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L.B. Foster Reports First Quarter Operating Results
May 03, 2021 16:33 ET | Source: L.B. Foster Company L.B. Foster Company Pittsburgh, Pennsylvania, UNITED STATES
PITTSBURGH, May 03, 2021 (GLOBE NEWSWIRE) L.B. Foster Company (NASDAQ: FSTR), a leading provider of products and services for the rail industry and solutions to support critical infrastructure projects, today reported its first quarter of 2021 operating results, which included the following performance highlights:
First quarter of 2021 net sales were $116.1 million, a decrease of $5.8 million, or 4.8%, from the prior year quarter.
First quarter of 2021 gross profit was $18.8 million, a decline of $4.3 million, or 18.6%, from the prior year quarter. Gross profit margin was 16.2% for the first quarter of 2021 versus 19.0% in the prior year quarter.
Company Profile
L.B. Foster Co is a US-based firm engaged in the manufacturing, fabrication, and distribution of products and services, especially for the rail, construction, energy and utility industry. The company operates its business through two segments: Rail Technologies and Services; and Infrastructure Solutions. Its principal business activity involves providing new and used rail, trackwork, and accessories, producing concrete railroad ties, insulated rail joints, power rail, track fasteners, coverboards, and sales of sells and rents steel sheet piling, H-bearing pile, and other piling products for foundation and earth retention requirements. It generates the majority of its revenues from the Rail Products and Services segment.