2023-05-09 08:08:49 ET
- L.B. Foster press release ( NASDAQ: FSTR ): Q1 GAAP EPS of -$0.20 misses by $0.01 .
- Revenue of $115.49M (+16.9% Y/Y) beats by $2.58M .
- Completed sale of Chemtec Precision Measurement Products and Systems business during the quarter, reducing energy market exposure in line with strategic transformation plan.
- First quarter net loss of $2.2 million unfavorable $0.6 million year over year on $2.0 million Chemtec sale loss; first quarter adjusted EBITDA of $4.5 million, up $2.8 million, or 171.6%, year over year.
- Solid cash generation during the quarter with net debt reduction of $11.5 million; Gross Leverage Ratio of 2.4x down from 2.8x at the start of the quarter.
- New orders in the first quarter were $139.5 million, up 3.0% over last year, with a book-to-bill ratio 1 of 1.21 : 1; backlog finished the first quarter at $259.9 million, up 6.2% year over year.
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L.B. Foster GAAP EPS of -$0.20 misses by $0.01, revenue of $115.49M beats by $2.58M