0000352825-24-000217 | 10-Q | XBRL Viewer

Inventory

9 Months Ended

Sep. 30, 2024

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:


	September 30, 2024		December 31, 2023
Finished goods	$	45,582	$	44,518
Work-in-process	2,952		4,675
Raw materials	25,343		23,918
Inventories - net	$	73,877	$	73,111

Pay vs Performance Disclosure - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
Pay vs Performance Disclosure - USD ($) $ in Thousands	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Pay vs Performance Disclosure
Net income attributable to L.B. Foster Company	$ 35,905	$ 515	$ 43,188	$ 1,894

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References

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+ Details

Accounts Receivable - Schedule of Accounts Receivable, Allowance for Credit Loss (Details) $ in Thousands	9 Months Ended
	Sep. 30, 2024 USD ($)
Allowance for Doubtful Accounts
Allowance for doubtful accounts, beginning balance	$ 809
Additions to the current period provision	792
Write-off against allowance	(36)
Recoveries of previous write-offs	(263)
Allowance for doubtful accounts, ending balance	$ 1,302

Stock-Based Compensation - Narrative (Details) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Share-based Compensation Arrangement by Share-based Payment Award
Stock-based compensation	$ 788,000	$ 928,000	$ 3,135,000	$ 2,757,000
Expected cost on shares expected to vest	$ 6,163,000		$ 6,163,000
Recognition period for compensation expense not yet recognized			2 years 3 months 18 days
Omnibus Plan and Equity and Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award
Stock-based compensation			$ 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

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) (Parenthetical) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Statement of Comprehensive Income [Abstract]
Unrealized gain on cash flow hedge, tax	$ 0	$ 0	$ 0	$ 0
Reclassification of pension liability adjustment to earnings, tax expense	$ 5	$ 1	$ 12	$ 5

Retirement Plans

9 Months Ended

Sep. 30, 2024

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.

On May 23, 2024, the Company’s Board of Directors approved the termination of our frozen L.B. Foster Company Merged Retirement Plan (the “US DB Plan”) and the Portec Rail Products (UK) Limited Pension Scheme (the “UK DB Plan”). The transfer of plan assets and obligations to insurers and subsequent terminations are expected to be completed by December 31, 2024 for the US DB Plan and by June 30, 2025 for the UK DB Plan, subject to the finalization of agreements with insurance companies.

The Company’s US DB Plan is underfunded as of September 30, 2024, and will require cash payments of approximately $2,000 to $2,500 to effectuate the termination. The estimated cash payments are subject to change due to changes in market conditions that can impact the return on plan assets that are held by the US DB Plan and the UK DB Plan. The UK DB Plan is fully funded as of September 30, 2024, and we do not expect any additional contributions to be required during the termination process.

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 September 30,				Nine Months Ended September 30,
	2024		2023		2024		2023

Interest cost	$	66	$	71	$	198	$	214
Expected return on plan assets	(68)		(64)		(204)		(192)
Recognized net actuarial loss	15		16		45		47
Net periodic pension cost	$	13	$	23	$	39	$	69

The Company has made contributions to its United States defined benefit plan of $356 during the nine months ended September 30, 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 September 30,				Nine Months Ended September 30,
	2024		2023		2024		2023
Interest cost	$	57	$	56	$	171	$	168
Expected return on plan assets	(95)		(84)		(285)		(252)
Amortization of prior service costs and transition amount	6		6		18		18
Recognized net actuarial loss	8		3		24		9
Net periodic pension income	$	(24)	$	(19)	$	(72)	$	(57)

United Kingdom regulations require trustees to adopt a prudent approach to funding required contributions to defined benefit pension plans. For the nine months ended September 30, 2024, the Company contributed approximately $240 to the plan. The Company anticipates total contributions of approximately $334 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 September 30,				Nine Months Ended September 30,
	2024		2023		2024		2023
United States	$	698	$	728	$	1,968	$	2,135
Canada	39		36		149		131
United Kingdom	304		294		877		881
	$	1,041	$	1,058	$	2,994	$	3,147

- Definition

The entire disclosure for retirement benefits.

+ References

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+ Details

Inventory (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Inventory Disclosure [Abstract]
Finished goods	$ 45,582	$ 44,518
Work-in-process	2,952	4,675
Raw materials	25,343	23,918
Inventories - net	$ 73,877	$ 73,111

Earnings Per Common Share (Tables)

9 Months Ended

Sep. 30, 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 per common share for the periods indicated:


	Three Months Ended September 30,				Nine Months Ended September 30,
	2024		2023		2024		2023
Numerator for basic and diluted earnings per common share:
Net income attributable to L.B. Foster Company	$	35,905	$	515	$	43,188	$	1,894


Denominator:
Weighted average shares outstanding	10,718		10,813		10,757		10,804
Denominator for basic earnings per common share	10,718		10,813		10,757		10,804
Effect of dilutive securities:
Stock compensation plans	274		160		302		91
Dilutive potential common shares	274		160		302		91
Denominator for diluted earnings per common share - adjusted weighted average shares outstanding	10,992		10,973		11,059		10,895


Basic earnings per common share	$	3.35	$	0.05	$	4.01	$	0.18


Diluted earnings per common share	$	3.27	$	0.05	$	3.91	$	0.17

Restructuring Costs - Narrative (Details) - USD ($)	3 Months Ended	6 Months Ended	9 Months Ended	12 Months Ended	24 Months Ended
Restructuring Costs - Narrative (Details) - USD ($)	Sep. 30, 2024	Jun. 30, 2024	Sep. 30, 2024	Dec. 31, 2024	Dec. 31, 2025
Restructuring Cost and Reserve [Line Items]
Restructuring costs	$ 909,000	$ 0	$ 909,000
Total expected costs remaining	471,000		471,000
Cost of Sales
Restructuring Cost and Reserve [Line Items]
Restructuring costs	69,000		69,000
Selling, General and Administrative Expenses
Restructuring Cost and Reserve [Line Items]
Restructuring costs	840,000		$ 840,000
Restructuring Legal Expense
Restructuring Cost and Reserve [Line Items]
Restructuring costs	$ 0
Forecast
Restructuring Cost and Reserve [Line Items]
Annual run rate savings				$ 2,000,000	$ 4,500,000

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References + Details

Retirement Plans - Narrative (Details) $ in Thousands	9 Months Ended
Retirement Plans - Narrative (Details) $ in Thousands	Sep. 30, 2024 USD ($) plan
Defined Benefit Plan Disclosure
Defined contribution plan number \| plan	5
United States
Defined Benefit Plan Disclosure
Number of retirement plans \| plan	3
Number of defined benefit plans \| plan	1
Defined contribution plan number \| plan	2
Defined benefit plan, contributions by employer \| $	$ 356
Defined benefit plan, expected future employer contributions, current fiscal year \| $	370
United States \| Minimum
Defined Benefit Plan Disclosure
Cash payments expected to effectuate the termination of the plan \| $	2,000
United States \| Maximum
Defined Benefit Plan Disclosure
Cash payments expected to effectuate the termination of the plan \| $	$ 2,500
Canada
Defined Benefit Plan Disclosure
Defined contribution plan number \| plan	1
United Kingdom
Defined Benefit Plan Disclosure
Defined contribution plan number \| plan	2
Defined benefit plan, contributions by employer \| $	$ 240
Defined benefit plan, expected future employer contributions, current fiscal year \| $	$ 334

Income Taxes	9 Months Ended
Income Taxes	Sep. 30, 2024
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes For the three months ended September 30, 2024 and 2023, the Company recorded an income tax benefit of $29,745 and $121, respectively, on pre-tax income of $6,153 and $326, respectively, for an effective income tax rate of (483.4%) and (37.1%), respectively. For the nine months ended September 30, 2024 and 2023, the Company recorded an income tax benefit of $29,110 and $99, respectively, on pre-tax income of $14,010 and $1,670, respectively, for an effective income tax rate of (207.8%) and (5.9%), respectively. The Company’s effective income tax rate for the three and nine months ended September 30, 2024 differed from the federal statutory rate of 21% primarily due to the change in valuation allowance previously recorded against certain U.S. federal and state deferred tax assets. When a change in a valuation allowance is recognized in an interim period, the change in valuation allowance resulting from current year income is included in the annual effective tax rate, and the release of valuation allowance supported by projections of future taxable income is recorded as a discrete tax benefit in the interim period. Accordingly, during the quarter ended September 30, 2024, the Company recognized an income tax benefit of $30,045 comprised of both a discrete tax benefit and change in the Company’s estimated annual effective tax rate arising from the change in valuation allowance. The Company continued to maintain a valuation allowance against deferred tax assets related to operating loss carryforwards in certain U.S. state and foreign jurisdictions. The Company regularly assesses the need for a valuation allowance against its deferred tax assets. A valuation allowance is required to be established or maintained, when based on currently available information and other factors, it is more likely than not that all or a portion of a deferred tax asset will not be realized. The Company has considered all evidence, both positive and negative, in assessing the need for a valuation allowance in each jurisdiction. The positive evidence considered in evaluating U.S. federal and state deferred tax assets included the Company’s cumulative financial income position over the previous three years, as well as the composition and reversal patterns of existing taxable and deductible temporary differences between financial reporting and tax. Based on its evaluation, the Company believed it was appropriate to rely on forecasted future taxable income to support its U.S. federal and state deferred tax assets. The amount of deferred tax assets considered realizable; however, could be adjusted if negative evidence outweighs additional subjective evidence such as the Company’s projections for growth.

- Definition

The entire disclosure for income tax.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
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+ Details

Business Segments - Schedule of Reconciliation of Revenue from Segments to Consolidated (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Segment Reporting Information
Net Sales	$ 137,466	$ 145,345	$ 402,582	$ 408,867
Segment Operating Income	7,323	1,617	17,461	8,856
Operating Segments
Segment Reporting Information
Net Sales	137,466	145,345	402,582	408,867
Segment Operating Income	10,043	4,665	24,557	16,463
Rail, Technologies, and Services
Segment Reporting Information
Net Sales	79,498	86,866	247,715	242,866
Rail, Technologies, and Services \| Operating Segments
Segment Reporting Information
Net Sales	79,498	86,866	247,715	242,866
Segment Operating Income	4,933	3,866	17,212	13,231
Infrastructure Solutions
Segment Reporting Information
Net Sales	57,968	58,479	154,867	166,001
Infrastructure Solutions \| Operating Segments
Segment Reporting Information
Net Sales	57,968	58,479	154,867	166,001
Segment Operating Income	$ 5,110	$ 799	$ 7,345	$ 3,232

- Definition

Amount, including tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value-added and excise.

+ References

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+ Details

Retirement Plans - Schedule of Net Benefit Costs (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
United States
Defined Benefit Plan Disclosure
Interest cost	$ 66	$ 71	$ 198	$ 214
Expected return on plan assets	(68)	(64)	(204)	(192)
Recognized net actuarial loss	15	16	45	47
Net periodic pension income	13	23	39	69
United Kingdom
Defined Benefit Plan Disclosure
Interest cost	57	56	171	168
Expected return on plan assets	(95)	(84)	(285)	(252)
Amortization of prior service costs and transition amount	6	6	18	18
Recognized net actuarial loss	8	3	24	9
Net periodic pension income	$ (24)	$ (19)	$ (72)	$ (57)

Accounts Receivable

9 Months Ended

Sep. 30, 2024

Accounts Receivable Additional Disclosures [Abstract]

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 were an expense of $0 and $732 for the three months ended September 30, 2024 and 2023, respectively, and an expense of $529 and $1,174 for the nine months ended September 30, 2024 and 2023, respectively. The changes in reserves for uncollectible accounts are net of recoveries of previous write-offs of $263 for the three and nine months ended September 30, 2024.

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
Additions to the current period provision	792
Write-off against allowance	(36)
Recoveries of previous write-offs	(263)
Balance as of September 30, 2024	$	1,302

Accounts Receivable - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Financing Receivable, Allowance for Credit Loss [Line Items]
Reserve for uncollectible accounts, expense			$ 792
Recoveries of previous write-offs			263
Selling, General and Administrative Expenses
Financing Receivable, Allowance for Credit Loss [Line Items]
Reserve for uncollectible accounts, expense	$ 0	$ 732	$ 529	$ 1,174

Goodwill and Other Intangible Assets (Tables)

9 Months Ended

Sep. 30, 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	738		—		738


Balance as of September 30, 2024	$	21,204	$	11,676	$	32,880

Schedule of Finite-Lived Intangible Assets

The following table sets forth the components of the Company’s intangible assets for the periods presented:


	September 30, 2024
	Weighted Average Amortization Period In Years	Gross Carrying Value		Accumulated Amortization		Net Carrying Amount

Patents	10	$	328	$	(206)	$	122
Customer relationships	15	28,672		(19,886)		8,786
Trademarks and trade names	14	8,045		(5,117)		2,928
Technology	9	32,786		(28,811)		3,975
Favorable lease	6	327		(118)		209
		$	70,158	$	(54,138)	$	16,020


	December 31, 2023
	Weighted Average Amortization Period In Years	Gross Carrying Value		Accumulated Amortization		Net Carrying Amount
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

- Definition

Tabular disclosure of goodwill by reportable segment and in total which includes a rollforward schedule.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 55
-Paragraph 24
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+ Details

Basis of Presentation (Tables)

9 Months Ended

Sep. 30, 2024

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Schedule of Error Corrections and Prior Period Adjustments

The impact of these adjustments are shown in the tables below. Note only line items that were impacted by the immaterial error corrections detailed above are included below.


	Three Months Ended September 30, 2023
	As Previously Reported		Adjustments		As Revised




Cost of goods sold	$	103,061	$	807	$	103,868

Total cost of sales	117,121		807		117,928
Gross profit	28,224		(807)		27,417
Selling and administrative expenses	24,160		261		24,421


Operating income	2,685		(1,068)		1,617




Other expense (income) - net	917		(1,068)		(151)


	Nine Months Ended September 30, 2023
	As Previously Reported		Adjustments		As Revised




Cost of goods sold	$	282,195	$	432	$	282,627

Total cost of sales	325,100		432		325,532
Gross profit	83,767		(432)		83,335
Selling and administrative expenses	70,111		249		70,360


Operating income	9,537		(681)		8,856




Other expense - net	3,463		(681)		2,782

CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS’ EQUITY (Parenthetical) - shares	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Statement of Stockholders' Equity [Abstract]
Purchase of common shares for treasury (in shares)	126,688	12,102	196,768	63,343
Common shares issues net of shares withheld (in shares)	1,206	0	120,387	91,316

- Definition

Number of shares that have been repurchased during the period and have not been retired and are not held in treasury. Some state laws may govern the circumstances under which an entity may acquire its own stock and prescribe the accounting treatment therefore. This element is used when state law does not recognize treasury stock.

+ References + Details

Revenue - Schedule of Sales by Major Product Line (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Disaggregation of Revenue
Total net sales	$ 137,466	$ 145,345	$ 402,582	$ 408,867
Rail, Technologies, and Services
Disaggregation of Revenue
Total net sales	79,498	86,866	247,715	242,866
Precast Concrete Products
Disaggregation of Revenue
Total net sales	42,688	38,642	97,730	96,795
Steel Products
Disaggregation of Revenue
Total net sales	15,280	19,837	57,137	69,206
Infrastructure Solutions
Disaggregation of Revenue
Total net sales	57,968	58,479	154,867	166,001
Rail Products \| Rail, Technologies, and Services
Disaggregation of Revenue
Total net sales	47,442	60,137	156,803	164,612
Global Friction Management \| Rail, Technologies, and Services
Disaggregation of Revenue
Total net sales	19,548	16,125	51,008	49,624
Technology Services and Solutions \| Rail, Technologies, and Services
Disaggregation of Revenue
Total net sales	$ 12,508	$ 10,604	$ 39,904	$ 28,630

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References + Details

- Definition

+ References

+ Details

Stock-Based Compensation - Schedule of Nonvested Share Activity (Details)	9 Months Ended
	Sep. 30, 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	24.69
Vested (in USD per share) \| $ / shares	14.01
Adjustment for incentive awards expected to vest (in USD per share) \| $ / shares	22.17
Cancelled and forfeited (in USD per share) \| $ / shares	15.19
Outstanding, ending balance (in USD per share) \| $ / shares	$ 15.61
Restricted Stock
Restricted Stock, Deferred Stock Units and Performance-Based Stock and Share Units
Outstanding, beginning balance (in shares)	264,970
Granted (in shares)	90,807
Vested (in shares)	(148,808)
Adjustment for incentive awards expected to vest (in shares)	0
Cancelled and forfeited (in shares)	(2,250)
Outstanding, ending balance (in shares)	204,719
Deferred Stock Units
Restricted Stock, Deferred Stock Units and Performance-Based Stock and 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-Based Stock and Share Units
Outstanding, beginning balance (in shares)	560,338
Granted (in shares)	86,772
Vested (in shares)	(29,778)
Adjustment for incentive awards expected to vest (in shares)	(24,165)
Cancelled and forfeited (in shares)	(437)
Outstanding, ending balance (in shares)	592,730

Stock-Based Compensation (Tables)

9 Months Ended

Sep. 30, 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 Stock	Deferred Stock Units	Performance-Based Stock and Share Units	Weighted Average Grant Date Fair Value
Outstanding as of December 31, 2023	264,970	12,404	560,338	$	14.10
Granted	90,807	—	86,772	24.69
Vested	(148,808)	—	(29,778)	14.01
Adjustment for incentive awards expected to vest	—	—	(24,165)	22.17
Cancelled and forfeited	(2,250)	—	(437)	15.19
Outstanding as of September 30, 2024	204,719	12,404	592,730	$	15.61

Business Segments - Schedule of Reconciliation of Operating Profit (Loss) from Segments to Consolidated (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Income from operations:
Total segment operating income	$ 7,323	$ 1,617	$ 17,461	$ 8,856
Gain on sale of former joint venture facility	0	0	3,477	0
Interest expense - net	(1,358)	(1,442)	(3,976)	(4,404)
Other income (expense) - net	188	151	525	(2,782)
Public company costs	(1,327)	(1,371)	(4,167)	(3,244)
Corporate executive management costs	(839)	(760)	(4,131)	(2,281)
Corporate management stock-based compensation	(339)	(587)	(1,818)	(1,735)
Other	(215)	(330)	(457)	(347)
Income before income taxes	6,153	326	14,010	1,670
Depreciation/Amortization:
Depreciation/amortization	3,486	3,839	10,562	11,568
Expenditures for Long-Lived Assets:
Expenditures for long-lived assets	3,067	1,289	7,834	2,784
Operating Segments
Income from operations:
Total segment operating income	10,043	4,665	24,557	16,463
Gain on sale of former joint venture facility	0	0	3,477	0
Depreciation/Amortization:
Depreciation/amortization	3,019	3,373	9,172	10,214
Expenditures for Long-Lived Assets:
Expenditures for long-lived assets	2,816	879	6,865	1,945
Unallocated corporate assets
Depreciation/Amortization:
Depreciation/amortization	467	466	1,390	1,354
Expenditures for Long-Lived Assets:
Expenditures for long-lived assets	$ 251	$ 410	$ 969	$ 839

Business Segments (Tables)

9 Months Ended

Sep. 30, 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 September 30, 2024				Three Months Ended September 30, 2023
	Net Sales		Segment Operating Income		Net Sales		Segment Operating Income
Rail, Technologies, and Services	$	79,498	$	4,933	$	86,866	$	3,866
Infrastructure Solutions	57,968		5,110		58,479		799

Total	$	137,466	$	10,043	$	145,345	$	4,665


	Nine Months Ended September 30, 2024				Nine Months Ended September 30, 2023
	Net Sales		Segment Operating Income		Net Sales		Segment Operating Income
Rail, Technologies, and Services	$	247,715	$	17,212	$	242,866	$	13,231
Infrastructure Solutions	154,867		7,345		166,001		3,232

Total	$	402,582	$	24,557	$	408,867	$	16,463

Schedule of Reconciliation of Operating Profit (Loss) from Segments to Consolidated

The following table demonstrates a reconciliation of reportable segment net profit to the Company’s consolidated total for the periods presented:


	Three Months Ended September 30,				Nine Months Ended September 30,
	2024		2023		2024		2023
Income from operations:
Total segment operating income	$	10,043	$	4,665	$	24,557	$	16,463
Gain on sale of former joint venture facility	—		—		3,477		—
Interest expense - net	(1,358)		(1,442)		(3,976)		(4,404)

Other income (expense) - net	188		151		525		(2,782)


Public company costs	(1,327)		(1,371)		(4,167)		(3,244)
Corporate executive management costs	(839)		(760)		(4,131)		(2,281)
Corporate management stock-based compensation	(339)		(587)		(1,818)		(1,735)
Other	(215)		(330)		(457)		(347)
Income before income taxes	$	6,153	$	326	$	14,010	$	1,670




Depreciation/Amortization:
Total segment depreciation/amortization	$	3,019	$	3,373	$	9,172	$	10,214
Corporate depreciation/amortization	467		466		1,390		1,354
Depreciation/amortization	$	3,486	$	3,839	$	10,562	$	11,568
Expenditures for Long-Lived Assets:
Total segment expenditures for long-lived assets	$	2,816	$	879	$	6,865	$	1,945
Corporate expenditures for long-lived assets	251		410		969		839
Expenditures for long-lived assets	$	3,067	$	1,289	$	7,834	$	2,784

Schedule of Reconciliation of Assets from Segment to Consolidated

The following table illustrates assets of the Company by reportable segment for the periods presented:


	September 30, 2024		December 31, 2023
Rail, Technologies, and Services	$	157,097	$	156,638
Infrastructure Solutions	130,052		130,247

Unallocated corporate assets	57,395		25,516
Total	$	344,544	$	312,401

Revenue

9 Months Ended

Sep. 30, 2024

Revenue from Contract with Customer [Abstract]

Revenue

The following table summarizes the Company’s sales by major product and service line for the periods presented:


	Three Months Ended September 30,				Nine Months Ended September 30,
	2024		2023		2024		2023
Rail Products	$	47,442	$	60,137	$	156,803	$	164,612
Global Friction Management	19,548		16,125		51,008		49,624
Technology Services and Solutions	12,508		10,604		39,904		28,630
Rail, Technologies, and Services	79,498		86,866		247,715		242,866
Precast Concrete Products	42,688		38,642		97,730		96,795
Steel Products	15,280		19,837		57,137		69,206
Infrastructure Solutions	57,968		58,479		154,867		166,001
Total net sales	$	137,466	$	145,345	$	402,582	$	408,867

The majority of the Company’s revenue is from products transferred and services rendered to customers at a point in time. The Company recognizes revenue at the point in time at which the customer obtains control of the product or service, which is generally when the product title passes to the customer upon shipment or the service has been rendered to the customer. In limited cases, title does not transfer and revenue is not recognized until the customer has received the products at a designated physical location.

Net sales by the timing of the transfer of goods and services was as follows for the periods presented:


	Three Months Ended September 30, 2024
	Rail, Technologies, and Services		Infrastructure Solutions		Total
Point in time	$	62,717	$	33,462	$	96,179
Over time	16,781		24,506		41,287
Total net sales	$	79,498	$	57,968	$	137,466

	Three Months Ended September 30, 2023
	Rail, Technologies, and Services		Infrastructure Solutions		Total
Point in time	$	72,246	$	38,534	$	110,780
Over time	14,620		19,945		34,565
Total net sales	$	86,866	$	58,479	$	145,345


	Nine Months Ended September 30, 2024
	Rail, Technologies, and Services		Infrastructure Solutions		Total
Point in time	$	198,179	$	98,246	$	296,425
Over time	49,536		56,621		106,157
Total net sales	$	247,715	$	154,867	$	402,582

	Nine Months Ended September 30, 2023
	Rail, Technologies, and Services		Infrastructure Solutions		Total
Point in time	$	202,003	$	102,609	$	304,612
Over time	40,863		63,392		104,255
Total net sales	$	242,866	$	166,001	$	408,867

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 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 nine months ended September 30, 2024, reductions to net sales stemming from changes in actual and expected values of certain commercial contracts and settlements of such contracts were $1,477; there were no such changes in actual or expected values during the three months ended September 30, 2024. Such adjustments were $3,996 and $5,424 during the three and nine months ended September 30, 2023, respectively, including $1,977 related to the Bridge Exit in both the three and nine month periods last year. 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 September 30,				Percentage of Total Net Sales Three Months Ended September 30,
	2024		2023		2024		2023
Over time input method	$	15,020	$	12,642	10.9	%	8.7	%
Over time output method	26,267		21,923		19.1		15.1
Total over time sales	$	41,287	$	34,565	30.0	%	23.8	%


	Nine Months Ended September 30,				Percentage of Total Net Sales Nine Months Ended September 30,
	2024		2023		2024		2023
Over time input method	$	42,259	$	44,577	10.5	%	10.9	%
Over time output method	63,898		59,678		15.9		14.6
Total over time sales	$	106,157	$	104,255	26.4	%	25.5	%

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	9,898
Transfers from contract asset balance to accounts receivable	(19,201)
Balance as of September 30, 2024	$	20,186

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	(1,285)
Increase in billings in excess of cost, excluding revenue recognized	1,744
Other adjustments	(317)
Balance as of September 30, 2024	$	2,331

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 September 30, 2024, the Company had approximately $209,005 of remaining performance obligations, which are also referred to as backlog. Approximately 12.5% of the September 30, 2024 backlog was related to projects that are anticipated to extend beyond September 30, 2025.

- Definition

The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

Accounts Receivable (Tables)

9 Months Ended

Sep. 30, 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
Additions to the current period provision	792
Write-off against allowance	(36)
Recoveries of previous write-offs	(263)
Balance as of September 30, 2024	$	1,302

Revenue - Schedule of Contract with Customer, Contract Asset, Contract Liability (Details) $ in Thousands	9 Months Ended
	Sep. 30, 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	9,898
Transfers from contract asset balance to accounts receivable	(19,201)
Balance as of September 30, 2024	20,186
Contract With Customer Liability [Roll Forward]
Balance as of December 31, 2023	2,189
Revenue recognized from contract liabilities	(1,285)
Increase in billings in excess of cost, excluding revenue recognized	1,744
Other adjustments	(317)
Balance as of September 30, 2024	$ 2,331

Income Taxes (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
Income Taxes (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Income Tax Disclosure [Abstract]
Income tax benefit	$ 29,745	$ 121	$ 29,110	$ 99
Income before income taxes	$ 6,153	$ 326	$ 14,010	$ 1,670
Effective income tax rate (as a percent)	(483.40%)	(37.10%)	(207.80%)	(5.90%)
Discrete tax benefit	$ 30,045

- Definition

Amount of income (loss) from continuing operations, including income (loss) from equity method investments, before deduction of income tax expense (benefit), and income (loss) attributable to noncontrolling interest.

+ References

+ Details

- Definition

Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

Commitments and Contingent Liabilities	9 Months Ended
Commitments and Contingent Liabilities	Sep. 30, 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 $4,000, 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 September 30, 2024 and December 31, 2023, the Company maintained environmental reserves approximating $1,796 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 September 30, 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 September 30, 2024, no such disclosures were considered necessary.

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Sep. 30, 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)	10,657,554	10,733,935
Treasury stock shares - at cost, common stock (in shares)	458,225	381,844

Goodwill and Other Intangible Assets - Narrative (Details) - Customer relationships $ in Thousands	3 Months Ended
	Mar. 31, 2024 USD ($)
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

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References + Details

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Total net sales	$ 137,466	$ 145,345	$ 402,582	$ 408,867
Total cost of sales	104,708	117,928	313,135	325,532
Gross profit	32,758	27,417	89,447	83,335
Selling and administrative expenses	24,289	24,421	71,977	70,360
(Gain) on sale of former joint venture facility	0	0	(3,477)	0
Amortization expense	1,146	1,379	3,486	4,119
Operating income	7,323	1,617	17,461	8,856
Interest expense - net	1,358	1,442	3,976	4,404
Other (income) expense - net	(188)	(151)	(525)	2,782
Income before income taxes	6,153	326	14,010	1,670
Income tax benefit	(29,745)	(121)	(29,110)	(99)
Net income	35,898	447	43,120	1,769
Net loss attributable to noncontrolling interest	(7)	(68)	(68)	(125)
Net income attributable to L.B. Foster Company	$ 35,905	$ 515	$ 43,188	$ 1,894
Per share data attributable to L.B. Foster shareholders:
Basic earnings per common share (in USD per share)	$ 3.35	$ 0.05	$ 4.01	$ 0.18
Diluted earnings per common share (in USD per share)	$ 3.27	$ 0.05	$ 3.91	$ 0.17
Basic weighted average shares outstanding (in shares)	10,718	10,813	10,757	10,804
Diluted weighted average shares outstanding (in shares)	10,992	10,973	11,059	10,895
Sales of goods
Total net sales	$ 119,322	$ 131,065	$ 346,202	$ 361,770
Total cost of sales	89,286	103,868	264,543	282,627
Sales of services
Total net sales	18,144	14,280	56,380	47,097
Total cost of sales	$ 15,422	$ 14,060	$ 48,592	$ 42,905

Revenue - Schedule of Over Time Sales (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Disaggregation of Revenue
Over time sales, amount	$ 41,287	$ 34,565	$ 106,157	$ 104,255
Over time sales, percentage	30.00%	23.80%	26.40%	25.50%
Over time input method
Disaggregation of Revenue
Over time sales, amount	$ 15,020	$ 12,642	$ 42,259	$ 44,577
Over time sales, percentage	10.90%	8.70%	10.50%	10.90%
Over time output method
Disaggregation of Revenue
Over time sales, amount	$ 26,267	$ 21,923	$ 63,898	$ 59,678
Over time sales, percentage	19.10%	15.10%	15.90%	14.60%

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References + Details

Inventory (Tables)

9 Months Ended

Sep. 30, 2024

Inventory Disclosure [Abstract]

Schedule of Inventory

The Company’s components of inventory are summarized in the following table for the periods presented:


	September 30, 2024		December 31, 2023
Finished goods	$	45,582	$	44,518
Work-in-process	2,952		4,675
Raw materials	25,343		23,918
Inventories - net	$	73,877	$	73,111

Fair Value Measurements - Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Fair Value, Balance Sheet Grouping, Financial Statement Captions
Interest rate swaps	$ 447	$ 1,225
Total assets	447	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	447	1,225
Total assets	447	1,225
Level 3
Fair Value, Balance Sheet Grouping, Financial Statement Captions
Interest rate swaps	0	0
Total assets	$ 0	$ 0

- Definition

Fair value, after the effects of master netting arrangements, of a financial asset or other contract with one or more underlyings, notional amount or payment provision or both, and the contract can be net settled by means outside the contract or delivery of an asset. Includes assets not subject to a master netting arrangement and not elected to be offset.

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+ Details

Retirement Plans (Tables)

9 Months Ended

Sep. 30, 2024

Schedule of Net Benefit Costs

Net periodic pension costs were as follows for the periods presented:


	Three Months Ended September 30,				Nine Months Ended September 30,
	2024		2023		2024		2023

Interest cost	$	66	$	71	$	198	$	214
Expected return on plan assets	(68)		(64)		(204)		(192)
Recognized net actuarial loss	15		16		45		47
Net periodic pension cost	$	13	$	23	$	39	$	69

Net periodic pension costs were as follows for the periods presented:


	Three Months Ended September 30,				Nine Months Ended September 30,
	2024		2023		2024		2023
Interest cost	$	57	$	56	$	171	$	168
Expected return on plan assets	(95)		(84)		(285)		(252)
Amortization of prior service costs and transition amount	6		6		18		18
Recognized net actuarial loss	8		3		24		9
Net periodic pension income	$	(24)	$	(19)	$	(72)	$	(57)

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 September 30,				Nine Months Ended September 30,
	2024		2023		2024		2023
United States	$	698	$	728	$	1,968	$	2,135
Canada	39		36		149		131
United Kingdom	304		294		877		881
	$	1,041	$	1,058	$	2,994	$	3,147

Restructuring Costs - Schedule of Reconciliation of the Beginning and Ending Restructuring Liability (Details) - USD ($)	3 Months Ended	6 Months Ended	9 Months Ended
	Sep. 30, 2024	Jun. 30, 2024	Sep. 30, 2024
Restructuring Reserve [Roll Forward]
Restructuring reserve, beginning balance	$ 0
Restructuring costs	909,000	$ 0	$ 909,000
Cash paid	767,000
Restructuring reserve, ending balance	$ 142,000	$ 0	$ 142,000

Goodwill and Other Intangible Assets - Schedule of Goodwill (Details) $ in Thousands	9 Months Ended
	Sep. 30, 2024 USD ($)
Goodwill
Goodwill, beginning balance	$ 32,587
Foreign currency translation impact	738
Goodwill, ending balance	32,880
Cougar purchase accounting adjustment
Goodwill
Cougar purchase accounting adjustment	(445)
Rail, Technologies, and Services
Goodwill
Goodwill, beginning balance	20,466
Foreign currency translation impact	738
Goodwill, ending balance	21,204
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
Infrastructure Solutions \| Cougar purchase accounting adjustment
Goodwill
Cougar purchase accounting adjustment	$ (445)

- Definition

Amount, after accumulated impairment loss, of asset representing future economic benefit arising from other asset acquired in business combination or from joint venture formation or both, that is not individually identified and separately recognized.

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+ Details

Cover - shares	9 Months Ended
Cover - shares	Sep. 30, 2024	Oct. 31, 2024
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 30, 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)		10,830,095
Amendment Flag	false
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	Q3
Entity Central Index Key	0000352825
Current Fiscal Year End Date	--12-31

Fair Value Measurements

9 Months Ended

Sep. 30, 2024

Fair Value Disclosures [Abstract]

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 September 30, 2024 and December 31, 2023, the interest rate swaps were recorded in “Other current assets” when the interest rate swaps’ fair market value are in an asset position, and “Other accrued liabilities” when in a liability position within our Condensed Consolidated Balance Sheets.


	Fair Value Measurements at Reporting Date								Fair Value Measurements at Reporting Date
	September 30, 2024		Level 1		Level 2		Level 3		December 31, 2023		Level 1		Level 2		Level 3

Interest rate swaps	$	447	$	—	$	447	$	—	$	1,225	$	—	$	1,225	$	—
Total assets	$	447	$	—	$	447	$	—	$	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.

For the three months ended September 30, 2024 and 2023, the Company recognized interest income of $340 and $329, respectively, from interest rate swaps. For the nine months ended September 30, 2024 and 2023, the Company recognized interest income of $1,017 and $869, respectively, from interest rate swaps.

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

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-Topic 820
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-Name Accounting Standards Codification
-Section 50
-Paragraph 2E
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2E

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
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-Name Accounting Standards Codification
-Section 50
-Paragraph 6A
-Subparagraph (h)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-6A

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
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-Name Accounting Standards Codification
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-Paragraph 6A
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Reference 8: http://www.xbrl.org/2003/role/disclosureRef
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-URI https://asc.fasb.org/1943274/2147482106/820-10-50-6A

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
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Reference 10: http://www.xbrl.org/2003/role/disclosureRef
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Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
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Reference 12: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478119/940-820-50-1

+ Details

Long-Term Debt and Related Matters

9 Months Ended

Sep. 30, 2024

Debt Disclosure [Abstract]

Long-Term Debt and Related Matters

Long-term debt consisted of the following:


	September 30, 2024		December 31, 2023
Revolving credit facility	$	68,029	$	55,060

Finance leases and financing agreements	515		213
Total	68,544		55,273
Less current maturities	(167)		(102)
Long-term portion	$	68,377	$	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 September 30, 2024, the Company was in compliance with the covenants in the Credit Agreement, as amended, and had outstanding letters of credit of approximately $2,264.

- Definition

The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481544/470-10-50-6

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481544/470-10-50-6

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 405
-SubTopic 40
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477092/405-40-50-1

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 405
-SubTopic 40
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)(3)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477092/405-40-50-1

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 405
-SubTopic 40
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)(2)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477092/405-40-50-1

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 405
-SubTopic 40
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)(1)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477092/405-40-50-1

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 405
-SubTopic 40
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477092/405-40-50-1

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Subparagraph (h)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481139/470-20-50-1B

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(c))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480678/235-10-S99-1

Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 470
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org/470/tableOfContent

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 835
-SubTopic 30
-Name Accounting Standards Codification
-Section 45
-Paragraph 2
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482925/835-30-45-2

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481139/470-20-50-1B

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Subparagraph (g)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481139/470-20-50-1B

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Subparagraph (i)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481139/470-20-50-1B

Reference 15: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
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-Name Accounting Standards Codification
-Section 50
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-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481139/470-20-50-1C

Reference 16: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
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-Name Accounting Standards Codification
-Section 50
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Reference 17: http://www.xbrl.org/2003/role/disclosureRef
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-Publisher FASB
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Reference 18: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
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-Name Accounting Standards Codification
-Section 50
-Paragraph 1E
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-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481139/470-20-50-1E

Reference 19: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
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-Name Accounting Standards Codification
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-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481139/470-20-50-1I

Reference 20: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
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-Name Accounting Standards Codification
-Section 50
-Paragraph 1I
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-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481139/470-20-50-1I

Reference 21: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1I
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481139/470-20-50-1I

+ Details

Restructuring Costs

9 Months Ended

Sep. 30, 2024

Restructuring and Related Activities [Abstract]

Restructuring Costs

In August 2024, the Company announced an enterprise restructuring program aligned with its long-term strategy to reduce costs and enable investment in its growth platforms. The restructuring action is expected to be completed in 2024, and is expected to provide annual run-rate pre-tax savings of approximately $4,500, $2,000 of which to be realized in 2024.

The following table sets forth restructuring costs by segment for the three and nine months ended September 30, 2024:



Rail, Technologies, and Services	$	651
Infrastructure Solutions	63
Corporate	195
Total	$	909

There were no restructuring costs incurred prior to the three months ended September 30, 2024. The Company's $909 restructuring expense relates to severance and an immaterial amount of legal costs. Of the total restructuring costs incurred for the three and nine months ended September 30, 2024, $69 was reported in “Cost of goods sold” and $840 was reported in “Selling and administrative expense.” The Company expects approximately $471 in additional restructuring costs associated with this program in total.

The following table sets forth a reconciliation of the beginning and ending restructuring liability balance through September 30, 2024:


Balance as of June 30, 2024	$	—
Restructuring costs	909
Cash paid	767
Balance as of September 30, 2024	$	142

The majority of the remaining liability of $142 is expected to be paid in 2024.

Long-Term Debt and Related Matters - Schedule of Long-term Debt Instruments (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Debt Disclosure [Abstract]
Revolving credit facility	$ 68,029	$ 55,060
Finance leases and financing agreements	515	213
Total	68,544	55,273
Less current maturities	(167)	(102)
Long-term portion	$ 68,377	$ 55,171

- Definition

The carrying value as of the balance sheet date of the current and noncurrent portions of long-term obligations drawn from a line of credit, which is a bank's commitment to make loans up to a specific amount. Examples of items that might be included in the application of this element may consist of letters of credit, standby letters of credit, and revolving credit arrangements, under which borrowings can be made up to a maximum amount as of any point in time conditional on satisfaction of specified terms before, as of and after the date of drawdowns on the line. Includes short-term obligations that would normally be classified as current liabilities but for which (a) postbalance sheet date issuance of a long term obligation to refinance the short term obligation on a long term basis, or (b) the enterprise has entered into a financing agreement that clearly permits the enterprise to refinance the short-term obligation on a long term basis and the following conditions are met (1) the agreement does not expire within 1 year and is not cancelable by the lender except for violation of an objectively determinable provision, (2) no violation exists at the BS date, and (3) the lender has entered into the financing agreement is expected to be financially capable of honoring the agreement.

+ References + Details

Retirement Plans - Schedule of Costs of Retirement Plans (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Defined Contribution Plan Disclosure
Expenses associated with contributions made	$ 1,041	$ 1,058	$ 2,994	$ 3,147
United States
Defined Contribution Plan Disclosure
Expenses associated with contributions made	698	728	1,968	2,135
Canada
Defined Contribution Plan Disclosure
Expenses associated with contributions made	39	36	149	131
United Kingdom
Defined Contribution Plan Disclosure
Expenses associated with contributions made	$ 304	$ 294	$ 877	$ 881

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income	$ 43,120	$ 1,769
Adjustments to reconcile net income to cash used in operating activities:
Deferred income taxes	(30,122)	(1,958)
Depreciation	7,076	7,449
Amortization	3,486	4,119
Equity in loss of nonconsolidated investments	6	6
Gain on sales and disposals of property, plant, and equipment	(4,437)	(366)
Stock-based compensation	3,135	2,757
Loss on asset divestitures	0	3,074
Change in operating assets and liabilities:
Accounts receivable	(12,976)	15,927
Contract assets	9,910	(261)
Inventories	(465)	(16,047)
Other current assets	(2,020)	1,108
Other noncurrent assets	2,517	(762)
Accounts payable	603	1,201
Deferred revenue	(2,861)	782
Accrued payroll and employee benefits	(5,747)	1,809
Accrued settlement	(4,000)	(4,000)
Other current liabilities	(5,848)	(1,044)
Other long-term liabilities	(3,030)	(253)
Net cash (used in) provided by operating activities	(1,653)	15,310
CASH FLOWS FROM INVESTING ACTIVITIES:
Proceeds from the sale of property, plant, and equipment	3,881	539
Capital expenditures on property, plant, and equipment	(7,834)	(2,784)
Proceeds from business dispositions	0	7,706
Acquisitions, net of cash acquired	0	337
Net cash (used in) provided by investing activities	(3,953)	5,798
CASH FLOWS FROM FINANCING ACTIVITIES:
Repayments of debt	(166,005)	(150,115)
Proceeds from debt	178,167	129,853
Treasury stock acquisitions	(5,742)	(1,193)
Investment of noncontrolling interest	0	334
Net cash provided by (used in) financing activities	6,420	(21,121)
Effect of exchange rate changes on cash and cash equivalents	(239)	100
Net increase in cash and cash equivalents	575	87
Cash and cash equivalents at beginning of period	2,560	2,882
Cash and cash equivalents at end of period	3,135	2,969
Supplemental disclosure of cash flow information:
Interest paid	3,632	4,351
Income taxes paid (received)	$ 1,596	$ (271)

Revenue - Remaining Performance Obligation (Details) $ in Thousands	Sep. 30, 2024 USD ($)
Revenue from Contract with Customer [Abstract]
Revenue remaining performance obligation	$ 209,005
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2025-10-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction
Revenue remaining performance obligation (percentage)	12.50%
Revenue, remaining performance obligation, expected timing of satisfaction, period

Long-Term Debt and Related Matters - Narrative (Details)	Aug. 13, 2021 USD ($)	Sep. 30, 2024 USD ($) covenant	Dec. 31, 2023 USD ($)
Line of Credit Facility
Line of credit facility, amount outstanding		$ 68,029,000	$ 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		$ 2,264,000
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

Revenue - Schedule of Timing of Transfer (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Disaggregation of Revenue
Total net sales	$ 137,466	$ 145,345	$ 402,582	$ 408,867
Point in time
Disaggregation of Revenue
Total net sales	96,179	110,780	296,425	304,612
Over time
Disaggregation of Revenue
Total net sales	41,287	34,565	106,157	104,255
Rail, Technologies, and Services
Disaggregation of Revenue
Total net sales	79,498	86,866	247,715	242,866
Rail, Technologies, and Services \| Point in time
Disaggregation of Revenue
Total net sales	62,717	72,246	198,179	202,003
Rail, Technologies, and Services \| Over time
Disaggregation of Revenue
Total net sales	16,781	14,620	49,536	40,863
Infrastructure Solutions
Disaggregation of Revenue
Total net sales	57,968	58,479	154,867	166,001
Infrastructure Solutions \| Point in time
Disaggregation of Revenue
Total net sales	33,462	38,534	98,246	102,609
Infrastructure Solutions \| Over time
Disaggregation of Revenue
Total net sales	$ 24,506	$ 19,945	$ 56,621	$ 63,392

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References + Details

- Definition

+ References

+ Details

Fair Value Measurements (Tables)

9 Months Ended

Sep. 30, 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
	September 30, 2024		Level 1		Level 2		Level 3		December 31, 2023		Level 1		Level 2		Level 3

Interest rate swaps	$	447	$	—	$	447	$	—	$	1,225	$	—	$	1,225	$	—
Total assets	$	447	$	—	$	447	$	—	$	1,225	$	—	$	1,225	$	—

Long-Term Debt and Related Matters (Tables)

9 Months Ended

Sep. 30, 2024

Debt Disclosure [Abstract]

Schedule of Long-term Debt Instruments

Long-term debt consisted of the following:


	September 30, 2024		December 31, 2023
Revolving credit facility	$	68,029	$	55,060

Finance leases and financing agreements	515		213
Total	68,544		55,273
Less current maturities	(167)		(102)
Long-term portion	$	68,377	$	55,171

- Definition

Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02(22))
-SubTopic 10
-Topic 210
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1

Reference 2: http://www.xbrl.org/2003/role/exampleRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 55
-Paragraph 69B
-Publisher FASB
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Reference 3: http://www.xbrl.org/2003/role/exampleRef
-Topic 470
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-Name Accounting Standards Codification
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-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481568/470-20-55-69E

Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 3
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Reference 5: http://www.xbrl.org/2009/role/commonPracticeRef
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-SubTopic 30
-Name Accounting Standards Codification
-Section 45
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-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482925/835-30-45-2

Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef
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Reference 7: http://fasb.org/us-gaap/role/ref/legacyRef
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Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef
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-Name Accounting Standards Codification
-Section 50
-Paragraph 7
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-URI https://asc.fasb.org/1943274/2147481112/505-10-50-7

+ Details

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Current assets:
Cash and cash equivalents	$ 3,135	$ 2,560
Accounts receivable - net (Note 5)	66,718	53,484
Contract assets - net (Note 3)	20,186	29,489
Inventories - net (Note 6)	73,877	73,111
Other current assets	9,538	8,711
Total current assets	173,454	167,355
Property, plant, and equipment - net	75,732	75,579
Operating lease right-of-use assets - net	12,604	14,905
Other assets:
Goodwill (Note 4)	32,880	32,587
Other intangibles - net (Note 4)	16,020	19,010
Deferred tax assets (Note 9)	30,045	0
Other assets	3,809	2,965
TOTAL ASSETS	344,544	312,401
Current liabilities:
Accounts payable	40,008	39,500
Deferred revenue (Note 3)	9,720	12,479
Accrued payroll and employee benefits	11,243	16,978
Current portion of accrued settlement (Note 13)	4,000	8,000
Current maturities of long-term debt (Note 7)	167	102
Other accrued liabilities	11,251	17,442
Total current liabilities	76,389	94,501
Long-term debt (Note 7)	68,377	55,171
Deferred tax liabilities (Note 9)	1,134	1,232
Long-term operating lease liabilities	9,923	11,865
Other long-term liabilities	6,285	6,797
Stockholders’ equity:
Common stock, par value $0.01, authorized 20,000,000 shares; shares issued at September 30, 2024 and December 31, 2023, 11,115,779; shares outstanding at September 30, 2024 and December 31, 2023, 10,657,554 and 10,733,935, respectively	111	111
Paid-in capital	43,385	43,111
Retained earnings	167,821	124,633
Treasury stock - at cost, 458,225 and 381,844 common stock shares at September 30, 2024 and December 31, 2023, respectively	(8,994)	(6,494)
Accumulated other comprehensive loss	(20,472)	(19,250)
Total L.B. Foster Company stockholders’ equity	181,851	142,111
Noncontrolling interest	585	724
Total stockholders’ equity	182,436	142,835
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY	$ 344,544	$ 312,401

Business Segments - Schedule of Reconciliation of Assets from Segment to Consolidated (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Segment Reporting Information
Assets	$ 344,544	$ 312,401
Operating Segments \| Rail, Technologies, and Services
Segment Reporting Information
Assets	157,097	156,638
Operating Segments \| Infrastructure Solutions
Segment Reporting Information
Assets	130,052	130,247
Unallocated corporate assets
Segment Reporting Information
Assets	$ 57,395	$ 25,516

- Definition

Amount of asset recognized for present right to economic benefit.

+ References

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Reference 14: http://www.xbrl.org/2003/role/disclosureRef
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Reference 19: http://www.xbrl.org/2009/role/commonPracticeRef
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Reference 26: http://www.xbrl.org/2003/role/disclosureRef
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Reference 27: http://www.xbrl.org/2003/role/disclosureRef
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Reference 28: http://www.xbrl.org/2009/role/commonPracticeRef
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+ Details

Restructuring Costs (Tables)

9 Months Ended

Sep. 30, 2024

Restructuring and Related Activities [Abstract]

Schedule of Restructuring and Related Costs

The following table sets forth restructuring costs by segment for the three and nine months ended September 30, 2024:



Rail, Technologies, and Services	$	651
Infrastructure Solutions	63
Corporate	195
Total	$	909

Schedule of Restructuring Reserve

The following table sets forth a reconciliation of the beginning and ending restructuring liability balance through September 30, 2024:


Balance as of June 30, 2024	$	—
Restructuring costs	909
Cash paid	767
Balance as of September 30, 2024	$	142

Commitments and Contingent Liabilities (Details) $ in Thousands		9 Months Ended
	Mar. 13, 2019 USD ($)	Sep. 30, 2024 USD ($) 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		$ 4,000
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		$ 1,796	$ 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

Revenue - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
Revenue - Narrative (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Disaggregation of Revenue
Reduction in sales due to changes in estimates	$ 0	$ 3,996	$ 1,477	$ 5,424
Bridge Grid Deck Product
Disaggregation of Revenue
Reduction in sales due to changes in estimates		$ 1,977		$ 1,977

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References + Details

Goodwill and Other Intangible Assets

9 Months Ended

Sep. 30, 2024

Goodwill and Intangible Assets Disclosure [Abstract]

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	738		—		738


Balance as of September 30, 2024	$	21,204	$	11,676	$	32,880

On November 17, 2023, the Company acquired the operating assets of Cougar Mountain Precast, LLC, for which all purchase accounting adjustments were finalized as of March 31, 2024. Purchase accounting finalization during the first quarter of 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 September 30, 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:


	September 30, 2024
	Weighted Average Amortization Period In Years	Gross Carrying Value		Accumulated Amortization		Net Carrying Amount

Patents	10	$	328	$	(206)	$	122
Customer relationships	15	28,672		(19,886)		8,786
Trademarks and trade names	14	8,045		(5,117)		2,928
Technology	9	32,786		(28,811)		3,975
Favorable lease	6	327		(118)		209
		$	70,158	$	(54,138)	$	16,020


	December 31, 2023
	Weighted Average Amortization Period In Years	Gross Carrying Value		Accumulated Amortization		Net Carrying Amount
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

Goodwill and Other Intangible Assets - Schedule of Intangible Asset (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Finite-Lived Intangible Assets
Gross Carrying Value	$ 70,158	$ 69,021
Accumulated Amortization	(54,138)	(50,011)
Net Carrying Amount	16,020	19,010
Patents
Finite-Lived Intangible Assets
Gross Carrying Value	328	335
Accumulated Amortization	(206)	(199)
Net Carrying Amount	122	136
Customer relationships
Finite-Lived Intangible Assets
Gross Carrying Value	28,672	27,712
Accumulated Amortization	(19,886)	(17,236)
Net Carrying Amount	8,786	10,476
Trademarks and trade names
Finite-Lived Intangible Assets
Gross Carrying Value	8,045	7,989
Accumulated Amortization	(5,117)	(4,593)
Net Carrying Amount	2,928	3,396
Technology
Finite-Lived Intangible Assets
Gross Carrying Value	32,786	32,658
Accumulated Amortization	(28,811)	(27,906)
Net Carrying Amount	3,975	4,752
Favorable lease
Finite-Lived Intangible Assets
Gross Carrying Value	327	327
Accumulated Amortization	(118)	(77)
Net Carrying Amount	$ 209	$ 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	15 years	16 years
Weighted Average \| Trademarks and trade names
Finite-Lived Intangible Assets
Weighted Average Amortization Period In Years	14 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

Earning Per Common Share - Schedule of Earnings Per Share, Basic and Diluted (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Numerator for basic and diluted earnings per common share:
Net income attributable to L.B. Foster Company	$ 35,905	$ 515	$ 43,188	$ 1,894
Denominator:
Weighted average shares outstanding (in shares)	10,718	10,813	10,757	10,804
Denominator for basic earnings per common share (in shares)	10,718	10,813	10,757	10,804
Effect of dilutive securities:
Stock compensation plans (in shares)	274	160	302	91
Dilutive potential common shares (in shares)	274	160	302	91
Denominator for diluted earnings per common share - adjusted weighted average shares outstanding (in shares)	10,992	10,973	11,059	10,895
Basic earnings per common share (in USD per share)	$ 3.35	$ 0.05	$ 4.01	$ 0.18
Diluted earnings per common share (in USD per share)	$ 3.27	$ 0.05	$ 3.91	$ 0.17

Basis of Presentation (Policies)	9 Months Ended
Basis of Presentation (Policies)	Sep. 30, 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 and nine months ended September 30, 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 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, references to “we,” “us,” “our,” and the “Company” refer collectively to L.B. Foster Company and its consolidated subsidiaries.
Recently Issued Accounting Standards	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 operating income 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 operating income 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 (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
Basis of Presentation (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Total cost of sales	$ 104,708	$ 117,928	$ 313,135	$ 325,532
Gross profit	32,758	27,417	89,447	83,335
Selling and administrative expenses	24,289	24,421	71,977	70,360
Operating income	7,323	1,617	17,461	8,856
Other expense (income) - net	188	151	525	(2,782)
Sales of goods
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Total cost of sales	$ 89,286	103,868	$ 264,543	282,627
As Previously Reported
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Total cost of sales		117,121		325,100
Gross profit		28,224		83,767
Selling and administrative expenses		24,160		70,111
Operating income		2,685		9,537
Other expense (income) - net		(917)		(3,463)
As Previously Reported \| Sales of goods
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Total cost of sales		103,061		282,195
Adjustments
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Total cost of sales		807		432
Gross profit		(807)		(432)
Selling and administrative expenses		261		249
Operating income		(1,068)		(681)
Other expense (income) - net		1,068		681
Adjustments \| Sales of goods
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Total cost of sales		$ 807		$ 432

- Definition

The aggregate cost of goods produced and sold and services rendered during the reporting period.

+ References

+ Details

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References + Details

- Definition

Aggregate revenue less cost of goods and services sold or operating expenses directly attributable to the revenue generation activity.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
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-URI https://asc.fasb.org/1943274/2147482810/280-10-50-22

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+ Details

Business Segments - Narrative (Details) $ in Thousands				3 Months Ended		9 Months Ended		13 Months Ended
Business Segments - Narrative (Details) $ in Thousands	Nov. 17, 2023 USD ($)	Jun. 30, 2023 USD ($)	Mar. 30, 2023 USD ($)	Sep. 30, 2024 USD ($)	Sep. 30, 2023 USD ($)	Sep. 30, 2024 USD ($) segment	Sep. 30, 2023 USD ($) segment	Sep. 30, 2024 USD ($)
Segment Reporting Information
Number of reportable segments \| segment						2	3
Proceeds from business dispositions						$ 0	$ 7,706
Loss on asset divestitures						0	3,074
Gain on sale of former joint venture facility				$ 0	$ 0	3,477	0
Total net sales				137,466	145,345	402,582	408,867
Exit costs incurred				(188)	(151)	(525)	2,782
Cougar purchase accounting adjustment
Segment Reporting Information
Consideration transferred to acquire operating assets	$ 1,644
Asset acquisition, contingent consideration, liability	$ 160
Disposal Group, Not Discontinued Operations \| Bridge Grid Deck Product
Segment Reporting Information
Proceeds from business dispositions						1,300
Loss on asset divestitures						(815)
Total net sales				921	$ 283	2,888	$ 3,749
Exit costs incurred				$ 0		$ 0		$ 1,476
Personnel expenses								740
Inventory write-down								474
Other exit costs								$ 262
Coatings and Measurement
Segment Reporting Information
Proceeds from business dispositions			$ 5,344
Rail Products
Segment Reporting Information
Proceeds from business dispositions		$ 2,362
Loss on asset divestitures		$ 1,009	$ 2,065

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)	1,769			1,894			(125)
Other comprehensive income (loss), net of tax:
Pension liability adjustment	123					123
Foreign currency translation adjustment	852					840	12
Unrealized derivative (loss) gain on cash flow hedges	79					79
Purchase of common shares for treasury	(878)				(878)
Issuance of common shares, net of share withheld for taxes	(172)		(2,228)		2,056
Stock-based compensation	2,757		2,757
Ending balance at Sep. 30, 2023	142,128	111	41,832	125,063	(5,062)	(20,123)	307
Beginning balance at Jun. 30, 2023	142,592	111	40,919	124,548	(4,846)	(18,536)	396
Increase (Decrease) in Stockholders' Equity
Net income (loss)	447			515			(68)
Other comprehensive income (loss), net of tax:
Pension liability adjustment	42					42
Foreign currency translation adjustment	(1,651)					(1,630)	(21)
Unrealized derivative (loss) gain on cash flow hedges	1					1
Purchase of common shares for treasury	(216)				(216)
Issuance of common shares, net of share withheld for taxes	(15)		(15)		0
Stock-based compensation	928		928
Ending balance at Sep. 30, 2023	142,128	111	41,832	125,063	(5,062)	(20,123)	307
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)	43,120			43,188			(68)
Other comprehensive income (loss), net of tax:
Pension liability adjustment	75					75
Foreign currency translation adjustment	(590)					(519)	(71)
Unrealized derivative (loss) gain on cash flow hedges	(778)					(778)
Purchase of common shares for treasury	(4,330)				(4,330)
Issuance of common shares, net of share withheld for taxes	(1,405)		(3,235)		1,830
Stock-based compensation	3,135		3,135
Investment of noncontrolling interest	374		374
Ending balance at Sep. 30, 2024	182,436	111	43,385	167,821	(8,994)	(20,472)	585
Beginning balance at Jun. 30, 2024	147,652	111	42,612	131,916	(6,405)	(21,156)	574
Increase (Decrease) in Stockholders' Equity
Net income (loss)	35,898			35,905			(7)
Other comprehensive income (loss), net of tax:
Pension liability adjustment	24					24
Foreign currency translation adjustment	1,376					1,358	18
Unrealized derivative (loss) gain on cash flow hedges	(698)					(698)
Purchase of common shares for treasury	(2,623)				(2,623)
Issuance of common shares, net of share withheld for taxes	19		(15)		34
Stock-based compensation	788		788
Ending balance at Sep. 30, 2024	$ 182,436	$ 111	$ 43,385	$ 167,821	$ (8,994)	$ (20,472)	$ 585

Fair Value Measurements - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023	Dec. 31, 2023	Aug. 31, 2022	Aug. 12, 2022
Fair Value, Balance Sheet Grouping, Financial Statement Captions
Derivative Asset, Statement of Financial Position [Extensible Enumeration]	Other current assets		Other current assets		Other current assets
Swap
Fair Value, Balance Sheet Grouping, Financial Statement Captions
Derivative, notional amount							$ 20,000
Interest income	$ 340	$ 329	$ 1,017	$ 869
Swap 2
Fair Value, Balance Sheet Grouping, Financial Statement Captions
Derivative, notional amount						$ 20,000

Restructuring Costs - Schedule of Restructuring and Related Costs by Segment (Details) - USD ($)	3 Months Ended	6 Months Ended	9 Months Ended
	Sep. 30, 2024	Jun. 30, 2024	Sep. 30, 2024
Restructuring Cost and Reserve [Line Items]
Restructuring costs	$ 909,000	$ 0	$ 909,000
Operating Segments \| Rail, Technologies, and Services
Restructuring Cost and Reserve [Line Items]
Restructuring costs			651,000
Operating Segments \| Infrastructure Solutions
Restructuring Cost and Reserve [Line Items]
Restructuring costs			63,000
Corporate
Restructuring Cost and Reserve [Line Items]
Restructuring costs			$ 195,000

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References + Details

Insider Trading Arrangements	3 Months Ended
Insider Trading Arrangements	Sep. 30, 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

Stock-Based Compensation

9 Months Ended

Sep. 30, 2024

Share-Based Payment Arrangement, Noncash Expense [Abstract]

Stock-Based Compensation

The Company recorded stock-based compensation expense of $788 and $928 for the three months ended September 30, 2024 and 2023, respectively, and $3,135 and $2,757 for the nine months ended September 30, 2024 and 2023, respectively, related to restricted stock awards and performance unit awards. As of September 30, 2024, unrecognized compensation expense for awards that the Company expects to vest approximated $6,163. The Company will recognize this unrecognized compensation expense over the upcoming 2.3 years through February 13, 2027.

As of September 30, 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 September 30, 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. Non-Employee directors may elect to receive quarterly cash compensation in the form of fully-vested stock. During 2024, a Board member has elected to receive fully vested stock in lieu of cash compensation.

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 Stock	Deferred Stock Units	Performance-Based Stock and Share Units	Weighted Average Grant Date Fair Value
Outstanding as of December 31, 2023	264,970	12,404	560,338	$	14.10
Granted	90,807	—	86,772	24.69
Vested	(148,808)	—	(29,778)	14.01
Adjustment for incentive awards expected to vest	—	—	(24,165)	22.17
Cancelled and forfeited	(2,250)	—	(437)	15.19
Outstanding as of September 30, 2024	204,719	12,404	592,730	$	15.61

Revenue (Tables)

9 Months Ended

Sep. 30, 2024

Revenue from Contract with Customer [Abstract]

Schedule of Sales 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 September 30,				Nine Months Ended September 30,
	2024		2023		2024		2023
Rail Products	$	47,442	$	60,137	$	156,803	$	164,612
Global Friction Management	19,548		16,125		51,008		49,624
Technology Services and Solutions	12,508		10,604		39,904		28,630
Rail, Technologies, and Services	79,498		86,866		247,715		242,866
Precast Concrete Products	42,688		38,642		97,730		96,795
Steel Products	15,280		19,837		57,137		69,206
Infrastructure Solutions	57,968		58,479		154,867		166,001
Total net sales	$	137,466	$	145,345	$	402,582	$	408,867

Schedule of Disaggregation of Revenue

Net sales by the timing of the transfer of goods and services was as follows for the periods presented:


	Three Months Ended September 30, 2024
	Rail, Technologies, and Services		Infrastructure Solutions		Total
Point in time	$	62,717	$	33,462	$	96,179
Over time	16,781		24,506		41,287
Total net sales	$	79,498	$	57,968	$	137,466

	Three Months Ended September 30, 2023
	Rail, Technologies, and Services		Infrastructure Solutions		Total
Point in time	$	72,246	$	38,534	$	110,780
Over time	14,620		19,945		34,565
Total net sales	$	86,866	$	58,479	$	145,345


	Nine Months Ended September 30, 2024
	Rail, Technologies, and Services		Infrastructure Solutions		Total
Point in time	$	198,179	$	98,246	$	296,425
Over time	49,536		56,621		106,157
Total net sales	$	247,715	$	154,867	$	402,582

	Nine Months Ended September 30, 2023
	Rail, Technologies, and Services		Infrastructure Solutions		Total
Point in time	$	202,003	$	102,609	$	304,612
Over time	40,863		63,392		104,255
Total net sales	$	242,866	$	166,001	$	408,867

Revenue recognized over time was as follows for the periods presented:


	Three Months Ended September 30,				Percentage of Total Net Sales Three Months Ended September 30,
	2024		2023		2024		2023
Over time input method	$	15,020	$	12,642	10.9	%	8.7	%
Over time output method	26,267		21,923		19.1		15.1
Total over time sales	$	41,287	$	34,565	30.0	%	23.8	%


	Nine Months Ended September 30,				Percentage of Total Net Sales Nine Months Ended September 30,
	2024		2023		2024		2023
Over time input method	$	42,259	$	44,577	10.5	%	10.9	%
Over time output method	63,898		59,678		15.9		14.6
Total over time sales	$	106,157	$	104,255	26.4	%	25.5	%

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	9,898
Transfers from contract asset balance to accounts receivable	(19,201)
Balance as of September 30, 2024	$	20,186

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	(1,285)
Increase in billings in excess of cost, excluding revenue recognized	1,744
Other adjustments	(317)
Balance as of September 30, 2024	$	2,331

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) - USD ($)
$ in Thousands

3 Months Ended

9 Months Ended

Sep. 30, 2024

Sep. 30, 2023

Sep. 30, 2024

Sep. 30, 2023

Statement of Comprehensive Income [Abstract]

Net income

$ 35,898

$ 447

$ 43,120

$ 1,769

Other comprehensive income (loss), net of tax:

Foreign currency translation adjustment

1,376

(1,651)

(590)

852

Unrealized (loss) gain on cash flow hedges, net of tax expense of $0

(698)

(778)

Reclassification of pension liability adjustments to earnings, net of tax expense of $7 and $2, respectively

^[1]

123

Total comprehensive income (loss)

36,600

(1,161)

41,827

2,823

Less comprehensive (loss) income attributable to noncontrolling interest:

Net loss attributable to noncontrolling interest

(7)

(68)

(125)

Foreign currency translation adjustment

(21)

(71)

Amounts attributable to noncontrolling interest

(89)

(139)

(113)

Comprehensive income (loss) attributable to L.B. Foster Company

$ 36,589

$ (1,072)

$ 41,966

$ 2,936

[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.

Basis of Presentation

9 Months Ended

Sep. 30, 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 and nine months ended September 30, 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 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, 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 operating income 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 operating income 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.

Correction of Immaterial Errors in Previously Issued Condensed Consolidated Financial Statements

As previously announced in the Company’s Annual Report on Form 10-K/A filed with the SEC on November 1, 2024, the Company identified an immaterial error related to the classification of $1,068 of costs associated with exit of the bridge grid deck product line (the “Bridge Exit”) that were erroneously excluded from the Company’s “Operating income,” as reported in the Company’s Condensed Consolidated Statement of Operations. The Company has corrected this immaterial error and other immaterial errors for the three and nine months ended September 30, 2023. The impact of these adjustments are shown in the tables below. Note only line items that were impacted by the immaterial error corrections detailed above are included below.


	Three Months Ended September 30, 2023
	As Previously Reported		Adjustments		As Revised




Cost of goods sold	$	103,061	$	807	$	103,868

Total cost of sales	117,121		807		117,928
Gross profit	28,224		(807)		27,417
Selling and administrative expenses	24,160		261		24,421


Operating income	2,685		(1,068)		1,617




Other expense (income) - net	917		(1,068)		(151)


	Nine Months Ended September 30, 2023
	As Previously Reported		Adjustments		As Revised




Cost of goods sold	$	282,195	$	432	$	282,627

Total cost of sales	325,100		432		325,532
Gross profit	83,767		(432)		83,335
Selling and administrative expenses	70,111		249		70,360


Operating income	9,537		(681)		8,856




Other expense - net	3,463		(681)		2,782

The correction of immaterial errors to the Unaudited Condensed Consolidated Statement of Operations for the three and nine months ended September 30, 2023 did not change “Income before income taxes,” “Income tax benefit,” or “Net income.” Where appropriate, the financial disclosures in the footnotes to the Unaudited Condensed Consolidated Financial Statements impacted by the correction of these immaterial errors have been updated.

Earnings Per Common Share

9 Months Ended

Sep. 30, 2024

Earnings Per Share [Abstract]

Earnings Per Common Share

(Share amounts in thousands)

The following table sets forth the computation of basic and diluted earnings per common share for the periods indicated:


	Three Months Ended September 30,				Nine Months Ended September 30,
	2024		2023		2024		2023
Numerator for basic and diluted earnings per common share:
Net income attributable to L.B. Foster Company	$	35,905	$	515	$	43,188	$	1,894


Denominator:
Weighted average shares outstanding	10,718		10,813		10,757		10,804
Denominator for basic earnings per common share	10,718		10,813		10,757		10,804
Effect of dilutive securities:
Stock compensation plans	274		160		302		91
Dilutive potential common shares	274		160		302		91
Denominator for diluted earnings per common share - adjusted weighted average shares outstanding	10,992		10,973		11,059		10,895


Basic earnings per common share	$	3.35	$	0.05	$	4.01	$	0.18


Diluted earnings per common share	$	3.27	$	0.05	$	3.91	$	0.17

Business Segments

9 Months Ended

Sep. 30, 2024

Segment Reporting [Abstract]

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 (“CODM”), who uses such information to make decisions about resources to be allocated to the segments, and (c) for which discrete financial information is available. Operating segments are evaluated on their segment profit contribution to the Company’s consolidated results. Other income and expenses, interest, income taxes, and certain other items are managed on a consolidated basis. The Company’s segment accounting policies are described in Note 2 Business Segments of the Notes to the Company’s Consolidated Financial Statements contained in its Annual Report on Form 10-K/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 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 September 30, 2024				Three Months Ended September 30, 2023
	Net Sales		Segment Operating Income		Net Sales		Segment Operating Income
Rail, Technologies, and Services	$	79,498	$	4,933	$	86,866	$	3,866
Infrastructure Solutions	57,968		5,110		58,479		799

Total	$	137,466	$	10,043	$	145,345	$	4,665


	Nine Months Ended September 30, 2024				Nine Months Ended September 30, 2023
	Net Sales		Segment Operating Income		Net Sales		Segment Operating Income
Rail, Technologies, and Services	$	247,715	$	17,212	$	242,866	$	13,231
Infrastructure Solutions	154,867		7,345		166,001		3,232

Total	$	402,582	$	24,557	$	408,867	$	16,463

Segment income from operations, 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.

During the nine months ended September 30, 2024, the Company sold an ancillary property within the Steel Products business unit for total proceeds of $1,300 generating an $815 gain on sale recorded in “Cost of goods sold” for the nine months ended September 30, 2024 which has been included in the Infrastructure segment’s operating income.

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 nine months ended September 30, 2024, the Company sold a former joint venture facility located in Magnolia, Texas 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 profit to the Company’s consolidated total for the periods presented:


	Three Months Ended September 30,				Nine Months Ended September 30,
	2024		2023		2024		2023
Income from operations:
Total segment operating income	$	10,043	$	4,665	$	24,557	$	16,463
Gain on sale of former joint venture facility	—		—		3,477		—
Interest expense - net	(1,358)		(1,442)		(3,976)		(4,404)

Other income (expense) - net	188		151		525		(2,782)


Public company costs	(1,327)		(1,371)		(4,167)		(3,244)
Corporate executive management costs	(839)		(760)		(4,131)		(2,281)
Corporate management stock-based compensation	(339)		(587)		(1,818)		(1,735)
Other	(215)		(330)		(457)		(347)
Income before income taxes	$	6,153	$	326	$	14,010	$	1,670




Depreciation/Amortization:
Total segment depreciation/amortization	$	3,019	$	3,373	$	9,172	$	10,214
Corporate depreciation/amortization	467		466		1,390		1,354
Depreciation/amortization	$	3,486	$	3,839	$	10,562	$	11,568
Expenditures for Long-Lived Assets:
Total segment expenditures for long-lived assets	$	2,816	$	879	$	6,865	$	1,945
Corporate expenditures for long-lived assets	251		410		969		839
Expenditures for long-lived assets	$	3,067	$	1,289	$	7,834	$	2,784

The following table illustrates assets of the Company by reportable segment for the periods presented:


	September 30, 2024		December 31, 2023
Rail, Technologies, and Services	$	157,097	$	156,638
Infrastructure Solutions	130,052		130,247

Unallocated corporate assets	57,395		25,516
Total	$	344,544	$	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 nine months ended September 30, 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 (income) expense - net” for the nine months ended September 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 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 Company continues to operate its bridge forms product line which is a newer technology and not subject to the same challenging market conditions. The Bedford, PA based operations supporting the discontinued bridge grid deck product line expect to complete any remaining customer obligations during 2025. The discontinued product line had sales of $921 and $283 for the three months ended September 30, 2024 and 2023, respectively, and $2,888 and $3,749 for the nine months ended September 30, 2024 and 2023, respectively. During the three and nine months ended September 30, 2024, the Company incurred an immaterial amount of exit costs, all of which were personnel expenses. The Company does not expect to incur additional material exit costs in the remainder of 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, both of which were recorded in “Cost of goods sold,” as well as $262 in other exit costs, which were recorded in “Selling and administrative expenses.” The majority of such expenses were incurred in the last six months of 2023 and paid in early 2024.

On November 17, 2023, the Company acquired the operating assets of Caldwell, Idaho based Cougar Mountain Precast, LLC (“Cougar”), a licensed manufacturer and seller of Redi-Rock® products for $1,644, subject to hold back amount equal to $160 to be paid twelve months following the closing 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.

- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

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