L.B. Foster Q3 gross margin 23.8%, highest in 10+ yrs; adj. EBITDA +16.4% YoY

FOSTER L B CO

2024-Q3 EPS reported $3.91 revenue$402,582,000

Q3 gross margin 23.8% (best in over a decade) on net sales of $137.5M, down 5.4% YoY.
Net income $35.9M (up $35.5M YoY) includes $30.0M tax valuation allowance release; adj EBITDA $12.3M (+16.4%).
Operating cash flow $24.7M; net debt reduced $17.7M to $65.4M; gross leverage 1.9x (down from 2.7x).
Repurchased 126,688 shares (1.2% of outstanding); $8.4M remaining under buyback authorization.
Rail Technologies growth: Global Friction Management +21.2%, Total Track Monitoring +49.1%.

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