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Overview of L.B. Foster Company
L.B. Foster Company (NASDAQ: FSTR) is a U.S.-based industrial firm with over a century of expertise in providing critical materials and services for infrastructure development. Operating globally, the company specializes in manufacturing, fabricating, and distributing products that cater to the rail, construction, and energy industries. Its diverse offerings play a pivotal role in enabling the construction, maintenance, and enhancement of essential infrastructure, including transportation networks, energy systems, and large-scale construction projects.
Core Business Segments
L.B. Foster’s operations are organized into three primary segments, each addressing distinct market needs:
- Rail Technologies and Services: This segment focuses on providing solutions for rail transportation systems, including new and used rail, trackwork, insulated rail joints, and track fasteners. It also offers advanced technologies such as power rail systems and rail measurement services, ensuring operational efficiency and safety for rail networks worldwide.
- Precast Concrete Products: Leveraging its expertise in concrete manufacturing, L.B. Foster produces precast concrete railroad ties and other structural components. These products are integral to both transportation infrastructure and general construction applications, offering durability and precision.
- Steel Products and Measurement: This segment provides steel sheet piling, H-bearing pile, and other steel-based solutions for foundation and earth retention projects. Additionally, it offers measurement systems for energy applications, ensuring accuracy and reliability in critical operations.
Industry Context and Market Position
L.B. Foster operates at the intersection of multiple industries, including transportation, construction, and energy. Its products and services address the growing demand for resilient infrastructure, driven by urbanization, energy transitions, and the modernization of transportation systems. The company’s contributions to landmark projects like the Panama Canal and Brooklyn Bridge underscore its market significance and engineering expertise.
In a competitive landscape, L.B. Foster differentiates itself through its integrated approach, combining manufacturing, engineering, and distribution capabilities. Strategic alliances with leading engineering firms further enhance its ability to deliver comprehensive solutions tailored to customer needs.
Commitment to Quality and Innovation
With a strong emphasis on quality and safety, L.B. Foster maintains rigorous programs to enhance product standards and operational processes. Its focus on innovation ensures that its offerings align with evolving industry requirements, supporting long-term infrastructure reliability and efficiency.
Global Reach and Distribution
L.B. Foster’s global footprint includes engineering, manufacturing, and distribution facilities that enable it to serve diverse markets effectively. By combining localized expertise with international reach, the company ensures timely delivery and support for complex infrastructure projects worldwide.
Conclusion
L.B. Foster Company is a cornerstone of the infrastructure supply chain, providing specialized products and services that address critical needs across rail, construction, and energy sectors. Its legacy of innovation, commitment to quality, and strategic market positioning make it a key player in enabling the development and maintenance of essential infrastructure systems.
L.B. Foster Company (NASDAQ: FSTR) announced the release of its fourth quarter and full year 2020 operating results, set for March 2, 2021, after market close. A conference call discussing these results, market outlook, and business developments will take place at 5:00 p.m. ET on the same day. Participants can join via telephone or webcast through the company's Investor Relations page. A replay of the conference call will be available until March 9, 2021. L.B. Foster specializes in rail industry solutions and critical infrastructure projects, with operations in North America, Europe, and Asia.
L.B. Foster Company (NASDAQ: FSTR) has appointed William (Bill) M. Thalman as Senior Vice President and Chief Financial Officer, effective March 1, 2021. Thalman brings extensive experience from Kennametal, where he held various senior roles, enhancing financial performance and business transformation. His leadership aligns with the company's focus on improving performance and adapting to market changes. CEO Robert P. Bauer highlighted Thalman's unique skills as a valuable addition to the management team during this critical period.
L.B. Foster Company (NASDAQ: FSTR) announced a consolidation of its global business segment reporting structure to enhance growth strategies. The Company will now operate under two segments: Rail Technologies & Services and Infrastructure Solutions. The Rail segment focuses on developing technology for improved efficiency and safety. Meanwhile, Infrastructure Solutions aims to capitalize on anticipated infrastructure investments by offering customized solutions for complex projects. These organizational changes will not affect the Company’s product portfolio and will be reflected in future financial reports.
L.B. Foster Company (NASDAQ: FSTR) will present at three investor conferences in November 2020. The first presentation is scheduled for the Singular Research call on November 11 at 12:00 PM ET. The second presentation will take place at the Baird 2020 Global Industrial Conference on November 12 at 10:15 AM ET. Lastly, a pre-recorded presentation for the Three Part Advisors Southwest IDEAS Conference will be available on demand starting November 18 at 8:00 AM ET. Webcast links and materials will be accessible on the L.B. Foster website.
L.B. Foster Company (NASDAQ: FSTR) reported its Q3 2020 results, revealing net income from continuing operations of $16.6 million ($1.56 per diluted share), up from $3.8 million from the previous year. Adjusted net income stood at $1.0 million ($0.09 per diluted share). However, net sales dropped 18.3% to $118.4 million, with the Tubular and Energy segment experiencing a 44.9% decline. A noteworthy backlog increase of 21.7% to $235.2 million occurred, driven by Rail and Construction segments. Despite challenges from COVID-19, the company reduced net debt to $39.8 million.
L.B. Foster Company (NASDAQ: FSTR) is set to release its third quarter operating results on November 4, 2020, after market close. A conference call will follow at 5:00 p.m. Eastern Time on the same day, discussing the results, market outlook, and business developments. Participants can join via telephone or webcast through the Investor Relations page. A replay of the conference call will be available until November 11, 2020, with details provided for access.
L.B. Foster Company (NASDAQ: FSTR) will hold a conference call on September 28, 2020, at 4:00 p.m. ET to discuss the sale of its IOS Test & Inspection Services Business. A presentation will be accessible on the Investor Relations page of the company’s website prior to the call. Participants can join by phone at (833) 614-1392 for U.S. & Canada or (914) 987-7113 for international calls. A replay will be available until October 5, 2020, via (855) 859-2056 (U.S. & Canada) and (404) 537-3406 (International), using access code 2761937.
L.B. Foster Company (NASDAQ: FSTR) announced that CEO Robert Bauer and Corporate Controller James Kempton will present at the Singular Research Compelling Values Webcall on September 17, 2020, at 10:30 AM ET. This virtual event will feature a live video webcast along with presentation slides. A replay will be accessible for 30 days post-event. Interested parties can find the registration link and presentation materials on the L.B. Foster website under Investor Relations.
L.B. Foster Company (NASDAQ: FSTR) has completed the sale of its upstream oil and gas IOS Test and Inspection Services business for $4 million in cash, with an anticipated $9 million cash tax refund in 2021. The Test and Inspection Services generated revenues of approximately $11.1 million and a gross loss of $2.6 million for the first half of 2020. The divestiture reduces the company’s exposure to the volatile upstream energy market and focuses on midstream pipeline applications. The company plans an investor call on September 28, 2020, to discuss this transaction.
L.B. Foster Company (NASDAQ: FSTR) reported second-quarter 2020 results with net income of $0.5 million, down from $9.6 million year-over-year. Net sales fell by 27.5% to $145.8 million, affected by significant weakness in the energy sector due to the COVID-19 pandemic. Adjusted net income was $4.4 million, while gross profit dropped 27.1%. Despite a 15.7% decrease in new orders to $138.3 million, backlog increased by 7.9% to $225.9 million. The company anticipates continued challenges in the Tubular and Energy segment and expects to leverage its strong balance sheet for stability.
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