L.B. Foster Q3 net sales up 11.8% to $145.3M; adj. EBITDA up 14.2%; narrows FY2023 guidance midpoints

FOSTER L B CO

2023-Q3 EPS reported $0.17 revenue$408,867,000

Gross profit $28.2M (+22.2% YoY); gross margin 19.4% (+160 bps); adj. gross margin 21.2% (+40 bps).
Net income $0.5M favorable $2.6M YoY; adj. EBITDA $10.6M (+14.2% YoY).
Net debt reduced $16.9M in Q3 to $68.7M; gross leverage ratio improved to 2.0x from 2.5x prior quarter.
Non-routine items: bridge grid deck exit cost estimate increased to ~$4.6M ($4.1M in Q3); $0.9M UK customer provision.
Backlog $243.2M; TTM book-to-bill 1.03:1.00; FY2023 sales and adj. EBITDA guidance narrowed with midpoints reaffirmed.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.95

FOSTER L B CO reported the third quarter ended September 30, 2023 results: revenue $145.3 million, net income $0.5 million. Guidance reaffirmed.

Period: the third quarter ended September 30, 2023
Revenue: $145.3 million
Net income: $0.5 million
Guidance: reaffirmed
Result: reported results

Exact text from the filing

Foster Third Quarter 2023 Adjusted Results Reflect Ongoing Profitability Improvement and Strong Cash Flow; Reaffirming Midpoints of 2023 Guidance • Third quarter net sales of $145.3 million up 11.8% year over year (10.0% adjusted for non-routine items 1 ). Adjusted organic growth 1 was 12.6% partially offset by portfolio changes of 2.6%. • Gross profit of $28.2

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18 earnings releases filed in the last 30 days. Browse all earnings releases →

FOSTER L B CO filing history →

Source: SEC EDGAR

accession 0000352825-23-000106

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