FreightCar America, Inc. - RAIL STOCK NEWS

FreightCar America, Inc. (Nasdaq: RAIL), a prominent manufacturer of railroad freight cars, announced its participation in the 15th Annual Cowen Global Transportation & Sustainable Mobility Conference on September 7-8, 2022. Jim Meyer, CEO, and Michael Riordan, CFO, will host a fireside chat on September 7 from 2:40 PM to 3:10 PM CT. The session will be accessible via a live webcast on the company's Investor Relations page. FreightCar America specializes in the design and production of various railcars and has operations in multiple locations, including the US and Mexico.

FreightCar America reported a 52% increase in revenue for Q2 2022, totaling $56.8 million. Deliveries rose to 468 railcars, boosting net income to $14.5 million or $0.58 per share. The company's gross margin improved to 11.6%, with adjusted EBITDA of $2.3 million. FreightCar raised its revenue outlook for 2022 to between $340 million and $360 million, anticipating deliveries of 3,000 to 3,200 railcars. The strong backlog stands at 2,972 railcars, valued at approximately $320 million.

FreightCar America (NASDAQ: RAIL) will release its Q2 2022 financial results on August 8, 2022, after market close. A conference call and webcast for investors will take place on August 9, 2022, at 11:00 a.m. Eastern Time. Participants can access the live presentation on the company's Investor Relations page. A replay will be available from August 9, 2022, at 2:00 p.m. until August 24, 2022. FreightCar America specializes in manufacturing railroad freight cars and leasing services, with facilities in the U.S., Mexico, and China.

FreightCar America (Nasdaq: RAIL) has appointed three new independent directors to its Board: Rodger L. Boehm, José De Nigris, and Travis D. Kelly. This move, announced on June 28, 2022, expands the board to eight members. Chairman William Gehl expressed optimism about their extensive experience in financial and strategic leadership. Boehm has a background in operations at McKinsey & Company, De Nigris has significant automotive industry expertise, and Kelly has led Isola Group LLC as CEO. This change aims to enhance governance and operational excellence.

FreightCar America reported a first-quarter 2022 revenue of $93.2 million, a 188% increase year-over-year, driven by the delivery of 783 railcars. The company achieved a gross profit of $10.1 million, marking the sixth consecutive quarter of positive gross margins. However, a net loss of ($25.8 million), or ($1.11) per share, was recorded, largely due to a non-cash charge of $20.7 million. The company raised its delivery outlook for 2022 to between 2,800 and 3,000 railcars, expecting revenue of $320 million to $340 million this fiscal year.

FreightCar America (NASDAQ: RAIL) will host a conference call and live webcast on May 10, 2022, at 11:00 a.m. ET to discuss its Q1 2022 financial results. The earnings release will be made available before market opening on the same day. Investors and analysts can participate via a listen-only webcast or by dialing in. An audio replay will be available after the call until May 25, 2022. FreightCar America is a leading manufacturer of freight cars and railcar parts, headquartered in Chicago, with facilities in Mexico, Pennsylvania, and China.

FreightCar America (NASDAQ: RAIL) reported a significant increase in fiscal year 2021 revenue, rising 87% to $203.1 million. The fourth quarter alone saw a 23.8% year-over-year revenue growth to $75.0 million, driven by 604 railcar deliveries. The company has raised its 2022 delivery outlook to between 2,600 and 2,900 railcars. Despite a consolidated operating loss of $22.8 million for 2021, improvements in gross margin and operating income were noted for the fifth and third consecutive quarters, respectively. FreightCar aims to double production capacity to 4,000-5,000 railcars by 2023.

FreightCar America has announced the promotion of Michael Riordan to Chief Financial Officer (CFO) effective March 21, 2022. Riordan, who has served as Corporate Controller since November 2020, succeeds Terence Rogers, who is departing after a transition period. CEO Jim Meyer praised Riordan's significant contributions and leadership during his time at the company. Riordan expressed excitement for the role and the company's focus on sustainable growth. With over 15 years of finance and accounting experience, including previous roles at InnerWorkings and Wheatland Tube, Riordan aims to lead FreightCar America effectively.

FreightCar America, Inc. (Nasdaq: RAIL) will hold a conference call on March 22, 2022, at 11:00 a.m. (ET) to discuss its Q4 and full-year 2021 financial results. The earnings release will be available before market open on the same day. Participants can join via webcast or phone, with access codes provided. An audio replay will be available from 2:00 p.m. the same day until April 5, 2022. FreightCar America is a manufacturer of railroad freight cars and related parts, with facilities in Mexico, Pennsylvania, and Shanghai.