L.B. Foster rallies 11.3% post Q1 results

|About: L.B. Foster Company (FSTR)|By:, SA News Editor

L.B. Foster (FSTR +11.3%) reports Q1 revenue growth by 22.9% Y/Y to $150.5M.

Rail Products and Services sales increased by 21.8% Y/Y, Construction Products sales increased by 29.2% Y/Y and Tubular and Energy Services sales increased by 19.3% Y/Y.

Gross margin increased 130 bps to 19.4%, was favorably impacted by a 510 and 90 bps improvement within Tubular and Construction segments, respectively.

New orders were $180.3M (+2.5% Y/Y), driven primarily by strong activity within the Tubular segment and, to a lesser extent, Rail segment.

Backlog increased by 13.5% Y/Y to $250.1M.

Net cash provided by operating activities for Q1 totaled $13.5M.

There was a increase in outstanding debt of $15.2M from December 31, 2018 to $90.2M.

“Capex were $1.8M above prior year levels due to the attractive growth and productivity projects underway in the current year.” said Bob Bauer, President and CEO.

Previously: L.B. Foster beats by $0.22, beats on revenue (May. 09 2019)

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