- FreightCar America, Inc. RAIL reported third-quarter revenue growth of 131% year-over-year to $58.3 million, which misses the consensus of $60 million.
- The company delivered 505 railcars in Q3 versus 313 railcars prior quarter and 163 railcars in Q3 2020.
- FreightCar America reported a gross profit of $1.54 million versus $(4.08) million a year ago. The gross margin for the quarter was 2.6%.
- EPS was $0.03 versus $(3.03) in 3Q20.
- The operating loss reduced to $(4.16) million from $(41.34) million a year ago.
- Adjusted EBITDA loss decreased to $(3.54) million from $(7.97) million in 3Q20.
- The company's quarter-end backlog totaled 1,895 railcars with a value of ~$198 million.
- FreightCar America held cash and equivalents of $27.5 million as of September 30, 2021.
- The company used cash in operating activities year-to-date of $56.96 million, compared to $38.98 million a year ago.
- "While industry demand fundamentals remain strong, the pace of recovery is being gated by certain external factors starting with raw material cost inflation," noted CEO Jim Meyer.
- FreightCar America reiterated its FY21 delivery outlook of 1,750 - 1,850 railcars.
- Price Action: RAIL shares are trading lower by 2.69% at $4.70 on the last check Monday.
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