UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Quarterly period ended March 31, 2022 or TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission File Number: 000-51237 FREIGHTCAR AMERICA, INC. (Exact name of registrant as specified in its charter) Delaware 25-1837219 (State or other jurisdiction of incorporation or organization) (I.R.S. ...

Financial Data and Key Metrics Changes - Revenue for Q4 2021 was $75 million, up 23.8% year-over-year from $60.6 million in Q4 2020 and $58.3 million in Q3 2021 [17] - Gross margin for Q4 2021 was $6.6 million, significantly higher than $1.5 million in Q3 2021 and $5.5 million in Q4 2020, marking the fifth consecutive quarter of positive gross margin [18] - Operating income for Q4 2021 was $63,000, a recovery from operating losses of $4.2 million in Q3 2021 and $9.2 million in Q4 2020 [19] Business Line Data and Key Metrics Changes - The company delivered 604 rail cars in Q4 2021, compared to 477 in Q4 2020 and 505 in Q3 2021, indicating improved manufacturing capabilities [11][17] - Manufacturing operating income for Q4 2021 was $4.9 million, up from $0.2 million in Q3 2021 and a loss of $2.1 million in Q4 2020 [20] Market Data and Key Metrics Changes - Railcar orders booked in Q4 2021 were 1,032, a significant increase from 90 in Q4 2020, indicating strong demand recovery [31] - The rail industry is experiencing improved fundamentals, with railcar scrapping rates outpacing deliveries, leading to a strengthening demand cycle [29] Company Strategy and Development Direction - The company has completed the transition of manufacturing operations to Castaños, resulting in approximately $20 million in annual fixed cost savings [11] - Future plans include expanding the Castaños facility and entering the tank car market, with expectations to double production capacity to 4,000-5,000 units per year by 2023 [32][33] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in future growth, anticipating 2022 to be a year of strong performance despite inflationary challenges [15] - The demand environment is strengthening, with expectations of ongoing recovery in the railcar market supported by increased traffic and reduced storage [13] Other Important Information - The company achieved positive adjusted EBITDA of $1.2 million in Q4 2021 [23] - Cash and cash equivalents at the end of Q4 2021 were $26.2 million, slightly down from $27.5 million at the end of Q3 2021 [24] Q&A Session Summary Question: Inquiry levels improving year-over-year - Management confirmed that inquiry levels have improved from quarter-to-quarter, with increased order activity expected in Q1 2022 [38] Question: Revenue per rail car increase - The increase in revenue per rail car was attributed to product mix and efficiencies in the plant rather than a sudden change in pricing dynamics [40][41] Question: Cadence of deliveries for 2022 - Management indicated that while the trend is upward, specific quarter-by-quarter delivery guidance would be clearer in future calls [53] Question: Orders source and demand - Orders are coming from a mix of shippers, railroads, and lessors, with demand extending into future years [57] Question: Shortages in specific car types - Demand for boxcars, mill gondolas, and certain flat cars is high, indicating a shortage in supply [60] Question: Long-term demand from the automotive industry - Management acknowledged potential increased demand for automotive cars as the industry recovers from semiconductor shortages [64] Question: Utilization rates improvement - Management speculated that utilization rates could improve further, potentially reaching the high 80s by the end of the year [66]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 (Exact name of registrant as specified in its charter) Delaware 25-1837219 (State or other jurisdiction of incorporation or organization) (I.R.S. Employer Identification No.) 125 S. Wacker Drive, Suite 1500, Chicago, Illinois 60606 (Address of principal executive offices) (Zip Code) (800) 458-2235 FORM 10-K (Registrant's telephone number, including area code) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT ...

FreightCar America, Inc. (NASDAQ:RAIL) Q3 2021 Earnings Conference Call November 15, 2021 11:00 AM ET Company Participants Lisa Fortuna - Investor Relations Jim Meyer - President and Chief Executive Officer Terry Rogers - Chief Financial Officer Matt Tonn - Chief Commercial Officer Conference Call Participants Justin Long - Stephens Matt Elkott - Cowen Operator Greetings. Welcome to the FreightCar America’s Third Quarter 2021 Conference Call. [Operator Instructions] Please note this conference is being reco ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Quarterly period ended September 30, 2021 or TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission File Number: 000-51237 FREIGHTCAR AMERICA, INC. (Exact name of registrant as specified in its charter) Delaware 25-1837219 (State or other jurisdiction of incorporation or organization) (I. ...

PART I – FINANCIAL INFORMATION [Financial Statements](index=4&type=section&id=Item%201.%20Financial%20Statements) This section presents FreightCar America, Inc.'s unaudited condensed consolidated financial statements for Q2 and H1 2021, including balance sheets, statements of operations, comprehensive loss, stockholders' equity, and cash flows [Condensed Consolidated Balance Sheets](index=4&type=section&id=Condensed%20Consolidated%20Balance%20Sheets) Total assets decreased to **$170.1 million** by June 30, 2021, while total liabilities increased to **$179.5 million**, resulting in a **$9.4 million** stockholders' deficit, primarily due to warrant liability growth Condensed Consolidated Balance Sheet Highlights (in thousands) | Account | June 30, 2021 (in thousands) | December 31, 2020 (in thousands) | | :--- | :--- | :--- | | **Total Assets** | **$170,058** | **$182,742** | | Cash, cash equivalents and restricted cash | $20,730 | $54,047 | | Inventories, net | $48,783 | $38,831 | | **Total Liabilities** | **$179,496** | **$152,245** | | Total long-term debt (net) | $68,705 | $55,273 | | Warrant liability | $31,406 | $12,730 | | **Total Stockholders' (Deficit) Equity** | **($9,438)** | **$30,497** | [Condensed Consolidated Statements of Operations](index=5&type=section&id=Condensed%20Consolidated%20Statements%20of%20Operations) Q2 2021 revenues more than doubled to **$37.4 million**, achieving a **$3.6 million** gross profit and narrowing net loss to **$2.6 million**, while H1 2021 saw tripled revenues but a higher net loss of **$40.4 million** due to warrant liability changes Statement of Operations Highlights (in thousands, except per share data) | Metric | Q2 2021 (in thousands) | Q2 2020 (in thousands) | YTD 2021 (in thousands) | YTD 2020 (in thousands) | | :--- | :--- | :--- | :--- | :--- | | Revenues | $37,354 | $17,458 | $69,724 | $22,655 | | Gross Profit (Loss) | $3,638 | ($6,144) | $6,228 | ($14,947) | | Operating Loss | ($2,536) | ($12,948) | ($15,747) | ($30,041) | | Net Loss Attributable to FreightCar America | ($2,570) | ($12,791) | ($40,428) | ($29,738) | | Net Loss Per Share (basic & diluted) | ($0.13) | ($0.97) | ($2.01) | ($2.26) | [Condensed Consolidated Statements of Cash Flows](index=9&type=section&id=Condensed%20Consolidated%20Statements%20of%20Cash%20Flows) Net cash used in operating activities significantly increased to **$44.1 million** for H1 2021, driven by higher net loss and working capital changes, resulting in a **$33.3 million** net decrease in cash and cash equivalents Cash Flow Summary for Six Months Ended June 30 (in thousands) | Activity | 2021 (in thousands) | 2020 (in thousands) | | :--- | :--- | :--- | | Net cash used in operating activities | ($44,109) | ($20,783) | | Net cash used in investing activities | ($818) | ($6,925) | | Net cash provided by financing activities | $11,610 | $9,991 | | **Net decrease in cash and cash equivalents** | **($33,317)** | **($17,717)** | [Notes to Condensed Consolidated Financial Statements](index=11&type=section&id=Notes%20to%20Condensed%20Consolidated%20Financial%20Statements) Notes detail accounting policies, revenue recognition, debt financing, restructuring, the **$10 million** PPP loan forgiveness, and a revision of prior period financial statements due to inventory accounting errors - The company has consolidated all its production into its Castaños, Mexico facility as of March 2021, after closing its Shoals, Alabama facility in February 2021 and its Roanoke, Virginia facility in 2020[27](index=27&type=chunk)[28](index=28&type=chunk) Revenue by Source for Six Months Ended June 30 (in thousands) | Revenue Source | 2021 (in thousands) | 2020 (in thousands) | | :--- | :--- | :--- | | Railcar sales | $63,300 | $15,272 | | Parts sales | $4,496 | $4,510 | | Leasing revenues | $1,890 | $2,872 | | **Total revenues** | **$69,724** | **$22,655** | Total Debt Summary (in thousands) | Debt Instrument | June 30, 2021 (in thousands) | December 31, 2020 (in thousands) | | :--- | :--- | :--- | | M&T Credit Agreement | $10,518 | $10,105 | | SBA PPP Loan | $10,000 | $10,000 | | Siena Loan Agreement | $2,613 | $6,874 | | Term Loan Credit Agreement | $56,552 | $40,000 | | **Total debt, net of discount/costs** | **$68,705** | **$55,273** | - Subsequent to the quarter end, on July 14, 2021, the company received full forgiveness for its **$10.0 million** SBA Paycheck Protection Program (PPP) Loan, which will be recognized in Q3 2021[103](index=103&type=chunk) - The company revised its Q1 2021 financial statements to correct immaterial errors related to inventory transactions, which increased gross profit by **$0.8 million** and reduced net loss by **$0.5 million** for that period[115](index=115&type=chunk)[117](index=117&type=chunk) [Management's Discussion and Analysis of Financial Condition and Results of Operations](index=33&type=section&id=Item%202.%20Management's%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Management discusses improved financial performance, increased revenues, and gross profit driven by higher railcar deliveries and restructuring, alongside the operational shift to Mexico, growing order backlog, and financing activities [Overview](index=33&type=section&id=Overview) The company completed manufacturing consolidation in Castaños, Mexico by March 2021, leading to a significant increase in new orders to **1,433 units** and a backlog of **2,200 units** valued at **$224 million** - All production was moved to the Castaños, Mexico facility as of March 2021, following the closure of the Shoals, AL facility in February 2021[122](index=122&type=chunk)[123](index=123&type=chunk) Order and Backlog Summary | Metric | June 30, 2021 | December 31, 2020 | | :--- | :--- | :--- | | Total Backlog (units) | 2,200 | 1,389 | | Estimated Backlog Value | $224 million | $146 million | - New orders for the first six months of 2021 were **1,433 units** (800 new, 633 rebuilt), compared to **300 rebuilt units** in the same period of 2020, indicating market improvement[124](index=124&type=chunk) [Results of Operations](index=35&type=section&id=Results%20of%20Operations) H1 2021 results improved significantly, with Q2 revenues more than doubling to **$37.4 million** and achieving a **$3.6 million** gross profit, while H1 revenues tripled to **$69.7 million**, though net loss increased due to non-cash warrant liability charges Q2 2021 vs Q2 2020 Performance (in millions) | Metric | Q2 2021 (in millions) | Q2 2020 (in millions) | Change (in millions) | | :--- | :--- | :--- | :--- | | Revenues | $37.4 | $17.5 | +$19.9 | | Gross Profit (Loss) | $3.6 | ($6.1) | +$9.7 | | Operating Loss | ($2.5) | ($12.9) | +$10.4 | | Net Loss | ($2.6) | ($12.8) | +$10.2 | | Railcar Deliveries (units) | 313 | 100 | +213 | YTD 2021 vs YTD 2020 Performance (in millions) | Metric | YTD 2021 (in millions) | YTD 2020 (in millions) | Change (in millions) | | :--- | :--- | :--- | :--- | | Revenues | $69.7 | $22.7 | +$47.0 | | Gross Profit (Loss) | $6.2 | ($14.9) | +$21.1 | | Operating Loss | ($15.7) | ($30.0) | +$14.3 | | Net Loss | ($40.4) | ($29.7) | -$10.7 | | Railcar Deliveries (units) | 622 | 111 | +511 | - Restructuring and impairment charges for the six months ended June 30, 2021 were **$6.5 million**, primarily related to relocating equipment from the closed Shoals facility to Castaños[138](index=138&type=chunk)[139](index=139&type=chunk) [Liquidity and Capital Resources](index=39&type=section&id=Liquidity%20and%20Capital%20Resources) Primary liquidity sources include cash and credit facilities, with the Term Loan increasing by **$16.0 million** and the **$10.0 million** PPP loan forgiven, while net cash used in operating activities was **$44.1 million** for H1 2021 - The company's **$10.0 million** PPP Loan was fully forgiven on July 14, 2021, subsequent to the reporting period[148](index=148&type=chunk) - On May 14, 2021, the Term Loan Credit Agreement was amended to increase the principal amount by **$16.0 million** to a total of **$56.0 million**[162](index=162&type=chunk) - Subsequent to quarter end, on July 30, 2021, the Siena Loan Agreement was amended, increasing the maximum revolving facility amount from **$20.0 million** to **$25.0 million**[155](index=155&type=chunk)[156](index=156&type=chunk) Cash Flow Summary for Six Months Ended June 30 (in millions) | Activity | 2021 (in millions) | 2020 (in millions) | | :--- | :--- | :--- | | Net cash used in operating activities | ($44.1) | ($20.8) | | Net cash used in investing activities | ($0.8) | ($6.9) | | Net cash provided by financing activities | $11.6 | $10.0 | - Capital expenditures for 2021 are anticipated to be in the range of **$2 million to $3 million**, primarily for the Mexico facility[190](index=190&type=chunk) [Controls and Procedures](index=49&type=section&id=Item%204.%20Controls%20and%20Procedures) Management concluded the company's disclosure controls and procedures were effective as of June 30, 2021, with no material changes to internal control over financial reporting during Q2 - The Chief Executive Officer and Principal Financial Officer concluded that as of the evaluation date, the company's disclosure controls and procedures were effective[192](index=192&type=chunk) - No changes in internal control over financial reporting occurred during the last fiscal quarter that materially affected, or are reasonably likely to materially affect, internal controls[193](index=193&type=chunk) PART II – OTHER INFORMATION [Legal Proceedings](index=50&type=section&id=Item%201.%20Legal%20Proceedings) Information regarding legal proceedings is provided in Note 12 to the condensed consolidated financial statements - The company refers to Note 12 – Contingencies for information on legal proceedings[196](index=196&type=chunk) [Unregistered Sales of Equity Securities and Use of Proceeds](index=50&type=section&id=Item%202.%20Unregistered%20Sales%20of%20Equity%20Securities%20and%20Use%20of%20Proceeds) The company reported no unregistered sales of equity securities during the period - None[197](index=197&type=chunk) [Defaults Upon Senior Securities](index=50&type=section&id=Item%203.%20Defaults%20Upon%20Senior%20Securities) The company reported no defaults upon senior securities - None[198](index=198&type=chunk) [Mine Safety Disclosures](index=50&type=section&id=Item%204.%20Mine%20Safety%20Disclosures) This item is not applicable to the company - Not applicable[199](index=199&type=chunk) [Other Information](index=50&type=section&id=Item%205.%20Other%20Information) The company reported no other information - None[200](index=200&type=chunk) [Exhibits](index=50&type=section&id=Item%206.%20Exhibits) This section lists the exhibits filed with the Form 10-Q, including an amendment to the Term Loan Credit Agreement, officer certifications required by the Sarbanes-Oxley Act, and Inline XBRL documents - Exhibits filed include Amendment No. 2 to the Term Loan Credit Agreement, CEO and CFO certifications (Sections 302 and 906), and various XBRL files[203](index=203&type=chunk) [Signatures](index=51&type=section&id=Signatures)

FreightCar America, Inc. (NASDAQ:RAIL) Q2 2021 Earnings Conference Call August 16, 2021 11:00 AM ET Company Participants Lisa Fortuna - IR James Meyer - President and CEO Terence Rogers - CFO Matthew Tonn - Chief Commercial Officer Conference Call Participants Justin Long - Stephen Inc Operator Greetings. Welcome to FreightCar America's Second Quarter 2021 Conference Call. At this time, all participants are in a listen-only mode. A question-and-answer session will follow the formal presentation. [Operator I ...

FreightCar America, Inc. (NASDAQ:RAIL) Q1 2021 Earnings Conference Call May 17, 2021 11:00 AM ET Company Participants Lisa Fortuna - IR James Meyer - President and CEO Terence Rogers - CFO Matthew Tonn - Chief Commercial Officer Conference Call Participants Justin Long - Stephens Matthew Elkott - Cowen Bascome Majors - Susquehanna Financial Group Operator Greetings, and welcome to FreightCar America's First Quarter 2021 Conference Call. At this time, all participants are in a listen-only mode. A question-an ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Quarterly period ended March 31, 2021 or TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission File Number: 000-51237 FREIGHTCAR AMERICA, INC. (Exact name of registrant as specified in its charter) (State or other jurisdiction of incorporation or organization) (I.R.S. Employer Identifica ...

Financial Data and Key Metrics Changes - Consolidated revenues for Q4 2020 were $60.6 million, up 35% from $44.9 million in Q4 2019 and significantly higher than $25.2 million in Q3 2020 [23] - The company delivered 477 railcars in Q4 2020, compared to 163 in Q3 2020 and 439 in Q4 2019 [23] - Gross profit improved to $5.5 million in Q4 2020, a significant recovery from a loss of $8.1 million in Q4 2019, marking the first positive gross profit since June 2019 [25] - SG&A expenses for Q4 2020 totaled $8.7 million, up from $7.59 million in Q4 2019, attributed to retention payments and bonuses [26] - The consolidated operating loss for Q4 2020 was $9.2 million, slightly worse than a loss of $9 million in Q4 2019, impacted by $19 million in impairment charges [27][28] - Adjusted EBITDA for Q4 2020 was a positive $1.7 million, while EBITDA loss was $11.6 million [33] Business Line Data and Key Metrics Changes - The company transitioned from the Shoals facility to the new Castaños facility, which began production in July 2020 and started shipping in November 2020 [11][12] - The Castaños facility is designed for flexibility and efficiency, with a capacity to produce approximately 2,000 railcars per year [15][16] - The company has removed over $25 million in fixed costs compared to 2019 and reduced breakeven production levels by two-thirds [13] Market Data and Key Metrics Changes - The railcar industry is experiencing the lowest demand cycle since 2009, but there are signs of recovery with increased rail traffic and reduced storage numbers [38][40] - Order activity for Q4 2020 was 90 railcars, down from 385 in Q4 2019, but there is optimism about new inquiries and customer sentiment improving [39][41] Company Strategy and Development Direction - The company aims to become the most cost-effective and highest quality producer in the railcar industry, focusing on growth after completing its transformation [14][48] - Plans include constructing an in-house fabrication shop to enhance capabilities and efficiencies [17] - The company is positioned to be selective in the business it pursues due to its smaller footprint and improved cost structure [18][42] Management's Comments on Operating Environment and Future Outlook - Management acknowledges the challenges posed by rising steel prices and an aggressive pricing environment but remains optimistic about future profitability [18][57] - The company expects to deliver between 1,400 and 1,600 railcars in 2021, which is double the deliveries in 2020 but still below historical averages [20][43] - Management is encouraged by customer feedback and the positive morale at the new facility [19][46] Other Important Information - The company completed its exit from the Shoals facility without significant cost overruns and returned the facility to its owner as planned [9][10] - The transition to the Castaños facility has exceeded internal expectations in terms of efficiency and production capabilities [60][61] Q&A Session Summary Question: Can you help bridge the difference in gross margins from Q4 2019 to Q4 2020? - Management attributed the improvement to a well-priced order and a more efficient cost structure [56] Question: What are the expectations for gross margins going forward? - Management refrained from providing specific guidance but expressed confidence in a more attractive cost structure despite steel price pressures [57] Question: Have any orders been received in 2021? - Management did not disclose specific orders but noted a broader range of inquiries compared to the previous year [58] Question: Why hasn't order activity picked up more significantly? - Management indicated that order processes take time and that improved customer sentiment is expected to lead to increased activity [66][70] Question: Is there a change in the target customer profile? - Management emphasized a focus on being a pure-play manufacturer and maintaining efficiency in model changeovers to meet customer needs [76][78]