FreightCar America, Inc. Reports First Quarter 2025 Results

Core Insights - FreightCar America reported a strong first quarter for 2025, highlighting a 26% increase in gross profit and a gross margin expansion of 780 basis points [1][4] - The company generated operating cash flow of $13 million and adjusted free cash flow of $12 million, marking a significant improvement compared to the previous year [1][7] - Strong order intake of 1,250 railcars valued at approximately $141 million supports the company's reaffirmed full-year guidance [4][5] Financial Performance - Revenues for the first quarter of 2025 were $96.3 million, a decrease of 40.2% from $161.1 million in the same period of 2024 [7] - Gross profit was $14.4 million with a gross margin of 14.9%, compared to $11.4 million and a gross margin of 7.1% in the first quarter of 2024 [7] - Net income was reported at $50.4 million, or $1.52 per share, with adjusted net income of $1.6 million, or $0.05 per share [7][22] Operational Highlights - The company ended the quarter with a backlog of 3,337 units valued at $318 million, indicating strong future revenue potential [7] - FreightCar America maintained a healthy inquiry pipeline and backlog, positioning itself for increased deliveries throughout the year [5][6] - The company reaffirmed its fiscal year 2025 outlook, projecting railcar deliveries between 4,500 and 4,900 units, with revenue expectations of $530 to $595 million [6] Cash Flow and Financial Position - The company generated operating cash flow of $12.8 million, a $38.1 million increase year-over-year from cash used in the first quarter of 2024 [7][16] - Ending cash and cash equivalents were over $50 million, reflecting a strong financial position [6][7] - Adjusted free cash flow was reported at $12.5 million, compared to $30.5 million used in the first quarter of 2024, indicating a $43 million improvement [7][31]