of 2025 was $6.5 million lower compared to the prior year period due to lower operating income and a higher effective tax rate in the current year. Adjusted EBITDA for the first six months of 2025 was adjusted for $1.4 million of costs associated with the AMH Exit, while the first six months of 2024 was adjusted for a $4.3 million gain on the sales of fixed assets and $0.8 million for certain legal expenses. Adjusted EBITDA for the first six months of 2025 was $14.1 million, essentially flat with the prior year period. Cash used by operating activities totaled $15.7 million for the first six months of 2025, a $10.7 million improvement compared to cash used by operating activities of $26.4 million in the prior year period. New orders for the first six months of 2025 increased $21.4 million, or 7.1%, over the prior year period, with the increase realized in the Infrastructure segment. Second Quarter Conference Call L.B. Foster Company will conduct a conference call and webcast to discuss its second quarter 2025 operating results on Monday, August 11, 2025 at 8:30 AM ET. The call will be hosted by Mr. John Kasel, President and Chief Executive Officer. Listen via audio and access the slide presentation on the L.B. Foster website: under the Investor Relations page. A conference call replay will be available through August 18, 2025 via webcast through L.B. Foster's Investor Relations page of the company's website. Those interested in participating in the question-and-answer session may register for the call at to receive the dial-in numbers and unique PIN to access the call. The registration link will also be available on the Company's Investor Relations page of its website. About L.B. Foster Company Founded in 1902, L.B. Foster Company is a global technology solutions provider of products and services for the rail and infrastructure markets. The Company's innovative engineering and product development solutions address the safety, reliability, and performance needs of its customers' most challenging requirements. The Company maintains locations in North America, South America, Europe, and Asia. For more information, please visit Non-GAAP Financial Measures This press release contains financial measures that are not calculated and presented in accordance with generally accepted accounting principles in the United States ("GAAP"). These non-GAAP financial measures are provided as additional information for investors. The presentation of this additional information is not meant to be considered in isolation or as a substitute for GAAP measures. For definitions of the non-GAAP financial measures used in this press release and reconciliations to the most directly comparable respective GAAP measures, see the 'Non-GAAP Disclosures' section below. The Company has not reconciled the forward-looking adjusted EBITDA and free cash flow to the most directly comparable GAAP measure because this cannot be done without unreasonable effort due to the variability and low visibility with respect to certain costs, the most significant of which are acquisition and divestiture-related costs, impairment expense, and changes in operating assets and liabilities. These underlying expenses and others that may arise during the year are potential adjustments to future earnings. The Company expects the variability of these items to have a potentially unpredictable, and a potentially significant, impact on our future GAAP financial results. The Company believes free cash flow is useful information to investors as it provides insight on cash generated by operations, less capital expenditures, which we believe to be helpful in assessing the Company's long-term ability to pursue growth and investment opportunities as well as service its financing obligations and generate capital for shareholders. Additionally, the Company's annual incentive plans for management provide for the utilization of free cash flow as a metric for measuring cash-generation performance in determining annual variable incentive achievement. The Company defines new orders as a contractual agreement between the Company and a third-party in which the Company will, or has the ability to, satisfy the performance obligations of the promised products or services under the terms of the agreement. The Company defines backlog as contractual commitments to customers for which the Company's performance obligations have not been met, including with respect to new orders and contracts for which the Company has not begun any performance. Management utilizes new orders and backlog to evaluate the health of the industries in which the Company operates, the Company's current and future results of operations and financial prospects, and strategies for business development. The Company believes that new orders and backlog are useful to investors as supplemental metrics by which to measure the Company's current performance and prospective results of operations and financial performance. The Company defines book-to-bill ratio as new orders divided by revenue. The Company believes this is a useful metric to assess supply and demand, including order strength versus order fulfillment. The Company views its Gross Leverage Ratio per its credit agreement, as defined in the Fifth Amended and Restated Credit Agreement dated June 27, 2025, as an important indication of the Company's financial health and believes it is useful to investors as an indicator of the Company's ability to service its existing indebtedness and borrow additional funds for its investing and operational needs. Forward-Looking Statements This release 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 relate to any historical or current fact. Sentences containing words such as 'believe,' 'intend,' 'plan,' 'may,' 'expect,' 'should,' 'could,' 'anticipate,' 'estimate,' 'predict,' 'project,' or their negatives, or other similar expressions of a future or forward-looking nature generally should be considered forward-looking statements. Forward-looking statements in this earnings release are based on management's current expectations and assumptions about future events that involve inherent risks and uncertainties and may concern, among other things, the Company's expectations relating to our strategy, goals, projections, and plans regarding our financial position, liquidity, capital resources, and results of operations and decisions regarding our strategic growth initiatives, market position, and product development. While the Company considers these expectations and assumptions to be reasonable, they are inherently subject to significant business, economic, competitive, regulatory, and other risks and uncertainties, most of which are difficult to predict and many of which are beyond the Company's control. The Company cautions readers that various factors could cause the actual results of the Company to differ materially from those indicated by forward-looking statements. Accordingly, investors should not place undue reliance on forward-looking statements as a prediction of actual results. Among the factors that could cause the actual results to differ materially from those indicated in the forward-looking statements are risks and uncertainties related to: a continuation or worsening of the adverse economic conditions in the markets we serve, including recession, the continued volatility in the prices for oil and gas, tariffs or trade wars, inflation, project delays, and budget shortfalls, or otherwise; volatility in the global capital markets, including interest rate fluctuations, which could adversely affect our ability to access the capital markets on terms that are favorable to us; restrictions on our ability to draw on our credit agreement, including as a result of any future inability to comply with restrictive covenants contained therein; a decrease in freight or transit rail traffic; environmental matters and the impact of environmental regulations, including any costs associated with any remediation and monitoring of such matters; the risk of doing business in international markets, including compliance with anti-corruption and bribery laws, foreign currency fluctuations and inflation, global shipping disruptions, the imposition of increased or new tariffs, and trade restrictions or embargoes, or uncertainties relating to the imposition of tariffs; our ability to effectuate our strategy, including cost reduction initiatives, and our ability to effectively integrate acquired businesses or to divest businesses, and to realize anticipated synergies and benefits; costs of and impacts associated with shareholder activism; the timeliness and availability of materials from our major suppliers, as well as the impact on our access to supplies of customer preferences as to the origin of such supplies, such as customers' concerns about conflict minerals; labor disputes; emerging technologies, including those related to or arising from artificial intelligence, and resultant risks to our business and operations; cybersecurity risks such as data security breaches, malware, ransomware, 'hacking,' and identity theft, which could disrupt our business and may result in misuse or misappropriation of confidential or proprietary information, and could result in the disruption or damage to our systems, increased costs and losses, or an adverse effect to our reputation, business or financial condition; the continuing effectiveness of our ongoing implementation of an enterprise resource planning system; changes in current accounting estimates and their ultimate outcomes; the adequacy of internal and external sources of funds to meet financing needs, including our ability to negotiate any additional necessary amendments to our credit agreement or the terms of any new credit agreement, the Company's ability to manage its working capital requirements and indebtedness; domestic and international taxes, including estimates that may impact taxes; domestic and foreign government regulations, including tariffs; our ability to maintain effective internal controls over financial reporting and disclosure controls and procedures, as well as our ability to reestablish effective disclosure controls and procedures; any change in policy or other change due to the results of the UK's 2024 parliamentary election and the U.S. 2024 Presidential election that could affect UK or U.S. business conditions; other geopolitical conditions, including the ongoing conflicts between Russia and Ukraine, conflicts in the Middle East, and increasing tensions between China and Taiwan; a lack of or delay in state or federal funding for infrastructure projects; an increase in manufacturing or material costs, including volatility in steel prices; the loss of future revenues from current customers; any future global health crises, and the related social, regulatory, and economic impacts and the response thereto by the Company, our employees, our customers, and national, state, or local governments, including any governmental travel restrictions; and risks inherent in litigation and the outcome of litigation and product warranty claims. Should one or more of these risks or uncertainties materialize, or should the assumptions underlying the forward-looking statements prove incorrect, actual outcomes could vary materially from those indicated. Significant risks and uncertainties that may affect the operations, performance, and results of the Company's business and forward-looking statements include, but are not limited to, those set forth under Item 1A, 'Risk Factors,' and elsewhere in our Annual Report on Form 10-K for the year ended December 31, 2024, or as updated and/or amended by our other current or periodic filings with the Securities and Exchange Commission. The forward-looking statements in this release are made as of the date of this release and we assume no obligation to update or revise any forward-looking statement, whether as a result of new information, future developments, or otherwise, except as required by the federal securities laws. Investor Relations: Lisa Durante 412-928-3400, and follow the prompts investors@ L.B. Foster Company 415 Holiday Drive Suite 100 Pittsburgh, PA 15220 L.B. FOSTER COMPANY AND SUBSIDIARIES CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) (In thousands, except per share data) Three Months Ended June 30, Six Months Ended June 30, 2025 2024 2025 2024 Sales of goods $ 129,071 $ 122,417 $ 215,619 $ 226,880 Sales of services 14,487 18,379 25,731 38,236 Total net sales 143,558 140,796 241,350 265,116 Cost of goods sold 98,619 93,715 165,557 175,257 Cost of services sold 14,039 16,568 24,742 33,170 Total cost of sales 112,658 110,283 190,299 208,427 Gross profit 30,900 30,513 51,051 56,689 Selling and administrative expenses 22,382 24,818 43,334 47,688 (Gain) on sale of former joint venture facility — — — (3,477) Amortization expense 840 1,123 1,962 2,340 Operating income 7,678 4,572 5,755 10,138 Interest expense - net 1,490 1,493 2,633 2,618 Other income - net (95) (84) (413) (337) Income before income taxes 6,283 3,163 3,535 7,857 Income tax expense 3,444 346 2,813 635 Net income 2,839 2,817 722 7,222 Net loss attributable to noncontrolling interest (46) (30) (53) (61) Net income attributable to L.B. Foster Company $ 2,885 $ 2,847 $ 775 $ 7,283 Per share data attributable to L.B. Foster shareholders: Basic earnings per common share $ 0.28 $ 0.26 $ 0.07 $ 0.68 Diluted earnings per common share $ 0.27 $ 0.26 $ 0.07 $ 0.66 Average number of common shares outstanding - Basic 10,439 10,793 10,489 10,777 L.B. FOSTER COMPANY AND SUBSIDIARIES CONDENSED CONSOLIDATED BALANCE SHEETS (In thousands) June 30, 2025 December 31, 2024 (Unaudited) ASSETS Current assets: Cash and cash equivalents $ 4,186 $ 2,454 Accounts receivable - net 71,415 64,978 Contract assets - net 12,972 16,720 Inventories - net 75,443 70,506 Other current assets 9,468 6,947 Total current assets 173,484 161,605 Property, plant, and equipment - net 76,305 75,374 Operating lease right-of-use assets - net 23,324 18,480 Other assets: Goodwill 33,315 31,907 Other intangibles - net 12,879 14,801 Deferred tax assets 26,299 28,900 Other assets 4,319 3,483 TOTAL ASSETS $ 349,925 $ 334,550 LIABILITIES AND STOCKHOLDERS' EQUITY Current liabilities: Accounts payable $ 39,888 $ 50,083 Deferred revenue 9,032 10,205 Accrued payroll and employee benefits 7,768 15,393 Current maturities of long-term debt 182 167 Other accrued liabilities 11,741 12,448 Total current liabilities 68,611 88,296 Long-term debt 81,446 46,773 Deferred tax liabilities 1,134 1,150 Long-term operating lease liabilities 19,777 14,709 Other long-term liabilities 3,716 4,608 Stockholders' equity: Common stock 111 111 Paid-in capital 42,325 43,550 Retained earnings 168,354 167,579 Treasury stock (16,213) (11,208) Accumulated other comprehensive loss (20,135) (21,716) Total L.B. Foster Company stockholders' equity 174,442 178,316 Noncontrolling interest 799 698 Total stockholders' equity 175,241 179,014 TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY $ 349,925 $ 334,550 Non-GAAP Disclosures (Unaudited) This earnings release discloses earnings before interest, taxes, depreciation, and amortization ('EBITDA'), adjusted EBITDA, net debt, and free cash flow. The Company believes that EBITDA is useful to investors as a supplemental way to evaluate the ongoing operations of the Company's business since EBITDA may enhance investors' ability to compare historical periods as it adjusts for the impact of financing methods, tax law and strategy changes, and depreciation and amortization. In addition, EBITDA is a financial measure that management and the Company's Board of Directors use in their financial and operational decision-making and in the determination of certain compensation programs. Adjusted EBITDA adjusts for certain charges to EBITDA from continuing operations that the Company believes are unusual, non-recurring, unpredictable, or non-cash. In the three and six months ended June 30, 2025, the Company made adjustments to exclude the AMH Exit costs. In the three and six months ended June 30, 2024, the Company made adjustments to exclude the gain on an asset sale and a legal settlement. The Company believes the results adjusted to exclude these items are useful to investors as these items are non-routine in nature. The Company views net debt, which is total debt less cash and cash equivalents, as an important metric of the operational and financial health of the organization and believes it is useful to investors as indicators of its ability to incur additional debt and to service its existing debt. Non-GAAP financial measures are not a substitute for GAAP financial results and should only be considered in conjunction with the Company's financial information that is presented in accordance with GAAP. The following tables present quantitative reconciliations of EBITDA, adjusted EBITDA, net debt, and free cash flow (in thousands, except for percentages and ratios): Three Months Ended June 30, Six Months Ended June 30, 2025 2024 2025 2024 Adjusted EBITDA Reconciliation Net income, as reported $ 2,839 $ 2,817 $ 722 $ 7,222 Interest expense - net 1,490 1,493 2,633 2,618 Income tax expense 3,444 346 2,813 635 Depreciation expense 2,267 2,362 4,572 4,736 Amortization expense 840 1,123 1,962 2,340 Total EBITDA $ 10,880 $ 8,141 $ 12,702 $ 17,551 AMH Exit Costs 1,351 — 1,351 — Gain on asset sale — (815) — (4,292) Legal expense — 751 — 751 Adjusted EBITDA $ 12,231 $ 8,077 $ 14,053 $ 14,010
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10-08-2025
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L.B. Foster Earnings: What To Look For From FSTR
Railway infrastructure company L.B. Foster (NASDAQ:FSTR) will be announcing earnings results this Monday before market hours. Here's what to look for. L.B. Foster missed analysts' revenue expectations by 14.5% last quarter, reporting revenues of $97.79 million, down 21.3% year on year. It was a mixed quarter for the company, with full-year EBITDA guidance exceeding analysts' expectations but a significant miss of analysts' EBITDA estimates. Is L.B. Foster a buy or sell going into earnings? Read our full analysis here, it's free. This quarter, analysts are expecting L.B. Foster's revenue to grow 2.5% year on year to $144.3 million, a reversal from the 4.9% decrease it recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.52 per share. The majority of analysts covering the company have reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. L.B. Foster has missed Wall Street's revenue estimates three times over the last two years. Looking at L.B. Foster's peers in the general industrial machinery segment, some have already reported their Q2 results, giving us a hint as to what we can expect. Luxfer delivered year-on-year revenue growth of 4.3%, beating analysts' expectations by 5.9%, and GE Aerospace reported revenues up 23.4%, topping estimates by 6.5%. Luxfer's stock price was unchanged after the resultswhile GE Aerospace was down 1.1%. Read our full analysis of Luxfer's results here and GE Aerospace's results here. Investors in the general industrial machinery segment have had steady hands going into earnings, with share prices flat over the last month. L.B. Foster is down 8.1% during the same time and is heading into earnings with an average analyst price target of $29 (compared to the current share price of $22.24). When a company has more cash than it knows what to do with, buying back its own shares can make a lot of sense–as long as the price is right. Luckily, we've found one, a low-priced stock that is gushing free cash flow AND buying back shares. Click here to claim your Special Free Report on a fallen angel growth story that is already recovering from a setback. StockStory is growing and hiring equity analyst and marketing roles. Are you a 0 to 1 builder passionate about the markets and AI? See the open roles here. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
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04-08-2025
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L.B. Foster Company to Report Second Quarter 2025 Results on August 11, 2025
PITTSBURGH, Aug. 04, 2025 (GLOBE NEWSWIRE) -- L.B. Foster Company (Nasdaq: FSTR, the 'Company'), today announced that it will release its second quarter results, pre-market opening on Monday, August 11, 2025. L.B. Foster will host a conference call to discuss its operating results, market outlook, and developments in the business that morning at 8:30 A.M. Eastern Time. A presentation will be available on the Company's website under the Investor Relations page immediately after the Company's earnings release. The conference call will be webcast live through L.B. Foster's Investor Relations page of the Company's website ( The webcast is listen-only. A webcast replay will be available through August 18, 2025, on L.B. Foster's Investor Relations page. Those interested in participating in the question-and-answer session may register for the call here ( to receive the dial in numbers and a unique PIN to access the call. The registration link will also be available on the Company's Investor Relations page of its website. It is recommended that you join 10 minutes prior to the event start (although you may register and dial in at any time during the call). About L.B. Foster CompanyFounded in 1902, L.B. Foster Company is a global technology solutions provider of products and services for the rail and infrastructure markets. The Company's innovative engineering and product development solutions address the safety, reliability, and performance needs of its customers' most challenging requirements. The Company maintains locations in North America, South America, Europe, and Asia. For more information, please visit Investor Relations:Lisa Durante412-928-3400, and follow the promptsinvestors@ L.B. Foster Company415 Holiday DriveSuite 100Pittsburgh, PA 15220Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
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01-07-2025
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L.B. Foster Increases Borrowing Capacity & Extends Maturity Date
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 the maturity date to June 27, 2030, increasing the borrowing capacity to $150 million, improving pricing and providing a more accommodating covenant package with fewer corporate finance transaction restrictions. The Credit Agreement can be used for working capital financing, capital expenditures, letters of credit, approved acquisitions and general company purposes. The agreed-upon terms lower L.B. Foster's overall finance costs and significantly lessen constraints while boosting borrowing capacity, all of which were essential objectives of the amendment. The favorable terms agreed upon underscore the company's efforts to improve its profitability and growth profile in accordance with its playbook. The company remains optimistic about the tremendous prospects in its major growth platforms of Rail Technologies and Precast Concrete, and this new facility structure provides the flexibility and capacity required to continue its journey. L.B. Foster's five-bank syndicate is led by PNC Bank, N.A., as Administrative Agent, with Bank of America, N.A., Citizens Bank, N.A. and Wells Fargo Bank, N.A. serving as Co-Syndication Agents, and Dollar Bank and Federal Savings Bank as participants. Shares of FSTR have gained 7.3% over the past year against a 29.3% decline of its industry. Image Source: Zacks Investment Research FSTR currently carries a Zacks Rank #3 (Hold).Better-ranked stocks in the basic materials space include Carpenter Technology Corporation CRS, Centrus Energy Corp. LEU and Avino Silver & Gold Mines Ltd. Technology currently carries a Zacks Rank #1 (Strong Buy). CRS beat the Zacks Consensus Estimate in each of the last four quarters, with the average earnings surprise being 11.1%. The company's shares have soared 157.7% in the past year. You can see the complete list of today's Zacks #1 Rank stocks Zacks Consensus Estimate for Centrus Energy's current-year earnings is pegged at 71 cents. LEU, carrying a Zacks Rank #1, surpassed the Zacks Consensus Estimate in three of the trailing four quarters, while missing once, with an average earnings surprise of 272.7%. The company's shares have rallied 333.9% in the past Silver, which currently carries a Zacks Rank #1, beat the consensus estimate in each of the trailing four quarters. In this time frame, it delivered an earnings surprise of roughly 104.1%, on average. ASM's shares have rallied 271.5% in the past year. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Carpenter Technology Corporation (CRS) : Free Stock Analysis Report L.B. Foster Company (FSTR) : Free Stock Analysis Report Avino Silver (ASM) : Free Stock Analysis Report Centrus Energy Corp. (LEU) : Free Stock Analysis Report This article originally published on Zacks Investment Research ( Zacks Investment Research Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
