FreightCar America, Inc. Reports Third Quarter 2026 Results
Key Highlights
- ➤Revenue $76.5 million, down from $160.5 million year over year
- ➤Adjusted net loss $9.5 million, or $(0.28) per diluted share
- ➤Adjusted EBITDA $0.1 million versus $15.9 million in third quarter 2025
- ➤Backlog $284.5 million, up 28% year over year
- ➤Fiscal 2026 outlook reaffirmed: $370-$410 million revenue and $15-$19 million Adjusted EBITDA
Expert Statements
Nick Randall, President and Chief Executive Officer of FreightCar America
“While our third quarter results reflect a challenging period for the business, they were consistent with the preliminary figures we reported in October.”
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.”
Nick Randall, President and Chief Executive Officer of FreightCar America
“Following quarter end, we completed our third aftermarket acquisition, further expanding our parts and components offering.”
Nick Randall, President and Chief Executive Officer of FreightCar America
“Looking ahead, some industry indicators are improving, although we have yet to see that translate into broader growth in railcar demand.”
Nick Randall, President and Chief Executive Officer of FreightCar America
“Our backlog provides visibility into planned production, and our focus remains on disciplined execution, cost control and converting orders into profitable deliveries.”
Nick Randall, President and Chief Executive Officer of FreightCar America
“We continue to integrate our acquisitions and grow our aftermarket business, while maintaining the manufacturing flexibility to respond to changes in customer demand.”
Mike Riordan, Chief Financial Officer of FreightCar America
“Our balance sheet remains solid, with no borrowings under our revolving credit facility.”
Mike Riordan, Chief Financial Officer of FreightCar America
“Our cost structure has improved, and our aftermarket business is contributing a growing share of our results.”
Mike Riordan, Chief Financial Officer of FreightCar America
“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.”
Mike Riordan, Chief Financial Officer of FreightCar America
“With our full-year outlook unchanged, our focus is on converting our backlog into profitable deliveries.”
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 * Revenues of $76.5 million, compared to $160.5 million in the third quarter of 2025, with railcar deliveries of 662 units compared to 1,304 units in the prior year period * Aftermarket revenues grew 65% year over year, reflecting continued organic growth in parts and components and the contribution from our recent acquisitions * Gross margin of 8.8% with gross profit of $6.7 million, compared to gross margin of 15.1% with gross profit of $24.2 million in the third quarter of 2025 * Recorded a $4.7 million non-cash gain related to the change in fair market value of the warrant liability, resulting in net income of $8 thousand, or $0.00 per diluted share, and adjusted net loss of $9.5 million, or $(0.28) per diluted share, compared to adjusted net income of $7.8 million, or $0.24 per diluted share, in the prior year period * Adjusted EBITDA of $0.1 million, representing a margin of 0.2%, compared to $15.9 million and a margin of 9.9% in the third quarter of 2025 * Ended the quarter with a backlog of 2,660 units valued at $284.5 million, up 28% from $222.0 million at September 30, 2025 * Completed the acquisition of Trinity Equipment Company following quarter end, expanding our aftermarket platform and marking our third transaction in less than a year “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.”
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