FreightCar America Q1 revenue up 99% YoY to $161.1M; reaffirms FY2024 guidance

FreightCar America, Inc.

2024-Q1 EPS reported -$0.54 revenue$161,058,000

Q1 revenue $161.1M (+99% YoY) on 1,223 railcar deliveries vs 738 last year; record quarterly deliveries from Mexico plant.
Net loss ($11.6M) or ($0.54)/share; adjusted net income $4.9M ($0.02)/share on non-cash warrant liability adjustments.
Adjusted EBITDA $6.1M vs $2.1M YoY; gross margin 7.1% vs 9.2% but gross profit $11.4M vs $7.5M.
FY2024 guidance reaffirmed: revenue $520-$572M, Adj. EBITDA $32-$38M, deliveries 4,000-4,400 (39% YoY growth at midpoint).
CEO Nick Randall notes factory complete with 5,000+ railcar annual capacity; focused on profitable growth and margin expansion.

item 2.02 item 7.01 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 first quarter ended March 31, 2024 results: revenue $161.1 million, net income ($11.6) million, EPS ($0.54) per share. Guidance reaffirmed.

Period: first quarter ended March 31, 2024
Revenue: $161.1 million
Net income: ($11.6) million
EPS: ($0.54) per share
Guidance: reaffirmed
Result: reported results

Exact text from the filing

“Company”), a diversified manufacturer of railroad freight cars, today reported results for the first quarter ended March 31, 2024. First Quarter 2024 Highlights • Revenues of $161.1 million on 1,223 railcar deliveries, an increase of 99% compared to revenues of $81.0 million on 738 railcar deliveries in the first quarter of 2023 • Gross margin of 7.1% with gross

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Source: SEC EDGAR

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