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L.B. Foster Co. (FSTR) is a distinguished American firm renowned for manufacturing, fabricating, and distributing essential products and services, particularly catering to the rail, construction, energy, and utility sectors. Established more than a century ago, L.B. Foster has played a pivotal role in shaping today's infrastructure by providing materials crucial for the construction and maintenance of various landmark projects, such as the Panama Canal, Brooklyn Bridge, and New Orleans flood walls.
The company operates through three core segments: Rail Technologies and Services, Precast Concrete Products, and Steel Products and Measurement. Within the Rail Technologies and Services segment, L.B. Foster supplies new and used rail, trackwork, and accessories. This segment also produces concrete railroad ties, insulated rail joints, power rail, track fasteners, and cover boards.
The Precast Concrete Products segment focuses on creating high-quality concrete solutions for various infrastructure needs, while the Steel Products and Measurement segment deals in steel sheet piling, H-bearing piles, and other piling products vital for foundation and earth retention projects. These segments oversee engineering, manufacturing, distribution, and sales facilities globally.
Furthermore, L.B. Foster has formed strategic alliances with industry-leading manufacturing and engineering firms, enhancing its role as a distributor and service provider. The company remains dedicated to ongoing programs aimed at boosting product quality, refining operational processes, and ensuring employee safety.
Financially, L.B. Foster generates the majority of its revenues from the Rail Technologies and Services segment, supported by a robust performance in the other two segments. Recent achievements include significant contributions to infrastructure projects and continuous innovations in product offerings.
As part of its mission, L.B. Foster is committed to delivering superior products to its customers and fostering an entrepreneurial environment for its employees. This commitment underlines the company’s enduring legacy and ongoing relevance in the essential sectors it serves.
L.B. Foster Company (Nasdaq: FSTR) reported Q3 2021 results showing a 9.9% increase in net sales to $130.1 million, driven by strong performance in its rail and infrastructure segments. However, gross profit rose only marginally to $22.3 million, resulting in a gross profit margin decline to 17.1%. Net income decreased to $2.3 million from a year-ago $14.6 million. Adjusted EBITDA fell to $4.4 million, a 40.7% drop. New orders increased by 18.5% year-over-year to $125.6 million, indicating strong future backlog growth. The company remains optimistic about upcoming infrastructure investments.
L.B. Foster Company (NASDAQ: FSTR) will release its third quarter 2021 operating results before the market opens on November 2, 2021. A conference call is scheduled for 11:00 a.m. Eastern Time the same day to discuss the results, market outlook, and business developments. Participants can join via telephone or webcast through the Investor Relations page on the company’s website. A replay of the call will be available until November 9, 2021. L.B. Foster provides rail industry products and services, supporting critical infrastructure projects across multiple regions.
L.B. Foster Company (NASDAQ: FSTR) has launched a new service to enhance accessibility for its digital display units used in rail and air travel. This service includes sign language support for Deaf and hard-of-hearing passengers, developed in partnership with Network Rail in the UK. The Inform Media system enables real-time updates and messages, while the display units allow for customizable text for visually impaired users. This initiative is expected to improve passenger experience across North America and Europe.
L.B. Foster Company (NASDAQ: FSTR) announced its participation in the Lytham Partners Fall 2021 Investor Conference, where President and CEO John Kasel, along with CFO Bill Thalman, will present. The presentation is scheduled for October 6, 2021, at 8:45 AM Eastern Time. Interested parties can access a video webcast, presentation slides, and a video replay, which will be available for 90 days on the company’s Investor Relations page. L.B. Foster provides essential products and services for the rail industry and critical infrastructure projects worldwide.
L.B. Foster Company (NASDAQ: FSTR) announced the completion of its sale of the steel Piling Products line to J.D. Fields & Company for approximately $24 million. The divestiture retains all pre-closing receivables and liabilities. The Piling Products division generated $43 million in revenue for the first half of 2021 and $59 million for 2020. CEO John Kasel highlighted that this move will enhance shareholder value by reallocating capital to more profitable areas, particularly Rail Technologies and Precast Concrete, which offer better growth opportunities. An investor call is scheduled for October 4, 2021.
L.B. Foster Company (NASDAQ: FSTR) announced that Bill Thalman, Senior VP and CFO, along with Jim Kempton, Corporate Controller, will present at the Singular Research Compelling Values 2021 Webinar. The presentation is scheduled for 1:00 PM Eastern Time on September 16, 2021. A live video webcast, along with presentation slides and a replay for 14 days, will be available on the Company's website on the day of the event. L.B. Foster provides products and services for the rail industry and critical infrastructure projects across multiple continents.
L.B. Foster Company’s subsidiary, Chemtec Energy Services, has secured a contract with Howard Energy Partners to build five custody transfer metering skids for a renewable diesel production facility in Port Arthur, Texas. This facility, owned by Diamond Green Diesel, aims to produce over 470 million gallons of renewable diesel annually from recycled feedstocks. The project aligns with the growing demand for renewable fuels and positions Chemtec to leverage its expertise in metering systems, enhancing its market presence in the sustainable fuels sector.
L.B. Foster Company (NASDAQ: FSTR) announced a new Fourth Amended and Restated Credit Agreement on August 13, 2021, which extends the facility's maturity to August 13, 2026. The agreement increases borrowing capacity to $130 million and reduces borrowing costs by approximately 200 basis points. This improvement enhances financial flexibility for working capital, capital expenditures, and acquisitions. CEO John Kasel expressed confidence in growth opportunities in the digital railway and infrastructure sectors, supported by this credit facility.
L.B. Foster Company (NASDAQ: FSTR) reported strong Q2 2021 results with net sales of $154.5M, a 33.1% sequential increase and a 9.2% rise year-over-year. Gross profit improved sequentially to $26.2M but declined 7.0% from the prior year. Net income was $2.9M, down $4.1M compared to the previous year. Adjusted EBITDA fell 35.4% to $8.3M. The backlog grew 12.4% to $253.2M, driven by a surge in Infrastructure Solutions, although challenges persist in the Coatings and Measurement unit due to midstream energy market weaknesses. Optimism remains for H2 2021 amid strong order activity.
L.B. Foster Company (NASDAQ: FSTR) announced the release of its second quarter 2021 operating results, scheduled for pre-market on August 3, 2021. A conference call to discuss these results, along with market outlook and business developments, will occur at 11:00 a.m. Eastern Time on the same day. Participants can join via telephone or access the call through the company's Investor Relations page. A replay of the conference call will be available until August 10, 2021. For further details, visit www.lbfoster.com.
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