Research News and Market Data on RAIL
08/03/2026
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. “Commercially, we delivered one of the strongest order quarters in our recent history, with backlog value increasing 121% sequentially and our share of industry new-railcar orders reaching approximately 45%. Operationally, the production ramp began later than planned due to customer delivery timing, reducing fixed-cost absorption and shifting a portion of expected 2026 deliveries into early 2027.”
Randall continued, “We realigned our Castaños operating footprint to the productivity improvements achieved over the past two years, while preserving the installed capacity and critical capabilities required to scale. As a result, we expect to generate approximately $12 million of annualized structural savings, with benefits beginning in the third quarter. Combined with 13% growth in aftermarket revenue and the addition of our second acquisition following quarter-end, we enter the second half with a substantially larger backlog, a lower cost base and a broader presence across the railcar lifecycle.”
Fiscal Year 2026 Outlook
The Company has updated its outlook for fiscal year 2026 as follows:
| Updated Fiscal 2026 Outlook | Year-over-Year Change at Midpoint of Range | |
| Railcar Deliveries | 3,500 – 3,900 railcars | (10.3)% |
| Revenue | $410 – $460 million | (13.2)% |
| Adjusted EBITDA1 | $36 – $44 million | (2.9)% |
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, “Free cash flow rose 43% year over year to $11.3 million, while we maintained solid balance sheet flexibility. We also closed our second aftermarket acquisition in under a year, an immediately accretive addition to our business as we continue to execute on our capital allocation priorities. While our updated full-year outlook reflects the shift in new railcar delivery timing, our lower cost structure and robust order intake support stronger results in the back half. Our long-term growth trajectory and value we are building for the years ahead remain firmly on track.”
Second Quarter 2026 Conference Call & Webcast Information
The Company will host a conference call and live webcast on Tuesday, August 4, 2026, at 11:00 a.m. (Eastern Time) to discuss its second 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:
- August 4, 2026
- 11:00 a.m. Eastern Time
- Phone: 1-877-407-0789 or 1-201-689-8562
- Webcast access: FreightCar America Second Quarter 2026 Earnings Conference Call – 1769392
An audio replay of the conference call will be available beginning at 3:00 p.m. (Eastern Time) on Tuesday, August 4, 2026, until 11:59 p.m. (Eastern Time) on Tuesday, August 18, 2026. To access the replay, please dial (844) 512-2921 or (412) 317-6671. The replay passcode is 13761654. 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; 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: | [email protected] |
Source: FreightCar America, Inc.