secwatch.observer — SEC 8-K summary
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Issuer:     FreightCar America, Inc. (RAIL)
CIK:        0001320854
Form:       8-K
Filed at:   2024-05-08T23:59:59+00:00
Accession:  0000950170-24-055715
Event type: earnings
Sentiment:  positive
Materiality: 0.75
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1320854/000095017024055715/0000950170-24-055715-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1320854/000095017024055715/rail-20240508.htm
  HTML page:      https://secwatch.observer/filing/0000950170-24-055715

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer