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 (800) 458-2235 For the Quarterly period ended March 31, 2023 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 organi ...

FreightCar America, Inc. (NASDAQ:RAIL) Q4 2022 Results Conference Call March 28, 2023 11:00 AM ET Company Participants Stephen Poe - Alpha IR Jim Meyer - President and CEO Mike Riordan - CFO Matt Tonn - Chief Commercial Officer Conference Call Participants Justin Long - Stephens Matt Elkott - TD Cowen Operator Greetings, and welcome to FreightCar America’s Fourth Quarter and Full Year 2022 Earnings Conference Call. At this time all participants are in a listen-only mode. A question-and-answer session will f ...

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, 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 - FreightCar America reported a 47% increase in consolidated revenues for Q3 2022, totaling $85.7 million compared to $58.3 million in Q3 2021 [29] - Deliveries increased by 55% year-over-year, with 783 railcars delivered in Q3 2022, up from 505 railcars in the same period last year [30] - Gross profit for Q3 2022 was $4.6 million, significantly up from $1.5 million in Q3 2021, resulting in a gross margin of 5.3% compared to 2.6% last year [30] - Adjusted EBITDA improved to $1.6 million in Q3 2022 from a loss of $3.5 million in Q3 2021, with a total of $7.2 million of adjusted EBITDA generated in the first nine months of 2022 [35] Business Line Data and Key Metrics Changes - Manufacturing operating income grew to $3.1 million in Q3 2022 from $163,000 in Q3 2021, indicating improved operational efficiency [30] - The company is on track to complete legacy lower-margin orders by year-end, which is expected to enhance the margin profile starting in Q4 2022 [11][28] Market Data and Key Metrics Changes - Inquiry activity and formal bids increased by double digits quarter-over-quarter, indicating strong demand for new railcars [22] - Total cars stored in long-term storage fell to just over 275,000, representing 17% of the North American fleet, a nearly 48% decrease since the peak in July 2020 [20] - Railcar scrapping has outpaced deliveries for nearly three years, supporting ongoing replacement demand [21] Company Strategy and Development Direction - The company is focused on scaling its manufacturing capabilities at its new facility in Castaños, Mexico, which is expected to yield significant efficiencies and production capacity increases [14][45] - FreightCar America aims to maintain a disciplined approach to pricing and order acceptance, aligning with profitability guidelines while navigating macroeconomic uncertainties [26] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the railcar market, citing positive industry fundamentals and sales inquiries, despite caution regarding macroeconomic uncertainties such as inflation and supply chain challenges [12][46] - The company anticipates revenue for the full year 2022 to be between $340 million and $360 million, representing a year-over-year increase of approximately 72% at the midpoint [16] Other Important Information - The company completed the construction of its new fabrication shop and expanded its wheel and axle shop, achieving AAR certification for in-house axle machining [14] - Capital expenditures for Q3 2022 were approximately $0.6 million, with expectations for total CapEx for the year to range between $7 million and $8 million [39] Q&A Session Summary Question: Inquiry and order activity for Q4 - Management indicated confidence in growing the backlog as inquiry and bid activity has increased, with a 33% year-over-year increase in backlog for the first nine months [55] Question: Cost structure and gross margins - Management expects sequential improvement in gross margins moving into Q4, aiming to return to the margin profile seen in the first two quarters of 2022 [62] Question: Lower-margin orders in Q4 - Management confirmed that lower-margin orders will represent a lower percentage of deliveries in Q4 compared to Q3 [67] Question: Freight costs and mitigation strategies - Management is focusing resources on cost reduction in freight, acknowledging that freight has become a significant component of the cost structure [72] Question: Industry demand and future deliveries - Management expects improved deliveries next year, with a long-term average replacement demand in the range of 40,000 to 45,000 railcars annually [76]

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, 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) 125 South Wacker Drive, Suite 1500 Chicago, Illinois 60606 (Address of principal execu ...

FreightCar America, Inc. (NASDAQ:RAIL) Q2 2022 Earnings Conference Call August 9, 2022 11:00 AM ET Company Participants Stephen Poe - Investor Relations Jim Meyer - President and CEO Mike Riordan - CFO Matt Tonn - Chief Commercial Officer Conference Call Participants Justin Long - Stephens Inc Matt Elkott - Cowen and Company Operator Greetings, and welcome to the FreightCar America Second Quarter Fiscal 2022 Conference Call. [Operator Instructions] As a reminder, this conference is being recorded. I would ...

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 June 30, 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 125 South Wacker Drive, Suite 1500 Chicago, Illinois 60606 (Address of ...

FreightCar America, Inc. (NASDAQ:RAIL) Q1 2022 Earnings Conference Call May 10, 2022 11:00 AM ET Company Participants Lisa Fortuna - Investor James Meyer - President, CEO & Director Michael Riordan - VP, Finance, CFO & Treasurer Matthew Tonn - Chief Commercial Officer Conference Call Participants George Sellers - Stephens Inc. Matthew Elkott - Cowen and Company Operator Greetings, and welcome to FreightCar America's First Quarter Fiscal 2022 Conference Call. [Operator Instructions]. I would now like to turn ...

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]