Freightcar America ( (RAIL) ) has released its Q3 earnings. Here is a breakdown of the information Freightcar America presented to its investors.
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FreightCar America, headquartered in Chicago, Illinois, is a prominent designer and supplier of railroad freight cars and related components, known for its innovative railcar solutions and long-standing presence in the North American supply chain.
FreightCar America reported a substantial 83% increase in revenue year-over-year for the third quarter of 2024, delivering 961 railcars compared to 503 in the same period last year. The company’s gross margin held steady at 14.3%, demonstrating strong operational performance.
Key financial highlights from the report include a significant adjusted EBITDA increase of 211% to $10.9 million, compared to $3.5 million in the previous year. Although the company reported a net loss of $107 million due to a non-cash loss on warrant liability, its adjusted net income rose to $7.3 million, reflecting an improved earnings quality. The company also ended the quarter with a robust backlog of 3,611 units valued at $372 million, indicating strong future demand.
FreightCar America’s management remains optimistic about maintaining its growth trajectory into the fourth quarter. With a focus on innovation and operational flexibility, the company is poised to deliver long-term value for its customers and shareholders, backed by a strong financial outlook for the remainder of the fiscal year.
