FreightCar America Stock Slips Post Q3 Results, Reiterates FY21 Delivery Outlook

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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