FreightCar America Q1 net loss $5M, revenue $81M; reaffirms FY2023 outlook

FreightCar America, Inc.

2023-Q1 EPS reported -$0.19 revenue$80,999,000

Revenue $81.0M on 738 railcar deliveries; gross margin 9.2% ($7.5M gross profit).
Net loss ($5.0M) or ($0.19)/share; Adjusted Net Loss ($5.7M) or ($0.21)/share.
Adjusted EBITDA $2.1M vs $3.3M in Q1 2022 and $1.2M in prior quarter.
Received orders for 1,960 railcars; backlog 3,667 railcars valued at $413M.
Signed deal to issue non-convertible preferred stock to reduce debt and provide growth capital.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

FreightCar America, Inc. reported the first quarter ended March 31, 2023 results: revenue $81.0 million, net income ($5.0) million, EPS ($0.19) per share. Guidance reaffirmed.

Period: the first quarter ended March 31, 2023
Revenue: $81.0 million
Net income: ($5.0) million
EPS: ($0.19) per share
Guidance: reaffirmed
Result: reported results

Exact text from the filing

FreightCar America, Inc. (NASDAQ: RAIL) (“FreightCar America” or the “Company”), a diversified manufacturer of railroad freight cars, today reported results for the first quarter ended March 31, 2023. First Quarter 2023 Highlights • Revenues of $81.0 million on deliveries of 738 railcars, compared to revenues of $129.0 million on deliveries of 1,150 railcars in the prior quarter and revenues of $93.2 million on deliveries of 783 railcars in the first quarter of 2022 • Gross margin of 9.2% with gross profit of $7.5 million, compared to gross margin of 3.6% with gross profit of $4.6 million in the prior quarter and gross margin of 10.8% with gross profit of $10.1 million in the first quarter of 2022 • Net loss of ($5.0) million, or ($0.19) per share

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Source: SEC EDGAR

accession 0000950170-23-019724

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