L.B. Foster Outlines Growth Plans at Sidoti Conference

Company highlights shift to higher-margin rail tech and precast concrete offerings

Mar. 22, 2026 at 11:06am

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L.B. Foster executives detailed the company's strategy, growth priorities, and 2026 outlook during a Sidoti & Company event. The company has undergone a multi-year portfolio refresh, shifting its focus toward higher-margin rail technology and expanded precast concrete offerings. Management emphasized the company's investments in friction management, track monitoring, and water-related precast products as key growth drivers.

Why it matters

L.B. Foster's strategic shift demonstrates how industrial companies are adapting to changing market demands and technological advancements. The company's focus on higher-margin, value-added offerings in rail and infrastructure solutions reflects broader industry trends toward efficiency, safety, and sustainability.

The details

L.B. Foster, founded in 1902 and headquartered in Pittsburgh, generates about 92% of its business in North America. The company has made several key acquisitions in recent decades to broaden its capabilities and geographic reach, including CXT (precast and prestressed concrete), Portec Rail (which expanded the company's presence into Western Europe), and TEW Plus (which added technology innovation). Management highlighted the company's growing emphasis on higher-value rail technology offerings, such as friction management and track monitoring solutions, which help customers operate more efficiently and safely. In the Infrastructure Solutions segment, L.B. Foster is seeing strong demand for its precast concrete products, particularly in the water transmission market, which the company views as a key long-term growth opportunity.

  • L.B. Foster outlined its strategy and 2026 outlook during a Sidoti & Company event on March 22, 2026.
  • The company has undergone a multi-year portfolio refresh since 2021, which has resulted in doubled EBITDA on about 5% sales growth.

The players

L.B. Foster

A diversified infrastructure solutions provider founded in 1902 and headquartered in Pittsburgh, Pennsylvania. The company operates in the Rail Products & Services, Construction Products, and Tubular & Energy Products segments.

John Kasel

President and CEO of L.B. Foster.

William Thalman

Executive Vice President and CFO of L.B. Foster.

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What they’re saying

“Friction management is now 'required' by customers, contrasting it with earlier years when it 'wasn't really understood.'”

— John Kasel, President and CEO

“We have doubled EBITDA on about 5% sales growth since 2021, with margins expanding about 430 basis points.”

— William Thalman, Executive Vice President and CFO

What’s next

L.B. Foster plans to provide an updated three-to-five-year projection later in the year after reporting a couple of strong quarters.

The takeaway

L.B. Foster's strategic shift toward higher-margin rail technology and precast concrete offerings reflects the company's efforts to adapt to changing market demands and technological advancements in the infrastructure industry. The company's focus on value-added solutions that improve efficiency, safety, and sustainability positions it for potential long-term growth.