FOSTER L B (FSTR) Company Report

L.B. Foster reported modest sales growth of 0.6% for Q3 2025, with the infrastructure segment sales increasing by 4.4% while rail revenues declined by 2.2%.
Adjusted EBITDA for Q3 2025 was $11.4 million, a 7.9% decrease year-over-year, and net income declined to $4.4 million.
The company generated $29.2 million in cash from operations during Q3 2025, which helped reduce net debt to $55.3 million and improve the gross leverage ratio to 1.6 times.
L.B. Foster repurchased approximately 184,000 shares in Q3 2025 and ended the quarter with a backlog of $247.4 million, an 18.4% increase over last year, supported by a trailing 12-month book-to-bill ratio of 1.08 to 1.
Management anticipates a strong Q4 2025, projecting 25% sales growth and a 115% increase in adjusted EBITDA at the midpoint, driven by the elevated backlog and deferred rail distribution orders.

Nov 3, 2025, 1:30 PM

Transcript

L.B. Foster Announces Q3 2025 Results and Updates Full-Year Guidance

FSTR

Earnings

Guidance Update

Share Buyback

L.B. Foster reported Q3 2025 net sales of $138.3 million, a 0.6% increase year-over-year, with Adjusted EBITDA decreasing by 7.9% to $11.4 million.
Diluted earnings per share for Q3 2025 were $0.40, an 87.8% decrease year-over-year, primarily due to a $30.0 million tax benefit realized in the prior year.
The company generated $29.2 million in net cash from operations, an increase of $4.4 million year-over-year, and reduced net debt by $10.1 million year-over-year, bringing the Gross Leverage Ratio to 1.6x.
New orders, net, increased by 19.6% year-over-year to $114.8 million, contributing to a backlog of $247.4 million, up 18.4% year-over-year.
L.B. Foster updated its 2025 guidance, projecting net sales between $535 million and $545 million, and Adjusted EBITDA between $40 million and $42 million.

Nov 3, 2025, 1:30 PM

Presentation

L.B. Foster Reports Q3 2025 Sales Growth and Strong Cash Generation, Updates 2025 Guidance

FSTR

Earnings

Guidance Update

Share Buyback

L.B. Foster Company reported net sales of $138.286 million for Q3 2025, a 0.6% increase over the prior year, with Infrastructure sales up 4.4%.
The company generated $26.372 million in Free Cash Flow in Q3 2025, leading to a $22.9 million reduction in total debt during the quarter and lowering the Gross Leverage Ratio to 1.6x.
Backlog increased by 18.4% to $247.4 million year-over-year, primarily driven by a 58.2% increase in Rail backlog.
L.B. Foster updated its 2025 guidance, projecting a 22% increase in Adjusted EBITDA for the full year and anticipating Q4 Adjusted EBITDA to be up 115% on 25% sales growth.
During the quarter, the company deployed $4.7 million to repurchase 184,143 shares.

Nov 3, 2025, 12:38 PM

8-K

L.B. Foster Reports Q3 2025 Results and Updates Full-Year Guidance

FSTR

Earnings

Guidance Update

Share Buyback

L.B. Foster Company reported third quarter 2025 net sales of $138.3 million, a 0.6% increase over the prior year, with Adjusted EBITDA decreasing 7.9% to $11.4 million.
The company's backlog increased 18.4% year-over-year to $247.4 million, driven by a 58.2% increase in the Rail segment.
L.B. Foster generated $26.4 million in free cash flow during the third quarter, reducing its Gross Leverage to 1.6x from 1.9x last year, and deployed $4.7 million to repurchase shares.
The company revised its 2025 full-year guidance, anticipating 2% sales growth and a 22% increase in Adjusted EBITDA at the mid-points, with fourth quarter Adjusted EBITDA expected to be up 115% on 25% sales growth.

Nov 3, 2025, 12:30 PM

Press Release

L.B. Foster Highlights Margin Improvement and Growth Drivers at Small Cap Conference

FSTR

Guidance Update

Revenue Acceleration/Inflection

Share Buyback

L.B. Foster has achieved a 540 basis point improvement in margin since 2021 and reported a 2% organic sales increase year-over-year in the most recent quarter, marking the first such increase in five quarters. The company's EBITDA has grown from 3.6% of sales ($19 million) in 2021 to a trailing 12-month 6.1% of sales ($34 million), with a midpoint guidance of $42 million for the current year.
The company anticipates strong growth in the second half of 2025, projecting 43% backlog growth and 14% organic growth. This growth is expected to be driven by increased government funding, including 30% of IIJA money spent and significant CRISI Grant funding , as well as potential railroad industry consolidation.
L.B. Foster is actively executing a $40 million share repurchase program and aims to reduce its debt/EBITDA leverage from 2.2x to a target range of 1x to 1.5x. The company is currently trading at approximately 8x forward EBITDA with a cash flow yield of around 7%.

Sep 18, 2025, 1:15 PM

Transcript

FSTR Reports Strong Q2 2025 Results and Reaffirms Full-Year Guidance

FSTR

Guidance Update

Revenue Acceleration/Inflection

Share Buyback

FSTR reported strong Q2 2025 results, with net sales up 2.0% year-over-year to $143.6M and Adjusted EBITDA increasing by 51.4% year-over-year. The company's backlog reached $270M, an 8.1% increase year-over-year and 13.8% sequentially, with a Q2 TTM book-to-bill ratio of 1.04:1.00.
The company reaffirmed its 2025 guidance, projecting net sales between $535M and $555M, Adjusted EBITDA between $40M and $44M, and Free Cash Flow between $15M and $25M. Management expects accelerated growth and profitability expansion in H2 2025, with Adjusted EBITDA growth of ~43% and organic sales growth of ~14%.
FSTR's strategic transformation has led to structural improvement in profitability, with TTM Q2 2025 gross margin at 22.1% and Adjusted EBITDA margin at 6.8%. This transformation involved divesting lower-margin businesses and acquiring higher-margin ones.
The company continues its focus on diligent debt management and shareholder returns, with net debt down $6.6M year-over-year to $77.4M in Q2 2025. FSTR has $36.7M remaining under its share repurchase authorization through February 2028.

Sep 18, 2025, 1:15 PM

Presentation

L. B. Foster Co. Reports Strong Q2 2025 Performance and Outlines Strategic Transformation

FSTR

Revenue Acceleration/Inflection

Guidance Update

Share Buyback

L. B. Foster Co. (FSTR) reported a strong Q2 2025, achieving 2% organic top-line growth overall and a 51.4% increase in EBITDA year-over-year, driven by 22.4% growth in its infrastructure business.
The company is undergoing a strategic transformation, shifting towards technology innovation, which has resulted in a 540 basis point improvement in profit margin between 2021 and 2024 and significant growth in segments like total track monitoring (273% growth) and precast (119% growth) since 2021.
Management anticipates continued strong performance in the second half of 2025, projecting $41 million in free cash flow, 43% adjusted EBITDA growth, and 14% organic sales growth, supported by a 36.8% increase in backlog.
L. B. Foster is actively returning capital to shareholders through a $40 million share buyback program and aims to maintain a leverage ratio between 1 and 1.5 times.

Aug 27, 2025, 7:05 PM

Earnings Transcripts

Quarterly earnings call transcripts for FOSTER L B.

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