8-K
filed March 18, 2024, 7:59 PM ET
ticker RAIL
CIK 0001320854
leadership
confidence high
sentiment neutral
materiality 0.80
FreightCar America reports FY2023 Adj EBITDA $20.1M, guides FY2024 revenue $520-572M; CEO transition to Nick Randall
FreightCar America, Inc.
- FY2023 revenue $358.1M (-1.8% YoY); net loss $23.6M ($1.18/share); Adj EBITDA $20.1M vs $8.4M in FY2022.
- Q4 2023 rev $126.6M, 1,021 railcars; gross margin 9.6% vs 3.6%; Adj EBITDA $6.5M.
- FY2024 guidance: revenue $520-572M, deliveries 4,000-4,400, Adj EBITDA $32-38M.
- CEO Jim Meyer resigns effective May 1, becomes Executive Chairman; COO Nick Randall appointed President and CEO.
- William Gehl transitions from Chairman to Lead Independent Director, effective May 1.
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 fourth quarter ended December 31, 2023 results: revenue $126.6 million, net income Net loss of ($2.9) million, EPS ($0.24) per share.
- Period
- the fourth quarter ended December 31, 2023
- Revenue
- $126.6 million
- Net income
- Net loss of ($2.9) million
- EPS
- ($0.24) per share
- Result
- reported results
Exact text from the filing
and become a member of the Company’s Board of Directors, while Mr. Meyer will assume the role of Executive Chairman of the Board Fourth Quarter 2023 Highlights • Revenues of $126.6 million on 1,021 railcar deliveries, a decrease of 1.9% compared to revenues of $129.0 million on 1,150 railcar deliveries in the fourth quarter of 2022 • Gross margin of 9.6% with gross
View on SEC.gov
Earnings Releases
SEC 8-K Item 2.02
confidence 0.9
FreightCar America, Inc. reported the fourth quarter and full year ended December 31, 2023 results: revenue $358.1 million, net income Net loss of ($23.6) million, EPS ($1.18) per share. Guidance initiated.
- Period
- the fourth quarter and full year ended December 31, 2023
- Revenue
- $358.1 million
- Net income
- Net loss of ($23.6) million
- EPS
- ($1.18) per share
- Guidance
- initiated
- Result
- reported results
Exact text from the filing
diversified manufacturer of railroad freight cars, today reported results for the fourth quarter and full year ended December 31, 2023. Fiscal Year 2023 Highlights • Revenues of $358.1 million, down 1.8% year-over-year, on deliveries of 3,022 railcars, down 5.1% year-over-year • Gross margin of 11.7% with gross profit of $41.8 million, compared to gross margin of 7.1%
View on SEC.gov
Earnings Releases
SEC 8-K Item 2.02
confidence 0.9
FreightCar America, Inc. reported fiscal year 2024 results: revenue $520 - $572 million. Guidance initiated.
- Period
- fiscal year 2024
- Revenue
- $520 - $572 million
- Guidance
- initiated
- Result
- guidance update
Exact text from the filing
The Company’s outlook for fiscal year 2024 is as follows: Fiscal 2024 Outlook Year-over-Year Growth at Midpoint Revenue $520 - $572 million 52.5% Adjusted EBITDA $32 - $38 million 74.1% Railcar Deliveries 4,000 – 4,400 Railcars 39.0%
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 1.0
William Gehl was appointed as Lead Independent Director at FreightCar America, Inc..
- Action
- appointed
- Role
- Lead Independent Director
Exact text from the filing
Mr. Gehl was also appointed as the Board’s Lead Independent Director, effective May 1, 2024
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 1.0
Nicholas J. Randall was appointed as President and Chief Executive Officer at FreightCar America, Inc..
- Action
- appointed
- Role
- President and Chief Executive Officer
Exact text from the filing
On March 14, 2024, the Company appointed Nicholas J. Randall as President and Chief Executive Officer of the Company, effective May 1, 2024.
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 1.0
Nicholas J. Randall was appointed as Director at FreightCar America, Inc..
- Action
- appointed
- Role
- Director
Exact text from the filing
effective May 1, 2024, the Board approved an increase in the size of the Board from eight (8) directors to nine (9) directors and Mr. Randall will be appointed by the Board to serve as a director
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 1.0
James R. Meyer was appointed as Executive Chairman at FreightCar America, Inc..
- Action
- appointed
- Role
- Executive Chairman
Exact text from the filing
Effective May 1, 2024, Mr. Meyer will become Executive Chairman of the Board in lieu of William Gehl
View on SEC.gov
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