FSTR - Earnings call transcript Q1 2024

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Operator

Good day, and thank you for standing by. Welcome to the Q1 2024 L.B. Foster Earnings Conference Call. At this time, all participants on this known mode. After the speaker's presentation, there will be a question-and-answer session. instructions]. [Operator that being advised conference today's be recorded. is Please turn over Schmidt. to would now speaker conference to like Stephanie I your the for today, Please go ahead.

Stephanie Listwak

Foster's Schmidt, the Good welcome Investor Relations Earnings Thank everyone, company's My First L.B. Call. Stephanie operator. XXXX Quarter is you, name Manager. of morning, to and

perspective John Financial the developments first President results, quarter Our Chief market CEO, call company's this first will will financial perspective the his comments. then review Thalman, outlook company results. provide Kasel; Bill John providing quarter performance. closing Bill and and on business morning. operating first start will We'll be with in developments our and and the Officer, quarter on presenting his outlook our company's market John

open presentation, Relations session lbfoster.com. Today's website and the earnings release this questions. for accessed along Investor page be disclosures, can our on then were on slide financial up our morning at We posted our with will and

earnings slides Our comments this the morning the will in presentation. follow

Some the markets and laws. revisions are statements we obligation or our our These presentation, statements forward-looking the required of view today. these opinions light release securities any this to by forward-looking our new reflect current in information, no date we publicly of and and as business results of of represent of undertake are only to revise making statements except as

our and assumptions and release uncertainties see our in forward-looking disclosures to risks, relating detailed more For earnings please the presentation. statements,

carefully consider to metrics. our provided today's within within We earnings our and will financial tables as reconciliation these also disclosures earnings and encourage you non-GAAP and presentation read discuss metrics release you accompanying

call over So with that, me let to John. the turn

John Kasel

continuing call. highlight us for everyone. hello, #X, to quarter our you which progress on Slide materials the to to Thanks, this reflect momentum to transformation. our first turn [Indiscernible] Stephanie, joining strategic today Please for quarter and Thank earnings

improved delivered organic our the to prior quarter strong XX.X% by with Rail an quarter exceptionally segment. over sales First year,

and America margin business, at were in XX.X% performance the in Technology XX.X% basis. and United impacted drove XX Solutions strong business Kingdom. ending improvement, and up The adversely flat Services profit estate, profitability the sales with were rail fact, gross winter basically observed improvement on real adjusted improved The North driven organic by precast was during sales a somewhat a markets. was the in Infrastructure both XX.X%, overall in conditions in with point approval results coupled segment year-over-year In delivered which organic sales by challenging as year-over-year. quarter an soft EBITDA increase basis

market remains improve we the to Infrastructure robust our construction through continue and in However, demand segment, expect as to season. move results we

insurance funding our and to $X.X with million increased versus growth support annual net [Indiscernible] last million our year bonuses reflecting important working net quarter, was to note to during It's to the As that our ratio X.Xx debt of the year-over-year. along gross the leverage expected, $XX.X sales increased debt capital premiums. and down

translating lead strategic million, is of million divestitures $XX million has business, due $XXX balance to to improved was is mentioned year last fulfillment venture sequentially rail healthy Backlog at a distribution growth decline in sold in Noting excluded $XX.X proceeds. The on an quarter. sales increase Order level. approximately order times, XX.X% from and with in for rates [Indiscernible] is that in announcement, The first [Jason] associated lower organic which gain the adjusted $X.X quarter increasing property which the year. pre-COVID last largely million joint XXXX. [associated] remains our As basis. X% for net our the versus order to down our completed EBITDA we recovered to former book at due

end the closing years come cover will QX, detailed on are and achieve XXXX our and start line financial the at back Bill expectations, I'll growth our you, believe with Over now year financial remarks the for strong reaffirmed the some we we our on our X Bill. outlook. established with over financials to in to track ago. guidance our XXXX to With markets and

William Thalman

Thanks, John, my Slide our morning, consolidated and begin on good comments everyone. #X. covering quarter first I'll on highlights

the measures a more the appendix certain for our today's As including reminder, schedules detailed call. on quarter, in information provide on results the non-GAAP financial discussed

moves strong, the in mentioned with the strategic in line results our of of of business end by were Chemtec Portfolio of and opening at the the John year As organic completed moves driven quarter map. end ties our the at and QX sale remarks, sale road the portfolio first growth we both last include his QX. made concrete

product our X.X%, year, line provide performance In exit on of XX.X% product reviewed of over QX. base personnel the mix. and the flat the to and improvement costs last growth these organic Cougar up the points, million, Bridge was consolidated Precast results in Bridge basis our acquisition prior quarter the uplift XX.X%. to presentation we throughout we into by strong as XX actions while announced also drove the services $X benefit general driven Gross organic in deck the of and for Rail margins the infrastructure which segment, the increased a Mountain well actions. was improving Selling, driven -- due organic insight margin year today's of an results and administrative business, Net excluding sales The rail Organic basis improved professional completed QX, portfolio addition, primarily the up in sales portfolio with year-over-year. were sales were essentially as costs. expansion profit by

adjusted XX.X%. of income on property. percentage totaling gain was up excluded versus million Magnolia, for the the SG&A million value Net XX sale. sale million, the X the EBITDA realized of last sales, quarter property equal the sale $X.X quarter, property as realized net of year. after The from the to which was gain The was proceeds book the to the a XX.X% time included gain received down $X.X carried points the basis net on for was the net a $X.X as Texas However,

million bridges the decreased The in related million lower both adjusted highlights to organic quarter despite infrastructure, coupled activities on the year X $XX.X backlog the EBITDA XX.X% impacts X.X%. the increase in with with M&A presentation. QX Notably, additional provide and organic up The later quarter $XX.X by growth cash side I'll $X.X of seasonal revenue net bridge some left and on highlights and the on side used strong or improved The profitability segment the color incentives adjusted prior due and the realized due needs, for reflect organic representing $XX.X with The profitability premiums. delivered sales. leverage EBITDA EBITDA year. coupled growth. higher strong impact million the As the organic for was right a the tempered The orders on M&A sales annual sales for funding activities $XX.X drivers. from in Slide decline insurance capital and million activities SG&A. operating versus and working portfolio-driven was last million was to sales on organic M&A the in from on growth bridge expected,

as EBITDA, sales last sales made for XXXX. years. execution improve adjusted X.X% over X in to uplift in We we've the of net ended our growth sources The for X a sales XX, and resulted trailing X impact highlights margin X% quarters growth the expansion strategic progress point the March see our in quarter. will adjusted Overall, improvement a expect the Slide the resulting from of year basis we're the in organic profitability progresses. XX pleased to

period Of averaged course, high point. this of with reported portfolio growth result a XX% includes same approximately quarter per Organic work. this XX.X% being realized the the impact time quarter our over the

increased in XXX improvement Over in adjusted point margin trailing to basis the XX.X%, quarters, gross gross X adjusted XX.X%. a resulting profit

transformation in outlook margins our given to demand of of in believe structural We're have XX% work adjusted improvement will our impact and profile profitability result infrastructure pleased very a the see gross quarters. continue end deliver initiatives, of business and the the our As our gross to from our each improving the last portfolio in exceeded of results margins X margin markets. the

the couple our quarter, performance slides, the on Rail the segment segment I'll next of with Slide starting Over cover in XX.

points year, up sales Rail with in some pleased domestic as included decline from results business. Products the was modest units. last recovery $XX.X We're organic and divestiture. by growth uplift the basis both from the Rail Solutions TS&S Technology strength driven Services margins Pie the which especially the segment were U.K. year-over-year Strong as TS&S, a business were First over million an XX rail up quarter in revenues well X.X% realized rail the business totaling XX.X% including of XX.X% & of in safety

driven primarily increased orders products. rail year-over-year XX.X% New by XX.X% sequentially, rail and

meaningful due Last orders lead primarily $X.X levels this rail decreased versus $X.X sales and a in to year, resulting lower divested and million, products, business relatively year's backlogs XX.X% is fulfillment improved the growth backlog level. backlog decline last respectively. in concrete million with with were ties associated times While order and shorter

or Segment Solutions $X.X decreased million Turning XX.X%. to Infrastructure Slide on XX. revenue

last precast due over impact changes of basis project the were in primarily by on due Organic weather a concrete. sales steel the offset flat of growth was product portfolio up activity. conditions profit was to Gross with the installations and prior XX.X% XX.X% were decline products points adverse customer Strong However, months. exit the and divestiture to relatively year. to X% margins XX executed XX line over increase

orders was decrease, a exit year. $XX.X $XX.X liquidity were million million million I'll contributing our see to the on Net and metrics last pleased now net million, gross were of continued activity leverage decreased prior ratio to XX. in reflects due of line Backlog the compared debt M&A New leverage $X.X down quarter debt million, decline metrics which X.Xx. our from and gross activity. cover divestiture and year totaling levels $XX.X $XXX.X improvement our to We and product million a $X.X with million. $X.X Slide decreased leverage

during As leverage manage bonuses year remain annual around the our Xx an both net We leverage working uptick expected, debt capital-light prior saw in as well cash over ability and model the insurance our capital gross to business quarter fund improving metrics our in as outlook. term premiums. generation long incentive seasonal and confident given needs we to and

be of We outlook in under seasonal use we flow remain our progresses. that's guidance quarter, February to free had Cash operations through key continue our generation of operating the a our to will as from should we flow settlement available during confident of continuing million of XXXX. $XX.X $X including the throughout final capital of cash the Pacific of priorities buyback million XXXX, summary, drivers agreement. million along our million and I'll XX. Union improve the cash of authorization believe with original to free expect the $XX allocation in which in program strong cash outlined next typical flow still includes $XX.X In deployed are beyond. million the While capital revisit execution year improve and the share the along priorities, sustainable we million allocation patterns prudently Slide balance owed $XX cash place XXXX on $XX

As comfortable with Xx, gross investing platforms. I while continue to investments Capital Rail managing levels complete from around high the slightly average, X.Xx see we in organic precast completion our down on to opportunities in higher leverage leverage spending X% just in in than around on growth acquisitions historical XXXX. is sales the mentioned, of to We're is Technologies focus and after -- run which of is growth the our opportunistically recent to point of we expected X.X% which levels summer seen due concrete. X

we XXXX, inception program stock price an its repurchase the we've in through of cash As or shareholders been outstanding and since at of to shares X.X% repurchasing average evaluate per to share. return to before, continue approximately shares XXX,XXX mentioned our $XX.XX February opportunities active of

product the comments closing book-to-bill The over business. that book and to will strong a our orders, as was at was backlog as allocation free acquisitions rates which order finally, to by XX, end Cougar consider prospects We Slides such growth platforms, softer completed for somewhat within cash XX option revenues dividend X.XXX, is lead we and our stronger fulfillment times. Mountain last portfolio to the XX tuck-in refer and My small acquisition of continue a that improved. to the flow as the continue evaluate covering recent due improved months can capital And extend the XXXX. ratio

due line on on X% in times First XX.X% improving quarter a highlighting sequentially an levels. did the up both rates reflects And improved order healthy product basis, an year-over-year execution. exit order demand were with and divestiture improve Slide our with XX decline lead lastly, to and fulfillment activity, level consolidated organic the and trend backlog coupled

level, timing the backlog in portfolio by rates rail As large across for order primarily offering. and growth our remain and distribution will backlog expect swings strong to of Despite time, optimistic our the driven and progresses. past, product it improving order year prospects this now the longer-term summary, the demand start the we are susceptible mentioned balance to in your to and forward lower and the I'll look in our remarks. this to pleased In XXXX Thanks for backlog hand closing John? for as into translate the with throughout John year. we're back over progress continuing

John Kasel

Thanks, business our drivers XX and market key Bill. of Slide our Please for to turn overview an underpinning outlook.

some on realized infrastructure several to in project-related trend end that from we growth In to expect markets are segments, over and and the beyond. U.S. given we excise programs the federal particularly business XXXX, both to going through prospects We again continued approved investment. continue and last years, longer-term our XXXX optimistic for

[real this continue. addition, trend total driver will favorable and technology in track programs In is monitoring emphasis [Indiscernible] for XXXX products our demand seen on uplift business. for our in safety] an another We've

finally, Foster pillars. expect as development. rehab to are outlook by CXT markets [Indiscernible], and for supported thesis come. strong for signs modest our U.K. favorable to Concrete to And robust overall funded the government American showing regional We the have and Outdoors summary, prospects We segment. for as for long-term estate record is investment the should the continues believe that bridge cycle buildings. of growth X infrastructure investment On sustainable a by challenging demand improvement and parks our and stabilized we optimistic In real XX, Great with L.B. our profitable recreational also Slide for for after campgrounds is emphasize spending Coupled of the construction key residential drive funding well projects road demand on cautiously commercial strongly Infrastructure for years I'd remain super which like XXXX.

resulting quarter First, to in continuing portfolio, in delivered structural the necessary as the evidenced steps we've strategic by results. taken business XXXX our and improvements that were are transform in profitability first

programs our served started needed growth. through XXXX pure for also are this clearly we Second, to the growth multiyear we organic strong strategy again in belief our presenting reported play infrastructure that will and growth year It's with and [Indiscernible] health investment that with in markets.

with the cash flow our completion favorable Third, should in capital-light improved more business disciplined and have profitability Fourth flow drivers of with XXXX payments improving Pacific cash the deployed and process coupled shareholders for finally, and our we all returns. as creating in the value exceptional have equity our provide that been and year allocation model, settlement in Union a even later this our evidenced capital future. multiple with

and pillars our believe our beyond. XXXX improving and we is these should along summary, in results through So strategy sound X execution deliver

With confident future. pillars prospects these the place, in for in we're our

everybody year. the Russell potential L.B. even remind Slide I'll index on the XX, closely we wrap back to XXXX be for added Foster on to this call I As today's monitoring

as measurement over market Tuesday, $XXX Index date Our cap was cutoff year market the and the approximately the time XXX% up last million. period approximately was over up last cap million, same of last XX.X% was $XXX year.

index, this inclusion Given our to on later the month. the we published equity performance for be once believe list relative we'll

profile Day. we for and Investor to up map profitability the transactions set infrastructure [Indiscernible] X.X robust back, strategic capture business improved years rolled XXXX. transformation through in align road the our been structure, simplified our At markets. goals business and X since Looking it's our that a completed time, demand our aspirational

and the our guidance journey have reaffirmed our progress to clear sight with continues. a XXXX. We of pleased that are for goals XXXX line the for We

by for Our the team the we indeed, is no energized future. prospects Yes, have momentum.

employees As injury. Lipper XXX,XXX leads group I to hours employee this in worked this end the of over who This estate today's our time Real Congratulations will production I with all quarter and record a on Greg call call, this made entire the happen. started topic first the with that recommission to safety. group

in And thank with to turn and Foster. time you, the for it you Q&A I'll interest So for operator, [Indiscernible] session. L.B your that, back

Operator

you. Thank

[Operator As instructions]. a reminder,

Securities. be today first Rygiel Our from Riley Alex question will coming of B.

Your open. is line

Alexander Rygiel

good morning, Thank gentlemen. and you,

So here. a quick couple of questions

First change was But year that. on off, early. very our understanding there guidance no quarter. full nice Congratulations it's to and

Did any first strong. are was see quarter? in you new of given quarter First activity where forward? of kind is kind Or pull really the just staying you conservative the order

John Kasel

feeling And thought pretty about. a have most QX is, the it QX. But that you Yes. order We the activity that did the -- experiencing we're activity a said out but markets nice results today. in Actually, of be of we like there's bit guidance we're cautious QX. we're that being moved pretty little is may in good giving start, in of a into lot we're some market. nice headwinds our earlier, We're and

Alexander Rygiel

your Fair [Indiscernible]? on bit relates enough. it shorter you little more about a And times, lead into and then go can that as detail comment to

John Kasel

is Yes, book. and distribution, basically thing. gave have is specifically kind stressed or It's out past, the impact the were normal to a because order But the the we will, And often a I in that us or, real don't good in that greater we to to the did times capacity from you chain just bidding of did a had resulting thing past, that. extended pretty they in past. It because being us. you so, a and they for as mentioned orders build the that's but customers We're what if to levels. the rate lead in built appreciate a the Yes, supply I that and we've us get rate with visibility still steel less as in a order -- good, pre-COVID orders [SIPCO], need coming back provider. good which backlog in conditions, in place little the X months to so the seen back and mill, last or

So normal. much we better today. we're to It's more at back feel where about much

Alexander Rygiel

capital you And then expect managed clearly, allocation, CapEx decent flow lastly, to sort and cash being is as relates it year. maintained. of pretty this a

capital free allocate suspect towards that's to here some I up M&A. going So to

that if about maybe and a debt bit future could how talk So using think transactions. about you little stock and you M&A and

John Kasel

as well. Bill start, in and join I'll I'll let

to First of X% X.X% play. sales our mentioned we're capital all, Bill is of

make side. can, that X think see, our We the with light we're and to measured, itself our So that heavy guidance from really to sure Union and really off our feel with hit went did things, X move process We we a of segments critical. But and that just the to back mentioned. in the last something which through then as respect We're the on bring including right few lot -- X And now, changes you on very is very do as of this get pretty things then and where execution we're your forward. it's lifting now, comes mentioned, A are settlement we cash year we on to only I years. been is segments getting deals X.X what building question, about and that needed in men have the us, right M&A safety and we portfolio. balance the powder like flow the and has margins. we our about to payments Pacific. especially better, some capital beneficial dry with for work focused things we we really improved $X platform. excited women results the when million Cash monitor. doing That's by we'll good Free we there as go making is capital and we it from at quite

that the top there, platform, in mind put lined XXXX, years line growth the is ago bottom up that out With X.X that and in building numbers to that. put building we we

far crazy we're as M&A get too not So to going as work.

up core think what today credibility our things comp marketplace make cash including on a interest our we and to Bill, look and let very showing And in the the are, profitability built I'll on at it are, lot in in your chime is thoughts in said, the that really building focused dividend, in investors' that will company. our we you what of the I back the continue future. the perhaps situation. That maybe we

William Thalman

get then will opportunities 'XX us the stock repurchase be we're this of obligation longer in we the this Yes. a from 'XX greater that's discussion be million, today. John's investing jump we guidance guess after with is run something million free rate point, that's expect Board flow in with of expecting will year, the our I $XX $XX will actually the a than organic Yes. year, continuously and stronger is $XX are that and cash some last prospects I great say where going cash term year. the to to and a the we're that away had CapEx million And to we the in with flows the year last cash when flow And little XXXX, would And year attention help doing $XX would those think UP a make dividend of continuing. guidance. around I of because programs, higher million over what that's right

to good make the look direction progress this feeling continue forward we're and about to year. So going

Operator

[Operator of your from [Bake] instructions]. open. is Research next The Singular coming Chris question line is

Joichi Sakai

on trends. I had question a backlog

the it understand levels help to? throughout you do a mentioned going to Can year. what improving you see give sense You it see or as us you

John Kasel

give to QX backlog our activity be for to we necessarily, we able enough I very reconfirm good year. have entire right of quarter-to-quarter to look activity is. the you very, sequentially, very know know the we from when year-over-year. even company, this in QX is don't our across guidance now All and first upending about rail uptick activity strong I all, the the both versus in and Well, bidding the don't guidance and mean, at what infrastructure I activity feel side. is

Joichi Sakai

looks comment It growth. rail there? good revenue Okay. were what had you a quarter like on Can the main for drivers Great.

John Kasel

performance mentioned and it We the while. a that in strong the performance as rail I a I'd say longer. very actually including very had I remarks, a have my haven't been U.K. of quite good -- in segment, might in entire rail year, said even

really that and much conditions of something rightsizing is going better The to great over come about as job through on, done stabilized we has what year-over-year the and going feel saw market forward. there in we team just has that U.K. So the a first quarter.

Our acquisition we also a made very nice been over there very, profitability. scratch with had quarter good

effectiveness and very, as that run measures efficiencies and through. with freight that So the as fantastic the year, And America our introduction a piece see. X], how are well strong customers trains off as business, their the really of a customers their product page have with monitoring helping the on can jumping our specifically as far had going that of at the is [Wild operational customers, operations. is we looking year salient we safety as they're specifically and safety track transit to in market, the continue to manage very Mark to in came as our well on, condition the and other that the going They've here to keeping really the related train start North

seeing us this we're migrating right U.K. the technology, Western and the from space. the excited the couple been technology and on years, So moving really North we're America, the rail the last very fruits about in things working in Europe company really now the that of has labor of our and the innovation,

anything coming that's giving order in So profitable dollars with as margin se, grow the really exciting us per be really much business something but backlog and significantly. this may else. through to backlog do It gross coming dollars, as us through to it's not to a opportunity a

this point from looking we beyond. of to view, together a strong be we're So at to where put and QX time, and expected that

Operator

for next the our question from from moment next coming Gabelli question. Justin is Funds. [Bergner] One And

Unknown Analyst

Quarter. Nice

of Just a couple questions.

estimated tough and the impact sort side, of in infrastructure quantification any weather the of sales of on the On quarter? EBITDA

John Kasel

We gave myself the customers, just related put number a quite between of you kind -- to in construction I areas actually geography you to often improve. the really was talking I as to bit paper snow it product And built had will to spring [Indiscernible]. Yes. we that. really dry it. pen ready this on and didn't go. the rain quarter Maybe, that of of a out, lousy a couldn't a and things put was Bill,

William Thalman

the the Infrastructure. business a was We for business. quarter, in on feel to Just order the back lion's to order the would get second decline within weather is say going impact. magnitude, get of was business precast good give you but down precast we hi, We've $X track -- which a book got Justin, we're position was just unit just on And million. basis, to XX% like year-over-year about the to that about to share year-over-year the that of attributable due the

Unknown Analyst

seeing on that might rates? or impacts you are precast And the negative, Okay. still negative Or macro is be very higher side positive any interest guess, I manageable?

John Kasel

supply the of to chain And back mentioned availability getting related and on to cement concrete normal. the No. No, as manageable. supply very the normal, back getting rail to side, is I chain,

that limit So that's allocations good for the The were that situation there our improved very very, in past dramatically. us. has ability perform, can to

need booming, very Texas in very, to and concrete. the the for Southeast well Our are markets related down doing

capacity we'll So pushback can see long contrary, full -- running opposite. at the running as that the on we're we the marketplace. or products any of we don't see. We're To providing the in as be type concrete

Unknown Analyst

great. That's Okay.

of gross or side, on there the be would Is understand function On to rail guess of wasn't type me you improvement that just sales a this margin there's being margins help much mix -- with sales or growth normally? very modest flat gross I margin, expect strong. some

John Kasel

the numbers, bring is to through project and effectively. right. the now that to mix after a in management actual chemicals that's get we to it we'll And I'll type the friction the that's see profitability. nice product came providing anymore, [Indiscernible] nice them the share, Yes, supply it's Bill thing that but little be [Indiscernible] It's big -- now. up the a the got the we Yes. we respect down which products with but the that's picture. get But bigger that we by whole in right work definitely like monitoring typical around coming package and dilutive the it's really helps boost If condition just a things play the type up do. is rail will selling not be components, work that, details rail behind our let year, them the rail treatments into that, bit company about this margin and on is you the moving the will we for revenue monitoring, run thing of give components devices the they're other components,

mix more that's will will is which business and into it of -- really get that QX, we'll as more color to but impactful. even come in the more want QX So where out be season, Bill, and to add most the done we the work the any of rail leveraging in of is you actual uplift see that?

William Thalman

million on year-over-year a basis. have on saw the across where was the gross growth the the guess highlighted year-over-year growth of John. what the lowest is that profile, we terms profit were margin -- by basis, I Thanks, to products Yes. $XX they that that's Rail about up would business the tempered The I in And which rail a dollars, highlight saw would that's XX%. have segment within we portfolio, Yes. going

basis, is hand, strong the element On -- product about steel on growth the of TS&S, technology had the other portfolio which a really year-over-year sorry, XXX%.

as are point the business margins component well. they're dollars of their from the and view, a much smaller stronger Now of

that Products portion strength of So the margin a that the Rail the a really view, to on the saw we year-over-year from is in percentage contributed but lift the point what of business performance basis. tempered

Unknown Analyst

Okay. last question on Got it. then rail. And just one

quarter amidst working So but first very return growth a a revenue it but in seems times of you're to saying increase the what [Indiscernible]. some like good of was in normal, down backlog still there's rail, lead good the is as function

William Thalman

Yes, that's right.

Operator

questions remarks. to more instructions]. and back the would in there John closing [Operator like you time, over turn call would no the go At like Please this for ahead. queue, to Thank ask questions, I are to

John Kasel

you, Thank everybody's of part today's We for Lisa. a being appreciate call.

to in remarks, had opening start we have XXXX exceptionally said I and momentum. we strong my As

So we we're about today. really at good where feel

focusing and results It's of was do to company safety value a tough -- of we is couple I of driving And this fun work our a but testament this the [Indiscernible] makes happen. -- ahead what a today. years to when set core do, as appreciate really well year. coming and off exciting we earlier we've example the a making quite the that We rowing us as the bit really Directors, I coming the of goals to our Board of to of And place The a kind together as a happen. company, been And profitability well together have together a group, moving everybody company been important, that's put for return company. of the boat that start with shareholders. efforts us that to really on together of the of our see off the to the have our are something aspirational to everybody much it's everybody's so great great things focusing our And together. performance. employees as on time safety work hit really really to to last we're make mentioned of

where the understand as behalf about we're and at to investors thanks we're well working Thanks are today saying we the on So to everybody. future. to good and company into keep your [Indiscernible], as going feel

So talking day, to Have you look forward we wonderful after to and QX. thanks a again.

Operator

This does Thank joining. conference you for all today's conclude call.

now disconnect. may You

L.B. Foster (FSTR) 7 May 242024 Q1 Earnings call transcript