Precast Concrete Orders Fall 15.4% at L.B. Foster in Second Quarter
Key Facts
L.B. Foster said it will release its third-quarter 2026 results before the market opens on November 4, followed by a call to discuss results, outlook and business developments at 8:30 a.m. Eastern time. The results are due after a quarter in which the company’s sales declined year over year, while net income rose and margins improved. In the Infrastructure Solutions segment, net new orders increased, but orders for precast concrete products fell. That divergence puts concrete performance among the key indicators to watch in the company’s next disclosure. The call will also give management an opportunity to discuss business developments as the company maintains its 2026 financial outlook.
Second-quarter 2026 net sales were $138.550 million, down 3.5% from $143.558 million in the same period of 2025, according to the company’s filing with the U.S. Securities and Exchange Commission. First-half sales moved in the opposite direction, rising 7.6% to $259.694 million from $241.350 million in the first half of 2025. The differing trends across the quarter and first half show that one quarter alone does not capture the sales trajectory over six months. On profitability, net income attributable to L.B. Foster rose to $3.112 million in the second quarter, from $2.885 million a year earlier, a 7.9% year-over-year increase. Net income growth came alongside a decline in quarterly sales compared with the same period a year earlier.
In the Infrastructure Solutions segment, net new orders were $63.869 million in the second quarter, up 4.0% from the second quarter of 2025. But orders for precast concrete products fell 15.4% year over year, according to the same filing. Precast concrete product sales rose 2.1% in the second quarter. The Infrastructure segment’s order backlog stood at $104.718 million on June 30, 2026, down 24.8% from its level on June 30, 2025. The precast concrete order backlog fell 17.1% year over year, highlighting the gap between quarterly product sales growth and declines in new orders and backlog. These segment indicators present a mixed picture for infrastructure business, with total segment net new orders rising while precast concrete orders weakened.
Gross margins improved despite the quarterly sales decline: the company’s margin rose 80 basis points to 22.3% in the second quarter of 2026, according to its filing. Infrastructure segment margin also increased 80 basis points, reaching 24.1%. The results combine a year-over-year decline in net sales with improved net profitability and gross margin. In the second quarter, net income attributable to the company rose 7.9%, while first-half sales grew 7.6% compared with the first half of 2025. These figures provide financial context for the annual guidance the company left unchanged in its filing.
L.B. Foster maintained its 2026 financial outlook at sales of between $540 million and $580 million and adjusted EBITDA of between $41 million and $46 million, according to its filing with the U.S. Securities and Exchange Commission. The chief executive said the order backlog was $246.1 million on June 30, after rising 17.4% during the quarter, attributing the improvement to “strong bidding activity.” He added that bidding activity and opportunity projects support expectations for growth in the remainder of the year. That statement comes alongside a 24.8% year-over-year decline in the Infrastructure segment’s order backlog, which stood at $104.718 million on the same date; the two figures cover different scopes of backlog. The company will release third-quarter results before the market opens on November 4, then discuss them and its outlook and business developments on a call at 8:30 a.m. Eastern time.
Chief Financial Officer Sean Riley outlined a continued focus on evaluating acquisitions that complement the company’s portfolio, with a primary focus on the precast concrete market, during the second-quarter earnings call, according to MarketScreener’s account of the call. That places the market among the areas management said it would focus on when evaluating acquisition opportunities. The company’s shares, FSTR, closed at $36.22 on October 28, 2026, according to EL7 data. Third-quarter results due November 4 will provide the latest financial performance, while the subsequent call will allow discussion of results, outlook and business developments. The information available here did not include documented details on the impact of any acquisition on the company’s outlook.