L.B. Foster (FSTR) 10-Q/A 4 Nov 24 2024 Q1 Quarterly report (amended) Financial data

Cover

Cover - shares	3 Months Ended
	Mar. 31, 2024	May 01, 2024
Cover [Abstract]
Document Type	10-Q/A
Document Quarterly Report	true
Document Period End Date	Mar. 31, 2024
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)		10,963,711
Amendment Flag	true
Amendment Description	This Amendment No. 1 on Form 10-Q/A (this "Quarterly Report on Form 10-Q/A") amends and restates certain items noted below in the Quarterly Report on Form 10-Q of L.B. Foster (the "Company") for the quarterly period ended March 31, 2024, as originally filed with the Securities and Exchange Commission ("SEC") on May 7, 2024 (the "Original Form 10-Q").
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	Q1
Entity Central Index Key	0000352825
Current Fiscal Year End Date	--12-31

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Current assets:
Cash and cash equivalents	$ 3,148	$ 2,560
Accounts receivable - net (Note 5)	57,871	53,484
Contract assets - net (Note 3)	24,141	29,489
Inventories - net (Note 6)	85,761	73,111
Other current assets	12,063	8,711
Total current assets	182,984	167,355
Property, plant, and equipment - net	76,133	75,579
Operating lease right-of-use assets - net	14,098	14,905
Other assets:
Goodwill (Note 4)	31,995	32,587
Other intangibles - net (Note 4)	18,198	19,010
Other assets	2,993	2,965
TOTAL ASSETS	326,401	312,401
Current liabilities:
Accounts payable	43,368	39,500
Deferred revenue (Note 3)	11,458	12,479
Accrued payroll and employee benefits	5,340	16,978
Current portion of accrued settlement (Note 13)	8,000	8,000
Current maturities of long-term debt (Note 7)	159	102
Other accrued liabilities	15,856	17,442
Total current liabilities	84,181	94,501
Long-term debt (Note 7)	77,926	55,171
Deferred tax liabilities (Note 9)	1,191	1,232
Long-term operating lease liabilities	11,178	11,865
Other long-term liabilities	6,648	6,797
Stockholders’ equity:
Common stock, par value $0.01, authorized 20,000,000 shares; shares issued at March 31, 2024 and December 31, 2023, 11,115,779; shares outstanding at March 31, 2024 and December 31, 2023, 10,789,231 and 10,733,935, respectively	111	111
Paid-in capital	41,866	43,111
Retained earnings	129,069	124,633
Treasury stock - at cost, 326,548 and 381,844 common stock shares at March 31, 2024 and December 31, 2023, respectively	(5,829)	(6,494)
Accumulated other comprehensive loss	(20,616)	(19,250)
Total L.B. Foster Company stockholders’ equity	144,601	142,111
Noncontrolling interest	676	724
Total stockholders’ equity	145,277	142,835
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY	$ 326,401	$ 312,401

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Mar. 31, 2024	Dec. 31, 2023
Statement of Financial Position [Abstract]
Common stock, par value (in 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)	10,789,231	10,733,935
Treasury stock shares - at cost, common stock (in shares)	326,548	381,844

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Total net sales	$ 124,320	$ 115,488
Total cost of sales	98,144	92,181
Gross profit	26,176	23,307
Selling and administrative expenses	22,870	21,417
(Gain) on sale of former joint venture facility	(3,477)	0
Amortization expense	1,217	1,365
Operating income	5,566	525
Interest expense - net	1,125	1,388
Other (income) expense - net	(253)	1,849
Income (loss) before income taxes	4,694	(2,712)
Income tax expense (benefit)	289	(541)
Net income (loss)	4,405	(2,171)
Net loss attributable to noncontrolling interest	(31)	(19)
Net income (loss) attributable to L.B. Foster Company	$ 4,436	$ (2,152)
Per share data attributable to L.B. Foster shareholders:
Basic earnings (loss) per common share (in USD per share)	$ 0.41	$ (0.20)
Diluted earnings (loss) per common share (in USD per share)	$ 0.40	$ (0.20)
Basic weighted average shares outstanding (in shares)	10,762	10,792
Diluted weighted average shares outstanding (in shares)	10,985	10,792
Sales of goods
Total net sales	$ 104,463	$ 98,538
Total cost of sales	81,542	78,049
Sales of services
Total net sales	19,857	16,950
Total cost of sales	$ 16,602	$ 14,132

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) - USD ($) $ in Thousands		3 Months Ended
		Mar. 31, 2024	Mar. 31, 2023
Statement of Comprehensive Income [Abstract]
Net income (loss)		$ 4,405	$ (2,171)
Other comprehensive (loss) income, net of tax:
Foreign currency translation adjustment		(1,497)	1,247
Unrealized gain (loss) on cash flow hedges, net of tax expense of $0		106	(418)
Reclassification of pension liability adjustments to earnings, net of tax expense of $4 and $2, respectively	[1]	25	40
Total comprehensive income (loss)		3,039	(1,302)
Less comprehensive (loss) income attributable to noncontrolling interest:
Net loss attributable to noncontrolling interest		(31)	(19)
Foreign currency translation adjustment		(17)	4
Amounts attributable to noncontrolling interest		(48)	(15)
Comprehensive income (loss) attributable to L.B. Foster Company		$ 3,087	$ (1,287)
[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 INCOME (LOSS) (Parenthetical) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Statement of Comprehensive Income [Abstract]
Unrealized gain on cash flow hedge, tax	$ 0	$ 0
Reclassification of pension liability adjustments to earnings, tax	$ 4	$ 2

CONDENSED CONSOLIDATED STATEM_4

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income (loss)	$ 4,405	$ (2,171)
Adjustments to reconcile net income (loss) to cash used in operating activities:
Deferred income taxes	(41)	(1,233)
Depreciation	2,374	2,505
Amortization	1,217	1,365
Equity in income of nonconsolidated investments	0	(17)
Gain on sales and disposals of property, plant, and equipment	(3,574)	(14)
Stock-based compensation	1,033
Loss on asset divestitures	0	2,033
Change in operating assets and liabilities:
Accounts receivable	(4,042)	26,239
Contract assets	5,136	(860)
Inventories	(12,756)	(15,564)
Other current assets	(3,262)	(791)
Other noncurrent assets	675	(1,439)
Accounts payable	3,200	4,921
Deferred revenue	(1,008)	(707)
Accrued payroll and employee benefits	(11,599)	(6,386)
Other current liabilities	(1,807)	(2,981)
Other long-term liabilities	(1,395)	1,148
Net cash (used in) provided by operating activities	(21,444)	6,932
CASH FLOWS FROM INVESTING ACTIVITIES:
Proceeds from the sale of property, plant, and equipment	3,501	16
Capital expenditures on property, plant, and equipment	(2,712)	(699)
Proceeds from business dispositions	0	5,344
Net cash provided by investing activities	789	4,661
CASH FLOWS FROM FINANCING ACTIVITIES:
Repayments of debt	(55,835)	(55,133)
Proceeds from debt	78,746	43,086
Treasury stock acquisitions	(1,613)	(309)
Investment of noncontrolling interest	0	334
Net cash provided by (used in) financing activities	21,298	(12,022)
Effect of exchange rate changes on cash and cash equivalents	(55)	186
Net increase (decrease) in cash and cash equivalents	588	(243)
Cash and cash equivalents at beginning of period	2,560	2,882
Cash and cash equivalents at end of period	3,148	2,639
Supplemental disclosure of cash flow information:
Interest paid	992	1,425
Income taxes paid (received)	$ 303	$ (1,564)

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, 2022	$ 137,598	$ 111	$ 41,303	$ 123,169	$ (6,240)	$ (21,165)	$ 420
Increase (Decrease) in Stockholders' Equity
Net income (loss)	(2,171)			(2,152)			(19)
Other comprehensive income, net of tax:
Pension liability adjustment	40					40
Foreign currency translation adjustment	1,251					1,247	4
Unrealized derivative gain on cash flow hedges	(418)					(418)
Issuance of common shares, net of share withheld for taxes	(170)		(1,236)		1,066
Stock-based compensation	884		884
Ending balance at Mar. 31, 2023	137,014	111	40,951	121,017	(5,174)	(20,296)	405
Beginning balance at Dec. 31, 2023	142,835	111	43,111	124,633	(6,494)	(19,250)	724
Increase (Decrease) in Stockholders' Equity
Net income (loss)	4,405			4,436			(31)
Other comprehensive income, net of tax:
Pension liability adjustment	25					25
Foreign currency translation adjustment	(1,514)					(1,497)	(17)
Unrealized derivative gain on cash flow hedges	106					106
Purchase of common shares for treasury	(385)				(385)
Issuance of common shares, net of share withheld for taxes	(1,228)		(2,278)		1,050
Stock-based compensation	1,033		1,033
Ending balance at Mar. 31, 2024	$ 145,277	$ 111	$ 41,866	$ 129,069	$ (5,829)	$ (20,616)	$ 676

CONDENSED CONSOLIDATED STATEM_6

CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS’ EQUITY (Parenthetical) - shares	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Statement of Stockholders' Equity [Abstract]
Purchase of common shares for treasury (in shares)	16,555
Common shares issues net of shares withheld (in shares)	71,851	32,884

Basis of Presentation

Basis of Presentation	3 Months Ended
	Mar. 31, 2024
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation The 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 months ended March 31, 2024 are not necessarily indicative of the results that may be expected for the year ending December 31, 2024. This Quarterly Report on Form 10-Q/A 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/A for the year ended December 31, 2023. In this Quarterly Report on Form 10-Q/A, references to “we,” “us,” “our,” and the “Company” refer collectively to L.B. Foster Company and its consolidated subsidiaries. Recently Issued Accounting Standards In November 2023, the FASB issued Accounting Standards Update 2023-07, “Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures” (“ASU 2023-07”), which requires enhanced disclosures regarding significant segment expenses that are regularly reviewed by the chief operating decision maker (“CODM”) and included in each reported measure of segment profit or loss, including an amount for “other segment items” by reportable segment and a description of its composition. ASU 2023-07 also requires entities to disclose the title and position of the CODM and an explanation of how the CODM uses reported measures of segment profit or loss to assess performance and allocate resources. The amendments are effective for fiscal years beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15, 2024 with early adoption permitted. The Company expects ASU 2023-07 to only impact its disclosures with no impacts to its consolidated financial condition, results of operations, and cash flows. In December 2023, the FASB issued Accounting Standards Update 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures (“ASU 2023-09”). ASU 2023-09 requires entities to disclose additional information with respect to the effective tax rate reconciliation and disaggregation of income tax expense and income taxes paid by jurisdiction. ASU 2023-09 is effective for fiscal years beginning after December 15, 2024, with early adoption permitted. The Company is currently evaluating the impact of ASU 2023-09, but expects this ASU to only impact its disclosures with no impacts to its consolidated financial condition, results of operations, and cash flows. Restatement of Previously Issued Condensed Consolidated Financial Statements The Company identified an error related to the classification of the $3,477 gain on the sale of the former joint venture facility located in Magnolia, Texas, which sale was completed in the first quarter of 2024 (the “Magnolia Sale”) and reflected in the Company’s Unaudited Condensed Consolidated Statement of Operations for the three month period ended March 31, 2024. Upon completion of the Magnolia Sale, the Company recorded the $3,477 gain in “Other (income) expense - net” in the Unaudited Condensed Consolidated Statement of Operations. The Company had previously concluded that such classification was appropriate. However, in accordance with ASC 360-10-45-5, the $3,477 gain on the Magnolia Sale should have been recorded as a component of “Operating income” and not “Other (income) expense - net.” As a result of this classification error, “Operating income” was understated by $3,477 and “Other (income) expense - net” was overstated by $3,477 in the Company’s Unaudited Condensed Consolidated Statements of Operations for the three months ended March 31, 2024. The Company also made other immaterial error corrections to the Company’s Unaudited Condensed Consolidated Statements of Operations for the three months ended March 31, 2024 (together with the Magnolia Sale adjustment, the “Restatement Adjustments”) and for the three months ended March 31, 2023. The impact of these corrections are shown in the tables below. Note only line items that were impacted by the Restatement Adjustments and immaterial error corrections are included below. Three Months Ended March 31, 2024 As Previously Reported Restatement Adjustments As Restated Cost of goods sold $ 81,469 $ 73 $ 81,542 Total cost of sales 98,071 73 98,144 Gross profit 26,249 (73) 26,176 Selling and administrative expenses 22,749 121 22,870 (Gain) on sale of former joint venture facility — (3,477) (3,477) Operating income 2,283 3,283 5,566 Other income - net (3,536) 3,283 (253) Three Months Ended March 31, 2023 As Previously Reported Adjustments As Revised Cost of goods sold $ 78,065 $ (16) $ 78,049 Total cost of sales 92,197 (16) 92,181 Gross profit 23,291 16 23,307 Selling and administrative expenses 21,423 (6) 21,417 Operating income 503 22 525 Other expense - net 1,827 22 1,849 The Restatement Adjustments to the Unaudited Condensed Consolidated Statement of Operations for the three months ended March 31, 2024 and the immaterial error corrections made to the Unaudited Condensed Consolidated Statement of Operations for three months ended March 31, 2023 did not change “Income (loss) before income taxes,” “Income tax expense (benefit)” or “Net income.” The Restatement Adjustments did not have an impact on the Unaudited Condensed Consolidated Balance Sheet as of March 31, 2024. However, immaterial error corrections were made to the Consolidated Balance Sheet as of December 31, 2023 in the Company’s Annual Report on Form 10-K/A as filed on November 1, 2024, as shown in the table below. Note only line items that were impacted by the immaterial error corrections are included below. Year Ended December 31, 2023 As Previously Reported Adjustments As Revised ASSETS Current assets: Inventories - net $ 73,496 $ (385) $ 73,111 Other current assets 8,961 (250) 8,711 Total current assets 167,990 (635) 167,355 Property, plant, and equipment - net 75,999 (420) 75,579 Other assets: Other assets 2,715 250 2,965 TOTAL ASSETS 313,206 (805) 312,401 LIABILITIES AND STOCKHOLDERS’ EQUITY Current liabilities: Accounts payable $ 40,305 $ (805) $ 39,500 Total current liabilities 95,306 (805) 94,501 TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY 313,206 (805) 312,401 As a result of the immaterial error corrections to the Consolidated Balance Sheet as of December 31, 2023, the Condensed Consolidated Statement of Cash Flows for the three months ended March 31, 2024 contained herein was adjusted as follows. Note only line items that were impacted by the immaterial error corrections are included below. Three Months Ended March 31, 2024 As Previously Reported Adjustments As Revised CASH FLOWS FROM OPERATING ACTIVITIES: Inventories $ (12,371) $ (385) $ (12,756) Other current assets (3,012) (250) (3,262) Other noncurrent assets 425 250 675 Accounts payable 2,395 805 3,200 Net cash used in operating activities (21,864) 420 (21,444) CASH FLOWS FROM INVESTING ACTIVITIES: Capital expenditures on property, plant, and equipment $ (2,292) $ (420) $ (2,712) Net cash provided by investing activities 1,209 (420) 789 There was no impact on “Net cash provided by financing activities” and no change in “Net increase in cash and cash equivalents” for the three months ended March 31, 2024.

Business Segments

Business Segments	3 Months Ended
	Mar. 31, 2024
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 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 operating income 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/A for the year ended December 31, 2023. The Company is organized and operates in two reporting segments: Rail, Technologies, and Services (“Rail”), and Infrastructure Solutions (“Infrastructure”). Effective for the quarter and year ended December 31, 2023, the Company made certain organizational changes that led to the conclusion that it will operate under two reporting segments as opposed to the three reporting segments it has operated under historically. As such, the Company has restated segment information for the historical periods presented herein to conform to the current presentation. The Infrastructure Solutions business comprises both the historic Precast Concrete Products and Steel Products and Measurement (since renamed “Steel Products”) reporting segments. 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 Income (Loss) Net Sales Segment Operating Income (Loss) (As Restated) Rail, Technologies, and Services $ 82,623 $ 6,778 $ 64,384 $ 2,394 Infrastructure Solutions 41,697 (1,388) 51,104 (340) Total $ 124,320 $ 5,390 $ 115,488 $ 2,054 Segment operating income (loss), as shown above, includes allocated corporate operating expenses. Allocated corporate operating expenses include costs associated with central services such as quality, logistics, environmental health and safety, information technology, insurance, and human resources. Other corporate functional costs that are associated with the operating segments are also allocated to the segments such as finance, marketing, credit and collections, and treasury functions. Operating expenses related to corporate headquarter functions were allocated to each segment 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. Management believes the allocation of corporate operating expenses provides an accurate presentation of how the segments utilize corporate support activities. This provides the CODM meaningful segment profitability information to support operating decisions and the allocation of resources. The accounting policies of the reportable segments are the same as those described in the summary of significant accounting policies found in Note 1 Significant Accounting Policies of the Notes to the Company’s Consolidated Financial Statements contained in its Annual Report on Form 10-K/A for the year ended December 31, 2023. Certain corporate costs are separately managed on a consolidated basis and are not allocated to the operating segments. These corporate costs include public company costs such as listing fees, audit fees, compliance costs, and Board of Directors fees. Additionally, certain corporate executive management costs, including costs of the corporate executive leadership team, and corporate management stock-based compensation expenses are not allocated to the operating segments. Finally, interest expense, income taxes, and certain other items included in other income and expense which are managed on a consolidated basis are not allocated to the operating segments. During the three months ended March 31, 2024, the Company completed the Magnolia Sale generating a $3,477 gain on sale recorded in “(Gain) on sale of former joint venture facility” which is included as a component of corporate operating income. The following table demonstrates a reconciliation of reportable segment net operating income to the Company’s consolidated total for the periods presented: Three Months Ended 2024 2023 (As Restated) Income from operations: Total segment operating income $ 5,390 $ 2,054 Gain on sale of former joint venture facility 3,477 — Interest expense - net (1,125) (1,388) Other income (expense) - net 253 (1,849) Public company costs (1,219) (656) Corporate executive management costs (1,407) (366) Corporate management stock-based compensation (599) (544) Other (76) 37 Income (loss) before income taxes $ 4,694 $ (2,712) Depreciation/Amortization: Total segment depreciation/amortization $ 3,133 $ 3,429 Corporate depreciation/amortization 458 441 Depreciation/amortization $ 3,591 $ 3,870 Expenditures for Long-Lived Assets: Total segment expenditures for long-lived assets $ 2,569 $ 358 Corporate expenditures for long-lived assets 143 341 Expenditures for long-lived assets $ 2,712 $ 699 The following table illustrates assets of the Company by reportable segment for the periods presented: March 31, December 31, Rail, Technologies, and Services $ 167,565 $ 156,638 Infrastructure Solutions 129,852 130,247 Unallocated corporate assets 28,984 25,516 Total $ 326,401 $ 312,401 On March 30, 2023, the Company sold substantially all the operating assets of its Chemtec Energy Services LLC (“Chemtec”) business for $5,344 in proceeds generating a $2,065 loss on sale, recorded in “Other (income) expense - net” for the three months ended March 31, 2023. The Chemtec business was reported in the Steel Products business unit in the Infrastructure 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, generating a $1,009 loss on the sale, which was recorded in “Other expense (income) - net” for the three months ended June 30, 2023. The Ties business was reported in the Rail Products business unit within the Rail segment. On August 30, 2023, the Company announced the discontinuation of its Bridge Products grid deck product line (“Bridge Exit”) which was reported in the Steel Products business unit within the Infrastructure segment. The decision to exit the bridge grid deck product line was a result of a weak bridge grid deck market condition and outlook due to customer adoption of newer technologies replacing the grid deck solution. The Bedford, PA based operations supporting the product line expect to complete any remaining customer obligations during 2024. For the three months ended March 31, 2024 and 2023, the product line had $810 and $1,491 in sales, respectively. During the three months ended March 31, 2024, the Company incurred $73 of exit costs recorded in “Cost of goods sold,” all of which were personnel expenses. The Company expects to incur an additional $111 of personnel expenses associated with the exit through 2024. Cumulatively, the Company has incurred a total of $1,476 in exit costs for the Bridge Exit, which included $474 in inventory write-downs and $740 in personnel expenses, which were recorded in “Cost of goods sold,” and $262 in other exit costs which were recorded in “Selling and administrative expenses.” The majority of cash payments were made in early 2024. On November 17, 2023, the Company acquired the operating assets of Cougar Mountain Precast, LLC (“Cougar”), located in Caldwell, Idaho, which is a licensed manufacturer of Redi-Rock and natural concrete products for $1,644, subject to hold back payments, to be paid over the next twelve months or utilized to satisfy post-close working capital adjustments or indemnity claims. Cougar has been included in the Precast Concrete Products business unit within the Infrastructure segment.

Revenue

Revenue	3 Months Ended
	Mar. 31, 2024
Revenue from Contract with Customer [Abstract]
Revenue	Revenue The following table summarizes the Company’s sales by major product and service line for the periods presented: Three Months Ended 2024 2023 Rail Products $ 53,038 $ 40,228 Global Friction Management 14,022 15,820 Technology Services and Solutions 15,563 8,336 Rail, Technologies, and Services 82,623 64,384 Precast Concrete Products 21,091 24,288 Steel Products 20,606 26,816 Infrastructure Solutions 41,697 51,104 Total net sales $ 124,320 $ 115,488 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 March 31, 2024 Rail, Technologies, and Services Infrastructure Solutions Total Point in time $ 65,539 $ 29,657 $ 95,196 Over time 17,084 12,040 29,124 Total net sales $ 82,623 $ 41,697 $ 124,320 Three Months Ended March 31, 2023 Rail, Technologies, and Services Infrastructure Solutions Total Point in time $ 53,834 $ 29,128 $ 82,962 Over time 10,550 21,976 32,526 Total net sales $ 64,384 $ 51,104 $ 115,488 The Company’s performance obligations under long-term agreements with its customers are generally satisfied over time. Over time revenue is primarily comprised of transit infrastructure and technology services and solutions projects within the Rail segment, precast concrete buildings within the Precast Concrete Products division in the Infrastructure segment, and long-term bridge projects and custom precision metering systems within the Steel Products division in the Infrastructure segment. Revenue under these long-term agreements is generally recognized over time, either 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 the Company’s performance to date under the terms of the contract, or 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. Accounting for these long-term agreements involves the use of various techniques to estimate total revenues and costs. The Company estimates profit on these long-term agreements as the difference between total estimated revenues and expected costs to complete a contract and recognizes that profit over the life of the contract. As a result of management’s reviews of contract-related estimates the Company makes adjustments to contract estimates that impact our revenue and profit totals. Changes in estimates are primarily attributed to updated considerations, including economic conditions and historic contract patterns, resulting in changes to anticipated revenue from existing contracts. During the three months ended March 31, 2024, reductions to net sales stemming from changes in actual and expected values of certain commercial contracts and settlements of such contracts were immaterial. Such adjustments were $393 during the three months ended March 31, 2023. The Company’s estimates related to these long-term agreements are further described in Note 4 Revenue of the Notes to the Company’s Consolidated Financial Statements contained in its Annual Report on Form 10-K/A for the year ended December 31, 2023. Revenue recognized over time was as follows for the periods presented: Three Months Ended Percentage of Total Net Sales 2024 2023 2024 2023 Over time input method $ 13,143 $ 16,211 10.6 % 14.0 % Over time output method 15,981 16,315 12.9 14.1 Total over time sales $ 29,124 $ 32,526 23.4 % 28.2 % 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, 2023 $ 29,489 Net additions to contract assets 4,212 Transfers from contract asset balance to accounts receivable (9,560) Balance as of March 31, 2024 $ 24,141 The following table sets forth the Company’s contract liabilities: Contract Liabilities Balance as of December 31, 2023 $ 2,189 Revenue recognized from contract liabilities (1,467) Increase in billings in excess of cost, excluding revenue recognized 1,850 Other adjustments 317 Balance as of March 31, 2024 $ 2,889 The Company has established policies regarding allowance for credit losses associated with contract assets, which includes standalone reserve assessments for its long term, complex contracts as needed as well as detailed regular review and updates to contract margins, progress, and value. A standard reserve threshold is applied to contract assets related to short term, less complex contracts. Management also regularly reviews collection patterns and future expected collections and makes necessary revisions to allowance for credit losses related to contract assets. As of March 31, 2024, the Company had approximately $222,261 of remaining performance obligations, which is also referred to as backlog. Approximately 10.5% of the March 31, 2024 backlog was related to projects that are anticipated to extend beyond March 31, 2025.

Goodwill and Other Intangible A

Goodwill and Other Intangible Assets	3 Months Ended
	Mar. 31, 2024
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 Infrastructure Solutions Total Balance as of December 31, 2023 $ 20,466 $ 12,121 $ 32,587 Cougar purchase accounting adjustment — (445) (445) Foreign currency translation impact (147) — (147) Balance as of March 31, 2024 $ 20,319 $ 11,676 $ 31,995 On November 17, 2023, the Company acquired Cougar Mountain Precast, LLC., for which all purchase accounting adjustments were finalized as of March 31, 2024. Purchase accounting finalization during the three months ended March 31, 2024 included adjustments to record $429 of gross intangible assets for customer relationships with a weighted average amortization period of 5 years. 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 March 31, 2024. However, future impairment charges could result if future projections diverge unfavorably from current expectations. The following table sets forth the components of the Company’s intangible assets for the periods presented: March 31, 2024 Weighted Average Gross Accumulated Net Patents 10 $ 328 $ (203) $ 125 Customer relationships 16 28,048 (17,903) 10,145 Trademarks and trade names 15 7,979 (4,755) 3,224 Technology 9 32,632 (28,164) 4,468 Favorable lease 6 327 (91) 236 $ 69,314 $ (51,116) $ 18,198 December 31, 2023 Weighted Average Gross Accumulated Net Patents 10 $ 335 $ (199) $ 136 Customer relationships 16 27,712 (17,236) 10,476 Trademarks and trade names 16 7,989 (4,593) 3,396 Technology 9 32,658 (27,906) 4,752 Favorable lease 6 327 (77) 250 $ 69,021 $ (50,011) $ 19,010

Accounts Receivable

Accounts Receivable	3 Months Ended
	Mar. 31, 2024
Accounts Receivable Additional Disclosures [Abstract]
Accounts Receivable	Accounts Receivable Changes in reserves for uncollectible accounts are recorded as part of “Selling and administrative expenses” in the Condensed Consolidated Statements of Operations, and an expense of $396 and $155 for the three months ended March 31, 2024 and 2023, respectively. The Company established the allowance for credit losses by calculating the amount to reserve based on the age of a given trade receivable and considering historical collection patterns, bad debt expense experience, expected future trends of collections, current and expected market conditions, and any other relevant subjective adjustments as needed. Management maintains high-quality credit review practices and positive customer relationships that mitigate credit risks. The Company’s reserves are regularly reviewed and revised as necessary. The following table sets forth the Company’s allowance for credit losses: Allowance for Credit Losses Balance as of December 31, 2023 $ 809 Current period provision 396 Write-off against allowance (35) Balance as of March 31, 2024 $ 1,170

Inventory

Inventory	3 Months Ended
	Mar. 31, 2024
Inventory Disclosure [Abstract]
Inventory	Inventory Inventory is valued at average cost or net realizable value, whichever is lower. The Company’s components of inventory are summarized in the following table for the periods presented: March 31, December 31, Finished goods $ 57,550 $ 44,518 Work-in-process 1,432 4,675 Raw materials 26,779 23,918 Inventories - net $ 85,761 $ 73,111

Long-Term Debt and Related Matt

Long-Term Debt and Related Matters	3 Months Ended
	Mar. 31, 2024
Debt Disclosure [Abstract]
Long-Term Debt and Related Matters	Long-Term Debt and Related Matters Long-term debt consisted of the following: March 31, December 31, Revolving credit facility $ 77,497 $ 55,060 Finance leases and financing agreements 588 213 Total 78,085 55,273 Less current maturities (159) (102) Long-term portion $ 77,926 $ 55,171 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 amended revolving credit facility, 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. On August 12, 2022, the Company entered into a second amendment to its Credit Agreement (the “Second Amendment”) which added an additional tier to the pricing grid and provided for the conversion from LIBOR-based to SOFR-based borrowings. 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. As of March 31, 2024, the Company was in compliance with the covenants in the Credit Agreement, as amended, and had outstanding letters of credit of approximately $2,432.

Earnings Per Common Share

Earnings Per Common Share	3 Months Ended
	Mar. 31, 2024
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 2024 2023 Numerator for basic and diluted earnings (loss) per common share: Net income (loss) attributable to L.B. Foster Company $ 4,436 $ (2,152) Denominator: Weighted average shares outstanding 10,762 10,792 Denominator for basic earnings (loss) per common share 10,762 10,792 Effect of dilutive securities: Stock compensation plans 223 — Dilutive potential common shares 223 — Denominator for diluted earnings (loss) per common share - adjusted weighted average shares outstanding 10,985 10,792 Basic earnings (loss) per common share $ 0.41 $ (0.20) Diluted earnings (loss) per common share $ 0.40 $ (0.20) There were 0 and 101 anti-dilutive shares for the three months ended March 31, 2024 and March 31, 2023, respectively.

Income Taxes

Income Taxes	3 Months Ended
	Mar. 31, 2024
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes For the three months ended March 31, 2024 and 2023, the Company recorded an income tax expense of $289 on pre-tax income of $4,694 and an income tax benefit of $541 on pre-tax losses of $2,712, respectively, for an effective income tax rate of 6.2% and 19.9%, respectively. The Company’s effective income tax rate for the three months ended March 31, 2024 differed from the federal statutory rate of 21% primarily due to the realization of a portion of its U.S. deferred tax assets previously offset by a valuation allowance. The Company continues to maintain a full valuation allowance against its U.S. deferred tax assets, which is likely to result in significant variability of the effective tax rate in the current year. 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	3 Months Ended
	Mar. 31, 2024
Share-Based Payment Arrangement, Noncash Expense [Abstract]
Stock-Based Compensation	Stock-Based Compensation The Company recorded stock-based compensation expense of $1,033 and $884 for the three months ended March 31, 2024 and 2023, respectively. As of March 31, 2024, unrecognized compensation expense for awards that the Company expects to vest approximated $4,711. The Company will recognize this unrecognized compensation expense over the upcoming 1.9 years through March 1, 2026. As of March 31, 2024, the Company had stock awards issued pursuant to the 2022 Equity and Incentive Compensation Plan (the “Equity and Incentive Plan”) and its predecessor, the 2006 Omnibus Incentive Compensation Plan (the “Omnibus Plan”). No stock options are outstanding under either the Omnibus Plan or Equity and Incentive Plan and, as such, there was no stock-based compensation expense related to stock options recorded for the March 31, 2024 and 2023. Non-Employee Director Fully-Vested and Restricted Stock Awards Since May 2018, non-employee directors have been awarded shares of the Company’s common stock on each date the non-employee directors were elected at the annual shareholders’ meeting to serve as directors, subject to a one-year vesting requirement. The Deferred Compensation Plan for Non-Employee Directors under the Omnibus Plan and, by amendment, under the Equity and Incentive Compensation Plan, which permits non-employee directors of the Company to defer receipt of earned cash and/or stock compensation for service on the Board into deferred stock units. Restricted Stock and Performance-Based Stock and Share Units Under the Equity and Incentive Compensation Plan and Omnibus Plan, the Company grants certain employees restricted stock and performance-based stock and 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. Performance unit awards are offered annually under separate three-year long-term incentive programs, unless indicated otherwise by the underlying performance unit award agreement. Performance units are subject to forfeiture and will be converted into common stock based upon the Company’s performance relative to performance measures and conversion multiples as defined in the underlying program. The following table summarizes the restricted stock, deferred stock units, and performance-based stock and share unit activity for the periods presented: Restricted Deferred Performance-Based Stock Weighted Average Outstanding as of December 31, 2023 264,970 12,404 560,338 $ 14.10 Granted 13,064 — — 23.03 Vested (103,286) — (19,782) 13.92 Adjustment for incentive awards expected to vest — — 110 11.63 Cancelled and forfeited (1,000) — (437) 11.62 Outstanding as of March 31, 2024 173,748 12,404 540,229 $ 13.81

Fair Value Measurements

Fair Value Measurements	3 Months Ended
	Mar. 31, 2024
Fair Value Disclosures [Abstract]
Fair Value Measurements	Fair Value Measurements The Company determines the fair value of assets and liabilities based on the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants. The fair values are based on assumptions that market participants would use when pricing an asset or liability, including assumptions about risk and the risks inherent in valuation techniques and the inputs to valuations. The fair value hierarchy is based on whether the inputs to valuation techniques are observable or unobservable. Observable inputs reflect market data obtained from independent sources, while unobservable inputs reflect the Company’s own assumptions of what market participants would use. The fair value hierarchy includes three levels of inputs that may be used to measure fair value as described below. Level 1: Quoted market prices in active markets for identical assets or liabilities. Level 2: Observable market-based inputs or unobservable inputs that are corroborated by market data. 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. 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 March 31, 2024 and December 31, 2023, the interest rate swaps were recorded in “ Other current assets Fair Value Measurements at Reporting Date Fair Value Measurements at Reporting Date March 31, Level 1 Level 2 Level 3 December 31, Level 1 Level 2 Level 3 Interest rate swaps $ 1,331 $ — $ 1,331 $ — $ 1,225 $ — $ 1,225 $ — Total assets $ 1,331 $ — $ 1,331 $ — $ 1,225 $ — $ 1,225 $ — 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.

Retirement Plans

Retirement Plans	3 Months Ended
	Mar. 31, 2024
Employee-related Liabilities [Abstract]
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 were as follows for the periods presented: Three Months Ended 2024 2023 Interest cost $ 66 $ 71 Expected return on plan assets (68) (64) Recognized net actuarial loss 15 16 Net periodic pension cost $ 13 $ 23 The Company has made contributions to its United States defined benefit plan of $100 during the three months ended March 31, 2024 and expects to make total contributions of approximately $370 during 2024. United Kingdom Defined Benefit Plan Net periodic pension costs were as follows for the periods presented: Three Months Ended 2024 2023 Interest cost $ 56 $ 55 Expected return on plan assets (94) (83) Amortization of prior service costs and transition amount 6 6 Recognized net actuarial loss 8 3 Net periodic pension income $ (24) $ (19) United Kingdom regulations require trustees to adopt a prudent approach to funding required contributions to defined benefit pension plans. For the three months ended March 31, 2024, the Company contributed approximately $79 to the plan. The Company anticipates total contributions of approximately $315 to the United Kingdom pension plan during 2024. 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 2024 2023 United States $ 551 $ 614 Canada 76 62 United Kingdom 281 261 $ 908 $ 937

Commitments and Contingent Liab

Commitments and Contingent Liabilities	3 Months Ended
	Mar. 31, 2024
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 payment under the UPRR Settlement Agreement for the remainder of the year ending December 31, 2024 is $8,000, upon which the obligation for the Settlement Agreement will be satisfied. 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 March 31, 2024 and December 31, 2023, the Company maintained environmental reserves approximating $2,398 and $2,417, 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 March 31, 2024. 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 March 31, 2024, no such disclosures were considered necessary.

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Pay vs Performance Disclosure
Net income (loss) attributable to L.B. Foster Company	$ 4,436	$ (2,152)

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
	Mar. 31, 2024
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

Basis of Presentation (Policies

Basis of Presentation (Policies)	3 Months Ended
	Mar. 31, 2024
Accounting Policies [Abstract]
Basis of Presentation	The 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 months ended March 31, 2024 are not necessarily indicative of the results that may be expected for the year ending December 31, 2024. This Quarterly Report on Form 10-Q/A 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/A for the year ended December 31, 2023. In this Quarterly Report on Form 10-Q/A, references to “we,” “us,” “our,” and the “Company” refer collectively to L.B. Foster Company and its consolidated subsidiaries.
Recently Issued Accounting Standards	In November 2023, the FASB issued Accounting Standards Update 2023-07, “Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures” (“ASU 2023-07”), which requires enhanced disclosures regarding significant segment expenses that are regularly reviewed by the chief operating decision maker (“CODM”) and included in each reported measure of segment profit or loss, including an amount for “other segment items” by reportable segment and a description of its composition. ASU 2023-07 also requires entities to disclose the title and position of the CODM and an explanation of how the CODM uses reported measures of segment profit or loss to assess performance and allocate resources. The amendments are effective for fiscal years beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15, 2024 with early adoption permitted. The Company expects ASU 2023-07 to only impact its disclosures with no impacts to its consolidated financial condition, results of operations, and cash flows. In December 2023, the FASB issued Accounting Standards Update 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures (“ASU 2023-09”). ASU 2023-09 requires entities to disclose additional information with respect to the effective tax rate reconciliation and disaggregation of income tax expense and income taxes paid by jurisdiction. ASU 2023-09 is effective for fiscal years beginning after December 15, 2024, with early adoption permitted. The Company is currently evaluating the impact of ASU 2023-09, but expects this ASU to only impact its disclosures with no impacts to its consolidated financial condition, results of operations, and cash flows.

Basis of Presentation (Tables)

Basis of Presentation (Tables)	3 Months Ended
	Mar. 31, 2024
Accounting Policies [Abstract]
Summary of the Effects of Restatement Adjustments on the Consolidated Financial Statements	The impact of these corrections are shown in the tables below. Note only line items that were impacted by the Restatement Adjustments and immaterial error corrections are included below. Three Months Ended March 31, 2024 As Previously Reported Restatement Adjustments As Restated Cost of goods sold $ 81,469 $ 73 $ 81,542 Total cost of sales 98,071 73 98,144 Gross profit 26,249 (73) 26,176 Selling and administrative expenses 22,749 121 22,870 (Gain) on sale of former joint venture facility — (3,477) (3,477) Operating income 2,283 3,283 5,566 Other income - net (3,536) 3,283 (253) Three Months Ended March 31, 2023 As Previously Reported Adjustments As Revised Cost of goods sold $ 78,065 $ (16) $ 78,049 Total cost of sales 92,197 (16) 92,181 Gross profit 23,291 16 23,307 Selling and administrative expenses 21,423 (6) 21,417 Operating income 503 22 525 Other expense - net 1,827 22 1,849 The Restatement Adjustments did not have an impact on the Unaudited Condensed Consolidated Balance Sheet as of March 31, 2024. However, immaterial error corrections were made to the Consolidated Balance Sheet as of December 31, 2023 in the Company’s Annual Report on Form 10-K/A as filed on November 1, 2024, as shown in the table below. Note only line items that were impacted by the immaterial error corrections are included below. Year Ended December 31, 2023 As Previously Reported Adjustments As Revised ASSETS Current assets: Inventories - net $ 73,496 $ (385) $ 73,111 Other current assets 8,961 (250) 8,711 Total current assets 167,990 (635) 167,355 Property, plant, and equipment - net 75,999 (420) 75,579 Other assets: Other assets 2,715 250 2,965 TOTAL ASSETS 313,206 (805) 312,401 LIABILITIES AND STOCKHOLDERS’ EQUITY Current liabilities: Accounts payable $ 40,305 $ (805) $ 39,500 Total current liabilities 95,306 (805) 94,501 TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY 313,206 (805) 312,401 As a result of the immaterial error corrections to the Consolidated Balance Sheet as of December 31, 2023, the Condensed Consolidated Statement of Cash Flows for the three months ended March 31, 2024 contained herein was adjusted as follows. Note only line items that were impacted by the immaterial error corrections are included below. Three Months Ended March 31, 2024 As Previously Reported Adjustments As Revised CASH FLOWS FROM OPERATING ACTIVITIES: Inventories $ (12,371) $ (385) $ (12,756) Other current assets (3,012) (250) (3,262) Other noncurrent assets 425 250 675 Accounts payable 2,395 805 3,200 Net cash used in operating activities (21,864) 420 (21,444) CASH FLOWS FROM INVESTING ACTIVITIES: Capital expenditures on property, plant, and equipment $ (2,292) $ (420) $ (2,712) Net cash provided by investing activities 1,209 (420) 789

Business Segments (Tables)

Business Segments (Tables)	3 Months Ended
	Mar. 31, 2024
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 Income (Loss) Net Sales Segment Operating Income (Loss) (As Restated) Rail, Technologies, and Services $ 82,623 $ 6,778 $ 64,384 $ 2,394 Infrastructure Solutions 41,697 (1,388) 51,104 (340) Total $ 124,320 $ 5,390 $ 115,488 $ 2,054
Schedule of Reconciliation of Operating Profit (Loss) from Segments to Consolidated	Three Months Ended 2024 2023 (As Restated) Income from operations: Total segment operating income $ 5,390 $ 2,054 Gain on sale of former joint venture facility 3,477 — Interest expense - net (1,125) (1,388) Other income (expense) - net 253 (1,849) Public company costs (1,219) (656) Corporate executive management costs (1,407) (366) Corporate management stock-based compensation (599) (544) Other (76) 37 Income (loss) before income taxes $ 4,694 $ (2,712) Depreciation/Amortization: Total segment depreciation/amortization $ 3,133 $ 3,429 Corporate depreciation/amortization 458 441 Depreciation/amortization $ 3,591 $ 3,870 Expenditures for Long-Lived Assets: Total segment expenditures for long-lived assets $ 2,569 $ 358 Corporate expenditures for long-lived assets 143 341 Expenditures for long-lived assets $ 2,712 $ 699
Schedule of Reconciliation of Assets from Segment to Consolidated	The following table illustrates assets of the Company by reportable segment for the periods presented: March 31, December 31, Rail, Technologies, and Services $ 167,565 $ 156,638 Infrastructure Solutions 129,852 130,247 Unallocated corporate assets 28,984 25,516 Total $ 326,401 $ 312,401

Revenue (Tables)

Revenue (Tables)	3 Months Ended
	Mar. 31, 2024
Revenue from Contract with Customer [Abstract]
Schedule of Revenues by Major Product Line	The following table summarizes the Company’s sales by major product and service line for the periods presented: Three Months Ended 2024 2023 Rail Products $ 53,038 $ 40,228 Global Friction Management 14,022 15,820 Technology Services and Solutions 15,563 8,336 Rail, Technologies, and Services 82,623 64,384 Precast Concrete Products 21,091 24,288 Steel Products 20,606 26,816 Infrastructure Solutions 41,697 51,104 Total net sales $ 124,320 $ 115,488
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 March 31, 2024 Rail, Technologies, and Services Infrastructure Solutions Total Point in time $ 65,539 $ 29,657 $ 95,196 Over time 17,084 12,040 29,124 Total net sales $ 82,623 $ 41,697 $ 124,320 Three Months Ended March 31, 2023 Rail, Technologies, and Services Infrastructure Solutions Total Point in time $ 53,834 $ 29,128 $ 82,962 Over time 10,550 21,976 32,526 Total net sales $ 64,384 $ 51,104 $ 115,488 Revenue recognized over time was as follows for the periods presented: Three Months Ended Percentage of Total Net Sales 2024 2023 2024 2023 Over time input method $ 13,143 $ 16,211 10.6 % 14.0 % Over time output method 15,981 16,315 12.9 14.1 Total over time sales $ 29,124 $ 32,526 23.4 % 28.2 %
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, 2023 $ 29,489 Net additions to contract assets 4,212 Transfers from contract asset balance to accounts receivable (9,560) Balance as of March 31, 2024 $ 24,141 The following table sets forth the Company’s contract liabilities: Contract Liabilities Balance as of December 31, 2023 $ 2,189 Revenue recognized from contract liabilities (1,467) Increase in billings in excess of cost, excluding revenue recognized 1,850 Other adjustments 317 Balance as of March 31, 2024 $ 2,889

Goodwill and Other Intangible_2

Goodwill and Other Intangible Assets (Tables)	3 Months Ended
	Mar. 31, 2024
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 Infrastructure Solutions Total Balance as of December 31, 2023 $ 20,466 $ 12,121 $ 32,587 Cougar purchase accounting adjustment — (445) (445) Foreign currency translation impact (147) — (147) Balance as of March 31, 2024 $ 20,319 $ 11,676 $ 31,995
Schedule of Finite-Lived Intangible Assets	The following table sets forth the components of the Company’s intangible assets for the periods presented: March 31, 2024 Weighted Average Gross Accumulated Net Patents 10 $ 328 $ (203) $ 125 Customer relationships 16 28,048 (17,903) 10,145 Trademarks and trade names 15 7,979 (4,755) 3,224 Technology 9 32,632 (28,164) 4,468 Favorable lease 6 327 (91) 236 $ 69,314 $ (51,116) $ 18,198 December 31, 2023 Weighted Average Gross Accumulated Net Patents 10 $ 335 $ (199) $ 136 Customer relationships 16 27,712 (17,236) 10,476 Trademarks and trade names 16 7,989 (4,593) 3,396 Technology 9 32,658 (27,906) 4,752 Favorable lease 6 327 (77) 250 $ 69,021 $ (50,011) $ 19,010

Accounts Receivable (Tables)

Accounts Receivable (Tables)	3 Months Ended
	Mar. 31, 2024
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, 2023 $ 809 Current period provision 396 Write-off against allowance (35) Balance as of March 31, 2024 $ 1,170

Inventory (Tables)

Inventory (Tables)	3 Months Ended
	Mar. 31, 2024
Inventory Disclosure [Abstract]
Schedule of Inventory	The Company’s components of inventory are summarized in the following table for the periods presented: March 31, December 31, Finished goods $ 57,550 $ 44,518 Work-in-process 1,432 4,675 Raw materials 26,779 23,918 Inventories - net $ 85,761 $ 73,111

Long-Term Debt and Related Ma_2

Long-Term Debt and Related Matters (Tables)	3 Months Ended
	Mar. 31, 2024
Debt Disclosure [Abstract]
Schedule of Long-term Debt Instruments	Long-term debt consisted of the following: March 31, December 31, Revolving credit facility $ 77,497 $ 55,060 Finance leases and financing agreements 588 213 Total 78,085 55,273 Less current maturities (159) (102) Long-term portion $ 77,926 $ 55,171

Earnings Per Common Share (Tabl

Earnings Per Common Share (Tables)	3 Months Ended
	Mar. 31, 2024
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 2024 2023 Numerator for basic and diluted earnings (loss) per common share: Net income (loss) attributable to L.B. Foster Company $ 4,436 $ (2,152) Denominator: Weighted average shares outstanding 10,762 10,792 Denominator for basic earnings (loss) per common share 10,762 10,792 Effect of dilutive securities: Stock compensation plans 223 — Dilutive potential common shares 223 — Denominator for diluted earnings (loss) per common share - adjusted weighted average shares outstanding 10,985 10,792 Basic earnings (loss) per common share $ 0.41 $ (0.20) Diluted earnings (loss) per common share $ 0.40 $ (0.20)

Stock-Based Compensation (Table

Stock-Based Compensation (Tables)	3 Months Ended
	Mar. 31, 2024
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 periods presented: Restricted Deferred Performance-Based Stock Weighted Average Outstanding as of December 31, 2023 264,970 12,404 560,338 $ 14.10 Granted 13,064 — — 23.03 Vested (103,286) — (19,782) 13.92 Adjustment for incentive awards expected to vest — — 110 11.63 Cancelled and forfeited (1,000) — (437) 11.62 Outstanding as of March 31, 2024 173,748 12,404 540,229 $ 13.81

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	3 Months Ended
	Mar. 31, 2024
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 March 31, Level 1 Level 2 Level 3 December 31, Level 1 Level 2 Level 3 Interest rate swaps $ 1,331 $ — $ 1,331 $ — $ 1,225 $ — $ 1,225 $ — Total assets $ 1,331 $ — $ 1,331 $ — $ 1,225 $ — $ 1,225 $ —

Retirement Plans (Tables)

Retirement Plans (Tables)	3 Months Ended
	Mar. 31, 2024
Employee-related Liabilities [Abstract]
Schedule of Net Benefit Costs	Net periodic pension costs were as follows for the periods presented: Three Months Ended 2024 2023 Interest cost $ 66 $ 71 Expected return on plan assets (68) (64) Recognized net actuarial loss 15 16 Net periodic pension cost $ 13 $ 23 Net periodic pension costs were as follows for the periods presented: Three Months Ended 2024 2023 Interest cost $ 56 $ 55 Expected return on plan assets (94) (83) Amortization of prior service costs and transition amount 6 6 Recognized net actuarial loss 8 3 Net periodic pension income $ (24) $ (19)
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 2024 2023 United States $ 551 $ 614 Canada 76 62 United Kingdom 281 261 $ 908 $ 937

Basis of Presentation - Narrati

Basis of Presentation - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Gain on sale of former joint venture facility	$ 3,477	$ 0
Operating (income) expense
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Gain on sale of former joint venture facility	3,477
As Previously Reported
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Gain on sale of former joint venture facility	0
As Previously Reported | Other (income) expense, net
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Gain on sale of former joint venture facility	3,477
Restatement Adjustments
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Gain on sale of former joint venture facility	3,477
Restatement Adjustments | Other (income) expense, net
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Gain on sale of former joint venture facility	(3,477)
Restatement Adjustments | Operating (income) expense
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Gain on sale of former joint venture facility	$ 3,477

Basis of Presentation - Summary

Basis of Presentation - Summary of Effects on the Statements of Operations Resulting from the Corrections (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Total cost of sales	$ 98,144	$ 92,181
Gross profit	26,176	23,307
Selling and administrative expenses	22,870	21,417
(Gain) on sale of former joint venture facility	(3,477)	0
Operating income	5,566	525
Other (income) expense - net	(253)	1,849
As Previously Reported
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Total cost of sales	98,071	92,197
Gross profit	26,249	23,291
Selling and administrative expenses	22,749	21,423
(Gain) on sale of former joint venture facility	0
Operating income	2,283	503
Other (income) expense - net	(3,536)	1,827
Restatement Adjustments
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Total cost of sales	73	(16)
Gross profit	(73)	16
Selling and administrative expenses	121	(6)
(Gain) on sale of former joint venture facility	(3,477)
Operating income	3,283	22
Other (income) expense - net	3,283	22
Sales of goods
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Total cost of sales	81,542	78,049
Sales of goods | As Previously Reported
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Total cost of sales	81,469	78,065
Sales of goods | Restatement Adjustments
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Total cost of sales	$ 73	$ (16)

Basis of Presentation - Summa_2

Basis of Presentation - Summary of Effects on the Balance Sheets (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Current assets:
Inventories - net	$ 85,761	$ 73,111
Other current assets	12,063	8,711
Total current assets	182,984	167,355
Property, plant, and equipment - net	76,133	75,579
Other assets:
Other assets	2,993	2,965
TOTAL ASSETS	326,401	312,401
Current liabilities:
Accounts payable	43,368	39,500
Total current liabilities	84,181	94,501
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY	$ 326,401	312,401
As Previously Reported
Current assets:
Inventories - net		73,496
Other current assets		8,961
Total current assets		167,990
Property, plant, and equipment - net		75,999
Other assets:
Other assets		2,715
TOTAL ASSETS		313,206
Current liabilities:
Accounts payable		40,305
Total current liabilities		95,306
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY		313,206
Restatement Adjustments
Current assets:
Inventories - net		(385)
Other current assets		(250)
Total current assets		(635)
Property, plant, and equipment - net		(420)
Other assets:
Other assets		250
TOTAL ASSETS		(805)
Current liabilities:
Accounts payable		(805)
Total current liabilities		(805)
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY		$ (805)

Basis of Presentation - Summa_3

Basis of Presentation - Summary of Effects on the Statements of Cash Flows (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
CASH FLOWS FROM OPERATING ACTIVITIES:
Inventories	$ (12,756)	$ (15,564)
Other current assets	(3,262)	(791)
Other noncurrent assets	675	(1,439)
Accounts payable	3,200	4,921
Net cash used in operating activities	(21,444)	6,932
CASH FLOWS FROM INVESTING ACTIVITIES:
Capital expenditures on property, plant, and equipment	(2,712)	(699)
Net cash provided by investing activities	789	$ 4,661
As Previously Reported
CASH FLOWS FROM OPERATING ACTIVITIES:
Inventories	(12,371)
Other current assets	(3,012)
Other noncurrent assets	425
Accounts payable	2,395
Net cash used in operating activities	(21,864)
CASH FLOWS FROM INVESTING ACTIVITIES:
Capital expenditures on property, plant, and equipment	(2,292)
Net cash provided by investing activities	1,209
Restatement Adjustments
CASH FLOWS FROM OPERATING ACTIVITIES:
Inventories	(385)
Other current assets	(250)
Other noncurrent assets	250
Accounts payable	805
Net cash used in operating activities	420
CASH FLOWS FROM INVESTING ACTIVITIES:
Capital expenditures on property, plant, and equipment	(420)
Net cash provided by investing activities	$ (420)

Business Segments - Narrative (

Business Segments - Narrative (Details) $ in Thousands				3 Months Ended		7 Months Ended	12 Months Ended
	Nov. 17, 2023 USD ($)	Jun. 30, 2023 USD ($)	Mar. 30, 2023 USD ($)	Mar. 31, 2024 USD ($) segment	Mar. 31, 2023 USD ($)	Mar. 31, 2024 USD ($)	Dec. 31, 2023 segment
Segment Reporting Information
Number of reportable segments | segment				2			3
Gain on sale of former joint venture facility				$ 3,477	$ 0
Proceeds from business dispositions				0	5,344
Loss on asset divestiture				0	2,033
Total net sales				124,320	115,488
Total cost of sales				98,144	92,181
Other income (expense) - net				253	(1,849)
Cougar purchase accounting adjustment
Segment Reporting Information
Consideration transferred to acquire operating assets	$ 1,644
Bridge Grid Deck Product | Discontinued Operations
Segment Reporting Information
Total net sales				810	$ 1,491
Total cost of sales				73
Other income (expense) - net						$ 1,476
Personnel expenses				$ 111		740
Inventory write-down						474
Other exit costs						$ 262
Rail Products
Segment Reporting Information
Proceeds from business dispositions		$ 2,362
Loss on asset divestiture		$ (1,009)	$ 2,065
Coatings and Measurement
Segment Reporting Information
Proceeds from business dispositions			$ 5,344

Business Segments - Reconciliat

Business Segments - Reconciliation of Revenue from Segments to Consolidated (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Segment Reporting Information
Net Sales	$ 124,320	$ 115,488
Segment Operating Income (Loss)	5,566	525
Operating Segments
Segment Reporting Information
Net Sales	124,320	115,488
Segment Operating Income (Loss)	5,390	2,054
Rail, Technologies, and Services
Segment Reporting Information
Net Sales	82,623	64,384
Rail, Technologies, and Services | Operating Segments
Segment Reporting Information
Net Sales	82,623	64,384
Segment Operating Income (Loss)	6,778	2,394
Infrastructure Solutions
Segment Reporting Information
Net Sales	41,697	51,104
Infrastructure Solutions | Operating Segments
Segment Reporting Information
Net Sales	41,697	51,104
Segment Operating Income (Loss)	$ (1,388)	$ (340)

Business Segments - Reconcili_2

Business Segments - Reconciliation of Operating Profit (Loss) from Segments to Consolidated (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Dec. 31, 2023
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Total segment operating income	$ 5,566	$ 525
Gain on sale of former joint venture facility	3,477	0
Interest expense	(1,125)	(1,388)
Other income (expense) - net	253	(1,849)
Public company costs	(1,219)	(656)
Corporate executive management costs	(1,407)	(366)
Corporate management stock-based compensation	(599)	(544)
Other	(76)	37
Income (loss) before income taxes	4,694	(2,712)
Depreciation/amortization	3,591	3,870
Expenditures for Long-Lived Assets:	2,712	699
TOTAL ASSETS	326,401		$ 312,401
Operating Segments
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Total segment operating income	5,390	2,054
Income (loss) before income taxes	4,694	(2,712)
Depreciation/amortization	3,133	3,429
Expenditures for Long-Lived Assets:	2,569	358
Unallocated corporate assets
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Depreciation/amortization	458	441
Expenditures for Long-Lived Assets:	143	$ 341
TOTAL ASSETS	$ 28,984		$ 25,516

Business Segments - Reconcili_3

Business Segments - Reconciliation of Assets from Segment to Consolidated (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Segment Reporting Information
TOTAL ASSETS	$ 326,401	$ 312,401
Operating Segments | Rail, Technologies, and Services
Segment Reporting Information
TOTAL ASSETS	167,565	156,638
Operating Segments | Infrastructure Solutions
Segment Reporting Information
TOTAL ASSETS	129,852	130,247
Unallocated corporate assets
Segment Reporting Information
TOTAL ASSETS	$ 28,984	$ 25,516

Revenue - Sales by Major Produc

Revenue - Sales by Major Product Line (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Disaggregation of Revenue
Total net sales	$ 124,320	$ 115,488
Rail, Technologies, and Services
Disaggregation of Revenue
Total net sales	82,623	64,384
Precast Concrete Products
Disaggregation of Revenue
Total net sales	21,091	24,288
Steel Products
Disaggregation of Revenue
Total net sales	20,606	26,816
Infrastructure Solutions
Disaggregation of Revenue
Total net sales	41,697	51,104
Rail Products | Rail, Technologies, and Services
Disaggregation of Revenue
Total net sales	53,038	40,228
Global Friction Management | Rail, Technologies, and Services
Disaggregation of Revenue
Total net sales	14,022	15,820
Technology Services and Solutions | Rail, Technologies, and Services
Disaggregation of Revenue
Total net sales	$ 15,563	$ 8,336

Revenue - Timing of Transfer (D

Revenue - Timing of Transfer (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Disaggregation of Revenue
Total net sales	$ 124,320	$ 115,488
Point in time
Disaggregation of Revenue
Total net sales	95,196	82,962
Over time
Disaggregation of Revenue
Total net sales	29,124	32,526
Rail, Technologies, and Services
Disaggregation of Revenue
Total net sales	82,623	64,384
Rail, Technologies, and Services | Point in time
Disaggregation of Revenue
Total net sales	65,539	53,834
Rail, Technologies, and Services | Over time
Disaggregation of Revenue
Total net sales	17,084	10,550
Infrastructure Solutions
Disaggregation of Revenue
Total net sales	41,697	51,104
Infrastructure Solutions | Point in time
Disaggregation of Revenue
Total net sales	29,657	29,128
Infrastructure Solutions | Over time
Disaggregation of Revenue
Total net sales	$ 12,040	$ 21,976

Revenue - Over Time Sales (Deta

Revenue - Over Time Sales (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Disaggregation of Revenue
Over time sales, amount	$ 29,124	$ 32,526
Over time sales, percentage	23.40%	28.20%
Over time input method
Disaggregation of Revenue
Over time sales, amount	$ 13,143	$ 16,211
Over time sales, percentage	10.60%	14%
Over time output method
Disaggregation of Revenue
Over time sales, amount	$ 15,981	$ 16,315
Over time sales, percentage	12.90%	14.10%

Revenue - Contract with Custome

Revenue - Contract with Customer (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2024 USD ($)
Contract With Customer Asset After Allowance For Credit Loss Current [Roll Forward]
Balance as of December 31, 2023	$ 29,489
Net additions to contract assets	4,212
Transfers from contract asset balance to accounts receivable	(9,560)
Balance as of March 31, 2024	24,141
Contract With Customer Liability [Roll Forward]
Balance as of December 31, 2023	2,189
Revenue recognized from contract liabilities	(1,467)
Increase in billings in excess of cost, excluding revenue recognized	1,850
Other adjustments	317
Balance as of March 31, 2024	$ 2,889

Revenue - Remaining Performance

Revenue - Remaining Performance Obligation (Details) $ in Thousands	Mar. 31, 2024 USD ($)
Revenue from Contract with Customer [Abstract]
Revenue remaining performance obligation	$ 222,261
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2025-04-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction
Revenue remaining performance obligation (percentage)	10.50%
Revenue, remaining performance obligation, expected timing of satisfaction, period	1 year

Revenue - Narrative (Details)

Revenue - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Revenue from Contract with Customer [Abstract]
Reduction in sales due to changes in estimates	$ 0	$ 393

Goodwill and Other Intangible_3

Goodwill and Other Intangible Assets - Schedule of Goodwill (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2024 USD ($)
Goodwill
Goodwill, beginning balance	$ 32,587
Foreign currency translation impact	(147)
Goodwill, ending balance	31,995
Cougar purchase accounting adjustment
Goodwill
Cougar purchase accounting adjustment	(445)
Rail, Technologies, and Services
Goodwill
Goodwill, beginning balance	20,466
Foreign currency translation impact	(147)
Goodwill, ending balance	20,319
Rail, Technologies, and Services | Cougar purchase accounting adjustment
Goodwill
Cougar purchase accounting adjustment	0
Infrastructure Solutions
Goodwill
Goodwill, beginning balance	12,121
Foreign currency translation impact	0
Goodwill, ending balance	11,676
Precast Concrete Products | Cougar purchase accounting adjustment
Goodwill
Cougar purchase accounting adjustment	$ (445)

Goodwill and Other Intangible_4

Goodwill and Other Intangible Assets - Schedule of Intangible Asset (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Finite-Lived Intangible Assets
Gross Carrying Value	$ 69,314	$ 69,021
Accumulated Amortization	(51,116)	(50,011)
Net Carrying Amount	18,198	19,010
Patents
Finite-Lived Intangible Assets
Gross Carrying Value	328	335
Accumulated Amortization	(203)	(199)
Net Carrying Amount	125	136
Customer relationships
Finite-Lived Intangible Assets
Gross Carrying Value	28,048	27,712
Accumulated Amortization	(17,903)	(17,236)
Net Carrying Amount	10,145	10,476
Trademarks and trade names
Finite-Lived Intangible Assets
Gross Carrying Value	7,979	7,989
Accumulated Amortization	(4,755)	(4,593)
Net Carrying Amount	3,224	3,396
Technology
Finite-Lived Intangible Assets
Gross Carrying Value	32,632	32,658
Accumulated Amortization	(28,164)	(27,906)
Net Carrying Amount	4,468	4,752
Favorable lease
Finite-Lived Intangible Assets
Gross Carrying Value	327	327
Accumulated Amortization	(91)	(77)
Net Carrying Amount	$ 236	$ 250
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	15 years	16 years
Weighted Average | Technology
Finite-Lived Intangible Assets
Weighted Average Amortization Period In Years	9 years	9 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) - Customer relationships - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Finite-Lived Intangible Assets
Purchase accounting adjustments		$ 429
Weighted Average
Finite-Lived Intangible Assets
Acquired finite-lived intangible assets, weighted average amortization period	5 years

Accounts Receivable - Narrative

Accounts Receivable - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Financing Receivable, Allowance for Credit Loss [Line Items]
Reserve for uncollectible accounts, expense	$ 396
Selling, General and Administrative Expenses
Financing Receivable, Allowance for Credit Loss [Line Items]
Reserve for uncollectible accounts, expense	$ 396	$ 155

Accounts Receivable - Allowance

Accounts Receivable - Allowance for Credit Losses (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2024 USD ($)
Allowance for Doubtful Accounts
Allowance for doubtful accounts, beginning balance	$ 809
Current period provision	396
Write-off against allowance	(35)
Allowance for doubtful accounts, ending balance	$ 1,170

Inventory (Details)

Inventory (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Inventory Disclosure [Abstract]
Finished goods	$ 57,550	$ 44,518
Work-in-process	1,432	4,675
Raw materials	26,779	23,918
Inventories - net	$ 85,761	$ 73,111

Long-Term Debt and Related Ma_3

Long-Term Debt and Related Matters - Schedule of Long-term Debt Instruments (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Debt Disclosure [Abstract]
Revolving credit facility	$ 77,497	$ 55,060
Finance leases and financing agreements	588	213
Total	78,085	55,273
Less current maturities	(159)	(102)
Long-term portion	$ 77,926	$ 55,171

Long-Term Debt and Related Ma_4

Long-Term Debt and Related Matters - Narrative (Details)	Aug. 13, 2021 USD ($)	Mar. 31, 2024 USD ($) covenant	Dec. 31, 2023 USD ($)
Line of Credit Facility
Line of credit facility, amount outstanding		$ 77,497,000	$ 55,060,000
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		$ 2,432,000
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, $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Numerator for basic and diluted earnings (loss) per common share:
Net income (loss) attributable to L.B. Foster Company	$ 4,436	$ (2,152)
Denominator:
Weighted average shares outstanding (in shares)	10,762,000	10,792,000
Denominator for basic earnings (loss) per common share (in shares)	10,762,000	10,792,000
Effect of dilutive securities:
Stock compensation plans (in shares)	223,000	0
Dilutive potential common shares (in shares)	223,000	0
Denominator for diluted earnings (loss) per common share - adjusted weighted average shares outstanding (in shares)	10,985,000	10,792,000
Basic earnings (loss) per common share (in USD per share)	$ 0.41	$ (0.20)
Diluted earnings (loss) per common share (in USD per share)	$ 0.40	$ (0.20)
Anti-dilutive shares (in shares)	0	101,000

Income Taxes (Details)

Income Taxes (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Income Tax Disclosure [Abstract]
Income tax benefit	$ 289	$ (541)
Income (loss) before income taxes	$ 4,694	$ (2,712)
Effective income tax rate (as a percent)	6.20%	19.90%

Stock-Based Compensation - Narr

Stock-Based Compensation - Narrative (Details) - USD ($)	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Share-based Compensation Arrangement by Share-based Payment Award
Stock-based compensation expense	$ 1,033,000	$ 884,000
Expected cost on shares expected to vest	$ 4,711,000
Recognition period for compensation expense not yet recognized	1 year 10 months 24 days
Omnibus Plan and Equity and Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award
Stock-based compensation expense	$ 0	$ 0
Shares granted in period (in shares)	0	0
Director
Share-based Compensation Arrangement by Share-based Payment Award
Vesting period	1 year
Restricted Stock
Share-based Compensation Arrangement by Share-based Payment Award
Vesting period	3 years
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)	3 Months Ended
	Mar. 31, 2024 $ / shares shares
Weighted Average Grant Date Fair Value
Outstanding, beginning balance (in USD per share) | $ / shares	$ 14.10
Granted (in USD per share) | $ / shares	23.03
Vested (in USD per share) | $ / shares	13.92
Adjustment for incentive awards expected to vest (in USD per share) | $ / shares	11.63
Weighted average grant date fair value, cancelled and forfeited (in USD per share) | $ / shares	11.62
Outstanding, ending balance (in USD per share) | $ / shares	$ 13.81
Restricted Stock
Restricted Stock, Deferred Stock Units and Performance Share Units
Outstanding, beginning balance (in shares)	264,970
Granted (in shares)	13,064
Vested (in shares)	(103,286)
Adjustment for incentive awards expected to vest (in shares)	0
Cancelled and forfeited (in shares)	(1,000)
Outstanding, ending balance (in shares)	173,748
Deferred Stock Units
Restricted Stock, Deferred Stock Units and Performance Share Units
Outstanding, beginning balance (in shares)	12,404
Granted (in shares)	0
Vested (in shares)	0
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)	560,338
Granted (in shares)	0
Vested (in shares)	(19,782)
Adjustment for incentive awards expected to vest (in shares)	110
Cancelled and forfeited (in shares)	(437)
Outstanding, ending balance (in shares)	540,229

Fair Value Measurements - Narra

Fair Value Measurements - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Dec. 31, 2023	Aug. 31, 2022
Fair Value, Balance Sheet Grouping, Financial Statement Captions
Derivative Liability, Statement of Financial Position [Extensible Enumeration]	Other accrued liabilities		Other accrued liabilities
Swap
Fair Value, Balance Sheet Grouping, Financial Statement Captions
Derivative, notional amount				$ 20,000
Interest income	$ 337	$ 245
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	3 Months Ended	12 Months Ended
	Mar. 31, 2024	Dec. 31, 2023
Fair Value, Balance Sheet Grouping, Financial Statement Captions
Interest rate swaps	$ 1,331	$ 1,225
Derivative Asset Statement Of Financial Position Extensible Enumeration Not Disclosed Flag	Interest rate swaps	Interest rate swaps
Total assets	$ 1,331	$ 1,225
Level 1
Fair Value, Balance Sheet Grouping, Financial Statement Captions
Interest rate swaps	0	0
Total assets	0	0
Level 2
Fair Value, Balance Sheet Grouping, Financial Statement Captions
Interest rate swaps	1,331	1,225
Total assets	1,331	1,225
Level 3
Fair Value, Balance Sheet Grouping, Financial Statement Captions
Interest rate swaps	0	0
Total assets	$ 0	$ 0

Retirement Plans - Narrative (D

Retirement Plans - Narrative (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2024 USD ($) 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 | $	$ 100
Defined benefit plan, expected future employer contributions, current fiscal year | $	$ 370
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 | $	$ 79
Defined benefit plan, expected future employer contributions, current fiscal year | $	$ 315

Retirement Plans - Schedule of

Retirement Plans - Schedule of Net Benefit Costs (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
United States
Defined Benefit Plan Disclosure
Interest cost	$ 66	$ 71
Expected return on plan assets	(68)	(64)
Recognized net actuarial loss	15	16
Net periodic pension income	13	23
United Kingdom
Defined Benefit Plan Disclosure
Interest cost	56	55
Expected return on plan assets	(94)	(83)
Amortization of prior service costs and transition amount	6	6
Recognized net actuarial loss	8	3
Net periodic pension income	$ (24)	$ (19)

Retirement Plans - Schedule o_2

Retirement Plans - Schedule of Costs of Retirement Plans (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Defined Contribution Plan Disclosure
Expenses associated with contributions made	$ 908	$ 937
United States
Defined Contribution Plan Disclosure
Expenses associated with contributions made	551	614
Canada
Defined Contribution Plan Disclosure
Expenses associated with contributions made	76	62
United Kingdom
Defined Contribution Plan Disclosure
Expenses associated with contributions made	$ 281	$ 261

Commitments and Contingent Li_2

Commitments and Contingent Liabilities - Narrative (Details) $ in Thousands		3 Months Ended
	Mar. 13, 2019 USD ($)	Mar. 31, 2024 USD ($) party	Dec. 31, 2023 USD ($)	Sep. 30, 2021 USD ($)	Mar. 26, 2020 party	Jun. 05, 2017 company
Product Liability Contingency
Litigation settlement amount warded to other party		$ 8,000
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 | 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		$ 2,398	$ 2,417
UPRR
Product Liability Contingency
Annual commitment amount	$ 8,000			$ 6,000
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