L.B. Foster Q3 net sales up 9.9% to $130.1M; adjusted EPS falls to $0.02 from $0.09

FOSTER L B CO

2021-Q3 EPS reported $0.37 revenue$400,655,000

Net income from continuing ops: $2.3M ($0.21 diluted), vs $16.6M ($1.56) prior year which included $15.8M tax benefit.
Adjusted net income from cont ops: $0.2M ($0.02 diluted), down from $1.0M ($0.09) YoY.
Adjusted EBITDA from cont ops: $4.4M, down 40.7% YoY; gross margin fell 150 bps to 17.1%.
New orders (ex-Piling) rose 18.5% YoY to $125.6M; backlog up 9.8% to $228.9M.
Completed divestiture of Piling Products for $33.5M, generating $2.0M net gain; net debt reduced to $26.0M.

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