L.B. Foster (FSTR) 10-Q 7 Nov 23 2023 Q3 Quarterly report Financial data

Cover

Cover - shares	9 Months Ended
	Sep. 30, 2023	Nov. 01, 2023
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 30, 2023
Document Transition Report	false
Commission File Number	000-10436
Entity Registrant Name	L.B. Foster Company
Entity Incorporation, State or Country Code	PA
Entity Tax Identification Number	25-1324733
Entity Address, Street Name	415 Holiday Drive
Entity Address, Suite	Suite 100
Entity Address, City	Pittsburgh
Entity Address, State	PA
Entity Address, Postal Zip Code	15220
City Area Code	412
Local Phone Number	928-3400
Title of 12(b) Security	Common Stock, par value $0.01
Trading Symbol	FSTR
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding (in shares)		11,076,168
Amendment Flag	false
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	Q3
Entity Central Index Key	0000352825
Current Fiscal Year End Date	--12-31

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Current assets:
Cash and cash equivalents	$ 2,969	$ 2,882
Accounts receivable - net (Note 5)	64,638	82,455
Contract assets - net (Note 3)	30,503	33,613
Inventories - net (Note 6)	82,020	75,721
Other current assets	9,712	11,061
Total current assets	189,842	205,732
Property, plant, and equipment - net	75,867	85,344
Operating lease right-of-use assets - net	15,440	17,291
Other assets:
Goodwill (Note 4)	30,856	30,733
Other intangibles - net (Note 4)	20,006	23,831
Deferred tax assets (Note 9)	0	24
Other assets	2,580	2,355
TOTAL ASSETS	334,591	365,310
Current liabilities:
Accounts payable	44,900	48,782
Deferred revenue	16,003	19,452
Accrued payroll and employee benefits	12,358	10,558
Current portion of accrued settlement (Note 13)	8,000	8,000
Current maturities of long-term debt (Note 7)	97	127
Other accrued liabilities	14,679	16,192
Total current liabilities	96,037	103,111
Long-term debt (Note 7)	71,592	91,752
Deferred tax liabilities (Note 9)	1,131	3,109
Long-term portion of accrued settlement (Note 13)	4,000	8,000
Long-term operating lease liabilities	12,312	14,163
Other long-term liabilities	7,391	7,577
Stockholders’ equity:
Common stock, par value $0.01, authorized 20,000,000 shares; shares issued at September 30, 2023 and December 31, 2022, 11,115,779; shares outstanding at September 30, 2023 and December 31, 2022, 10,804,800 and 10,776,827, respectively	111	111
Paid-in capital	41,832	41,303
Retained earnings	125,063	123,169
Treasury stock - at cost, 310,979 and 338,952 common stock shares at September 30, 2023 and December 31, 2022, respectively	(5,062)	(6,240)
Accumulated other comprehensive loss	(20,123)	(21,165)
Total L.B. Foster Company stockholders’ equity	141,821	137,178
Noncontrolling interest	307	420
Total stockholders’ equity	142,128	137,598
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY	$ 334,591	$ 365,310

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) - $ / shares	Sep. 30, 2023	Dec. 31, 2022
Statement of Financial Position [Abstract]
Common stock, par value (usd per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	20,000,000	20,000,000
Common stock, shares issued (in shares)	11,115,779	11,115,779
Common stock, shares outstanding (in shares)	10,804,800	10,776,827
Treasury stock shares - at cost, common stock (in shares)	310,979	338,952

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Total net sales	$ 145,345	$ 130,015	$ 408,867	$ 360,324
Total cost of sales	117,121	106,918	325,100	297,487
Gross profit	28,224	23,097	83,767	62,837
Selling and administrative expenses	24,160	22,618	70,111	59,310
Amortization expense	1,379	1,599	4,119	4,454
Operating profit (loss)	2,685	(1,120)	9,537	(927)
Interest expense - net	1,442	993	4,404	1,747
Other expense (income) - net	917	168	3,463	(1,096)
Income (loss) before income taxes	326	(2,281)	1,670	(1,578)
Income tax (benefit) expense	(121)	(176)	(99)	137
Net income (loss)	447	(2,105)	1,769	(1,715)
Net loss attributable to noncontrolling interest	(68)	(28)	(125)	(82)
Net income (loss) attributable to L.B. Foster Company	$ 515	$ (2,077)	$ 1,894	$ (1,633)
Basic earnings (loss) per common share (usd per share)	$ 0.05	$ (0.20)	$ 0.18	$ (0.16)
Diluted earnings (loss) per common share (usd per share)	$ 0.05	$ (0.20)	$ 0.17	$ (0.16)
Sales of goods
Total net sales	$ 131,065	$ 117,302	$ 361,770	$ 318,307
Total cost of sales	103,061	93,737	282,195	258,913
Sales of services
Total net sales	14,280	12,713	47,097	42,017
Total cost of sales	$ 14,060	$ 13,181	$ 42,905	$ 38,574

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Comprehensive (Loss) Income - USD ($) $ in Thousands		3 Months Ended		9 Months Ended
		Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Statement of Comprehensive Income [Abstract]
Net income (loss)		$ 447	$ (2,105)	$ 1,769	$ (1,715)
Other comprehensive (loss) income, net of tax:
Foreign currency translation adjustment		(1,651)	(4,341)	852	(8,933)
Unrealized gain on cash flow hedges, net of tax expense of $0, $217, $0, and $455, respectively		1	632	79	1,330
Cash flow hedges reclassified to earnings, net of tax expense of $0, $0, $0, and $66, respectively		0	0	0	93
Reclassification of pension liability adjustments to earnings, net of tax expense of $1, $8, $5, and $40, respectively	[1]	42	50	123	149
Total comprehensive (loss) income		(1,161)	(5,764)	2,823	(9,076)
Less comprehensive (loss) income attributable to noncontrolling interest:
Net loss attributable to noncontrolling interest		(68)	(28)	(125)	(82)
Foreign currency translation adjustment		(21)	(21)	12	3
Amounts attributable to noncontrolling interest		(89)	(49)	(113)	(79)
Comprehensive (loss) income attributable to L.B. Foster Company		$ (1,072)	$ (5,715)	$ 2,936	$ (8,997)
[1]Reclassifications out of “Accumulated other comprehensive loss” for pension obligations are charged to “Selling and administrative expenses” within the Condensed Consolidated Statements of Operations.

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Comprehensive (Loss) Income (Parenthetical) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Statement of Comprehensive Income [Abstract]
Unrealized gain on cash flow hedge, tax	$ 0	$ 217	$ 0	$ 455
Cash flow hedges reclassified to earnings, tax	0	0	0	66
Reclassification of pension liability adjustments to earnings, tax	$ 1	$ 8	$ 5	$ 40

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income (loss)	$ 1,769	$ (1,715)
Adjustments to reconcile net income (loss) to cash used in operating activities:
Deferred income taxes	(1,958)	(962)
Depreciation	7,449	6,083
Amortization	4,119	4,454
Equity in loss (income) of nonconsolidated investments	6	(38)
Gain on sales and disposals of property, plant, and equipment	(366)	(214)
Stock-based compensation	2,757	1,570
Loss (gain) on asset divestitures	3,074	(44)
Change in operating assets and liabilities:
Accounts receivable	15,927	(23,760)
Contract assets	(261)	(1,037)
Inventories	(16,047)	(21,571)
Other current assets	1,108	2,309
Other noncurrent assets	(762)	2,468
Accounts payable	1,201	12,307
Deferred revenue	782	7,493
Accrued payroll and employee benefits	1,809	(417)
Accrued settlement	(4,000)	(4,000)
Other current liabilities	(1,044)	54
Other long-term liabilities	(253)	(1,816)
Net cash provided by (used in) operating activities	15,310	(18,836)
CASH FLOWS FROM INVESTING ACTIVITIES:
Proceeds from the sale of property, plant, and equipment	539	259
Capital expenditures on property, plant, and equipment	(2,784)	(4,559)
Proceeds from business dispositions	7,706	8,800
Acquisitions, net of cash acquired	337	(58,561)
Net cash provided by (used in) investing activities	5,798	(54,061)
CASH FLOWS FROM FINANCING ACTIVITIES:
Repayments of debt	(150,115)	(128,771)
Proceeds from debt	129,853	197,926
Debt issuance costs	0	(182)
Treasury stock acquisitions	(1,193)	(405)
Investment of noncontrolling interest	334	0
Net cash (used in) provided by financing activities	(21,121)	68,568
Effect of exchange rate changes on cash and cash equivalents	100	(1,100)
Net increase (decrease) in cash and cash equivalents	87	(5,429)
Cash and cash equivalents at beginning of period	2,882	10,372
Cash and cash equivalents at end of period	2,969	4,943
Supplemental disclosure of cash flow information:
Interest paid	4,351	1,337
Income taxes received	$ (271)	$ (5,151)

Condensed Consolidated Statem_5

Condensed Consolidated Statements of Stockholders' Equity - USD ($) $ in Thousands	Total	Common Stock	Paid-in Capital	Retained Earnings	Treasury Stock	Accumulated Other Comprehensive Loss	Noncontrolling Interest
Beginning balance at Dec. 31, 2021	$ 183,610	$ 111	$ 43,272	$ 168,733	$ (10,179)	$ (18,845)	$ 518
Increase (Decrease) in Stockholders' Equity
Net income (loss)	(1,715)			(1,633)			(82)
Other comprehensive income, net of tax:
Pension liability adjustment	149					149
Foreign currency translation adjustment	(8,930)					(8,933)	3
Unrealized derivative gain on cash flow hedges	1,330					1,330
Cash flow hedges reclassified to earnings	93					93
Issuance of common shares, net of share withheld for taxes	(406)		(2,234)		1,828
Stock-based compensation	1,570		1,570
Ending balance at Sep. 30, 2022	175,701	111	42,608	167,100	(8,351)	(26,206)	439
Beginning balance at Jun. 30, 2022	181,039	111	42,201	169,177	(8,391)	(22,547)	488
Increase (Decrease) in Stockholders' Equity
Net income (loss)	(2,105)			(2,077)			(28)
Other comprehensive income, net of tax:
Pension liability adjustment	50					50
Foreign currency translation adjustment	(4,362)					(4,341)	(21)
Unrealized derivative gain on cash flow hedges	632					632
Cash flow hedges reclassified to earnings	0
Issuance of common shares, net of share withheld for taxes	60		20		40
Stock-based compensation	387		387
Ending balance at Sep. 30, 2022	175,701	111	42,608	167,100	(8,351)	(26,206)	439
Beginning balance at Dec. 31, 2022	137,598	111	41,303	123,169	(6,240)	(21,165)	420
Increase (Decrease) in Stockholders' Equity
Net income (loss)	1,769			1,894			(125)
Other comprehensive income, net of tax:
Pension liability adjustment	123					123
Foreign currency translation adjustment	852					840	12
Unrealized derivative gain on cash flow hedges	79					79
Cash flow hedges reclassified to earnings	0
Purchase of common shares for treasury	(878)				(878)
Issuance of common shares, net of share withheld for taxes	(172)		(2,228)		2,056
Stock-based compensation	2,757		2,757
Ending balance at Sep. 30, 2023	142,128	111	41,832	125,063	(5,062)	(20,123)	307
Beginning balance at Jun. 30, 2023	142,592	111	40,919	124,548	(4,846)	(18,536)	396
Increase (Decrease) in Stockholders' Equity
Net income (loss)	447			515			(68)
Other comprehensive income, net of tax:
Pension liability adjustment	42					42
Foreign currency translation adjustment	(1,651)					(1,630)	(21)
Unrealized derivative gain on cash flow hedges	1					1
Cash flow hedges reclassified to earnings	0
Purchase of common shares for treasury	(216)				(216)
Issuance of common shares, net of share withheld for taxes	(15)		(15)
Stock-based compensation	928		928
Ending balance at Sep. 30, 2023	$ 142,128	$ 111	$ 41,832	$ 125,063	$ (5,062)	$ (20,123)	$ 307

Condensed Consolidated Statem_6

Condensed Consolidated Statements of Stockholders' Equity (Parenthetical) - shares	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Statement of Stockholders' Equity [Abstract]
Purchase of common shares for treasury (in shares)	12,102		63,343
Common shares issues net of shares withheld (in shares)	0	605	91,316	61,212

Financial Statements

Financial Statements	9 Months Ended
	Sep. 30, 2023
Accounting Policies [Abstract]
Financial Statements	Financial StatementsBasis of PresentationThe accompanying unaudited Condensed Consolidated Financial Statements have been prepared in accordance with accounting principles generally accepted in the United States (“GAAP”) for interim financial information and with the instructions to Form 10-Q and Article 8 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by GAAP for complete financial statements. The year-end consolidated balance sheet data was derived from audited financial statements, but does not include all disclosures required by GAAP. In the opinion of management, all estimates and adjustments (consisting of normal recurring accruals) considered necessary for a fair presentation have been included. Operating results for the three and nine months ended September 30, 2023 are not necessarily indicative of the results that may be expected for the year ending December 31, 2023. This Quarterly Report on Form 10-Q should be read in conjunction with the consolidated financial statements and footnotes thereto included in L.B. Foster Company’s Annual Report on Form 10-K for the year ended December 31, 2022. In this Quarterly Report on Form 10-Q, references to “we,” “us,” “our,” and the “Company” refer collectively to L.B. Foster Company and its consolidated subsidiaries.

Business Segments

Business Segments	9 Months Ended
	Sep. 30, 2023
Segment Reporting [Abstract]
Business Segments	Business Segments The Company is a global technology solutions provider of engineered, manufactured products and services that builds and supports infrastructure. The Company’s innovative engineering and product development solutions address the safety, reliability, and performance needs of its customers’ most challenging requirements. The Company maintains locations in North America, South America, Europe, and Asia. The Company’s segments represent components of the Company (a) that engage in activities from which revenue is generated and expenses are incurred, (b) whose operating results are regularly reviewed by the Chief Operating Decision Maker, who uses such information to make decisions about resources to be allocated to the segments, and (c) for which discrete financial information is available. Operating segments are evaluated on their segment profit contribution to the Company’s consolidated results. Other income and expenses, interest, income taxes, and certain other items are managed on a consolidated basis. The Company’s segment accounting policies are described in Note 2 Business Segments of the Notes to the Company’s Consolidated Financial Statements contained in its Annual Report on Form 10-K for the year ended December 31, 2022. The operating results of the Company’s reportable segments were as follows for the periods presented: Three Months Ended Three Months Ended Net Sales Segment Operating Profit (Loss) Net Sales Segment Operating Profit Rail, Technologies, and Services $ 86,866 $ 3,865 $ 77,350 $ 539 Precast Concrete Products 38,642 3,389 28,856 1,245 Steel Products and Measurement 19,837 (1,521) 23,809 303 Total $ 145,345 $ 5,733 $ 130,015 $ 2,087 Nine Months Ended Nine Months Ended Net Sales Segment Operating Profit (Loss) Net Sales Segment Operating Profit (Loss) Rail, Technologies, and Services $ 242,866 $ 12,880 $ 222,857 $ 5,576 Precast Concrete Products 96,795 4,337 67,477 329 Steel Products and Measurement 69,206 (73) 69,990 (1,083) Total $ 408,867 $ 17,144 $ 360,324 $ 4,822 Segment profit (loss) from operations, as shown above, includes allocated corporate operating expenses. Operating expenses related to corporate headquarter functions that directly support the segment activity are allocated based on segment headcount, revenue contribution, or activity of the business units within the segments, based on the corporate activity type provided to the segment. The expense allocation excludes certain corporate costs that are separately managed from the segments. The following table demonstrates a reconciliation of reportable segment net profit to the Company’s consolidated total for the periods presented: Three Months Ended Nine Months Ended 2023 2022 2023 2022 Operating profit for reportable segments $ 5,733 $ 2,087 $ 17,144 $ 4,822 Interest expense - net (1,442) (993) (4,404) (1,747) Other (expense) income - net (917) (168) (3,463) 1,096 Unallocated corporate expenses and other unallocated charges (3,048) (3,207) (7,607) (5,749) Income (loss) before income taxes $ 326 $ (2,281) $ 1,670 $ (1,578) The following table illustrates assets of the Company by reportable segment for the periods presented: September 30, December 31, Rail, Technologies, and Services $ 164,728 $ 172,111 Precast Concrete Products 106,243 108,598 Steel Products and Measurement 36,481 54,516 Unallocated corporate assets 27,139 30,085 Total $ 334,591 $ 365,310 On August 30, 2023, the Company announced the discontinuation of its Bridge Products grid deck product line. The Bedford, PA based operations supporting the product line are expected to cease in the fourth quarter of 2023. For the three months ended September 30, 2023 and 2022, the product line had $283 and $2,967 in sales, respectively, and for the nine months ended September 30, 2023 and 2022, the product line had $3,749 and $12,975 in sales, respectively. The Company incurred $1,069 of exit costs recorded in “Other expense (income) - net,” which includes $345 in inventory write-downs, $462 in personnel expenses, and $262 in other exit costs. The Company expects to incur an additional $520 of personnel expenses associated with the exit through 2024. During the three months ended September 30, 2023 the Company also recorded a $1,977 reduction in net sales and a $3,051 reduction in gross profit stemming from changes in expected value of certain commercial projects associated with the exit of the product line. The grid deck product line was reported in the Bridge Products business unit within the Steel Products and Measurement segment. On June 30, 2023, the Company sold substantially all the operating assets of the prestressed concrete railroad tie business operated by its wholly-owned subsidiary, CXT Incorporated (“Ties”), located in Spokane, WA, for $2,362 in proceeds, subject to final working capital adjustments, generating a $1,009 loss on the sale, which was recorded in “Other expense (income) - net.” The Ties business was reported in the Rail Products business unit within the Rail, Technologies, and Services segment. On March 30, 2023, the Company sold substantially all the operating assets of its Precision Measurement Products and Systems business, Chemtec Energy Services LLC (“Chemtec”), for $5,344 in proceeds, subject to final working capital adjustments, generating a $2,065 loss on the sale, which was recorded in “Other expense (income) - net.” The Chemtec business was reported in the Coatings and Measurement business unit within the Steel Products and Measurement segment.

Revenue

Revenue	9 Months Ended
	Sep. 30, 2023
Revenue from Contract with Customer [Abstract]
Revenue	Revenue The following table summarizes the Company’s net sales by major product and service category for the periods presented: Three Months Ended Nine Months Ended 2023 2022 2023 2022 Rail Products and Global Friction Management $ 76,262 $ 69,573 $ 214,236 $ 192,527 Technology Services and Solutions 10,604 7,777 28,630 30,330 Rail, Technologies, and Services 86,866 77,350 242,866 222,857 Precast Concrete Buildings 20,127 15,525 50,338 41,306 Precast Infrastructure Products 18,515 13,331 46,457 26,171 Precast Concrete Products 38,642 28,856 96,795 67,477 Fabricated Steel Products 14,218 15,300 39,589 45,871 Coatings and Measurement 5,619 8,509 29,617 24,119 Steel Products and Measurement 19,837 23,809 69,206 69,990 Total net sales $ 145,345 $ 130,015 $ 408,867 $ 360,324 The majority of the Company’s revenue is from products transferred and services rendered to customers at a point in time. The Company recognizes revenue at the point in time at which the customer obtains control of the product or service, which is generally when the product title passes to the customer upon shipment or the service has been rendered to the customer. In limited cases, title does not transfer and revenue is not recognized until the customer has received the products at a designated physical location. Net sales by the timing of the transfer of goods and services was as follows for the periods presented: Three Months Ended September 30, 2023 Rail, Technologies, and Services Precast Concrete Products Steel Products and Measurement Total Point in time $ 72,246 $ 18,516 $ 20,018 $ 110,780 Over time 14,620 20,126 (181) 34,565 Total net sales $ 86,866 $ 38,642 $ 19,837 $ 145,345 Three Months Ended September 30, 2022 Rail, Technologies, and Services Precast Concrete Products Steel Products and Measurement Total Point in time $ 64,913 $ 13,331 $ 20,871 $ 99,115 Over time 12,437 15,525 2,938 30,900 Total net sales $ 77,350 $ 28,856 $ 23,809 $ 130,015 Nine Months Ended September 30, 2023 Rail, Technologies, and Services Precast Concrete Products Steel Products and Measurement Total Point in time $ 202,003 $ 46,458 $ 56,151 $ 304,612 Over time 40,863 50,337 13,055 104,255 Total net sales $ 242,866 $ 96,795 $ 69,206 $ 408,867 Nine Months Ended September 30, 2022 Rail, Technologies, and Services Precast Concrete Products Steel Products and Measurement Total Point in time $ 179,951 $ 26,171 $ 56,897 $ 263,019 Over time 42,906 41,306 13,093 97,305 Total net sales $ 222,857 $ 67,477 $ 69,990 $ 360,324 During the three and nine months ended September 30, 2023, the Company recorded a $1,977 reduction in net sales stemming from changes in expected value of certain commercial projects associated with the exit of the bridge grid deck product line. The Company’s performance obligations under long-term agreements with its customers are generally satisfied over time. Revenue under long-term agreements is at times recognized using an input measure based upon the proportion of actual costs incurred to estimated total project costs or an input measure based upon actual labor costs as a percentage of estimated total labor costs, depending upon which measure the Company believes best depicts its performance to date under the terms of the contract. The Company’s revenue recognized over time under long-term agreements is also at times recognized using an output method, specifically units delivered, based upon certain customer acceptance and delivery requirements. The use of an input or an output measure to recognize revenue is determined based on what is most appropriate given the nature of the work performed and terms of the associated agreement. Revenue recognized over time was as follows for the periods presented: Three Months Ended Percentage of Total Net Sales 2023 2022 2023 2022 Over time input method $ 12,642 $ 14,380 8.7 % 11.1 % Over time output method 21,923 16,520 15.1 12.7 Total over time sales $ 34,565 $ 30,900 23.8 % 23.8 % Nine Months Ended Percentage of Total Net Sales 2023 2022 2023 2022 Over time input method $ 44,577 $ 53,791 10.9 % 14.9 % Over time output method 59,678 43,514 14.6 12.1 Total over time sales $ 104,255 $ 97,305 25.5 % 27.0 % The timing of revenue recognition, billings, and cash collections results in billed receivables, costs in excess of billings (included in “Contract assets - net”), and billings in excess of costs (contract liabilities), included in “Deferred revenue” within the Condensed Consolidated Balance Sheets. The following table sets forth the Company’s contract assets: Contract Assets Balance as of December 31, 2022 $ 33,613 Net additions to contract assets 3,718 Transfers from contract asset balance to accounts receivable (6,828) Balance as of September 30, 2023 $ 30,503 The following table sets forth the Company’s contract liabilities: Contract Liabilities Balance as of December 31, 2022 $ 6,781 Revenue recognized from contract liabilities (4,421) Increase in billings in excess of cost, excluding revenue recognized 3,635 Other adjustments, including business divestiture (1,904) Balance as of September 30, 2023 $ 4,091 The Company records provisions related to the allowance for credit losses associated with contract assets. Provisions are recorded based upon a specific review of individual contracts as necessary, and a standard provision over any remaining contract assets pooled together based on similar risk of credit loss. The development of these provisions is based on historical collection trends, accuracy of estimates within contract margin reporting, as well as the expectation that collection patterns and margin reporting will continue to adhere to patterns observed in recent years. These expectations are formed based on trends observed, as well as current and expected future conditions. As of September 30, 2023, the Company had approximately $243,219 of obligations under new contracts and remaining performance obligations, which is also referred to as backlog. Approximately 10.9% of the September 30, 2023 backlog was related to projects that are anticipated to extend beyond September 30, 2024.

Goodwill and Other Intangible A

Goodwill and Other Intangible Assets	9 Months Ended
	Sep. 30, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Other Intangible Assets	Goodwill and Other Intangible Assets The following table presents the changes in goodwill balance by reportable segment for the period presented: Rail, Technologies, and Services Precast Concrete Products Steel Products and Measurement Total Balance as of December 31, 2022 $ 19,948 $ 10,785 $ — $ 30,733 VanHooseCo acquisition — 242 — 242 Foreign currency translation impact (119) — — (119) Balance as of September 30, 2023 $ 19,829 $ 11,027 $ — $ 30,856 The Company performs goodwill impairment tests annually during the fourth quarter, and also performs interim goodwill impairment tests if it is determined that it is more likely than not that the fair value of a reporting unit is less than the carrying amount. Qualitative factors are assessed to determine whether it is more likely than not that the fair value of a reporting unit is less than the carrying amount, which included the impacts of current economic conditions, including but not limited to labor markets, supply chains, and other inflationary costs. However, these factors can be unpredictable and are subject to change. No interim goodwill impairment test was required as a result of the evaluation of qualitative factors as of September 30, 2023. However, future impairment charges could result if future projections diverge unfavorably from current expectations. As of September 30, 2023 and December 31, 2022, the components of the Company’s intangible assets were as follows: September 30, 2023 Weighted Average Gross Accumulated Net Patents 10 $ 330 $ (194) $ 136 Customer relationships 16 27,276 (16,200) 11,076 Trademarks and trade names 16 7,942 (4,424) 3,518 Technology 13 32,474 (27,461) 5,013 Favorable lease 6 327 (64) 263 $ 68,349 $ (48,343) $ 20,006 During the nine months ended September 30, 2023, certain fully amortized intangible assets of $27 related to non-compete agreements were eliminated from gross intangible assets and accumulated amortization. December 31, 2022 Weighted Average Gross Accumulated Net Non-compete agreements 1 $ 27 $ (16) $ 11 Patents 10 330 (187) 143 Customer relationships 16 27,184 (14,129) 13,055 Trademarks and trade names 16 7,933 (3,989) 3,944 Technology 14 32,201 (25,827) 6,374 Favorable lease 6 327 (23) 304 $ 68,002 $ (44,171) $ 23,831 On June 21, 2022, the Company acquired the stock of Skratch Enterprises Ltd. (“Skratch”). On August 12, 2022, the Company acquired the operating assets of VanHooseCo Precast LLC (“VanHooseCo”). As of September 30, 2023, the purchase accounting for these transactions is final. Purchase accounting adjustments recognized during the nine months ended September 30, 2023 were immaterial.

Accounts Receivable

Accounts Receivable	9 Months Ended
	Sep. 30, 2023
Accounts Receivable Additional Disclosures [Abstract]
Accounts Receivable	Accounts ReceivableChanges in reserves for uncollectible accounts, which are recorded as part of “Selling and administrative expenses” in the Condensed Consolidated Statements of Operations, were recorded as an expense of $763 and income of $40 for the three months ended September 30, 2023 and 2022, respectively, and an expense of $1,174 and $171 for the nine months ended September 30, 2023 and 2022, respectively. The Company establishes the allowance for credit losses based on historical collection patterns and other subjective conditions as necessary, including current and expected market conditions. Trade receivables are pooled based on age, which groups receivables of similar credit risk together. Management maintains stringent credit review practices and works to maintain positive customer relationships to further mitigate credit risk. The following table sets forth the Company’s allowance for credit losses: Allowance for Credit Losses Balance as of December 31, 2022 $ 813 Current period provision 1,174 Write-off against allowance (244) Balance as of September 30, 2023 $ 1,743

Inventory

Inventory	9 Months Ended
	Sep. 30, 2023
Inventory Disclosure [Abstract]
Inventory	Inventory Inventory is valued at average cost or net realizable value, whichever is lower. The Company’s components of inventory as of September 30, 2023 and December 31, 2022 are summarized in the following table: September 30, December 31, Finished goods $ 46,740 $ 41,431 Work-in-process 8,673 9,693 Raw materials 26,607 24,597 Inventories - net $ 82,020 $ 75,721

Long-Term Debt and Related Matt

Long-Term Debt and Related Matters	9 Months Ended
	Sep. 30, 2023
Debt Disclosure [Abstract]
Long-Term Debt and Related Matters	Long-Term Debt and Related Matters Long-term debt consisted of the following: September 30, December 31, Revolving credit facility $ 71,476 $ 91,567 Finance leases and financing agreements 213 312 Total 71,689 91,879 Less current maturities (97) (127) Long-term portion $ 71,592 $ 91,752 On August 13, 2021, the Company, its domestic subsidiaries, and certain of its Canadian and United Kingdom subsidiaries (collectively, the “Borrowers”), entered into the Fourth Amended and Restated Credit Agreement (the “Credit Agreement”) with PNC Bank, N.A., Citizens Bank, N.A., Wells Fargo Bank, National Association, Bank of America, N.A., and BMO Harris Bank, National Association. The Credit Agreement, as amended, modifies the prior revolving credit facility, as amended, on terms more favorable to the Company and extends the maturity from April 30, 2024 to August 13, 2026. The Credit Agreement provides for a five-year, revolving credit facility that permits aggregate borrowings of the Borrowers up to $130,000 with a sublimit of the equivalent of $25,000 U.S. dollars that is available to the Canadian and United Kingdom borrowers in the aggregate. The Credit Agreement’s incremental loan feature permits the Company to increase the available commitments under the facility by up to an additional $50,000 subject to the Company’s receipt of increased commitments from existing or new lenders and the satisfaction of certain conditions. Borrowings under the Credit Agreement, as amended, will bear interest at rates based upon either the base rate or SOFR rate plus applicable margins. The Credit Agreement includes two financial covenants: (a) Maximum Gross Leverage Ratio, defined as the Company’s consolidated Indebtedness (as defined in the Credit Agreement) divided by the Company’s consolidated EBITDA, which must not exceed (i) 3.25 to 1.00 for all testing periods other than during an Acquisition Period (as defined in the Credit Agreement), and (ii) 3.50 to 1.00 for all testing periods occurring during an Acquisition Period, and (b) Minimum Consolidated Fixed Charge Coverage Ratio, defined as the Company’s consolidated EBITDA divided by the Company’s Fixed Charges (as defined in the Credit Agreement), which must be more than 1.05 to 1.00. On August 12, 2022, the Company entered into a second amendment to its Credit Agreement (“Second Amendment”) to obtain approval for the acquisition of VanHooseCo Precast, LLC (“VanHooseCo”) and temporarily modify certain financial covenants to accommodate the transaction. The Second Amendment permitted the Company to acquire the operating assets of VanHooseCo and modified the Maximum Gross Leverage Ratio covenant through June 30, 2023 to accommodate the transaction.

Earnings Per Common Share

Earnings Per Common Share	9 Months Ended
	Sep. 30, 2023
Earnings Per Share [Abstract]
Earnings Per Common Share	Earnings Per Common Share (Share amounts in thousands) The following table sets forth the computation of basic and diluted earnings (loss) per common share for the periods indicated: Three Months Ended Nine Months Ended 2023 2022 2023 2022 Numerator for basic and diluted earnings per common share: Net income (loss) attributable to L.B. Foster Company $ 515 $ (2,077) $ 1,894 $ (1,633) Denominator: Weighted average shares outstanding 10,813 10,731 10,804 10,710 Denominator for basic earnings (loss) per common share 10,813 10,731 10,804 10,710 Effect of dilutive securities: Stock compensation plans 160 — 91 — Dilutive potential common shares 160 — 91 — Denominator for diluted earnings (loss) per common share - adjusted weighted average shares outstanding 10,973 10,731 10,895 10,710 Basic earnings (loss) per common share $ 0.05 $ (0.20) $ 0.18 $ (0.16) Diluted earnings (loss) per common share $ 0.05 $ (0.20) $ 0.17 $ (0.16) There were 109 and 108 anti-dilutive shares for the three and nine months ended September 30, 2022, respectively, excluded from the calculation.

Income Taxes

Income Taxes	9 Months Ended
	Sep. 30, 2023
Income Tax Disclosure [Abstract]
Income Taxes	Income TaxesFor the three months ended September 30, 2023 and 2022, the Company recorded an income tax benefit of $121 and $176, respectively, on pre-tax income of $326 and pre-tax losses of $2,281, respectively, for an effective income tax rate of (37.1%) and 7.7%, respectively. For the nine months ended September 30, 2023 and 2022, the Company recorded an income tax benefit of $99 and income tax expense of $137, respectively, on pre-tax income of $1,670 and pre-tax losses of $1,578, respectively, for an effective income tax rate of (5.9%) and (8.7%), respectively. The Company's effective income tax rate for the three and nine months ended September 30, 2023 differed from the federal statutory rate of 21% primarily due to changes in the valuation allowance established against U.S. and United Kingdom deferred tax assets. Changes in pre-tax income projections, combined with the seasonal nature of our businesses, could also impact the effective income tax rate each quarter.

Stock-Based Compensation

Stock-Based Compensation	9 Months Ended
	Sep. 30, 2023
Share-Based Payment Arrangement, Noncash Expense [Abstract]
Stock-Based Compensation	Stock-Based Compensation The Company recorded stock-based compensation expense of $928 and $387 for the three months ended September 30, 2023 and 2022, respectively, and $2,757 and $1,570 for the nine months ended September 30, 2023 and 2022, respectively, related to restricted stock awards and performance share units. As of September 30, 2023, unrecognized compensation expense for awards that the Company expects to vest approximated $6,059. The Company will recognize this unrecognized compensation expense over the upcoming 2.4 years through March 1, 2026. Shares issued as a result of vested stock-based compensation awards generally will be issued from previously issued shares that have been reacquired by the Company and held as treasury stock or authorized and previously unissued common stock. Restricted Stock, Performance Share Units, and Performance-Based Stock Awards Under the 2022 Equity and Incentive Compensation Plan, as amended, successor to the 2006 Omnibus Plan, the Company grants eligible employees restricted stock and performance share units. The forfeitable restricted stock awards granted generally time-vest ratably over a three-year period, unless indicated otherwise by the underlying restricted stock award agreement. Awards of restricted stock are subject to a minimum one-year vesting period, including those granted to non-employee directors. Performance share units are offered annually under separate three-year long-term incentive programs. Performance share units are subject to forfeiture and will be converted into common stock of the Company based upon the Company’s performance relative to performance measures and conversion multiples, as defined in the underlying program. The Company has, on occasion, issued performance share units with longer performance periods as incentivization and retention tools. If the Company’s estimate of the number of performance share units expected to vest changes in a subsequent accounting period, cumulative compensation expense could increase or decrease. The change will be recognized in the current period for the vested shares and would change future expense over the remaining vesting period. Since 2017, non-employee directors have been permitted to defer receipt of annual stock awards and equity elected to be received in lieu of quarterly cash compensation. If so elected, these deferred stock units will be issued as common stock six months after separation from their service on the Board of Directors. Since 2018, no non-employee directors have elected the option to receive deferred stock units of the Company’s common stock in lieu of director cash compensation. In February 2023, the Compensation Committee approved the 2023-2025 Long Term Incentive Plan which includes grants of performance share units and restricted stock. The following table summarizes the restricted stock, deferred stock units, and performance-based stock and share unit activity for the nine months ended September 30, 2023: Restricted Deferred Performance-Based Stock Weighted Average Outstanding as of December 31, 2022 174,173 46,268 108,478 $ 17.77 Granted 181,914 — 367,558 11.78 Vested (88,367) (33,864) — 15.97 Adjustment for incentive awards expected to vest — — 20,104 15.36 Cancelled and forfeited (2,750) — — 14.46 Outstanding as of September 30, 2023 264,970 12,404 496,140 $ 14.20

Fair Value Measurements

Fair Value Measurements	9 Months Ended
	Sep. 30, 2023
Fair Value Disclosures [Abstract]
Fair Value Measurements	Fair Value Measurements The Company determines the fair value as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. The fair value hierarchy includes three levels of inputs that may be used to measure fair value as described below: Level 1: Observable inputs that reflect unadjusted quoted market prices in active markets for identical assets or liabilities. Level 2: Inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly or indirectly. Level 3: Unobservable inputs that are not corroborated by market data. The classification of a financial asset or liability within the hierarchy is determined based on the lowest level input that is significant to the fair value measurement. Cash equivalents - Included in “Cash and cash equivalents” within the Condensed Consolidated Balance Sheets are investments in non-domestic term deposits. The carrying amounts approximate fair value because of the short maturity of the instruments. SOFR-based interest rate swaps - To reduce the impact of interest rate changes on outstanding variable-rate debt, the Company amended and entered into forward-starting SOFR-based interest rate swaps with notional values totaling $20,000 and $20,000 effective August 12, 2022 and August 31, 2022, respectively. The fair value of the interest rate swaps are based on market-observable forward interest rates and represents the estimated amount that the Company would pay to terminate the agreements. As such, the swap agreements are classified as Level 2 within the fair value hierarchy. As of September 30, 2023 and December 31, 2022, the interest rate swaps were recorded in “ Other current assets Fair Value Measurements at Reporting Date Fair Value Measurements at Reporting Date September 30, Level 1 Level 2 Level 3 December 31, Level 1 Level 2 Level 3 Term deposits $ — $ — $ — $ — $ 17 $ 17 $ — $ — Interest rate swaps 2,009 — 2,009 — 1,930 — 1,930 — Total assets $ 2,009 $ — $ 2,009 $ — $ 1,947 $ 17 $ 1,930 $ — The $20,000 interest rate swap agreements that became effective August 2022 are accounted for as cash flow hedges and the objective of the hedges is to offset the expected interest variability on payments associated with the interest rate on our debt. The gains and losses related to the interest rate swaps are reclassified from “Accumulated other comprehensive loss” in our Condensed Consolidated Balance Sheets and included in “Interest expense - net” in our Condensed Consolidated Statements of Operations as the interest expense from our debt is recognized. For the three months ended September 30, 2023, the Company recognized interest income of $329 from interest rate swaps. For the nine months ended September 30, 2023 and 2022, the Company recognized interest income and interest expense of $869 and $78, respectively, from interest rate swaps.

Retirement Plans

Retirement Plans	9 Months Ended
	Sep. 30, 2023
Employee-related Liabilities [Abstract]
Retirement Plans	Retirement Plans Retirement Plans The Company has three retirement plans that cover its hourly and salaried employees in the United States: one defined benefit plan, which is frozen, and two defined contribution plans. Employees are eligible to participate in the appropriate plan based on employment classification. The Company’s contributions to the defined benefit and defined contribution plans are governed by the Employee Retirement Income Security Act of 1974, as amended (“ERISA”) and the Company’s policy and investment guidelines applicable to each respective plan. The Company’s policy is to contribute at least the minimum in accordance with the funding standards of ERISA. The Company maintains one defined contribution plan for its employees in Canada. In the United Kingdom, the Company maintains two defined contribution plans and a defined benefit plan, which is frozen. These plans are discussed in further detail below. United States Defined Benefit Plan Net periodic pension costs for the United States defined benefit pension plan for the three and nine months ended September 30, 2023 and 2022 were as follows: Three Months Ended Nine Months Ended 2023 2022 2023 2022 Interest cost $ 71 $ 49 $ 214 $ 146 Expected return on plan assets (64) (66) (192) (198) Recognized net actuarial loss 16 18 47 53 Net periodic pension cost $ 23 $ 1 $ 69 $ 1 The Company has made contributions to its United States defined benefit plan of $176 during the nine months ended September 30, 2023 and expects to make total contributions of approximately $400 during 2023. United Kingdom Defined Benefit Plan Net periodic pension costs for the United Kingdom defined benefit pension plan for the three and nine months ended September 30, 2023 and 2022 were as follows: Three Months Ended Nine Months Ended 2023 2022 2023 2022 Interest cost $ 56 $ 42 $ 168 $ 126 Expected return on plan assets (84) (74) (252) (222) Amortization of prior service costs and transition amount 6 6 18 18 Recognized net actuarial loss 3 38 9 114 Net periodic pension (income) cost $ (19) $ 12 $ (57) $ 36 United Kingdom regulations require trustees to adopt a prudent approach to funding required contributions to defined benefit pension plans. For the nine months ended September 30, 2023, the Company contributed approximately $260 to the plan. The Company anticipates total contributions of approximately $347 to the United Kingdom pension plan during 2023. Defined Contribution Plans The Company sponsors five defined contribution plans for hourly and salaried employees across its domestic and international facilities. The following table summarizes the expense associated with the contributions made to these plans for the periods presented: Three Months Ended Nine Months Ended 2023 2022 2023 2022 United States $ 728 $ 441 $ 2,135 $ 1,136 Canada 36 83 131 143 United Kingdom 294 588 881 588 $ 1,058 $ 1,112 $ 3,147 $ 1,867

Commitments and Contingent Liab

Commitments and Contingent Liabilities	9 Months Ended
	Sep. 30, 2023
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingent Liabilities	Commitments and Contingent Liabilities Product Liability Claims The Company is subject to product warranty claims that arise in the ordinary course of its business. For certain manufactured products, the Company maintains a product warranty accrual, which is adjusted on a monthly basis as a percentage of cost of sales. In addition, the product warranty accrual is adjusted periodically based on the identification or resolution of known individual product warranty claims. Union Pacific Railroad (“UPRR”) Concrete Tie Matter On March 13, 2019, the Company and its subsidiary, CXT Incorporated (“CXT”), entered into a Settlement Agreement (the “Settlement Agreement”) with UPRR to resolve the then-pending litigation in the matter of Union Pacific Railroad Company v. L.B. Foster Company and CXT Incorporated , Case No. CI 15-564, in the District Court for Douglas County, Nebraska. Under the Settlement Agreement, the Company and CXT will pay UPRR the aggregate amount of $50,000 without pre-judgment interest, which began with a $2,000 immediate payment, and with the remaining $48,000 paid in installments over a six-year period commencing on the effective date of the Settlement Agreement through December 2024 pursuant to a Promissory Note. Additionally, commencing in January 2019 and through December 2024, UPRR agreed to purchase and has been purchasing from the Company and its subsidiaries and affiliates, a cumulative total amount of $48,000 of products and services, targeting $8,000 of annual purchases per year beginning March 13, 2019, per letters of intent under the Settlement Agreement. During the third quarter of 2021, in connection with the Company’s divestiture of its Piling Products division, the targeted annual purchases per year have been reduced to $6,000 for 2021 through 2024. The Settlement Agreement also includes a mutual release of all claims and liability regarding or relating to all CXT pre-stressed concrete railroad ties with no admission of liability and dismissal of the litigation with prejudice. The expected payments under the UPRR Settlement Agreement for the remainder of the year ending December 31, 2023 and thereafter are as follows: Year Ending December 31, Remainder of 2023 $ 4,000 2024 8,000 Total $ 12,000 Environmental and Legal Proceedings The Company is subject to national, state, foreign, provincial, and/or local laws and regulations relating to the protection of the environment. The Company’s efforts to comply with environmental regulations may have an adverse effect on its future earnings. On June 5, 2017, a General Notice Letter was received from the United States Environmental Protection Agency (“EPA”) indicating that the Company may be a potentially responsible party (“PRP”) regarding the Portland Harbor Superfund Site cleanup along with numerous other companies. More than 140 other companies received such a notice. The Company and a predecessor owned and operated a facility near the harbor site for a period prior to 1982. The net present value and undiscounted costs of the selected remedy throughout the harbor site are estimated by the EPA to be approximately $1.1 billion and $1.7 billion, respectively, and the remedial work is expected to take as long as 13 years to complete. These costs may increase given that the remedy will not be initiated or completed for several years. The Company is reviewing the basis for its identification by the EPA and the nature of the historic operations of a Company predecessor near the site. Additionally, the Company executed a PRP agreement which provides for a private allocation process among almost 100 PRPs in a working group whose work is ongoing and involves a process that will ultimately conclude a proposed allocation of liability for cleanup of the site and various sub-areas. The Company does not have any individual risk sharing agreements in place with respect to the site, and was only associated with the site from 1976 to when it purchased the stock of a company whose assets it sold in 1982 and which was dissolved in 1994. On March 26, 2020, the EPA issued a Unilateral Administrative Order to two parties requiring them to perform remedial design work for that portion of the Harbor Superfund Site that includes the area closest to the facility; the Company was not a recipient of this Unilateral Administrative Order. The Company cannot predict the ultimate impact of these proceedings because of the large number of PRPs involved throughout the harbor site, the size and extent of the site, the degree of contamination of various wastes, varying environmental impacts throughout the harbor site, the scarcity of data related to the facility once operated by the Company and a predecessor, potential comparative liability between the allocation parties and regarding non-participants, and the speculative nature of the remediation costs. Based upon information currently available, management does not believe that the Company’s alleged PRP status regarding the Portland Harbor Superfund Site or other compliance with the present environmental protection laws will have a material adverse effect on the financial condition, results of operations, cash flows, competitive position, or capital expenditures of the Company. As more information develops and the allocation process is completed, and given the resolution of factors like those described above, an unfavorable resolution could have a material adverse effect. As of September 30, 2023 and December 31, 2022, the Company maintained environmental reserves approximating $2,426 and $2,472, respectively. The Company is also subject to other legal proceedings and claims that arise in the ordinary course of its business. Legal actions are subject to inherent uncertainties, and future events could change management’s assessment of the probability or estimated amount of potential losses from pending or threatened legal actions. Based on available information, it is the opinion of management that the ultimate resolution of pending or threatened legal actions, both individually and in the aggregate, will not result in losses having a material adverse effect on the Company’s financial position or liquidity as of September 30, 2023. If management believes that, based on available information, it is at least reasonably possible that a material loss (or additional material loss in excess of any accrual) will be incurred in connection with any legal actions, the Company discloses an estimate of the possible loss or range of loss, either individually or in the aggregate, as appropriate, if such an estimate can be made, or discloses that an estimate cannot be made. Based on the Company’s assessment as of September 30, 2023, no such disclosures were considered necessary.

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Pay vs Performance Disclosure
Net income (loss) attributable to L.B. Foster Company	$ 515	$ (2,077)	$ 1,894	$ (1,633)

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
	Sep. 30, 2023
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

Financial Statements (Policies)

Financial Statements (Policies)	9 Months Ended
	Sep. 30, 2023
Accounting Policies [Abstract]
Basis of Presentation	Basis of PresentationThe accompanying unaudited Condensed Consolidated Financial Statements have been prepared in accordance with accounting principles generally accepted in the United States (“GAAP”) for interim financial information and with the instructions to Form 10-Q and Article 8 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by GAAP for complete financial statements. The year-end consolidated balance sheet data was derived from audited financial statements, but does not include all disclosures required by GAAP. In the opinion of management, all estimates and adjustments (consisting of normal recurring accruals) considered necessary for a fair presentation have been included. Operating results for the three and nine months ended September 30, 2023 are not necessarily indicative of the results that may be expected for the year ending December 31, 2023. This Quarterly Report on Form 10-Q should be read in conjunction with the consolidated financial statements and footnotes thereto included in L.B. Foster Company’s Annual Report on Form 10-K for the year ended December 31, 2022. In this Quarterly Report on Form 10-Q, references to “we,” “us,” “our,” and the “Company” refer collectively to L.B. Foster Company and its consolidated subsidiaries.

Business Segments (Tables)

Business Segments (Tables)	9 Months Ended
	Sep. 30, 2023
Segment Reporting [Abstract]
Schedule of Reconciliation of Revenue from Segments to Consolidated	The operating results of the Company’s reportable segments were as follows for the periods presented: Three Months Ended Three Months Ended Net Sales Segment Operating Profit (Loss) Net Sales Segment Operating Profit Rail, Technologies, and Services $ 86,866 $ 3,865 $ 77,350 $ 539 Precast Concrete Products 38,642 3,389 28,856 1,245 Steel Products and Measurement 19,837 (1,521) 23,809 303 Total $ 145,345 $ 5,733 $ 130,015 $ 2,087 Nine Months Ended Nine Months Ended Net Sales Segment Operating Profit (Loss) Net Sales Segment Operating Profit (Loss) Rail, Technologies, and Services $ 242,866 $ 12,880 $ 222,857 $ 5,576 Precast Concrete Products 96,795 4,337 67,477 329 Steel Products and Measurement 69,206 (73) 69,990 (1,083) Total $ 408,867 $ 17,144 $ 360,324 $ 4,822
Schedule of Reconciliation of Operating Profit (Loss) from Segments to Consolidated	The following table demonstrates a reconciliation of reportable segment net profit to the Company’s consolidated total for the periods presented: Three Months Ended Nine Months Ended 2023 2022 2023 2022 Operating profit for reportable segments $ 5,733 $ 2,087 $ 17,144 $ 4,822 Interest expense - net (1,442) (993) (4,404) (1,747) Other (expense) income - net (917) (168) (3,463) 1,096 Unallocated corporate expenses and other unallocated charges (3,048) (3,207) (7,607) (5,749) Income (loss) before income taxes $ 326 $ (2,281) $ 1,670 $ (1,578)
Schedule of Reconciliation of Assets from Segment to Consolidated	The following table illustrates assets of the Company by reportable segment for the periods presented: September 30, December 31, Rail, Technologies, and Services $ 164,728 $ 172,111 Precast Concrete Products 106,243 108,598 Steel Products and Measurement 36,481 54,516 Unallocated corporate assets 27,139 30,085 Total $ 334,591 $ 365,310

Revenue (Tables)

Revenue (Tables)	9 Months Ended
	Sep. 30, 2023
Revenue from Contract with Customer [Abstract]
Schedule of Revenues by Major Product Line	The following table summarizes the Company’s net sales by major product and service category for the periods presented: Three Months Ended Nine Months Ended 2023 2022 2023 2022 Rail Products and Global Friction Management $ 76,262 $ 69,573 $ 214,236 $ 192,527 Technology Services and Solutions 10,604 7,777 28,630 30,330 Rail, Technologies, and Services 86,866 77,350 242,866 222,857 Precast Concrete Buildings 20,127 15,525 50,338 41,306 Precast Infrastructure Products 18,515 13,331 46,457 26,171 Precast Concrete Products 38,642 28,856 96,795 67,477 Fabricated Steel Products 14,218 15,300 39,589 45,871 Coatings and Measurement 5,619 8,509 29,617 24,119 Steel Products and Measurement 19,837 23,809 69,206 69,990 Total net sales $ 145,345 $ 130,015 $ 408,867 $ 360,324
Schedule of Disaggregation of Revenue	Net sales by the timing of the transfer of goods and services was as follows for the periods presented: Three Months Ended September 30, 2023 Rail, Technologies, and Services Precast Concrete Products Steel Products and Measurement Total Point in time $ 72,246 $ 18,516 $ 20,018 $ 110,780 Over time 14,620 20,126 (181) 34,565 Total net sales $ 86,866 $ 38,642 $ 19,837 $ 145,345 Three Months Ended September 30, 2022 Rail, Technologies, and Services Precast Concrete Products Steel Products and Measurement Total Point in time $ 64,913 $ 13,331 $ 20,871 $ 99,115 Over time 12,437 15,525 2,938 30,900 Total net sales $ 77,350 $ 28,856 $ 23,809 $ 130,015 Nine Months Ended September 30, 2023 Rail, Technologies, and Services Precast Concrete Products Steel Products and Measurement Total Point in time $ 202,003 $ 46,458 $ 56,151 $ 304,612 Over time 40,863 50,337 13,055 104,255 Total net sales $ 242,866 $ 96,795 $ 69,206 $ 408,867 Nine Months Ended September 30, 2022 Rail, Technologies, and Services Precast Concrete Products Steel Products and Measurement Total Point in time $ 179,951 $ 26,171 $ 56,897 $ 263,019 Over time 42,906 41,306 13,093 97,305 Total net sales $ 222,857 $ 67,477 $ 69,990 $ 360,324 Revenue recognized over time was as follows for the periods presented: Three Months Ended Percentage of Total Net Sales 2023 2022 2023 2022 Over time input method $ 12,642 $ 14,380 8.7 % 11.1 % Over time output method 21,923 16,520 15.1 12.7 Total over time sales $ 34,565 $ 30,900 23.8 % 23.8 % Nine Months Ended Percentage of Total Net Sales 2023 2022 2023 2022 Over time input method $ 44,577 $ 53,791 10.9 % 14.9 % Over time output method 59,678 43,514 14.6 12.1 Total over time sales $ 104,255 $ 97,305 25.5 % 27.0 %
Schedule of Contract with Customer, Contract Asset, Contract Liability	The following table sets forth the Company’s contract assets: Contract Assets Balance as of December 31, 2022 $ 33,613 Net additions to contract assets 3,718 Transfers from contract asset balance to accounts receivable (6,828) Balance as of September 30, 2023 $ 30,503 The following table sets forth the Company’s contract liabilities: Contract Liabilities Balance as of December 31, 2022 $ 6,781 Revenue recognized from contract liabilities (4,421) Increase in billings in excess of cost, excluding revenue recognized 3,635 Other adjustments, including business divestiture (1,904) Balance as of September 30, 2023 $ 4,091

Goodwill and Other Intangible_2

Goodwill and Other Intangible Assets (Tables)	9 Months Ended
	Sep. 30, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Goodwill	The following table presents the changes in goodwill balance by reportable segment for the period presented: Rail, Technologies, and Services Precast Concrete Products Steel Products and Measurement Total Balance as of December 31, 2022 $ 19,948 $ 10,785 $ — $ 30,733 VanHooseCo acquisition — 242 — 242 Foreign currency translation impact (119) — — (119) Balance as of September 30, 2023 $ 19,829 $ 11,027 $ — $ 30,856
Schedule of Finite-Lived Intangible Assets	As of September 30, 2023 and December 31, 2022, the components of the Company’s intangible assets were as follows: September 30, 2023 Weighted Average Gross Accumulated Net Patents 10 $ 330 $ (194) $ 136 Customer relationships 16 27,276 (16,200) 11,076 Trademarks and trade names 16 7,942 (4,424) 3,518 Technology 13 32,474 (27,461) 5,013 Favorable lease 6 327 (64) 263 $ 68,349 $ (48,343) $ 20,006 During the nine months ended September 30, 2023, certain fully amortized intangible assets of $27 related to non-compete agreements were eliminated from gross intangible assets and accumulated amortization. December 31, 2022 Weighted Average Gross Accumulated Net Non-compete agreements 1 $ 27 $ (16) $ 11 Patents 10 330 (187) 143 Customer relationships 16 27,184 (14,129) 13,055 Trademarks and trade names 16 7,933 (3,989) 3,944 Technology 14 32,201 (25,827) 6,374 Favorable lease 6 327 (23) 304 $ 68,002 $ (44,171) $ 23,831

Accounts Receivable (Tables)

Accounts Receivable (Tables)	9 Months Ended
	Sep. 30, 2023
Accounts Receivable Additional Disclosures [Abstract]
Schedule of Accounts Receivable, Allowance for Credit Loss	The following table sets forth the Company’s allowance for credit losses: Allowance for Credit Losses Balance as of December 31, 2022 $ 813 Current period provision 1,174 Write-off against allowance (244) Balance as of September 30, 2023 $ 1,743

Inventory (Tables)

Inventory (Tables)	9 Months Ended
	Sep. 30, 2023
Inventory Disclosure [Abstract]
Schedule of Inventory	The Company’s components of inventory as of September 30, 2023 and December 31, 2022 are summarized in the following table: September 30, December 31, Finished goods $ 46,740 $ 41,431 Work-in-process 8,673 9,693 Raw materials 26,607 24,597 Inventories - net $ 82,020 $ 75,721

Long-Term Debt and Related Ma_2

Long-Term Debt and Related Matters (Tables)	9 Months Ended
	Sep. 30, 2023
Debt Disclosure [Abstract]
Schedule of Long-term Debt Instruments	Long-term debt consisted of the following: September 30, December 31, Revolving credit facility $ 71,476 $ 91,567 Finance leases and financing agreements 213 312 Total 71,689 91,879 Less current maturities (97) (127) Long-term portion $ 71,592 $ 91,752

Earnings Per Common Share (Tabl

Earnings Per Common Share (Tables)	9 Months Ended
	Sep. 30, 2023
Earnings Per Share [Abstract]
Schedule of Earnings Per Share, Basic and Diluted	The following table sets forth the computation of basic and diluted earnings (loss) per common share for the periods indicated: Three Months Ended Nine Months Ended 2023 2022 2023 2022 Numerator for basic and diluted earnings per common share: Net income (loss) attributable to L.B. Foster Company $ 515 $ (2,077) $ 1,894 $ (1,633) Denominator: Weighted average shares outstanding 10,813 10,731 10,804 10,710 Denominator for basic earnings (loss) per common share 10,813 10,731 10,804 10,710 Effect of dilutive securities: Stock compensation plans 160 — 91 — Dilutive potential common shares 160 — 91 — Denominator for diluted earnings (loss) per common share - adjusted weighted average shares outstanding 10,973 10,731 10,895 10,710 Basic earnings (loss) per common share $ 0.05 $ (0.20) $ 0.18 $ (0.16) Diluted earnings (loss) per common share $ 0.05 $ (0.20) $ 0.17 $ (0.16)

Stock-Based Compensation (Table

Stock-Based Compensation (Tables)	9 Months Ended
	Sep. 30, 2023
Share-Based Payment Arrangement, Noncash Expense [Abstract]
Schedule of Nonvested Share Activity	The following table summarizes the restricted stock, deferred stock units, and performance-based stock and share unit activity for the nine months ended September 30, 2023: Restricted Deferred Performance-Based Stock Weighted Average Outstanding as of December 31, 2022 174,173 46,268 108,478 $ 17.77 Granted 181,914 — 367,558 11.78 Vested (88,367) (33,864) — 15.97 Adjustment for incentive awards expected to vest — — 20,104 15.36 Cancelled and forfeited (2,750) — — 14.46 Outstanding as of September 30, 2023 264,970 12,404 496,140 $ 14.20

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	9 Months Ended
	Sep. 30, 2023
Fair Value Disclosures [Abstract]
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis	Fair Value Measurements at Reporting Date Fair Value Measurements at Reporting Date September 30, Level 1 Level 2 Level 3 December 31, Level 1 Level 2 Level 3 Term deposits $ — $ — $ — $ — $ 17 $ 17 $ — $ — Interest rate swaps 2,009 — 2,009 — 1,930 — 1,930 — Total assets $ 2,009 $ — $ 2,009 $ — $ 1,947 $ 17 $ 1,930 $ —

Retirement Plans (Tables)

Retirement Plans (Tables)	9 Months Ended
	Sep. 30, 2023
Defined Benefit Plan Disclosure
Schedule of Costs of Retirement Plans	The following table summarizes the expense associated with the contributions made to these plans for the periods presented: Three Months Ended Nine Months Ended 2023 2022 2023 2022 United States $ 728 $ 441 $ 2,135 $ 1,136 Canada 36 83 131 143 United Kingdom 294 588 881 588 $ 1,058 $ 1,112 $ 3,147 $ 1,867
United States
Defined Benefit Plan Disclosure
Schedule of Net Benefit Costs	Net periodic pension costs for the United States defined benefit pension plan for the three and nine months ended September 30, 2023 and 2022 were as follows: Three Months Ended Nine Months Ended 2023 2022 2023 2022 Interest cost $ 71 $ 49 $ 214 $ 146 Expected return on plan assets (64) (66) (192) (198) Recognized net actuarial loss 16 18 47 53 Net periodic pension cost $ 23 $ 1 $ 69 $ 1
United Kingdom
Defined Benefit Plan Disclosure
Schedule of Net Benefit Costs	Net periodic pension costs for the United Kingdom defined benefit pension plan for the three and nine months ended September 30, 2023 and 2022 were as follows: Three Months Ended Nine Months Ended 2023 2022 2023 2022 Interest cost $ 56 $ 42 $ 168 $ 126 Expected return on plan assets (84) (74) (252) (222) Amortization of prior service costs and transition amount 6 6 18 18 Recognized net actuarial loss 3 38 9 114 Net periodic pension (income) cost $ (19) $ 12 $ (57) $ 36

Commitments and Contingent Li_2

Commitments and Contingent Liabilities (Tables)	9 Months Ended
	Sep. 30, 2023
Commitments and Contingencies Disclosure [Abstract]
Schedule of Future Payments of Legal Settlements	The expected payments under the UPRR Settlement Agreement for the remainder of the year ending December 31, 2023 and thereafter are as follows: Year Ending December 31, Remainder of 2023 $ 4,000 2024 8,000 Total $ 12,000

Business Segments - Reconciliat

Business Segments - Reconciliation of Revenue from Segments to Consolidated (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Segment Reporting Information
Net Sales	$ 145,345	$ 130,015	$ 408,867	$ 360,324
Segment Operating Profit (Loss)	2,685	(1,120)	9,537	(927)
Operating Segments
Segment Reporting Information
Net Sales	145,345	130,015	408,867	360,324
Segment Operating Profit (Loss)	5,733	2,087	17,144	4,822
Rail, Technologies, and Services
Segment Reporting Information
Net Sales	86,866	77,350	242,866	222,857
Rail, Technologies, and Services | Operating Segments
Segment Reporting Information
Net Sales	86,866	77,350	242,866	222,857
Segment Operating Profit (Loss)	3,865	539	12,880	5,576
Precast Concrete Products
Segment Reporting Information
Net Sales	38,642	28,856	96,795	67,477
Precast Concrete Products | Operating Segments
Segment Reporting Information
Net Sales	38,642	28,856	96,795	67,477
Segment Operating Profit (Loss)	3,389	1,245	4,337	329
Steel Products and Measurement
Segment Reporting Information
Net Sales	19,837	23,809	69,206	69,990
Steel Products and Measurement | Operating Segments
Segment Reporting Information
Net Sales	19,837	23,809	69,206	69,990
Segment Operating Profit (Loss)	$ (1,521)	$ 303	$ (73)	$ (1,083)

Business Segments - Reconcili_2

Business Segments - Reconciliation of Operating Profit (Loss) from Segments to Consolidated (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Operating profit for reportable segments	$ 2,685	$ (1,120)	$ 9,537	$ (927)
Other (expense) income - net	(917)	(168)	(3,463)	1,096
Income (loss) before income taxes	326	(2,281)	1,670	(1,578)
Operating Segments
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Operating profit for reportable segments	5,733	2,087	17,144	4,822
Interest expense - net	(1,442)	(993)	(4,404)	(1,747)
Other (expense) income - net	(917)	(168)	(3,463)	1,096
Unallocated corporate expenses and other unallocated charges	(3,048)	(3,207)	(7,607)	(5,749)
Income (loss) before income taxes	$ 326	$ (2,281)	$ 1,670	$ (1,578)

Business Segments - Reconcili_3

Business Segments - Reconciliation of Assets from Segment to Consolidated (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Segment Reporting Information
Assets	$ 334,591	$ 365,310
Operating Segments | Rail, Technologies, and Services
Segment Reporting Information
Assets	164,728	172,111
Operating Segments | Precast Concrete Products
Segment Reporting Information
Assets	106,243	108,598
Operating Segments | Steel Products and Measurement
Segment Reporting Information
Assets	36,481	54,516
Unallocated corporate assets
Segment Reporting Information
Assets	$ 27,139	$ 30,085

Business Segments - Narrative (

Business Segments - Narrative (Details) - USD ($) $ in Thousands			3 Months Ended			9 Months Ended
	Jun. 30, 2023	Mar. 30, 2023	Dec. 31, 2023	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Segment Reporting Information
Total net sales				$ 145,345	$ 130,015	$ 408,867	$ 360,324
Other (expense) income - net				(917)	(168)	(3,463)	1,096
Proceeds from business dispositions						7,706	8,800
Loss (gain) on asset divestitures						3,074	(44)
Bridge Grid Deck Product | Discontinued Operations
Segment Reporting Information
Total net sales				283	$ 2,967	3,749	$ 12,975
Other (expense) income - net						1,069
Inventory write-down						345
Personnel expenses						462
Other exit costs						$ 262
Reduction in net sales				1,977
Reduction in gross profit				$ 3,051
Bridge Grid Deck Product | Discontinued Operations | Forecast
Segment Reporting Information
Personnel expenses			$ 520
Rail Products
Segment Reporting Information
Proceeds from business dispositions	$ 2,362
Loss (gain) on asset divestitures	$ 1,009	$ 2,065
Coatings and Measurement
Segment Reporting Information
Proceeds from business dispositions		$ 5,344

Revenue - Sales by Major Produc

Revenue - Sales by Major Product Line (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Disaggregation of Revenue
Total net sales	$ 145,345	$ 130,015	$ 408,867	$ 360,324
Rail, Technologies, and Services
Disaggregation of Revenue
Total net sales	86,866	77,350	242,866	222,857
Precast Concrete Products
Disaggregation of Revenue
Total net sales	38,642	28,856	96,795	67,477
Steel Products and Measurement
Disaggregation of Revenue
Total net sales	19,837	23,809	69,206	69,990
Rail Products and Global Friction Management | Rail, Technologies, and Services
Disaggregation of Revenue
Total net sales	76,262	69,573	214,236	192,527
Technology Services and Solutions | Rail, Technologies, and Services
Disaggregation of Revenue
Total net sales	10,604	7,777	28,630	30,330
Precast Concrete Buildings | Precast Concrete Products
Disaggregation of Revenue
Total net sales	20,127	15,525	50,338	41,306
Precast Infrastructure Products | Precast Concrete Products
Disaggregation of Revenue
Total net sales	18,515	13,331	46,457	26,171
Fabricated Steel Products | Steel Products and Measurement
Disaggregation of Revenue
Total net sales	14,218	15,300	39,589	45,871
Coatings and Measurement | Steel Products and Measurement
Disaggregation of Revenue
Total net sales	$ 5,619	$ 8,509	$ 29,617	$ 24,119

Revenue - Timing of Transfer (D

Revenue - Timing of Transfer (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Disaggregation of Revenue
Total net sales	$ 145,345	$ 130,015	$ 408,867	$ 360,324
Bridge Grid Deck Product | Discontinued Operations
Disaggregation of Revenue
Total net sales	283	2,967	3,749	12,975
Disposal Group, Including Discontinued Operation, Revenue	1,977
Point in time
Disaggregation of Revenue
Total net sales	110,780	99,115	304,612	263,019
Over time
Disaggregation of Revenue
Total net sales	34,565	30,900	104,255	97,305
Rail, Technologies, and Services
Disaggregation of Revenue
Total net sales	86,866	77,350	242,866	222,857
Rail, Technologies, and Services | Point in time
Disaggregation of Revenue
Total net sales	72,246	64,913	202,003	179,951
Rail, Technologies, and Services | Over time
Disaggregation of Revenue
Total net sales	14,620	12,437	40,863	42,906
Precast Concrete Products
Disaggregation of Revenue
Total net sales	38,642	28,856	96,795	67,477
Precast Concrete Products | Point in time
Disaggregation of Revenue
Total net sales	18,516	13,331	46,458	26,171
Precast Concrete Products | Over time
Disaggregation of Revenue
Total net sales	20,126	15,525	50,337	41,306
Steel Products and Measurement
Disaggregation of Revenue
Total net sales	19,837	23,809	69,206	69,990
Steel Products and Measurement | Point in time
Disaggregation of Revenue
Total net sales	20,018	20,871	56,151	56,897
Steel Products and Measurement | Over time
Disaggregation of Revenue
Total net sales	$ (181)	$ 2,938	$ 13,055	$ 13,093

Revenue - Over Time Sales (Deta

Revenue - Over Time Sales (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Disaggregation of Revenue
Over time sales, amount	$ 34,565	$ 30,900	$ 104,255	$ 97,305
Over time sales, percentage	23.80%	23.80%	25.50%	27%
Over time input method
Disaggregation of Revenue
Over time sales, amount	$ 12,642	$ 14,380	$ 44,577	$ 53,791
Over time sales, percentage	8.70%	11.10%	10.90%	14.90%
Over time output method
Disaggregation of Revenue
Over time sales, amount	$ 21,923	$ 16,520	$ 59,678	$ 43,514
Over time sales, percentage	15.10%	12.70%	14.60%	12.10%

Revenue - Contract with Custome

Revenue - Contract with Customer (Details) $ in Thousands	9 Months Ended
	Sep. 30, 2023 USD ($)
Contract With Customer Asset After Allowance For Credit Loss Current [Roll Forward]
Balance as of December 31, 2022	$ 33,613
Net additions to contract assets	3,718
Transfers from contract asset balance to accounts receivable	(6,828)
Balance as of September 30, 2023	30,503
Contract With Customer Liability [Roll Forward]
Balance as of December 31, 2022	6,781
Revenue recognized from contract liabilities	(4,421)
Increase in billings in excess of cost, excluding revenue recognized	3,635
Other adjustments, including business divestiture	(1,904)
Balance as of September 30, 2023	$ 4,091

Revenue - Remaining Performance

Revenue - Remaining Performance Obligation (Details) $ in Thousands	Sep. 30, 2023 USD ($)
Revenue from Contract with Customer [Abstract]
Revenue remaining performance obligation	$ 243,219
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2023-10-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction
Revenue remaining performance obligation (percentage)	10.90%
Revenue, remaining performance obligation, expected timing of satisfaction, period	1 year

Goodwill and Other Intangible_3

Goodwill and Other Intangible Assets - Schedule of Goodwill (Details) $ in Thousands	9 Months Ended
	Sep. 30, 2023 USD ($)
Goodwill
Goodwill, beginning balance	$ 30,733
Foreign currency translation impact	(119)
Goodwill, ending balance	30,856
VanHooseCo acquisition
Goodwill
VanHooseCo acquisition	242
Rail, Technologies, and Services
Goodwill
Goodwill, beginning balance	19,948
Foreign currency translation impact	(119)
Goodwill, ending balance	19,829
Rail, Technologies, and Services | VanHooseCo acquisition
Goodwill
VanHooseCo acquisition	0
Precast Concrete Products
Goodwill
Goodwill, beginning balance	10,785
Foreign currency translation impact	0
Goodwill, ending balance	11,027
Precast Concrete Products | VanHooseCo acquisition
Goodwill
VanHooseCo acquisition	242
Steel Products and Measurement
Goodwill
Goodwill, beginning balance	0
Foreign currency translation impact	0
Goodwill, ending balance	0
Steel Products and Measurement | VanHooseCo acquisition
Goodwill
VanHooseCo acquisition	$ 0

Goodwill and Other Intangible_4

Goodwill and Other Intangible Assets - Schedule of Intangible Asset (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Finite-Lived Intangible Assets
Gross Carrying Value	$ 68,349	$ 68,002
Accumulated Amortization	(48,343)	(44,171)
Net Carrying Amount	20,006	23,831
Non-compete agreements
Finite-Lived Intangible Assets
Gross Carrying Value	27	27
Accumulated Amortization	(27)	(16)
Net Carrying Amount		11
Patents
Finite-Lived Intangible Assets
Gross Carrying Value	330	330
Accumulated Amortization	(194)	(187)
Net Carrying Amount	136	143
Customer relationships
Finite-Lived Intangible Assets
Gross Carrying Value	27,276	27,184
Accumulated Amortization	(16,200)	(14,129)
Net Carrying Amount	11,076	13,055
Trademarks and trade names
Finite-Lived Intangible Assets
Gross Carrying Value	7,942	7,933
Accumulated Amortization	(4,424)	(3,989)
Net Carrying Amount	3,518	3,944
Technology
Finite-Lived Intangible Assets
Gross Carrying Value	32,474	32,201
Accumulated Amortization	(27,461)	(25,827)
Net Carrying Amount	5,013	6,374
Favorable lease
Finite-Lived Intangible Assets
Gross Carrying Value	327	327
Accumulated Amortization	(64)	(23)
Net Carrying Amount	$ 263	$ 304
Weighted Average | Non-compete agreements
Finite-Lived Intangible Assets
Weighted Average Amortization Period In Years		1 year
Weighted Average | Patents
Finite-Lived Intangible Assets
Weighted Average Amortization Period In Years	10 years	10 years
Weighted Average | Customer relationships
Finite-Lived Intangible Assets
Weighted Average Amortization Period In Years	16 years	16 years
Weighted Average | Trademarks and trade names
Finite-Lived Intangible Assets
Weighted Average Amortization Period In Years	16 years	16 years
Weighted Average | Technology
Finite-Lived Intangible Assets
Weighted Average Amortization Period In Years	13 years	14 years
Weighted Average | Favorable lease
Finite-Lived Intangible Assets
Weighted Average Amortization Period In Years	6 years	6 years

Goodwill and Other Intangible_5

Goodwill and Other Intangible Assets - Narrative (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Finite-Lived Intangible Assets
Gross Carrying Value	$ 68,349	$ 68,002
Accumulated amortization	48,343	44,171
Non-compete agreements
Finite-Lived Intangible Assets
Gross Carrying Value	27	27
Accumulated amortization	$ 27	$ 16

Accounts Receivable - Narrative

Accounts Receivable - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Financing Receivable, Allowance for Credit Loss [Line Items]
Reserve for uncollectible accounts, expense			$ 1,174
Selling, General and Administrative Expenses
Financing Receivable, Allowance for Credit Loss [Line Items]
Reserve for uncollectible accounts, expense	$ 763	$ 40	$ 1,174	$ 171

Accounts Receivable - Allowance

Accounts Receivable - Allowance for Credit Losses (Details) $ in Thousands	9 Months Ended
	Sep. 30, 2023 USD ($)
Allowance for Doubtful Accounts
Allowance for doubtful accounts, beginning balance	$ 813
Current period provision	1,174
Write-off against allowance	(244)
Allowance for doubtful accounts, ending balance	$ 1,743

Inventory (Details)

Inventory (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Inventory Disclosure [Abstract]
Finished goods	$ 46,740	$ 41,431
Work-in-process	8,673	9,693
Raw materials	26,607	24,597
Inventories - net	$ 82,020	$ 75,721

Long-Term Debt and Related Ma_3

Long-Term Debt and Related Matters - Schedule of Long-term Debt Instruments (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Debt Disclosure [Abstract]
Revolving credit facility	$ 71,476	$ 91,567
Finance leases and financing agreements	213	312
Total	71,689	91,879
Less current maturities	(97)	(127)
Long-term portion	$ 71,592	$ 91,752

Long-Term Debt and Related Ma_4

Long-Term Debt and Related Matters - Narrative (Details)	Aug. 13, 2021 USD ($)	Sep. 30, 2023 USD ($) covenant	Dec. 31, 2022 USD ($)
Line of Credit Facility
Line of credit facility, amount outstanding		$ 71,476,000	$ 91,567,000
PNC Bank N.A. Citizens Bank N.A. Wells Fargo Bank National Association Bank of America N.A. And BMO Harris Bank National Association | Fourth Amended And Restated Credit Agreement
Line of Credit Facility
Minimum fixed charge coverage ratio	1.05
PNC Bank N.A. Citizens Bank N.A. Wells Fargo Bank National Association Bank of America N.A. And BMO Harris Bank National Association | Fourth Amended And Restated Credit Agreement | Debt Instrument, Redemption, Period One
Line of Credit Facility
Number of financial covenants | covenant		2
Minimum leverage ratio	3.25
PNC Bank N.A. Citizens Bank N.A. Wells Fargo Bank National Association Bank of America N.A. And BMO Harris Bank National Association | Fourth Amended And Restated Credit Agreement | Debt Instrument, Redemption, Period Two
Line of Credit Facility
Minimum leverage ratio	3.5
PNC Bank N.A. Citizens Bank N.A. Wells Fargo Bank National Association Bank of America N.A. And BMO Harris Bank National Association | Revolving credit facility
Line of Credit Facility
Line of credit facility, amount outstanding		$ 2,544,000
PNC Bank N.A. Citizens Bank N.A. Wells Fargo Bank National Association Bank of America N.A. And BMO Harris Bank National Association | Revolving credit facility | Fourth Amended And Restated Credit Agreement
Line of Credit Facility
Debt instrument term	5 years
Line of credit facility, maximum borrowing capacity	$ 130,000,000
Line of credit, accordion feature, lower borrowing capacity	25,000,000
Line of credit facility, maximum increase in commitments	$ 50,000,000

Earning Per Common Share - Sche

Earning Per Common Share - Schedule of Earnings Per Share, Basic and Diluted (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Numerator for basic and diluted earnings per common share:
Net income (loss) attributable to L.B. Foster Company	$ 515	$ (2,077)	$ 1,894	$ (1,633)
Denominator:
Weighted average shares outstanding (in shares)	10,813	10,731	10,804	10,710
Denominator for basic earnings (loss) per common share (in shares)	10,813	10,731	10,804	10,710
Effect of dilutive securities:
Stock compensation plans (in shares)	160	0	91	0
Dilutive potential common shares (in shares)	160	0	91	0
Denominator for diluted earnings (loss) per common share - adjusted weighted average shares outstanding (in shares)	10,973	10,731	10,895	10,710
Basic earnings (loss) per common share (usd per share)	$ 0.05	$ (0.20)	$ 0.18	$ (0.16)
Diluted earnings (loss) per common share (usd per share)	$ 0.05	$ (0.20)	$ 0.17	$ (0.16)
Anti-dilutive shares (in shares)		109		108

Income Taxes (Details)

Income Taxes (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Income Tax Disclosure [Abstract]
Income tax expense (benefit)	$ (121)	$ (176)	$ (99)	$ 137
Income (loss) before income taxes	$ 326	$ (2,281)	$ 1,670	$ (1,578)
Effective income tax rate (percent)	(37.10%)	7.70%	(5.90%)	(8.70%)

Stock-Based Compensation - Narr

Stock-Based Compensation - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Share-based Compensation Arrangement by Share-based Payment Award
Stock-based compensation			$ 2,757	$ 1,570
Expected cost on shares expected to vest	$ 6,059		$ 6,059
Recognition period for compensation expense not yet recognized			2 years 4 months 24 days
Director
Share-based Compensation Arrangement by Share-based Payment Award
Deferred receipt period			6 months
Restricted Stock and Performance Unit Awards
Share-based Compensation Arrangement by Share-based Payment Award
Stock-based compensation	$ 928	$ 387	$ 2,757	$ 1,570
Restricted Stock | Vesting period one
Share-based Compensation Arrangement by Share-based Payment Award
Vesting period			3 years
Restricted Stock | Vesting period two | Minimum
Share-based Compensation Arrangement by Share-based Payment Award
Vesting period			1 year
Performance-Based Stock and Share Units
Share-based Compensation Arrangement by Share-based Payment Award
Vesting period			3 years

Stock-Based Compensation - Rest

Stock-Based Compensation - Restricted Stock and Performance Share Units (Details)	9 Months Ended
	Sep. 30, 2023 $ / shares shares
Weighted Average Grant Date Fair Value
Outstanding, Beginning balance (usd per share) | $ / shares	$ 17.77
Granted (usd per share) | $ / shares	11.78
Vested (usd per share) | $ / shares	15.97
Adjustment for incentive awards expected to vest (usd per share) | $ / shares	15.36
Weighted average grant date fair value, cancelled and forfeited (usd per share) | $ / shares	14.46
Outstanding, Ending balance (usd per share) | $ / shares	$ 14.20
Restricted Stock
Restricted Stock, Deferred Stock Units and Performance Share Units
Outstanding, Beginning balance (in shares)	174,173
Granted (in shares)	181,914
Vested (in shares)	(88,367)
Adjustment for incentive awards expected to vest (in shares)	0
Cancelled and forfeited (in shares)	(2,750)
Outstanding, Ending balance (in shares)	264,970
Deferred Stock Units
Restricted Stock, Deferred Stock Units and Performance Share Units
Outstanding, Beginning balance (in shares)	46,268
Granted (in shares)	0
Vested (in shares)	(33,864)
Adjustment for incentive awards expected to vest (in shares)	0
Cancelled and forfeited (in shares)	0
Outstanding, Ending balance (in shares)	12,404
Performance-Based Stock and Share Units
Restricted Stock, Deferred Stock Units and Performance Share Units
Outstanding, Beginning balance (in shares)	108,478
Granted (in shares)	367,558
Vested (in shares)	0
Adjustment for incentive awards expected to vest (in shares)	20,104
Cancelled and forfeited (in shares)	0
Outstanding, Ending balance (in shares)	496,140

Fair Value Measurements - Narra

Fair Value Measurements - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022	Dec. 31, 2022	Aug. 31, 2022	Aug. 12, 2022
Fair Value, Balance Sheet Grouping, Financial Statement Captions
Derivative Liability, Statement of Financial Position [Extensible Enumeration]	Other accrued liabilities		Other accrued liabilities		Other accrued liabilities
Interest expense	$ 1,442	$ 993	$ 4,404	$ 1,747
Swap
Fair Value, Balance Sheet Grouping, Financial Statement Captions
Derivative, notional amount							$ 20,000
Interest income	$ 329		$ 869
Interest expense				$ 78
Swap 2
Fair Value, Balance Sheet Grouping, Financial Statement Captions
Derivative, notional amount						$ 20,000

Fair Value Measurements - Sched

Fair Value Measurements - Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis (Details) - USD ($) $ in Thousands	9 Months Ended	12 Months Ended
	Sep. 30, 2023	Dec. 31, 2022
Fair Value, Balance Sheet Grouping, Financial Statement Captions
Term deposits	$ 0	$ 17
Interest rate swaps	$ 2,009	$ 1,930
Derivative Asset Statement Of Financial Position Extensible Enumeration Not Disclosed Flag	Interest rate swaps	Interest rate swaps
Total assets	$ 2,009	$ 1,947
Level 1
Fair Value, Balance Sheet Grouping, Financial Statement Captions
Term deposits	0	17
Interest rate swaps	0	0
Total assets	0	17
Level 2
Fair Value, Balance Sheet Grouping, Financial Statement Captions
Term deposits	0	0
Interest rate swaps	2,009	1,930
Total assets	2,009	1,930
Level 3
Fair Value, Balance Sheet Grouping, Financial Statement Captions
Term deposits	0	0
Interest rate swaps	0	0
Total assets	$ 0	$ 0

Retirement Plans - Narrative (D

Retirement Plans - Narrative (Details) $ in Thousands	9 Months Ended
	Sep. 30, 2023 USD ($) plan
Pension Plan
Defined Benefit Plan Disclosure
Defined contribution plan number	5
United States
Defined Benefit Plan Disclosure
Number of retirement plans	3
Number of defined benefit plans	1
Defined contribution plan number	2
Defined benefit plan, contributions by employer | $	$ 176
Defined benefit plan, expected future employer contributions, current fiscal year | $	$ 400
Canada
Defined Benefit Plan Disclosure
Defined contribution plan number	1
United Kingdom
Defined Benefit Plan Disclosure
Defined contribution plan number	2
Defined benefit plan, contributions by employer | $	$ 260
Defined benefit plan, expected future employer contributions, current fiscal year | $	$ 347

Retirement Plans - Schedule of

Retirement Plans - Schedule of Net Benefit Costs (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
United States
Defined Benefit Plan Disclosure
Interest cost	$ 71	$ 49	$ 214	$ 146
Expected return on plan assets	(64)	(66)	(192)	(198)
Recognized net actuarial loss	16	18	47	53
Net periodic pension (income) cost	23	1	69	1
United Kingdom
Defined Benefit Plan Disclosure
Interest cost	56	42	168	126
Expected return on plan assets	(84)	(74)	(252)	(222)
Amortization of prior service costs and transition amount	6	6	18	18
Recognized net actuarial loss	3	38	9	114
Net periodic pension (income) cost	$ (19)	$ 12	$ (57)	$ 36

Retirement Plans - Schedule o_2

Retirement Plans - Schedule of Costs of Retirement Plans (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Defined Contribution Plan Disclosure
Expenses associated with contributions made	$ 1,058	$ 1,112	$ 3,147	$ 1,867
United States
Defined Contribution Plan Disclosure
Expenses associated with contributions made	728	441	2,135	1,136
Canada
Defined Contribution Plan Disclosure
Expenses associated with contributions made	36	83	131	143
United Kingdom
Defined Contribution Plan Disclosure
Expenses associated with contributions made	$ 294	$ 588	$ 881	$ 588

Commitments and Contingent Li_3

Commitments and Contingent Liabilities - Narrative (Details) $ in Thousands		9 Months Ended
	Mar. 13, 2019 USD ($)	Sep. 30, 2023 USD ($) potentially_responsible_party	Dec. 31, 2022 USD ($)	Sep. 30, 2021 USD ($)	Mar. 26, 2020 party	Jun. 05, 2017 company
Product Liability Contingency
Litigation settlement amount		$ 12,000
Number of companies that received a general notice letter (company) | company						140
Present value of remedial work		1,100,000
Undiscovered remedial work		$ 1,700,000
Anticipated clean period		13 years
Number of potentially responsible parties included in agreement | potentially_responsible_party		100
Number of parties required to perform remedial design work | party					2
Environmental Loss Contingency Statement Of Financial Position Extensible Enumeration Not Disclosed Flag		financial condition
Accrual for environmental loss		$ 2,426	$ 2,472
UPRR
Product Liability Contingency
Litigation settlement amount	$ 50,000
Litigation settlement amount, current	2,000
Litigation settlement amount, non-current	$ 48,000
Payment period	6 years
Purchase commitment	$ 48,000
UPRR
Product Liability Contingency
Annual commitment amount	$ 8,000			$ 6,000

Commitments and Contingent Li_4

Commitments and Contingent Liabilities - Future Payments (Details) $ in Thousands	9 Months Ended
	Sep. 30, 2023 USD ($)
Commitments and Contingencies Disclosure [Abstract]
Remainder of 2023	$ 4,000
2024	8,000
Total	$ 12,000