Aug. 6 at 2:42 PM
Noble Capital Markets Research Report: FreightCar America (
$RAIL) – Better Than Expected Second Quarter Financial Results
Second quarter financial results. FreightCar America generated adjusted net income of
$3.8 million or
$0.11 per share, compared to our estimate of
$2.0 million or
$0.06 per share. Second quarter revenue of
$118.6 million exceeded our estimate of
$100.6 million. Rail car deliveries were 939 units compared to 1,159 units during the prior year period and our estimate of 850. The year-over-year decline was attributed to a strategic shift in the product mix toward higher-margin rail cars. As a percentage of revenue, second quarter gross margin increased to 15.0% compared to 12.5% during the prior year period and our 12.7% estimate. Adjusted EBITDA amounted to
$10.0 million compared to our
$8.8 million estimate and represented an EBITDA margin of 8.4%.
Read more: https://www.channelchek.com/news-channel/freightcar-america-rail-better-than-expected-second-quarter-financial-results
