FSTR

EX-99.1

2 ex-991q32026.htm

EX-99.1

Document

Exhibit 99.1

News Release

L.B. Foster Announces Third Quarter Results Reflecting Strong Sales and Profitability Growth; Finishes Quarter with Lowest Debt Level in a Decade

Unless otherwise noted, all comparisons are to the third quarter of 2025.

•Third quarter sales increased 21.5% to $168.0 million; gross profit up $3.4 million or 10.8%

•Third quarter net income grew 56.5% to $6.8 million; Adjusted EBITDA1 up 15.1% to $13.1 million

•First nine months sales increased 12.7% to $427.7 million; gross profit up $8.9 million or 10.8%

•First nine months net income grew 125.4% to $11.4 million; Adjusted EBITDA up 17.6% to $29.9 million

•Generated quarterly operating cash flow of $23.6 million with total debt for the quarter at $28.7 million

•Gross Leverage Ratio1 improved 1.0x turns year over year, ending the quarter at 0.6x

PITTSBURGH, PA, November 4, 2026 – L.B. Foster Company (Nasdaq: FSTR), a global technology solutions provider of products and services for the rail and infrastructure markets (the "Company"), today reported its 2026 third quarter operating results.

Third Quarter 2026 Highlights

Three Months Ended September 30,

Change

202620252026 vs. 2025

$ in thousands, unless otherwise noted: (Unaudited)

Net sales$167,996 $138,286 21.5 %

Operating income10,080 8,295 21.5 %

Net income attributable to L.B. Foster Company6,764 4,354 55.4 %

Adjusted EBITDA13,075 11,359 15.1 %

Net cash provided by operating activities23,553 29,181 (19.3)%

Free Cash Flow1 20,830 26,372 (21.0)%

Total debt28,690 58,722 (51.1)%

Gross Leverage Ratio1 0.6x1.6x(1.0)x

New orders, net1 $155,759 $114,776 35.7 %

Backlog1 $234,741 $247,416 (5.1)%

Financial Guidance

2026 Full Year Financial Guidance UpdateLowHigh

Net sales$570,000 $590,000

Adjusted EBITDA$42,000 $45,000

Capital spending as a percent of sales~2.0 %~2.2 %

Free Cash Flow$20,000 $28,000

CEO Comments

John Kasel, President and Chief Executive Officer, commented, "We started the second half of the year with strong momentum, delivering meaningful growth in sales, profitability, and cash generation during the third quarter. Sales increased 21.5% over the prior year quarter, reflecting strong growth across both segments, while Adjusted EBITDA1 increased 15.1%. Gross profit expanded $3.4 million during the quarter despite a decline in gross margin of 200 bps

1 See "Non-GAAP Disclosures" at the end of this press release for a description of and information regarding EBITDA, Adjusted EBITDA, gross leverage ratio per the Company's credit agreement, new orders, net, backlog, book-to-bill ratio, free cash flow, and related reconciliations to the comparable United States Generally Accepted Accounting Principles financial measures.

to 20.5%. The margin decrease was primarily attributable to business mix within Rail, Technologies, and Services ("Rail"), reflecting stronger sales growth in the lower-margin Rail Distribution and UK businesses. Additionally, selling and administrative expense as a percentage of sales declined 190 bps to 14.1% reflecting continued operating discipline and sales growth. On a year-to-date basis, we are pleased with our sales growth of $48.1 million or 12.7% with growth occurring in both segments. This growth helped drive a $4.5 million, or 17.6%, expansion in Adjusted EBITDA1 over the prior year."

Mr. Kasel continued, "Our third quarter operating cash flow of $23.6 million enabled us to reduce total debt by $19.3 million during the quarter and by $30.0 million compared to the prior year quarter, to the lowest level in over a decade. The continued strengthening of our balance sheet provides additional financial flexibility and positions us well to pursue our strategic growth initiatives. Consistent with that strategy, as reported in our press release dated October 29, 2026, we completed the acquisition of the operating assets of the residential wastewater precast business and the Aeris aerobic treatment systems platform of Dulworth Enterprises Inc. ("Dulworth") on October 28, 2026 for approximately $52.2 million. Our revised guidance assumes no material impact from this acquisition and excludes any impacts of purchase accounting adjustments and transaction-related costs."

Mr. Kasel concluded, "We continue to see healthy customer demand, particularly across our Rail Distribution and UK businesses, driving year-over-year growth in new orders and supporting an increase in our full-year sales outlook. Additionally, we are narrowing our full-year guidance range for Adjusted EBITDA and increasing our Free Cash Flow range to reflect our current business mix and operating conditions. As we enter the final quarter of the year, we remain focused on disciplined execution, cash generation, and integrating Dulworth."

Third Quarter 2026 Consolidated Results

The Company’s third quarter performance highlights are reflected below:

Three Months Ended September 30,ChangePercent Change

202620252026 vs.

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