FSTR - L.B. Foster Shares Are Down Today: What's Going On? | Benzinga
L.B. Foster Company (NASDAQ:FSTR) reported a fourth-quarter FY23 net sales decline of 1.7% to $134.9 million, beating the consensus of $129.4 million.
Net sales increased 7.7% organically and decreased 9.4% due to divestitures.
Rail segment’s revenue fell 10.9% Y/Y to $69.3 million owing to the divestiture of the prestressed concrete railroad tie business. Infrastructure segment’s revenue rose 10.3% Y/Y to $65.6 million, led by both Precast Concrete Products and Steel Products business units.
The company’s new orders totaled $105.5 million in the quarter, down 23.4% Y/Y, while the backlog totaled $213.8 million (-21.5% Y/Y, partly due ...