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L.B. Foster Company
L.B. Foster Company (FSTR) investor relations material
L.B. Foster Company Q4 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q4 2025 earnings summary3 Mar, 2026
Executive summary
Q4 2025 net sales reached $160.4 million, up 25.1% year-over-year, marking the highest Q4 sales since 2018, with both rail and infrastructure segments contributing significantly and strong North American demand.
Full-year 2025 net sales were $540 million, up 1.7% year-over-year, with infrastructure sales up 14.9% and rail sales down 6.5% due to U.S. government funding impacts and UK challenges.
Adjusted EBITDA for 2025 was $39.1 million, up $5.5 million year-over-year, with Q4 Adjusted EBITDA up 89% to $13.7 million.
Q4 net income was $2.4 million, a $2.7 million improvement year-over-year; full-year net income was $7.5 million, down due to a prior-year $31.9 million tax benefit.
Operating cash flow for 2025 was $35.6 million, with $22.2 million generated in Q4, supporting significant debt reduction.
Financial highlights
Q4 gross profit was $31.6 million, up 10.6% year-over-year, but gross margin declined 260 bps to 19.7% due to weaker rail margins and UK restructuring.
Q4 SG&A expenses decreased by $1.3 million (5.2%), improving as a percentage of sales by 470 bps to 14.4%.
Q4 operating income rose 156.7% year-over-year to $7.8 million.
Full-year gross profit was $113.8 million, down $4.3 million year-over-year; gross margin fell 110 bps to 21.1%.
Full-year SG&A was $88.6 million, down $7.8 million year-over-year, at 16.4% of sales.
Outlook and guidance
2026 net sales are expected to range from $540 million to $580 million, with Adjusted EBITDA between $41 million and $46 million.
Free cash flow for 2026 is projected between $15 million and $25 million, with CapEx targeted at 2.7% of sales, mainly for Precast Concrete investments.
Backlog up 15% in the first two months of 2026, with strong gains in both rail and infrastructure.
Rail segment expected to return to growth in 2026, supported by active federal funding and robust bidding activity.
Company plans to expand investments in Rail Technologies and Precast Concrete growth platforms.
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Latest events from L.B. Foster Company
- Q2 2024 sales declined 4.9% as Rail softened, but Infrastructure margins improved on property gains.FSTR
Q2 20242 Feb 2026 - Transformation drives higher margins and strong free cash flow outlook for 2025.FSTRSidoti Micro-Cap Virtual Conference2 Feb 2026
- Margin gains and organic growth drive progress toward ambitious 2025 financial targets.FSTRThe 14th Annual East Coast IDEAS Conference1 Feb 2026
- Strategic transformation and technology innovation drive strong cash flow and growth.FSTR15th Annual Midwest IDEAS Investor Conference22 Jan 2026
- Transformation and organic growth drive strong margins and 2024–2025 profit outlook.FSTRSingular Research Autumn Equinox 202421 Jan 2026
- Gross margin hit 23.8% and net income soared, with strong cash flow and improved outlook.FSTRQ3 202415 Jan 2026
- Profitability, margins, and cash flow improved in 2024, with strong 2025 growth guidance.FSTRQ4 202426 Dec 2025
- Sales dropped 21.3% and net loss hit $2.1M, but backlog rose and guidance is maintained.FSTRQ1 202523 Dec 2025
- Transformation complete, growth accelerating in rail tech and infrastructure with strong cash flow.FSTRSidoti Small-Cap Virtual Conference18 Dec 2025
Next L.B. Foster Company earnings date
Sidoti March Small-Cap Virtual Conference19 Mar, 2026
L.B. Foster Company
Next L.B. Foster Company earnings date
Sidoti March Small-Cap Virtual Conference19 Mar, 2026
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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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