Highest-materiality recent filing
L.B. Foster promotes Thalman to COO, Reilly to CFO, Curran to Controller effective June 1, 2026
William Thalman moves from EVP/CFO to EVP/COO; base salary $510k, 75% target bonus, equity grants.
L.B. Foster Q1 net sales $121.1M (+23.9%); net income $1.5M vs loss; reaffirms FY guidance
Net sales $121.1M, up 23.9% YoY; Rail segment sales up 38.4%, Infrastructure up 5.9%.
L.B. Foster Q4 net sales up 25.1% YoY to $160.4M; Adjusted EBITDA rises 89% to $13.7M
Q4 net income $2.4M vs loss of $0.2M last year; full-year net sales $540M (+1.7%).
L.B. Foster Q3 sales up 0.6%, backlog up 18.4%; sees strong Q4 with 115% Adj. EBITDA growth
Sales $138.3M (+0.6%); operating income $8.3M (+13.3%); net income $4.4M (down 87.9% due to prior-year $30M tax benefit).
L.B. Foster Q2 adjusted EBITDA up 51.4% to $12.2M; revises FY2025 guidance higher
Q2 net sales $143.6M (+2.0% YoY); net income $2.9M (+1.3%); adjusted EBITDA $12.2M (+51.4%).
L.B. Foster expands credit facility to $150M, extends maturity to 2030
Borrowing capacity increased from $130M to $150M; incremental $60M loan feature available.
L.B. Foster Q1 net loss $2.1M; sales down 21.3%; maintains 2025 guidance
Net sales $97.8M vs $124.3M in Q1 2024; net loss of $2.1M vs income of $4.4M.
Q4 net sales $128.2M (-5% YoY); net loss $0.2M vs. $0.4M loss a year ago.
L.B. Foster Q3 gross margin 23.8%, highest in 10+ yrs; adj. EBITDA +16.4% YoY
Q3 gross margin 23.8% (best in over a decade) on net sales of $137.5M, down 5.4% YoY.
Audit Committee concluded Q1 and Q2 2024 unaudited financials should no longer be relied upon due to $3.477M gain misclassification.
Q2 net sales $140.8M, down 4.9% YoY; gross profit $30.5M, down 5.4%; net income $2.8M, down 19.4%; adjusted EBITDA $8.1M, down 23.8%
L.B. Foster EVP Treacy to retire; Friedman named CGO; stockholders approve 1.07M share increase
William Treacy, EVP & Chief Growth Officer, retiring June 30; Retirement Agreement includes accelerated vesting of restricted stock and pro-rata PSUs.
L.B. Foster Q1 net sales up 7.6% to $124.3M; adjusted EBITDA up 32.4%; reaffirms FY guidance
Net sales $124.3M (+7.6% YoY); net income $4.4M vs prior year loss; gross margin 21.1% (+90bps).
Full year 2023 net sales $543.7M (+9.3% YoY, +11.7% organic), above guidance; gross margin expanded 270 bps to 20.7%.
Gross profit $28.2M (+22.2% YoY); gross margin 19.4% (+160 bps); adj. gross margin 21.2% (+40 bps).
L.B. Foster revises exit costs up to $4.5-4.8M for bridge grid deck product line exit
Non-cash impairment charges increased to $2.2-2.3M from $1.4-1.5M.
L.B. Foster Q2 sales up 12.6%, gross margin up 410 bps; raises 2023 EBITDA guidance to $28–32M
Q2 net sales $148.0M (+12.6% YoY); gross profit $32.3M (+38.5%); gross margin 21.8% (+410 bps).
Net sales $115.5M (+16.9% YoY); gross margin 20.2% (up 360 bps).
Agreement with 22NW Fund (9.3% owner) appoints Alexander B. Jones as non-voting board observer effective immediately.
Q4 net sales $137.2M (+21.4% YoY); net loss $43.9M ($4.09/diluted) includes $37.9M deferred tax valuation allowance and $8.0M impairment.
L.B. Foster Q3 net loss $2.1M; adjusted EBITDA up 110.8% to $9.3M, backlog at 5-year high
Net loss of $2.1M ($0.20 per diluted share) vs prior-year income of $2.3M ($0.22).
L.B. Foster completes VanHooseCo acquisition; files purchase agreement
Acquisition of VanHooseCo Precast (precast concrete products) closed Aug 12, 2022.
L.B. Foster acquires VanHooseCo Precast assets for $50.5M; expands precast concrete business
Acquired VanHooseCo operating assets for $50.5M in cash, funded through Credit Agreement.
L.B. Foster Q2 net income falls to $2.0M ($0.18 EPS); orders up 2.1% to $141.4M
Net sales $131.5M, down 14.9% YoY largely due to Piling divestiture; adjusted sales down 0.7%.
L.B. Foster Q4 net loss $0.4M vs income $2.3M prior year; FY adj. EPS $0.13 down from $0.98
Q4 net loss from continuing ops $0.4M ($0.03 loss per share) vs net income $2.3M ($0.21) a year ago.
L.B. Foster Q3 net sales up 9.9% to $130.1M; adjusted EPS falls to $0.02 from $0.09
Net income from continuing ops: $2.3M ($0.21 diluted), vs $16.6M ($1.56) prior year which included $15.8M tax benefit.
L.B. Foster completes sale of Piling Products division to J.D. Fields for $24M
Sale proceeds of ~$24M; buyer is J.D. Fields & Company; closing date Sept 24, 2021.
New $130M revolver (up from $115M) matures Aug 13, 2026; incremental feature allows up to $50M additional.
L.B. Foster Q2 net sales up 9.2% YoY to $154.5M; net income $0.27 per diluted share
Q2 net sales $154.5M, +9.2% YoY (+33.1% sequentially); gross profit $26.2M, -7.0% YoY.
L.B. Foster names John F. Kasel CEO as Robert P. Bauer retires; details compensation
John F. Kasel appointed President and CEO, effective July 21, 2021; base salary $550,000.
Mr. Sean M. Reilly currently serves as Controller and Principal Accounting Officer of the Company, and was appointed as the Company’s Senior Vice President and CFO effective on the Effective Date.
Mr. William M. Thalman currently serves as the Company’s Executive Vice President and Chief Financial Officer (“EVP and CFO”), and was appointed the Company’s Executive Vice President and Chief Operating Officer effective on the Effective Date.
Mr. Timothy J. Curran currently serves as Vice President - Tax and Treasury, and was appointed Controller and Principal Accounting Officer effective on the Effective Date.
On May 23, 2024, the Board appointed Mr. Brian H. Friedman as Senior Vice President and Chief Growth Officer, effective July 1, 2024.
Mr. William F. Treacy, Jr., Executive Vice President and Chief Growth Officer of L.B. Foster Company (the “Company”), will retire from the Company effective June 30, 2024
On April 30, 2024, Mr. William F. Treacy, Jr., Executive Vice President and Chief Growth Officer, notified L.B. Foster Company (the “Company”) of his intention to retire from the Company effective June 30, 2024.
Mr. Dirk Jungé, an incumbent member of the Board, will not be standing for reelection to the Board at the 2024 Annual Meeting.
Ms. Suzanne B. Rowland and Mr. Robert S. Purgason informed the Board of Directors (the “Board”) that they intend to retire on December 31, 2022.
Ms. Suzanne B. Rowland and Mr. Robert S. Purgason informed the Board of Directors (the “Board”) that they intend to retire on December 31, 2022.
the Board voted to elect Ms. Janet Lee as an independent director effective January 1, 2023
Mr. William H. Rackoff informed the Board of Directors (the “Board”) that he intended to retire on that same date.
its Board of Directors (the “Board”) appointed Mr. Sean M. Reilly as Controller and principal accounting officer of the Company, with his term commencing effective January 10, 2022
Max materiality 0.75 · Median 0.65 · Most common event earnings