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FreightCar America Inc (NASDAQ: RAIL) delivers specialized aluminum railcar solutions for North American freight transportation. This news hub provides investors and industry professionals with timely updates on operational milestones, financial performance, and strategic initiatives from the 1901-founded manufacturer.
Access consolidated coverage of RAIL's manufacturing innovations, parts division developments, and market positioning. Our repository ensures you stay informed about critical updates including earnings disclosures, facility expansions, and leadership changes without speculative commentary.
All content reflects FreightCar America's core focus areas: advanced railcar engineering, customer-centric service models, and sustainable production practices. Discover how the company's century-old expertise influences modern freight logistics through verified reports on product launches, regulatory compliance, and supply chain partnerships.
Bookmark this page for streamlined access to essential RAIL developments. Combine historical context with real-time updates to better understand this industrial stalwart's role in shaping efficient rail transportation networks.
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.
FreightCar America (RAIL) is set to host a special investor update call today, outlining its strategic direction and 2021 highlights. The company transitioned manufacturing to Castaños, Mexico, and achieved significant operational milestones, including a fifth consecutive quarter of positive gross margin. In 2021, total railcar deliveries surged by 130% compared to 2020. Looking ahead, FreightCar aims to deliver between 2,350 and 2,650 railcars in 2022, achieving positive Adjusted EBITDA amid plans for substantial operational expansions.
FreightCar America (Nasdaq: RAIL) will host a strategic update call on February 8, 2022, at 11:00 a.m. (ET), to discuss its 2021 successes and 2022 outlook. Additionally, the company will hold a fourth quarter earnings call on March 22, 2022, and an annual meeting on May 12, 2022. The calls can be accessed via webcast or phone. Interested participants are encouraged to join early. An audio replay will be available post-call. For more details, visit FreightCar America's Investor Relations page.
FreightCar America (Nasdaq: RAIL) announced an amendment to its financing agreement, securing an additional $15 million in liquidity through a Delayed Draw Loan, available until January 31, 2023. This financing aims to bolster the company's working capital as it anticipates continued growth in railcar demand and production capabilities. CEO Jim Meyer expressed optimism about future industry demand, highlighting robust indicators and the support of their financial partner for sustainable growth.
FreightCar America (Nasdaq: RAIL) announced participation in the Stephens Annual Investment Conference on December 2, 2021. CEO Jim Meyer and CFO Terry Rogers will engage in a fireside chat from 1:00 PM CT to 1:45 PM CT, hosted by analyst Justin Long. They will also hold one-on-one meetings with investors. Interested parties can access a live webcast and replay of the chat through the Investor Relations section of FreightCar America's website.
Headquartered in Chicago, FreightCar America manufactures various railroad freight cars and provides leasing services.
