L.B. Foster Company (NASDAQ:FSTR) Q4 2022 Earnings Call Transcript

Brett Kearney : Perfect. And then maybe on the precast platform, you’re seeing solid growth, it sounds like the legacy business as well as VanHooseCo. And your legacy business, I think coming off of The Great American Outdoors Act strength. Can you just talk about some of the — I guess some of the areas or markets, applications where you’re seeing to continue momentum on both parts of that?

John Kasel: Yes, so — yes, thanks for the question. The legacy side has been very strong related to The Great Outdoors American Act, and we expect to that end — we’re still seeing some activity coming through that. So a lot of that’s still going in the state, Federal national parks. That’s been good business for us. Very, very, very steady, very solid business. But we’re getting excited, though, we’re seeing with the acquisition of VanHooseCo, it gives us the opportunity to hit adjacent spaces that we were not serving with our legacy business, that getting into the moving or securing order, if you will. Some of the other industrial type products that go under building cities or building communities, building residential areas, we now have that opportunity to bring that into our existing facilities, as well as taking that geographic expansion that we’re now seeing going down in the Southeast, specifically in the Tennessee region between our two locations.

I said earlier that the acquisition has met our expectations. And I sure mean that from many fronts, not just from the P&L point of view, but from the cultural side of the two businesses coming together, and really coming together as one company. We’ve done a great job and our team — respectively, our teams in the facilities have done a great job of really driving the strategies, as well as driving the synergies of bringing that product in the marketplace. So we’re looking for a lot of the good aspirational stuff that we’ve been talking about relative to our growth. A good part of it’s going to be coming out of the Precast for years to come. We’re very pleased with that acquisition.

Operator: And I’m showing no further questions. I would like to turn the call back to John for closing remarks.

John Kasel: Thank you, Tanya. Thanks, everybody, for joining us today. We’re glad to put a book end to 2022. There’s been a lot of heavy lifting that’s done by the folks here in L.B. Foster Company, and I appreciate your support in us and patience, if you will. But this is just the beginning of what we see to be a transition year heading into some real growth and prosperity for our shareholders out there. So thanks for your support. And thanks to all the employees at L.B. Foster making this happen. Take care and have a great day.

Operator: This concludes today’s conference call. Thank you for participating. You may now disconnect.