Welcome to our dedicated page for Freightcar Amer news (Ticker: RAIL), a resource for investors and traders seeking the latest updates and insights on Freightcar Amer stock.
FreightCar America, Inc. (NASDAQ: RAIL) is a designer, producer and supplier of railroad freight cars, railcar parts and components headquartered in Chicago, Illinois. This news page aggregates company announcements and third-party coverage related to RAIL, giving readers a focused view of developments affecting the business and its stock.
Recent company communications describe FreightCar America as a diversified manufacturer and supplier of railroad freight cars with a growing emphasis on railcar repairs, complete rebody services and conversions that return idled rail assets to revenue service. News items often highlight the company’s operating performance, order activity, backlog, and commentary from management on manufacturing flexibility and commercial strategy.
Investors following RAIL can expect news about quarterly financial results and outlook, including revenue trends, margins, cash flow and guidance updates, which are typically accompanied by conference call details and subsequent Form 8-K filings. Coverage also includes corporate actions and governance updates, such as the adoption of a limited duration stockholder rights plan and amendments to executive employment arrangements related to change-in-control severance benefits.
Another area of focus is strategic transactions and growth initiatives. For example, FreightCar America has reported the acquisition of Carly Railcar Components, LLC, a distributor of OEM railcar components intended to strengthen its aftermarket distribution business and expand its catalog of running-repair components. Readers can also find announcements about the company’s participation in investor conferences and virtual events, where management presents its strategy and meets with investors.
By reviewing the RAIL news feed on this page, users can track how FreightCar America communicates its performance, strategy and capital allocation decisions over time, and see how these disclosures relate to the company’s role in the North American freight rail market.
FreightCar America has announced the promotion of Michael Riordan to Chief Financial Officer (CFO) effective March 21, 2022. Riordan, who has served as Corporate Controller since November 2020, succeeds Terence Rogers, who is departing after a transition period. CEO Jim Meyer praised Riordan's significant contributions and leadership during his time at the company. Riordan expressed excitement for the role and the company's focus on sustainable growth. With over 15 years of finance and accounting experience, including previous roles at InnerWorkings and Wheatland Tube, Riordan aims to lead FreightCar America effectively.
FreightCar America, Inc. (Nasdaq: RAIL) will hold a conference call on March 22, 2022, at 11:00 a.m. (ET) to discuss its Q4 and full-year 2021 financial results. The earnings release will be available before market open on the same day. Participants can join via webcast or phone, with access codes provided. An audio replay will be available from 2:00 p.m. the same day until April 5, 2022. FreightCar America is a manufacturer of railroad freight cars and related parts, with facilities in Mexico, Pennsylvania, and Shanghai.
FreightCar America (RAIL) is set to host a special investor update call today, outlining its strategic direction and 2021 highlights. The company transitioned manufacturing to Castaños, Mexico, and achieved significant operational milestones, including a fifth consecutive quarter of positive gross margin. In 2021, total railcar deliveries surged by 130% compared to 2020. Looking ahead, FreightCar aims to deliver between 2,350 and 2,650 railcars in 2022, achieving positive Adjusted EBITDA amid plans for substantial operational expansions.
FreightCar America (Nasdaq: RAIL) will host a strategic update call on February 8, 2022, at 11:00 a.m. (ET), to discuss its 2021 successes and 2022 outlook. Additionally, the company will hold a fourth quarter earnings call on March 22, 2022, and an annual meeting on May 12, 2022. The calls can be accessed via webcast or phone. Interested participants are encouraged to join early. An audio replay will be available post-call. For more details, visit FreightCar America's Investor Relations page.
FreightCar America (Nasdaq: RAIL) announced an amendment to its financing agreement, securing an additional $15 million in liquidity through a Delayed Draw Loan, available until January 31, 2023. This financing aims to bolster the company's working capital as it anticipates continued growth in railcar demand and production capabilities. CEO Jim Meyer expressed optimism about future industry demand, highlighting robust indicators and the support of their financial partner for sustainable growth.
FreightCar America (Nasdaq: RAIL) announced participation in the Stephens Annual Investment Conference on December 2, 2021. CEO Jim Meyer and CFO Terry Rogers will engage in a fireside chat from 1:00 PM CT to 1:45 PM CT, hosted by analyst Justin Long. They will also hold one-on-one meetings with investors. Interested parties can access a live webcast and replay of the chat through the Investor Relations section of FreightCar America's website.
Headquartered in Chicago, FreightCar America manufactures various railroad freight cars and provides leasing services.
FreightCar America (NASDAQ: RAIL) reported robust results for Q3 2021 with revenues of $58.3 million, up 131% year-over-year, driven by the delivery of 505 railcars. This marks the fourth consecutive quarter of positive gross margin at $1.5 million and the second consecutive quarter of positive manufacturing operating income at $0.2 million. Net income reached $0.7 million or $0.03 per share. The company reiterated its delivery outlook for 2021, expecting between 1,750 to 1,850 railcars. Total cash as of September 30, 2021, stood at $27.5 million, boosted by a $10.2 million VAT receivable collection in Mexico.
FreightCar America (Nasdaq: RAIL) will host a conference call on November 15, 2021, at 11:00 a.m. (ET) to discuss its Q3 2021 financial results. The earnings release will be available before market open on the same day. Investors can join the call via webcast or by dialing in. An audio replay will be accessible from 2:00 p.m. on November 15 until November 29. FreightCar America manufactures and leases railroad freight cars and operates facilities in Chicago, Pennsylvania, Mexico, and China. More details can be found on its website.
FreightCar America (Nasdaq: RAIL) announced participation of CEO Jim Meyer and CFO Terry Rogers in Cowen’s 14th Annual Global Transportation & Sustainable Mobility Conference on September 8, 2021, at 2:00 PM ET. Interested individuals can access a live webcast of the event on the Company's Investor Relations website, along with a replay of the session hosted by Cowen’s transportation analyst Matt Elkott. FreightCar America specializes in manufacturing and leasing various types of railroad freight cars and is headquartered in Chicago with facilities in Mexico, Pennsylvania, and China.
FreightCar America (NASDAQ: RAIL) reported a strong second quarter, achieving revenue of $37.4 million, a 114% year-over-year increase with 313 railcars delivered. This marks the third consecutive quarter of positive gross margin at $3.6 million and the first positive manufacturing operating income since 2018 at $1.9 million. Despite a net loss of ($2.6 million), the company raised its delivery outlook for 2021 to 1,750-1,850 railcars and plans to add two production lines to increase capacity. A new $25 million line of credit will support growth efforts.