$FSTR

FOSTER L B CO

CIK:0000352825|SEC Filings

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Total net sales	$ 138,550	$ 143,558	$ 259,694	$ 241,350
Total cost of sales	107,676	112,658	203,124	190,299
Gross profit	30,874	30,900	56,570	51,051
Selling and administrative expenses	24,105	22,382	47,138	43,334
Amortization expense	618	840	1,236	1,962
Operating income	6,151	7,678	8,196	5,755
Interest expense - net	891	1,490	1,742	2,633
Other income - net	(191)	(95)	(408)	(413)
Income before income taxes	5,451	6,283	6,862	3,535
Income tax expense	2,336	3,444	2,255	2,813
Net income	3,115	2,839	4,607	722
Net income (loss) attributable to noncontrolling interest	3	(46)	(5)	(53)
Net income attributable to L.B. Foster Company	$ 3,112	$ 2,885	$ 4,612	$ 775
Per share data attributable to L.B. Foster shareholders:
Basic earnings per common share (in USD per share)	$ 0.30	$ 0.28	$ 0.45	$ 0.07
Diluted earnings per common share (in USD per share)	$ 0.29	$ 0.27	$ 0.44	$ 0.07
Basic weighted average shares outstanding (in shares)	10,343	10,439	10,271	10,489
Diluted weighted average shares outstanding (in shares)	10,608	10,853	10,597	10,945
Sales of goods
Total net sales	$ 117,139	$ 129,071	$ 222,327	$ 215,619
Total cost of sales	90,690	98,619	171,623	165,557
Sales of services
Total net sales	21,411	14,487	37,367	25,731
Total cost of sales	$ 16,986	$ 14,039	$ 31,501	$ 24,742

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income	$ 4,607	$ 722
Adjustments to reconcile net income to cash used in operating activities:
Deferred income taxes	1,553	2,585
Depreciation	4,411	4,572
Amortization	1,236	1,962
Inventory and fixed asset exit costs (Note 2)	1,059	655
Equity in income of nonconsolidated investments	0	(54)
Stock-based compensation	3,263	2,111
Change in operating assets and liabilities:
Accounts receivable	3,746	(5,489)
Contract assets	2,580	4,750
Inventories	(10,590)	(4,892)
Other current assets	(3,281)	(2,549)
Other noncurrent assets	2,272	(4,581)
Accounts payable	(2,467)	(9,981)
Deferred revenue	3,167	(1,410)
Accrued payroll and employee benefits	(1,123)	(7,733)
Other current liabilities	(1,021)	(1,081)
Other long-term liabilities	(1,990)	4,679
Net cash provided by (used in) operating activities	7,422	(15,734)
CASH FLOWS FROM INVESTING ACTIVITIES:
Proceeds from the sale of property, plant, and equipment	0	49
Capital expenditures on property, plant, and equipment	(6,521)	(5,248)
Net cash used in investing activities	(6,521)	(5,199)
CASH FLOWS FROM FINANCING ACTIVITIES:
Repayments of debt	(173,127)	(129,272)
Proceeds from debt	178,398	161,612
Debt issuance costs	0	(706)
Treasury stock acquisitions	(4,263)	(8,384)
Deferred payment for Skratch acquisition	(403)	(782)
Net cash provided by financing activities	605	22,468
Effect of exchange rate changes on cash and cash equivalents	(71)	197
Net increase in cash and cash equivalents	1,435	1,732
Cash and cash equivalents at beginning of period	4,348	2,454
Cash and cash equivalents at end of period	5,783	4,186
Supplemental disclosure of cash flow information:
Interest paid	1,654	2,417
Income taxes paid	$ 1,236	$ 828

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Jun. 30, 2026	Dec. 31, 2025
Current assets:
Cash and cash equivalents	$ 5,783	$ 4,348
Accounts receivable - net (Note 5)	76,579	80,551
Contract assets - net (Note 3)	3,776	6,395
Inventories - net (Note 6)	69,627	60,219
Other current assets	8,225	5,358
Total current assets	163,990	156,871
Property, plant, and equipment - net	79,031	77,183
Operating lease right-of-use assets - net	26,148	28,309
Other assets:
Goodwill (Note 4)	32,738	33,062
Other intangibles - net (Note 4)	10,282	11,526
Deferred tax assets (Note 9)	18,796	20,355
Other assets	3,170	3,066
TOTAL ASSETS	334,155	330,372
Current liabilities:
Accounts payable	49,647	52,519
Deferred revenue (Note 3)	9,033	5,900
Accrued payroll and employee benefits	10,184	11,346
Current maturities of long-term debt (Note 7)	139	153
Other accrued liabilities	12,888	14,003
Total current liabilities	81,891	83,921
Long-term debt (Note 7)	47,854	42,603
Deferred tax liabilities (Note 9)	897	903
Long-term operating lease liabilities	22,329	24,266
Other long-term liabilities	2,274	2,681
Stockholders’ equity:
Common stock, par value $0.01, authorized 20,000,000 shares; shares issued at June 30, 2026 and December 31, 2025, 11,115,779; shares outstanding at June 30, 2026 and December 31, 2025, 10,376,305 and 10,135,410, respectively	111	111
Paid-in capital	39,222	44,782
Retained earnings	179,736	175,124
Treasury stock - at cost, 739,474 and 980,369 common stock shares at June 30, 2026 and December 31, 2025, respectively	(19,292)	(23,852)
Accumulated other comprehensive loss	(21,753)	(20,889)
Total L.B. Foster Company stockholders’ equity	178,024	175,276
Noncontrolling interest	886	722
Total stockholders’ equity	178,910	175,998
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY	$ 334,155	$ 330,372