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L.B. Foster Company (FSTR) investor relations material
L.B. Foster Company Q3 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 2025 earnings summary3 Nov, 2025
Executive summary
Net sales for Q3 2025 increased 0.6% year-over-year to $138.3M, driven by 4.4% growth in Infrastructure and a 2.2% decline in Rail, with backlog up 18.4% to $247.4M, led by a 58.2% surge in Rail.
Net income for Q3 2025 was $4.4M, down from $35.9M in Q3 2024, which included a $30M tax benefit; adjusted EBITDA fell 7.9% year-over-year to $11.4M.
Operating cash flow reached $29.2M, with strong free cash flow used to reduce net debt to $55.3M and fund $4.7M in share repurchases.
Backlog and new orders rose sharply, supporting expectations for a strong Q4 finish and positive momentum into 2026.
Share repurchases totaled 184,143 shares in Q3 (1.7% of shares), with $32M remaining authorized through February 2028.
Financial highlights
Q3 2025 net sales were $138.3M (+0.6% YoY); year-to-date sales were $379.6M (-5.7% YoY), with Rail down 16.1% and Infrastructure up 11%.
Q3 2025 gross profit was $31.1M (-5.2% YoY); gross margin declined 130 bps to 22.5% due to higher costs and unfavorable mix.
SG&A expenses decreased by $2.2M, with SG&A as a percentage of sales improving 170 bps to 16%.
Q3 2025 operating income was $8.3M (margin 6.0%, up 70 bps YoY); year-to-date adjusted EBITDA was $25.4M, down 3.5% YoY.
Free cash flow for the nine months ended September 30, 2025, was $13.4M, up $15.1M from last year.
Outlook and guidance
Q4 2025 sales expected to be $155M–$165M, a 25% increase, with both segments contributing; adjusted EBITDA projected to rise 115% at the midpoint.
Full-year 2025 guidance: net sales of $535M–$545M, adjusted EBITDA of $40M–$42M, and free cash flow of $15M–$20M.
Revised 2025 guidance implies adjusted EBITDA margins above 8% for the last three quarters.
Free cash flow outlook slightly lower than prior guidance due to rail delivery deferrals, but $17.5M midpoint represents a 6% yield.
Management remains optimistic for a strong Q4 and continued profitability expansion into 2026.
Rail segment: Q4 sales growth drivers?
Infrastructure margins: Q4 improvement plan?
Q4 FCF deployment for leverage target?
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Next L.B. Foster Company earnings date
Sidoti's Year End Virtual Investor Conference10 Dec, 2025
Next L.B. Foster Company earnings date
Sidoti's Year End Virtual Investor Conference10 Dec, 2025
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Frequently asked questions
L.B. Foster Company is an American company that provides products and services for the transportation and construction industries. The company specializes in manufacturing and distributing rail and track components, including rail fastening systems, friction management products, and rail monitoring solutions. In addition to rail infrastructure, L.B. Foster also supplies construction materials such as steel piling, precast concrete products, and coatings. The company serves clients in sectors like railroads, transit, ports, and energy, offering solutions to improve infrastructure reliability and efficiency. The company is headquartered in Pittsburgh, Pennsylvania, and its shares are listed on the Nasdaq.
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