Improved Profitability and Cash Generation
Gross margins increased by 100 basis points to 22.3% in Q4 2024, with adjusted EBITDA up 18.7% to $7.2 million. Operating cash totaled $24.3 million, contributing to a $20.9 million reduction in net debt.
Rail Segment Growth
Rail segment revenues increased by 14.2% in Q4 2024, driven by higher volumes. Gross margins in this segment were up 300 basis points.
Strategic Playbook Execution
The company repurchased 2.7% of outstanding shares in 2024, finalized the Union Pacific settlement, and announced a new $40 million stock buyback program.
Strong Full Year Financial Performance
2024 reported sales were $530.8 million with gross margins expanding to 22.2%, and adjusted EBITDA increasing by $1.8 million to $33.6 million.
Precast Concrete and Rail Friction Management Growth
Backlog for precast concrete increased by 4.6%, and friction management backlog increased by 53.4%.