FreightCar America, Inc. Reports Third Quarter 2026 Results
Backlog Value Up 28% Year over Year
Aftermarket Revenue Growth of 65% Year over Year
Reaffirms Fiscal Year 2026 Outlook Provided on October 19
CHICAGO, Nov. 09, 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 third quarter ended September 30, 2026. Third quarter results were consistent with the preliminary results the Company announced on October 19, 2026.
Third Quarter 2026 Highlights
“While our third quarter results reflect a challenging period for the business, they were consistent with the preliminary figures we reported in October,” said Nick Randall, President and Chief Executive Officer of FreightCar America. “We continued to make progress on our commercial priorities, with order intake through the first nine months exceeding our total for all of 2025 and backlog value up 28% year over year. Following quarter end, we completed our third aftermarket acquisition, further expanding our parts and components offering.”
Randall continued, “Looking ahead, some industry indicators are improving, although we have yet to see that translate into broader growth in railcar demand. Our backlog provides visibility into planned production, and our focus remains on disciplined execution, cost control and converting orders into profitable deliveries. We continue to integrate our acquisitions and grow our aftermarket business, while maintaining the manufacturing flexibility to respond to changes in customer demand.”
Fiscal Year 2026 Outlook
The Company is reaffirming its outlook for fiscal year 2026, as provided on October 19, 2026:
1. The Company does not provide a reconciliation of forward-looking Adjusted EBITDA guidance due to the inherent difficulty in forecasting and quantifying adjustments necessary to calculate such non-GAAP measure without unreasonable effort. Material changes to such adjustments, including warrant liability and non-core operating items, could affect future GAAP results.
Mike Riordan, Chief Financial Officer of FreightCar America, added, “Our balance sheet remains solid, with no borrowings under our revolving credit facility. Our cost structure has improved, and our aftermarket business is contributing a growing share of our results. Integration of our acquired businesses is on track, and our most recent acquisition is expected to be immediately accretive, consistent with our capital allocation priorities. With our full-year outlook unchanged, our focus is on converting our backlog into profitable deliveries.”
Third Quarter 2026 Conference Call & Webcast Information
The Company will host a conference call and live webcast on Tuesday, November 10, 2026, at 11:00 a.m. (Eastern Time) to discuss its third quarter 2026 financial results. FreightCar America invites shareholders and other interested parties to listen to its financial results conference call. Teleconference details are as follows:
An audio replay of the conference call will be available beginning at 3:00 p.m. (Eastern Time) on Tuesday, November 10, 2026, until 11:59 p.m. (Eastern Time) on Tuesday, November 24, 2026. To access the replay, please dial (844) 512-2921 or (412) 317-6671. The replay passcode is 13763137. An archived version of the webcast will also be available on the FreightCar America Investor Relations website.
About FreightCar America
FreightCar America, headquartered in Chicago, Illinois, is a leading designer, producer and supplier of railroad freight cars, railcar parts and components. We also specialize in railcar repairs, complete railcar rebody services and railcar conversions that repurpose idled rail assets back into revenue service. Since 1901, our customers have trusted us to build quality railcars that are critical to economic growth and instrumental to the North American supply chain. To learn more about FreightCar America, visit www.freightcaramerica.com.
Forward-Looking Statements
This press release contains statements relating to our expected financial performance, financial condition, and/or future business prospects, events and/or plans that are “forward-looking statements” as defined under the Private Securities Litigation Reform Act of 1995. Forward-looking statements represent our estimates and assumptions only as of the date of this press release. Our actual results may differ materially from the results described in or anticipated by our forward-looking statements due to certain risks and uncertainties. These risks and uncertainties relate to, among other things, the cyclical nature of our business; adverse geopolitical, economic and market conditions, including inflation; material disruption in the movement of rail traffic for deliveries; fluctuating costs of raw materials, including steel and aluminum; delays in the delivery of raw materials; our ability to maintain relationships with our suppliers of railcar components; our reliance upon a small number of customers that represent a large percentage of our sales; the variable purchase patterns of our customers and the timing of completion, delivery and customer acceptance of orders; the highly competitive nature of our industry; the risk of lack of acceptance of our new railcar offerings; our ability to successfully integrate acquired businesses and realize the anticipated benefits of acquisitions; potential unexpected changes in laws, rules, and regulatory requirements, including tariffs and trade barriers (including recent United States tariffs imposed or threatened to be imposed on China, Canada, Mexico and other countries and any retaliatory actions taken by such countries); and other competitive factors. The factors listed above are not exhaustive. New factors emerge from time to time that may cause our business not to develop as we expect, and it is not possible for us to predict all of them. We expressly disclaim any duty to provide updates to any forward-looking statements made in this press release, whether as a result of new information, future events or otherwise.
Non-GAAP Financial Measures
This press release includes measures not derived in accordance with generally accepted accounting principles (“GAAP”), such as EBITDA, Adjusted EBITDA, Adjusted net income (loss), Adjusted EPS, and Free cash flow. These non-GAAP measures should not be considered in isolation or as a substitute for any measure derived in accordance with GAAP and may also be inconsistent with similar measures presented by other companies. Reconciliations of these measures to the applicable most closely comparable GAAP measures, and reasons for the Company’s use of these measures, are presented in the attached pages.
Investor Contact: chris@jbgcapadvisory.com
FreightCar America, Inc.
Condensed Consolidated Segment Information
(In thousands)
(Unaudited)
(1) Other segment items in Manufacturing and Aftermarket segments include selling, general and administrative expenses.
(1) Other segment items in Manufacturing and Aftermarket segments include selling, general and administrative expenses.
FreightCar America, Inc.
Condensed Consolidated Statements of Cash Flows
(In thousands)
(Unaudited)
(1) EBITDA represents earnings before interest, taxes, depreciation and amortization. We believe EBITDA is useful to investors in evaluating our operating performance compared to that of other companies in our industry. In addition, our management uses EBITDA to evaluate our operating performance. The calculation of EBITDA eliminates the effects of financing, income taxes and the accounting effects of capital spending. These items may vary for different companies for reasons unrelated to the overall performance of the company’s business. EBITDA is not a financial measure presented in accordance with U.S. GAAP. Accordingly, when analyzing our operating performance, investors should not consider EBITDA in isolation or as a substitute for net income or other statements of operations or statements of cash flow data prepared in accordance with U.S. GAAP. Our calculation of EBITDA is not necessarily comparable to that of other similarly titled measures reported by other companies.
(2) Adjusted EBITDA represents EBITDA before the following charges:
We believe that Adjusted EBITDA is useful to investors evaluating our operating performance compared to that of other companies in our industry because it eliminates the impact of certain non-cash charges and other special items that affect the comparability of results in past quarters. Adjusted EBITDA is not a financial measure presented in accordance with U.S. GAAP. Accordingly, when analyzing our operating performance, investors should not consider Adjusted EBITDA in isolation or as a substitute for net income or other statements of operations or statements of cash flow data prepared in accordance with U.S. GAAP. Our calculation of Adjusted EBITDA is not necessarily comparable to that of other similarly titled measures reported by other companies.
(1) Adjusted net (loss) income represents net (loss) income before the following charges:
We believe that Adjusted net income is useful to investors evaluating our operating performance compared to that of other companies in our industry because it eliminates the impact of certain non-cash charges and other special items that affect the comparability of results in past quarters. Adjusted net income is not a financial measure presented in accordance with U.S. GAAP. Accordingly, when analyzing our operating performance, investors should not consider Adjusted net income in isolation or as a substitute for net income or other statements of operations or statements of cash flow data prepared in accordance with U.S. GAAP. Our calculation of Adjusted net income is not necessarily comparable to that of other similarly titled measures reported by other companies.
(1) Adjusted EPS represents diluted EPS before the following charges:
We believe that Adjusted EPS is useful to investors evaluating our operating performance compared to that of other companies in our industry because it eliminates the impact of certain non-cash charges and other special items that affect the comparability of results in past quarters. Adjusted EPS is not a financial measure presented in accordance with U.S. GAAP. Accordingly, when analyzing our operating performance, investors should not consider Adjusted EPS in isolation or as a substitute for net income or other statements of operations or statements of cash flow data prepared in accordance with U.S. GAAP. Our calculation of Adjusted EPS is not necessarily comparable to that of other similarly titled measures reported by other companies.
FreightCar America, Inc.
Reconciliation of Cash flows provided by operating activities and Free cash flow (1)
(In thousands)
(Unaudited)
(1) Free cash flow represents the amount of Cash flows provided by operating activities less capital expenditures.
We believe that Free cash flow is useful to investors evaluating our operating performance compared to that of other companies in our industry because these metrics provide key insights into the potential for growth and ability to generate returns for investors. Free cash flow is not a financial measure presented in accordance with U.S. GAAP. Accordingly, when analyzing our operating performance, investors should not consider Free cash flow in isolation or as a substitute for Cash flows from operating activities or other statements of operations or statements of cash flow data prepared in accordance with U.S. GAAP. Our calculation of Free cash flow is not necessarily comparable to that of other similarly titled measures reported by other companies.