From GlobeNewswire: 2025-03-04 08:00:00

L.B. Foster Company reported improved gross margins in the fourth quarter and full year of 2024, with net sales down 5.0% and 2.4%, respectively. The company saw a net loss of $0.3 million in Q4, with adjusted EBITDA of $7.2 million. Cash flow from operations for the year was $22.6 million, with a decrease in total debt to $46.9 million.

The company’s Board of Directors authorized a new $40 million stock repurchase program. Full year 2025 financial guidance includes net sales of $540-580 million, adjusted EBITDA of $42-48 million, and free cash flow of $20-30 million. The company remains optimistic about growth prospects, despite a decline in backlog and softer start to 2025.

In the fourth quarter of 2024, L.B. Foster Company saw a decrease in net sales, primarily due to lower volumes in the Steel Products business unit. Gross profit remained flat, with a 100 basis point improvement in gross profit margin. Operating income improved to $3.1 million, and adjusted EBITDA increased by $1.1 million.

For the full year 2024, the company reported decreased net sales due to divestitures and product line exits, while gross profit increased by $6.0 million. Operating income improved to $20.5 million, with net income attributable to the company at $42.9 million. Adjusted EBITDA for the year was $33.6 million, a $1.8 million increase over the prior year.

L.B. Foster Company uses non-GAAP financial measures to provide additional information to investors. Adjusted EBITDA for Q4 2024 was $7.2 million, while net debt decreased to $44.5 million. Free cash flow for the year was $12.8 million. The company also disclosed organic sales growth, net debt, and other financial metrics to supplement GAAP results.



Read more at GlobeNewswire:: L.B. Foster Company Ends 2024 with Continuing Profitability