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GlobeNewsWire
1 month ago
FreightCar America, Inc. Reports Second Quarter 2026 Results
Exceptional Order Intake and Increasing Market Share Drive Sequential Backlog Growth of 121% Aftermarket Revenue Growth of 13% Year over Year; Second Aftermarket Acquisition Completed Following Quarter End Operating Cash Flow of $12.1 Million and Free Cash Flow of $11.3 Million, Up 43% Year over Year CHICAGO, Aug. 03, 2026 (GLOBE NEWSWIRE) -- FreightCar America, Inc. (NASDAQ: RAIL) (“FreightCar America” or the “Company”), a diversified manufacturer and supplier of railroad freight cars, railcar parts and components, today reported results for the second quarter ended June 30, 2026. Second Quarter 2026 Highlights Revenues of $113.1 million, compared to $118.6 million in the second quarter of 2025, with railcar deliveries of 927 units compared to 939 units in the prior year period Aftermarket revenues grew 13% year over year, reflecting continued organic growth in parts and components and the contribution from our recent acquisition Gross margin of 5.5% with gross profit of $6.2 million, inclusive of $2.2 million of workforce realignment costs, compared to gross margin of 15.0% with gross profit of $17.8 million in the second quarter of 2025 Recorded a $24.9 million non-cash loss related to share price appreciation accounting on the warrant liability, resulting in a net loss of $30.1 million, or $(0.94) per diluted share, and adjusted net loss of $0.8 million, or $(0.02) per diluted share, compared to adjusted net income of $3.8 million, or $0.11 per diluted share, in the prior year period Holder exercised outstanding warrants during the quarter, reducing the warrant liability to $14.0 million at June 30, 2026 from $119.4 million at March 31, 2026 and resulting in positive stockholders' equity of $36.2 million Adjusted EBITDA of $1.2 million, representing a margin of 1.0%, compared to $9.3 million and a margin of 7.8% in the second quarter of 2025 Ended the quarter with a backlog of 3,972 units valued at $344 million, reflecting a diversified mix of new railcar builds, conversions and retrofits “Our second-quarter results reflect two different realities,” said Nick Randall, President and Chief Executive Officer of FreightCar America.
