What L.B. Foster Company told the SEC could break it.

L.B. Foster is a PRP at an EPA harbor site whose selected remedy the EPA estimates at ~$1.1B NPV ($1.7B undiscounted) over as long as 13 years, exposing the Company to material long-tail environmental liability.

“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.”

U.S. tariffs on steel and aluminum and retaliatory foreign tariffs create cost and operational uncertainty for L.B. Foster, which sources steel and sells into Brazil, Canada, China, India, Mexico, the UK and the EU.

“The US government has imposed tariffs on certain foreign goods, including steel and aluminum, and has indicated the possibility of additional tariffs on other goods. In response, several foreign governments have imposed retaliatory tariffs on US goods. Uncertainties surrounding tariffs, trade agreements, or any potential trade disputes could cause disruptions in our operations and increase our costs.”

Certain L.B. Foster divisions depend on a small number of suppliers — Protective Coatings is predominantly reliant on two epoxy-coating suppliers and Rail Products on a limited number — so losing one could materially harm operations.

“In our Rail Products business unit, we rely on a limited number of suppliers for key products that we sell to our customers. Our Protective Coatings division is predominately dependent on two suppliers of epoxy coating.”