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 first quarter ended March 31, 2023 results: revenue $115.5 million, net income Net loss of $2.2 million, EPS $0.20 per diluted share. Guidance reaffirmed.
- Period
- first quarter ended March 31, 2023
- Revenue
- $115.5 million
- Net income
- Net loss of $2.2 million
- EPS
- $0.20 per diluted share
- Guidance
- reaffirmed
- Result
- reported results
Exact text from the filing
First Quarter Consolidated Highlights The Company’s first quarter performance highlights are reflected below: Three Months Ended March 31, Change Percent Change 2023 2022 2023 vs. 2022 2023 vs. 2022 (Unaudited) Net sales $ 115,488 $ 98,794 $ 16,694 16.9 % Gross profit 23,291 16,447 6,844 41.6 Selling and administrative expenses 21,423 17,298 4,125 23.8 Operating profit (loss) 503 (2,287) 2,790 122.0 Net loss (2,171) (1,586) (585) (36.9) Adjusted EBITDA 4,482 1,650 2,832 171.6 New orders 139,515 135,405 4,110 3.0 Backlog 259,881 244,618 15,263 6.2 • On March 30, 2023, the Company sold the operating assets of its Chemtec Precision Measurement Products and Systems business for $5.3 million, subject to working capital adjustments, generating a $2.0 million loss on the sale. Chemtec contributed sales of $9.3 million and $21.6 million in the quarter and trailing-twelve months ended March 31, 2023, respectively. • Net sales for the 2023 first quarter were $115.5 million, up $16.7 million, o
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