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]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2020 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. Empl ...

FreightCar America, Inc. (NASDAQ:RAIL) Q3 2020 Earnings Conference Call November 10, 2020 11:00 AM ET Company Participants Joseph Caminiti - Investor Relations Jim Meyer - President & Chief Executive Officer Chris Eppel - Chief Financial Officer Matt Tonn - Chief Commercial Officer Conference Call Participants Justin Long - Stephens Matt Elkott - Cowen Operator Greetings, and welcome to FreightCar America's Third Quarter 2020 Earnings Conference Call. At this time, all participants are in a listen-only mode ...

FreightCar America, Inc. (NASDAQ:RAIL) Q2 2020 Earnings Conference Call August 11, 2020 11:00 AM ET Company Participants Joe Caminiti - IR Jim Meyer - President and CEO Chris Eppel - CFO Matt Tonn - Chief Commercial Officer Conference Call Participants Matt Elkott - Cowen George Sellers - Stephens Operator Welcome to FreightCar America's Second Quarter 2020 Earnings Conference Call and Webcast [Operator Instructions]. Please note, this conference call is being recorded. An audio replay of the conference cal ...

FreightCar America, Inc. (NASDAQ:RAIL) Q1 2020 Earnings Conference Call May 11, 2020 11:00 AM ET Company Participants Josh Littman - Alpha IR Group James Meyer - President, CEO & Director Matthew Tonn - Chief Commercial Officer Christopher Eppel - VP, Finance, CFO & Treasurer Conference Call Participants Justin Long - Stephens Inc. Matthew Elkott - Cowen and Company Operator Welcome to FreightCar America's First Quarter 2020 Earnings Conference Call and Webcast. [Operator Instructions]. Please note, this co ...

FreightCar America, Inc. (NASDAQ:RAIL) Q4 2019 Earnings Conference Call February 27, 2020 11:00 AM ET CompanyParticipants Josh Littman - IR Jim Meyer - President & CEO Matthew Tonn - Chief Commercial Officer Chris Eppel - CFO Conference Call Participants Matt Elkott - Cowen & Company Justin Long - Stephens Operator Welcome to the FreightCar America's Fourth Quarter 2019 Earnings Conference Call and Webcast. At this time all participant lines are in a listen-only mode. For those of you participating on the c ...

FreightCar America, Inc. (NASDAQ:RAIL) Q2 2019 Earnings Conference Call August 1, 2019 11:00 AM ET Company Participants Michael Cieslak - Head of FP&A and IR James Meyer - President and CEO Chris Eppel - CFO Conference Call Participants Matthew Elkott - Cowen and Company Justin Long - Stephens Inc. Matthew Brooklier - Buckingham Research Operator Welcome to FreightCar America's Second Quarter 2019 Earnings Conference Call and webcast. At this time all participant lines are in a listen-only mode. For those o ...

FreightCar America, Inc. (NASDAQ:RAIL) Q1 2019 Earnings Conference Call May 2, 2019 11:00 AM ET Company Participants Michael Cieslak - Head of FP&A and IR James Meyer - President and CEO Ted Baun - CCO Chris Eppel - CFO Conference Call Participants Matthew Elkott - Cowen and Company Justin Long - Stephens Inc. Operator Welcome to FreightCar America's First Quarter 2019 Earnings Conference Call and Webcast. At this time all participant lines are in a listen-only mode. For those of you participating on the co ...

Financial Data and Key Metrics Changes - Consolidated revenues for Q4 2018 totaled $87.8 million, an increase from $79.2 million in Q4 2017 and $79 million in Q3 2018, attributed to a larger number of new railcars delivered [29] - The gross margin was negative 4.6%, slightly improved from negative 4.9% in the previous quarter [30] - The consolidated operating loss for Q4 totaled $11.3 million, compared to a loss of $13.4 million in the same period last year and $8.7 million in Q3 2018 [31] - SG&A expenses for the quarter were $7.2 million, higher sequentially due to the normalization of expenses after the elimination of incentive compensation accrual in Q3 2018 [32] - Cash position at year-end was $58 million, with no outstanding debt [33] Business Line Data and Key Metrics Changes - Railcar deliveries totaled 1,047 in Q4 2018, up from 977 in the same quarter last year, with 827 new cars and 220 rebuilds [22] - The company received 835 new orders for railcars in Q4 2018, a significant increase from 52 orders in Q4 2017 [23] - The order backlog as of December 31, 2018, consisted of 1,699 railcars valued at approximately $160 million, down from 1,911 railcars valued at $167 million at the end of Q3 2018 [24] Market Data and Key Metrics Changes - Industry-wide non-tank car orders increased to 13,942 cars for the quarter ending December 31, with the company receiving a reasonable share of orders in its strong product segments [25] - The company noted that 74% of the non-tank car order mix was concentrated in key car types where it is not fully competitive [26] - Rail traffic growth is expected to continue at modest levels, offset by Class I railroads' operating efficiency improvements [27] Company Strategy and Development Direction - The company is focused on a "Back to Basics" transformation strategy aimed at improving product offerings, cost structure, and manufacturing operations [7][10] - Plans for 2019 include completing the transformation work started in 2018, expanding the product portfolio, and achieving additional material cost savings of $2,000 to $3,000 per railcar [40] - The company aims to grow its leasing capability without becoming a competitor to its customers, focusing on incremental manufacturing business [20] Management's Comments on Operating Environment and Future Outlook - Management acknowledged disappointing financial performance but emphasized ongoing progress in business transformation [8] - The company expects delivery of 2,500 to 3,500 railcars in 2019, with capital spending anticipated between $4 million and $5 million [37] - Management expressed confidence in the company's direction and progress, despite acknowledging challenges in the turnaround process [48] Other Important Information - A valuation allowance against deferred tax assets of $18.2 million was recorded in Q4 2018 due to historical operating losses [36] - The company plans to reduce its operational footprint at the Shoals facility while maintaining full manufacturing capability [43][80] Q&A Session Summary Question: Can you help us understand what percentage of the market you can currently address with your product portfolio? - Management indicated that they will be able to address everything except tank cars and a few freight car design types, with significant improvements expected by year-end [52][55] Question: Are you seeing hesitancy from customers in placing orders in 2019? - Management confirmed that some customers are in a pause mode regarding decisions on railcars, but they expect inquiry levels to maintain an average pace [60] Question: How is the lease fleet positioned today and where do you see growth? - The current lease fleet consists of about 840 units, with plans to grow incrementally over the next several years [70] Question: What are your thoughts on the impact of precision railroading on the railcar equipment market? - Management noted that while precision railroading may have short-term uncertainties, it is likely beneficial for freight by rail in the long term [74] Question: Can you discuss the lumpiness in production and pricing environment for 2019? - Management acknowledged that there will be some lumpiness in deliveries based on car types, with a challenging pricing environment expected [86]