FreightCar America Q1 revenue up 188% to $93.2M; CEO to retire in 2023

FreightCar America, Inc.

2022-Q1 EPS reported -$1.11 revenue$93,236,000

Q1 revenue $93.2M, up 188% YoY; deliveries 783 railcars vs 309 YoY.
Net loss $25.8M ($1.11/share) including $20.7M non-cash warrant liability charge; Adjusted EBITDA $3.3M vs -$1.8M YoY.
FY2022 outlook: revenue $320M-$340M, railcar deliveries 2,800-3,000, raised from previous.
CEO Jim Meyer to retire in 2023 after successor appointed; board search underway.
Gross profit $10.1M with 10.8% margin, positive for sixth consecutive quarter.

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