Welcome to our dedicated page for FreightCar America news (Ticker: RAIL), a resource for investors and traders seeking the latest updates and insights on FreightCar America stock.
FreightCar America, Inc. (symbol: RAIL) is a leading manufacturer of railcars and components, serving diverse transportation needs primarily in North America. With a proud heritage dating back to 1901, FreightCar America is renowned as the home of the aluminum railcar and has earned a reputation for building high-quality railcars for over a century.
The company designs and produces a wide range of railcar types, including box cars, hoppers, covered hoppers, gondolas, and flat cars. These railcars cater to both intermodal and non-intermodal freight transportation, serving an extensive clientele that includes shippers, railroads, and financial institutions.
FreightCar America operates through two main segments: Manufacturing and Parts. The Manufacturing segment encompasses new railcar manufacturing, used railcar sales, leasing, and major rebuilds, whereas the Parts segment, along with corporate activities, forms Corporate and Other. The company's revenue is predominantly derived from its Manufacturing segment, with all revenue generated within the United States.
Recent achievements and projects highlight FreightCar America's commitment to innovation and customer satisfaction. The company has enhanced its production facilities and leveraged its vast design knowledge and experience in aluminum railcar building to expand its product line, providing significant cost benefits to customers.
Quality is a core value at FreightCar America. Every employee is dedicated to achieving a high degree of excellence, ensuring that every railcar meets rigorous standards. This commitment extends to customer service, beginning with the first customer contact and continuing throughout the life of each railcar.
Latest News: The company has recently raised its outlook for fiscal year 2023. Investors, analysts, and members of the media interested in the latest updates can access the Second Quarter 2023 Conference Call & Webcast Information. Further details and forward-looking statements are also available.
For investor inquiries, contact: RAILIR@Riveron.com
FreightCar America (NASDAQ: RAIL) has announced that it will disclose its Q1 2023 financial results on May 9, 2023, post-market close. A conference call with a live webcast is scheduled for May 10, 2023, at 11:00 a.m. ET, accessible via the Company’s Investor Relations page. Investors and analysts can join the presentation online, although it will be listen-only. For those wishing to participate, a dial-in option is available, and an audio replay will be accessible from May 10 at 2:00 p.m. until May 25 at 12:00 a.m. ET. FreightCar America is a manufacturer of railroad freight cars and related parts, with operations in the U.S., Mexico, and China. More details can be found on their website.
FreightCar America reported a significant 80% increase in fiscal year 2022 revenues, totaling $364.8 million from 3,184 railcar deliveries. Gross profit surged to $25.8 million, with a gross margin of 7.1%. Despite a net loss of ($38.8) million due to non-cash items, adjusted EBITDA improved to $8.4 million. The company anticipates continued momentum in fiscal 2023, projecting revenues between $400 - $430 million and adjusted EBITDA of $15 - $20 million. The current backlog stands at 2,445 railcars, valued at approximately $288 million.
FreightCar America announced an agreement to issue non-convertible preferred stock to improve its capital structure. This issuance, scheduled for May 22, 2023, involves approximately 85,000 shares at a price of $1,000 each. Proceeds will fully retire term loan debt and provide working capital for growth initiatives, particularly in Castaños. The company expects around $10 million improvement in annual operating cash flows from cost savings. CFO Mike Riordan highlighted the transaction's role in lowering interest costs and enhancing operational capacity amidst strong demand for railcars.
FreightCar America (NASDAQ: RAIL) will disclose its Q4 and full year 2022 financial results on March 27, 2023, post-market. A conference call with a live webcast is scheduled for March 28, 2023, at 11:00 a.m. ET, available through the company's Investor Relations page. Participants can dial in by calling (877) 407-0789 or (201) 689-8562, using passcode 13736892. An audio replay will be accessible from 2:00 p.m. ET on March 28 until April 12, 2023. FreightCar America, a manufacturer of railroad freight cars, operates facilities in Chicago, Johnstown, and Mexico.
FreightCar America reported a 47% increase in third-quarter 2022 revenue, reaching $85.7 million with 783 railcars delivered. This marks a 55% rise in deliveries year-over-year. The gross margin improved to 5.3%, up from 2.6% in Q3 2021, resulting in a gross profit of $4.6 million. However, the company faced a net loss of $17.8 million, largely due to non-cash items. The backlog stands at 2,529 railcars, valued at approximately $276 million. FreightCar America reaffirmed its full-year revenue outlook of $340 million to $360 million.
FAQ
What is the current stock price of FreightCar America (RAIL)?
What is the market cap of FreightCar America (RAIL)?
What does FreightCar America, Inc. specialize in?
What types of railcars does FreightCar America produce?
Who are FreightCar America's main clients?
What are the main business segments of FreightCar America?
Where does FreightCar America generate its revenue?
What recent projects has FreightCar America undertaken?
How does FreightCar America ensure the quality of its railcars?
What is FreightCar America's outlook for fiscal year 2023?
How can investors get the latest updates on FreightCar America?
How can I contact FreightCar America's investor relations?
