FOSTER L B CO Files 10-Q for Period Ending March 31, 2024
Ticker: FSTR · Form: 10-Q · Filed: May 7, 2024 · CIK: 352825
Sentiment: neutral
Topics: 10-Q, FOSTER L B CO, FSTR, Financial Report, Quarterly Filing
TL;DR
<b>FOSTER L B CO has filed its Q1 2024 10-Q report.</b>
AI Summary
FOSTER L B CO (FSTR) filed a Quarterly Report (10-Q) with the SEC on May 7, 2024. FOSTER L B CO filed a 10-Q report for the period ending March 31, 2024. The filing covers the first quarter of 2024. The company's fiscal year ends on December 31. FOSTER L B CO is incorporated in Pennsylvania. The company's SIC code is 5051 (Wholesale-Metals Service Centers & Offices).
Why It Matters
For investors and stakeholders tracking FOSTER L B CO, this filing contains several important signals. This 10-Q filing provides investors with the latest financial performance and operational updates for FOSTER L B CO for the first quarter of 2024. The detailed financial information in the 10-Q allows for analysis of the company's revenue, expenses, and overall financial health, aiding investment decisions.
Risk Assessment
Risk Level: low — FOSTER L B CO shows low risk based on this filing. The filing is a standard quarterly report (10-Q) and does not contain any immediately apparent unusual or high-risk disclosures.
Analyst Insight
Review the detailed financial statements and segment performance within the 10-Q to assess the company's current financial health and operational trends.
Key Numbers
- 2024-03-31 — Report Period End Date (CONFORMED PERIOD OF REPORT)
- 2024-05-07 — Filing Date (FILED AS OF DATE)
- 2024-01-01 — Quarter Start Date (2024-01-01)
- 2024-03-31 — Quarter End Date (2024-03-31)
Key Players & Entities
- FOSTER L B CO (company) — FILER
- PA (location) — STATE OF INCORPORATION
- 5051 (other) — STANDARD INDUSTRIAL CLASSIFICATION
- 251324733 (other) — IRS NUMBER
- 415 HOLIDAY DR (address) — BUSINESS ADDRESS
- PITTSBURGH (location) — BUSINESS ADDRESS CITY
- 15220 (other) — BUSINESS ADDRESS ZIP
- 4129283431 (phone) — BUSINESS PHONE
FAQ
When did FOSTER L B CO file this 10-Q?
FOSTER L B CO filed this Quarterly Report (10-Q) with the SEC on May 7, 2024.
What is a 10-Q filing?
A 10-Q is a quarterly financial report with unaudited financials, management discussion, and interim business updates. This particular 10-Q was filed by FOSTER L B CO (FSTR).
Where can I read the original 10-Q filing from FOSTER L B CO?
You can access the original filing directly on the SEC's EDGAR system. The filing is publicly available and includes all exhibits and attachments submitted by FOSTER L B CO.
What are the key takeaways from FOSTER L B CO's 10-Q?
FOSTER L B CO filed this 10-Q on May 7, 2024. Key takeaways: FOSTER L B CO filed a 10-Q report for the period ending March 31, 2024.. The filing covers the first quarter of 2024.. The company's fiscal year ends on December 31..
Is FOSTER L B CO a risky investment based on this filing?
Based on this 10-Q, FOSTER L B CO presents a relatively low-risk profile. The filing is a standard quarterly report (10-Q) and does not contain any immediately apparent unusual or high-risk disclosures.
What should investors do after reading FOSTER L B CO's 10-Q?
Review the detailed financial statements and segment performance within the 10-Q to assess the company's current financial health and operational trends. The overall sentiment from this filing is neutral.
How does FOSTER L B CO compare to its industry peers?
FOSTER L B CO operates in the Wholesale-Metals Service Centers & Offices industry.
Are there regulatory concerns for FOSTER L B CO?
The filing is a standard 10-Q report under the Securities Exchange Act of 1934.
Industry Context
FOSTER L B CO operates in the Wholesale-Metals Service Centers & Offices industry.
Regulatory Implications
The filing is a standard 10-Q report under the Securities Exchange Act of 1934.
What Investors Should Do
- Analyze the financial statements for Q1 2024.
- Examine segment performance for Rail Technologies and Services and Infrastructure Solutions.
- Compare Q1 2024 results to prior periods if available in the full filing.
Year-Over-Year Comparison
This is the initial filing analyzed for the period ending March 31, 2024. Comparative data from previous filings is not available in this extract.
Filing Stats: 4,667 words · 19 min read · ~16 pages · Grade level 16.7 · Accepted 2024-05-07 13:02:16
Key Financial Figures
- $0.01 — ich registered Common Stock, par value $0.01 FSTR NASDAQ Global Select Market Indi
Filing Documents
- fstr-20240331.htm (10-Q) — 965KB
- ex-311q12024.htm (EX-31.1) — 9KB
- ex-312q12024.htm (EX-31.2) — 10KB
- ex-320q12024.htm (EX-32.0) — 7KB
- fstr-20240331_g1.gif (GRAPHIC) — 39KB
- 0000352825-24-000108.txt ( ) — 6035KB
- fstr-20240331.xsd (EX-101.SCH) — 44KB
- fstr-20240331_cal.xml (EX-101.CAL) — 69KB
- fstr-20240331_def.xml (EX-101.DEF) — 207KB
- fstr-20240331_lab.xml (EX-101.LAB) — 561KB
- fstr-20240331_pre.xml (EX-101.PRE) — 401KB
- fstr-20240331_htm.xml (XML) — 770KB
Financial Information
PART I. Financial Information
Financial Statements
Item 1. Financial Statements: Condensed Consolidated Balance Sheets 3 Condensed Consolidated Statements of Operations 4 Condensed Consolidated Statements of Comprehensive Income (Loss) 5 Condensed Consolidated Statements of Cash Flows 6 Condensed Consolidated Statements of Stockholders' Equity 7 Notes to Condensed Consolidated Financial Statements 8
Management's Discussion and Analysis of Financial Condition and Results of Operations
Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations 18
Quantitative and Qualitative Disclosures about Market Risk
Item 3. Quantitative and Qualitative Disclosures about Market Risk 25
Controls and Procedures
Item 4. Controls and Procedures 25
Other Information
PART II. Other Information 26
Legal Proceedings
Item 1. Legal Proceedings 26
Risk Factors
Item 1A. Risk Factors 26
Unregistered Sales of Equity Securities and Use of Proceeds
Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 26
Defaults Upon Senior Securities
Item 3. Defaults Upon Senior Securities 26
Mine Safety Disclosures
Item 4. Mine Safety Disclosures 26
Other Information
Item 5. Other Information 26
Exhibits
Item 6. Exhibits 27 Signature 28 2 Table of Contents
FINANCIAL INFORMATION
Part I. FINANCIAL INFORMATION
Financial Statements
Item 1. Financial Statements L.B. FOSTER COMPANY AND SUBSIDIARIES CONDENSED CONSOLIDATED BALANCE SHEETS (In thousands, except share data) March 31, 2024 December 31, 2023 (Unaudited) ASSETS Current assets: Cash and cash equivalents $ 3,148 $ 2,560 Accounts receivable - net (Note 5) 57,871 53,484 Contract assets - net (Note 3) 24,141 29,489 Inventories - net (Note 6) 85,761 73,496 Other current assets 12,063 8,961 Total current assets 182,984 167,990 Property, plant, and equipment - net 76,133 75,999 Operating lease right-of-use assets - net 14,098 14,905 Other assets: Goodwill (Note 4) 31,995 32,587 Other intangibles - net (Note 4) 18,198 19,010 Other assets 2,993 2,715 TOTAL ASSETS $ 326,401 $ 313,206 LIABILITIES AND STOCKHOLDERS' EQUITY Current liabilities: Accounts payable $ 43,368 $ 40,305 Deferred revenue (Note 3) 11,458 12,479 Accrued payroll and employee benefits 5,340 16,978 Current portion of accrued settlement (Note 13) 8,000 8,000 Current maturities of long-term debt (Note 7) 159 102 Other accrued liabilities 15,856 17,442 Total current liabilities 84,181 95,306 Long-term debt (Note 7) 77,926 55,171 Deferred tax liabilities (Note 9) 1,191 1,232 Long-term operating lease liabilities 11,178 11,865 Other long-term liabilities 6,648 6,797 Stockholders' equity: Common stock, par value $ 0.01 , authorized 20,000,000 shares; shares issued at March 31, 2024 and December 31, 2023, 11,115,779 ; shares outstanding at March 31, 2024 and December 31, 2023, 10,789,231 and 10,733,935 , respectively 111 111 Paid-in capital 41,866 43,111 Retained earnings 129,069 124,633 Treasury stock - at cost, 326,548 and 381,844 common stock shares at March 31, 2024 and December 31, 2023, respectively ( 5,829 ) ( 6,494 ) Accumulated other comprehensive loss ( 20,616 ) ( 19,250 ) Total L.B. Foster Company stockholders' equity 144,601 142,111 Noncontrolling interest 676 724 Total stockholders' equity 145,277 142,835 TOTAL LIABILITIES