L.B. Foster Q3 net loss $2.1M; adjusted EBITDA up 110.8% to $9.3M, backlog at 5-year high

FOSTER L B CO

2022-Q3 EPS reported -$0.16 revenue$360,324,000

Net loss of $2.1M ($0.20 per diluted share) vs prior-year income of $2.3M ($0.22).
Adjusted EBITDA $9.3M up 110.8% YoY; organic sales growth 8.7%, adjusted 11.8% for nonroutine items.
Backlog $272.8M at quarter end, a 5-year high, up 17.7% YoY; new orders $137.3M.
Completed acquisitions of Intelligent Video and VanHooseCo; divested Track Components; net debt $94.0M, leverage 4.7x.
Gross margin adjusted to 20.8% up 370bps; Crossrail settlement reduced sales by $4.0M and gross profit by 240bps.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

FOSTER L B CO reported financial results for third quarter ended September 30, 2022.

Period: third quarter ended September 30, 2022
Result: reported results

Exact text from the filing

On November 8, 2022, L.B. Foster Company (“Company”) issued a press release announcing the Company’s results of operations for the third quarter ended September 30, 2022. A copy of that press release is furnished with this report as Exhibit 99.1.

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FOSTER L B CO filing history →

Source: SEC EDGAR

accession 0000352825-22-000062

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