$RAIL
FreightCar America, Inc.

2022 Q3 Form 10-Q Financial Statement

#000095017022015538 Filed on August 08, 2022

View on sec.gov

Income Statement

Concept 2022 Q3 2022 Q2 2021 Q4
Revenue $85.74M $56.79M $75.02M
YoY Change 47.05% 52.02% 23.79%
Cost Of Revenue $81.19M $50.20M $68.41M
YoY Change 43.02% 41.97% 24.16%
Gross Profit $4.554M $6.589M $6.607M
YoY Change 196.1% 229.94% 20.13%
Gross Profit Margin 5.31% 11.6% 8.81%
Selling, General & Admin $7.112M $4.053M $6.386M
YoY Change 24.75% -35.61% -26.6%
% of Gross Profit 156.17% 61.51% 96.66%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $1.050M $1.036M $1.000M
YoY Change -5.23% 4.02% -16.67%
% of Gross Profit 23.06% 15.72% 15.14%
Operating Expenses $7.112M $4.053M $6.386M
YoY Change 24.75% -35.61% -26.6%
Operating Profit -$10.66M $2.536M $221.0K
YoY Change 156.14% -160.71% -106.91%
Interest Expense -$7.361M $12.99M $34.00K
YoY Change 90.95% -153.26% -100.65%
% of Operating Profit 512.18% 15.38%
Other Income/Expense, Net $190.0K $661.0K $327.0K
YoY Change 31.03% 187.39% 227.0%
Pretax Income -$17.83M $16.19M $417.0K
YoY Change -890.51% -536.63% -102.9%
Income Tax -$28.00K $1.647M -$748.0K
% Of Pretax Income 10.18% -179.38%
Net Earnings -$17.81M $14.54M $1.165M
YoY Change -2535.84% -445.26% -108.09%
Net Earnings / Revenue -20.77% 25.6% 1.55%
Basic Earnings Per Share -$0.69 $0.58
Diluted Earnings Per Share -$0.69 $0.58 $52.04K
COMMON SHARES
Basic Shares Outstanding 16.70M 24.50M 15.95M
Diluted Shares Outstanding 25.72M 24.50M

Balance Sheet

Concept 2022 Q3 2022 Q2 2021 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $18.37M $21.53M $26.24M
YoY Change -33.16% 3.86% -51.41%
Cash & Equivalents $18.37M $21.53M $26.24M
Short-Term Investments
Other Short-Term Assets $12.11M $16.31M $13.77M
YoY Change -17.35% 54.63% -3.05%
Inventory $84.22M $75.85M $56.01M
Prepaid Expenses $8.094M $11.19M $5.087M
Receivables $12.17M $23.49M $9.571M
Other Receivables $5.047M $13.31M $31.14M
Total Short-Term Assets $131.9M $150.5M $136.7M
YoY Change 5.88% 38.57% 13.02%
LONG-TERM ASSETS
Property, Plant & Equipment $21.14M $19.28M $18.24M
YoY Change 11.68% -2.56% -7.16%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $4.571M $6.705M $8.873M
YoY Change 45.99% 165.12% 192.16%
Total Long-Term Assets $61.13M $61.87M $63.94M
YoY Change 2.72% 2.75% 3.52%
TOTAL ASSETS
Total Short-Term Assets $131.9M $150.5M $136.7M
Total Long-Term Assets $61.13M $61.87M $63.94M
Total Assets $193.1M $212.4M $200.7M
YoY Change 4.86% 25.79% 9.81%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $44.43M $46.77M $41.19M
YoY Change 56.8% 35.12% 130.86%
Accrued Expenses $8.889M $9.565M $8.963M
YoY Change -1.62% 9.13% -59.26%
Deferred Revenue $18.71M $3.300M
YoY Change -24.16%
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $0.00 $0.00 $0.00
YoY Change -100.0% -100.0% -100.0%
Total Short-Term Liabilities $64.29M $86.12M $69.32M
YoY Change 2.54% 20.95% -2.57%
LONG-TERM LIABILITIES
Long-Term Debt $91.60M $81.96M $79.48M
YoY Change 29.52% 70.09% 111.01%
Other Long-Term Liabilities $4.370M $3.934M $3.134M
YoY Change 14.19% -8.13% 20.54%
Total Long-Term Liabilities $95.97M $85.89M $82.62M
YoY Change 28.73% 63.7% 105.17%
TOTAL LIABILITIES
Total Short-Term Liabilities $64.29M $86.12M $69.32M
Total Long-Term Liabilities $95.97M $85.89M $82.62M
Total Liabilities $211.9M $222.5M $202.3M
YoY Change 9.21% 22.82% 32.89%
SHAREHOLDERS EQUITY
Retained Earnings -$109.2M -$91.37M -$80.07M
YoY Change 34.41% 11.48% 107.32%
Common Stock $201.0K $198.0K $190.0K
YoY Change 26.42% 23.75% 19.5%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares $0.00
Shareholders Equity -$18.85M -$10.15M -$1.656M
YoY Change
Total Liabilities & Shareholders Equity $193.1M $212.4M $200.7M
YoY Change 4.86% 25.79% 9.81%

Cashflow Statement

Concept 2022 Q3 2022 Q2 2021 Q4
OPERATING ACTIVITIES
Net Income -$17.81M $14.54M $1.165M
YoY Change -2535.84% -445.26% -108.09%
Depreciation, Depletion And Amortization $1.050M $1.036M $1.000M
YoY Change -5.23% 4.02% -16.67%
Cash From Operating Activities -$11.19M -$10.04M $1.561M
YoY Change -12.92% -53.96% -107.84%
INVESTING ACTIVITIES
Capital Expenditures -$572.0K -$1.848M -$307.0K
YoY Change 4.0% 98.07% -79.53%
Acquisitions
YoY Change
Other Investing Activities $0.00 $0.00 $0.00
YoY Change -100.0%
Cash From Investing Activities -$572.0K -$1.848M -$307.0K
YoY Change 4.0% 199.03% -80.81%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 8.601M -7.591M -2.500M
YoY Change -57.33% -165.38% -105.84%
NET CHANGE
Cash From Operating Activities -11.19M -10.04M 1.561M
Cash From Investing Activities -572.0K -1.848M -307.0K
Cash From Financing Activities 8.601M -7.591M -2.500M
Net Change In Cash -3.160M -19.48M -1.246M
YoY Change -146.77% 80.09% -105.85%
FREE CASH FLOW
Cash From Operating Activities -$11.19M -$10.04M $1.561M
Capital Expenditures -$572.0K -$1.848M -$307.0K
Free Cash Flow -$10.62M -$8.193M $1.868M
YoY Change -13.68% -60.75% -110.15%

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WeightedAverageNumberOfSharesOutstandingBasic
24499784
CY2021Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
20160410
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
23994327
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
20084199
CY2022Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
24499784
CY2021Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
20160410
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
23994327
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
20084199
CY2022Q2 us-gaap Income Loss From Continuing Operations Including Portion Attributable To Noncontrolling Interest
IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest
14539000
CY2021Q2 us-gaap Income Loss From Continuing Operations Including Portion Attributable To Noncontrolling Interest
IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest
-4211000
us-gaap Income Loss From Continuing Operations Including Portion Attributable To Noncontrolling Interest
IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest
-11308000
us-gaap Income Loss From Continuing Operations Including Portion Attributable To Noncontrolling Interest
IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest
-43343000
CY2022Q2 rail Pension And Postretirement Liability Activity
PensionAndPostretirementLiabilityActivity
83000
CY2021Q2 rail Pension And Postretirement Liability Activity
PensionAndPostretirementLiabilityActivity
156000
rail Pension And Postretirement Liability Activity
PensionAndPostretirementLiabilityActivity
167000
us-gaap Interest Paid Net
InterestPaidNet
3990000
CY2022Q2 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
14622000
rail Pension And Postretirement Liability Activity
PensionAndPostretirementLiabilityActivity
312000
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
-916000
rail Increase Decrease In Value Added Tax Receivable
IncreaseDecreaseInValueAddedTaxReceivable
-16940000
CY2021Q2 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
-4055000
us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
-11141000
us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
-43031000
CY2021Q1 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
-8460000
CY2021Q2 us-gaap Income Loss From Continuing Operations Including Portion Attributable To Noncontrolling Interest
IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest
-4211000
CY2021Q2 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
156000
CY2021Q2 rail Adjustments To Additional Paid In Capital Stock Issued During Period Shares Restricted Stock Award Forfeited
AdjustmentsToAdditionalPaidInCapitalStockIssuedDuringPeriodSharesRestrictedStockAwardForfeited
-1000
CY2021Q2 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
163000
CY2021Q2 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
-12353000
CY2022Q1 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
-26028000
CY2022Q2 us-gaap Income Loss From Continuing Operations Including Portion Attributable To Noncontrolling Interest
IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest
14539000
CY2022Q2 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
83000
CY2022Q2 rail Adjustments To Additional Paid In Capital Stock Issued During Period Shares Restricted Stock Award Forfeited
AdjustmentsToAdditionalPaidInCapitalStockIssuedDuringPeriodSharesRestrictedStockAwardForfeited
-7000
CY2022Q2 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
262000
CY2022Q2 rail Equity Fees
EquityFees
1000000
CY2022Q2 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
-10151000
CY2020Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
30497000
us-gaap Income Loss From Continuing Operations Including Portion Attributable To Noncontrolling Interest
IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest
-43343000
us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
312000
us-gaap Adjustments Related To Tax Withholding For Share Based Compensation
AdjustmentsRelatedToTaxWithholdingForShareBasedCompensation
12000
rail Adjustments To Additional Paid In Capital Stock Issued During Period Shares Restricted Stock Award Forfeited
AdjustmentsToAdditionalPaidInCapitalStockIssuedDuringPeriodSharesRestrictedStockAwardForfeited
-1000
us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
194000
CY2021Q2 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
-12353000
CY2021Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
-1656000
us-gaap Income Loss From Continuing Operations Including Portion Attributable To Noncontrolling Interest
IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest
-11308000
us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
167000
us-gaap Adjustments Related To Tax Withholding For Share Based Compensation
AdjustmentsRelatedToTaxWithholdingForShareBasedCompensation
13000
rail Adjustments To Additional Paid In Capital Stock Issued During Period Shares Restricted Stock Award Forfeited
AdjustmentsToAdditionalPaidInCapitalStockIssuedDuringPeriodSharesRestrictedStockAwardForfeited
-7000
us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
666000
rail Equity Fees
EquityFees
2000000
CY2022Q2 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
-10151000
us-gaap Income Loss From Continuing Operations Including Portion Attributable To Noncontrolling Interest
IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest
-11308000
us-gaap Income Loss From Continuing Operations Including Portion Attributable To Noncontrolling Interest
IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest
-43343000
us-gaap Restructuring Costs And Asset Impairment Charges
RestructuringCostsAndAssetImpairmentCharges
0
us-gaap Restructuring Costs And Asset Impairment Charges
RestructuringCostsAndAssetImpairmentCharges
6530000
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
2060000
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
2196000
us-gaap Operating Lease Right Of Use Asset Amortization Expense
OperatingLeaseRightOfUseAssetAmortizationExpense
636000
us-gaap Operating Lease Right Of Use Asset Amortization Expense
OperatingLeaseRightOfUseAssetAmortizationExpense
887000
rail Recognition Of Deferred Income From State And Local Incentives
RecognitionOfDeferredIncomeFromStateAndLocalIncentives
2507000
rail Recognition Of Deferred Income From State And Local Incentives
RecognitionOfDeferredIncomeFromStateAndLocalIncentives
1110000
us-gaap Fair Value Adjustment Of Warrants
FairValueAdjustmentOfWarrants
1984000
us-gaap Fair Value Adjustment Of Warrants
FairValueAdjustmentOfWarrants
18676000
us-gaap Share Based Compensation
ShareBasedCompensation
1490000
us-gaap Share Based Compensation
ShareBasedCompensation
2961000
rail Amortization Of Financing Costs And Discounts Including Paid In Kind Interest
AmortizationOfFinancingCostsAndDiscountsIncludingPaidInKindInterest
7472000
rail Amortization Of Financing Costs And Discounts Including Paid In Kind Interest
AmortizationOfFinancingCostsAndDiscountsIncludingPaidInKindInterest
1981000
us-gaap Other Noncash Income Expense
OtherNoncashIncomeExpense
96000
CY2022Q2 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
3927000
rail Increase Decrease In Value Added Tax Receivable
IncreaseDecreaseInValueAddedTaxReceivable
16814000
us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
16926000
us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
6814000
us-gaap Increase Decrease In Other Current Assets
IncreaseDecreaseInOtherCurrentAssets
7281000
us-gaap Increase Decrease In Other Current Assets
IncreaseDecreaseInOtherCurrentAssets
6263000
us-gaap Increase Decrease In Due From Related Parties Current
IncreaseDecreaseInDueFromRelatedPartiesCurrent
-143000
us-gaap Increase Decrease In Due From Related Parties Current
IncreaseDecreaseInDueFromRelatedPartiesCurrent
-2769000
us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
3525000
us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
10633000
rail Increase Decrease In Accrued Payroll And Employee Benefits
IncreaseDecreaseInAccruedPayrollAndEmployeeBenefits
-1028000
rail Increase Decrease In Accrued Payroll And Employee Benefits
IncreaseDecreaseInAccruedPayrollAndEmployeeBenefits
-802000
us-gaap Increase Decrease In Income Taxes Receivable
IncreaseDecreaseInIncomeTaxesReceivable
-1036000
us-gaap Increase Decrease In Income Taxes Receivable
IncreaseDecreaseInIncomeTaxesReceivable
360000
rail Increase Decrease In Accrued Warranty
IncreaseDecreaseInAccruedWarranty
2255000
rail Increase Decrease In Accrued Warranty
IncreaseDecreaseInAccruedWarranty
-2366000
rail Operating Lease Increase Decrease In Lease Liability
OperatingLeaseIncreaseDecreaseInLeaseLiability
-954000
rail Operating Lease Increase Decrease In Lease Liability
OperatingLeaseIncreaseDecreaseInLeaseLiability
-1180000
rail Increase Decrease In Customer Deposit
IncreaseDecreaseInCustomerDeposit
15406000
us-gaap Increase Decrease In Other Operating Liabilities
IncreaseDecreaseInOtherOperatingLiabilities
-1527000
us-gaap Increase Decrease In Other Operating Liabilities
IncreaseDecreaseInOtherOperatingLiabilities
-6749000
us-gaap Increase Decrease In Pension And Postretirement Obligations
IncreaseDecreaseInPensionAndPostretirementObligations
105000
us-gaap Increase Decrease In Pension And Postretirement Obligations
IncreaseDecreaseInPensionAndPostretirementObligations
-415000
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-2396000
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-44109000
us-gaap Proceeds From Sale Of Restricted Investments
ProceedsFromSaleOfRestrictedInvestments
182000
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
2808000
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
1433000
rail Proceeds From Sale Of Property Plant And Equipment Assets Held For Sale And Railcars Available For Lease
ProceedsFromSaleOfPropertyPlantAndEquipmentAssetsHeldForSaleAndRailcarsAvailableForLease
433000
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-2808000
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-818000
us-gaap Proceeds From Issuance Of Long Term Debt
ProceedsFromIssuanceOfLongTermDebt
16000000
us-gaap Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
480000
rail Proceeds From Long Term Lines Of Credit Less Long Term Debt
ProceedsFromLongTermLinesOfCreditLessLongTermDebt
49282000
rail Proceeds From Long Term Lines Of Credit Less Long Term Debt
ProceedsFromLongTermLinesOfCreditLessLongTermDebt
7220000
us-gaap Repayments Of Long Term Lines Of Credit
RepaymentsOfLongTermLinesOfCredit
48770000
us-gaap Repayments Of Long Term Lines Of Credit
RepaymentsOfLongTermLinesOfCredit
11068000
us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
13000
us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
7000
rail Payments For Cash Settled Stock Appreciation Rights Exercised
PaymentsForCashSettledStockAppreciationRightsExercised
4000
rail Payments For Cash Settled Stock Appreciation Rights Exercised
PaymentsForCashSettledStockAppreciationRightsExercised
55000
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
495000
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
11610000
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-4709000
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-33317000
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
26240000
CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
54047000
CY2022Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
21531000
CY2021Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
20730000
us-gaap Revenues
Revenues
69724000
us-gaap Interest Paid Net
InterestPaidNet
2813000
us-gaap Proceeds From Income Tax Refunds
ProceedsFromIncomeTaxRefunds
5000
rail Change In Unpaid Construction In Process Non Cash Charges
ChangeInUnpaidConstructionInProcessNonCashCharges
-8000
rail Change In Unpaid Construction In Process Non Cash Charges
ChangeInUnpaidConstructionInProcessNonCashCharges
530000
us-gaap Notes Issued1
NotesIssued1
722000
us-gaap Notes Issued1
NotesIssued1
553000
us-gaap Debt Issuance Costs Incurred During Noncash Or Partial Noncash Transaction
DebtIssuanceCostsIncurredDuringNoncashOrPartialNoncashTransaction
8560000
rail Issuance Of Equity Fee
IssuanceOfEquityFee
2000000
us-gaap Nature Of Operations
NatureOfOperations
<p style="text-indent:0.0%;font-size:10.0pt;margin-top:0.0pt;line-height:1.15;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:bold;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;">Note 1 – Description of the Business</span></p><p style="text-indent:0.0%;font-size:10.0pt;margin-top:0.0pt;line-height:1.15;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="white-space:pre-wrap;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;"/> </p><p style="text-indent:0.0%;font-size:10.0pt;margin-top:0.0pt;line-height:1.15;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;">FreightCar America, Inc. (“FreightCar” or the "Company") operates primarily in North America through its direct and indirect subsidiaries, and manufactures a wide range of railroad freight cars, supplies railcar parts and leases freight cars. The Company designs and builds high-quality railcars, including coal cars, bulk commodity cars, covered hopper cars, intermodal and non-intermodal flat cars, mill gondola cars, coil steel cars and boxcars, and also specializes in the conversion of railcars for re-purposed use. The Company is headquartered in Chicago, Illinois and has facilities in the following locations: Johnstown, Pennsylvania; Shanghai, People’s Republic of China, and Castaños, Coahuila, Mexico (“Castaños”).</span></p><p style="text-indent:0.0%;font-size:10.0pt;margin-top:0.0pt;line-height:1.15;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="white-space:pre-wrap;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;"/> </p><p style="text-indent:0.0%;font-size:10.0pt;margin-top:0.0pt;line-height:1.15;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;">On September 10, 2020, the Company announced its plan to permanently close its manufacturing facility in Cherokee, Alabama (the “Shoals Facility”). The closure reduced costs and aligned the Company’s manufacturing capacity with the current railcar market. The Company ceased production at the Shoals Facility in February 2021 (See Note 14</span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:bold;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;">–</span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;">Restructuring and Impairment Charges).</span></p>
CY2022Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
55957000
CY2021Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
36539000
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
148376000
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
67834000
CY2022Q2 us-gaap Operating Lease Lease Income
OperatingLeaseLeaseIncome
829000
CY2021Q2 us-gaap Operating Lease Lease Income
OperatingLeaseLeaseIncome
815000
us-gaap Operating Lease Lease Income
OperatingLeaseLeaseIncome
1646000
us-gaap Operating Lease Lease Income
OperatingLeaseLeaseIncome
1890000
CY2022Q2 us-gaap Revenues
Revenues
56786000
CY2021Q2 us-gaap Revenues
Revenues
37354000
us-gaap Revenues
Revenues
150022000
CY2021Q2 us-gaap Restructuring Settlement And Impairment Provisions
RestructuringSettlementAndImpairmentProvisions
-120000
us-gaap Restructuring Settlement And Impairment Provisions
RestructuringSettlementAndImpairmentProvisions
6530000
us-gaap Weighted Average Number Of Shares Issued Basic
WeightedAverageNumberOfSharesIssuedBasic
14783459
CY2022Q2 us-gaap Weighted Average Number Of Shares Contingently Issuable
WeightedAverageNumberOfSharesContingentlyIssuable
8580348
CY2022Q2 us-gaap Contract With Customer Asset Net
ContractWithCustomerAssetNet
0
CY2021Q4 us-gaap Contract With Customer Asset Net
ContractWithCustomerAssetNet
0
CY2022Q2 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
19597000
CY2021Q4 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
4807000
CY2022Q2 us-gaap Revenue Remaining Performance Obligation
RevenueRemainingPerformanceObligation
40635000
us-gaap Number Of Operating Segments
NumberOfOperatingSegments
2
us-gaap Number Of Reportable Segments
NumberOfReportableSegments
1
CY2022Q2 us-gaap Revenues
Revenues
56786000
CY2022Q2 us-gaap Common Stock No Par Value
CommonStockNoParValue
0.01
CY2021Q4 us-gaap Common Stock No Par Value
CommonStockNoParValue
0.01
CY2021Q4 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
4957000
CY2022Q2 us-gaap Inventory Raw Materials
InventoryRawMaterials
57609000
CY2021Q4 us-gaap Inventory Raw Materials
InventoryRawMaterials
34885000
CY2022Q2 us-gaap Inventory Work In Process
InventoryWorkInProcess
13728000
CY2021Q4 us-gaap Inventory Work In Process
InventoryWorkInProcess
11306000
CY2022Q2 us-gaap Inventory Finished Goods
InventoryFinishedGoods
0
CY2021Q4 us-gaap Inventory Finished Goods
InventoryFinishedGoods
4696000
CY2022Q2 us-gaap Other Inventories Spare Parts
OtherInventoriesSpareParts
4508000
CY2021Q4 us-gaap Other Inventories Spare Parts
OtherInventoriesSpareParts
5125000
CY2022Q2 us-gaap Inventory Net
InventoryNet
75845000
CY2021Q4 us-gaap Inventory Net
InventoryNet
56012000
CY2022Q2 us-gaap Inventory Valuation Reserves
InventoryValuationReserves
1669000
CY2021Q4 us-gaap Inventory Valuation Reserves
InventoryValuationReserves
1621000
CY2022Q2 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.01
CY2020Q4 rail Class Of Warrant Or Right Percentage Of Oustanding Common Shares
ClassOfWarrantOrRightPercentageOfOustandingCommonShares
0.23
CY2022Q2 us-gaap Class Of Warrant Or Right Number Of Securities Called By Warrants Or Rights
ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights
6623724
CY2021Q4 us-gaap Class Of Warrant Or Right Number Of Securities Called By Warrants Or Rights
ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights
6098217
CY2022Q2 us-gaap Class Of Warrant Or Right Exercise Price Of Warrants Or Rights1
ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1
0.01
CY2020Q4 us-gaap Class Of Warrant Or Right Exercise Price Of Warrants Or Rights1
ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1
0.01
CY2021Q2 us-gaap Weighted Average Number Of Shares Issued Basic
WeightedAverageNumberOfSharesIssuedBasic
14863069
us-gaap Weighted Average Number Of Shares Issued Basic
WeightedAverageNumberOfSharesIssuedBasic
15799456
CY2021Q4 us-gaap Warrants And Rights Outstanding
WarrantsAndRightsOutstanding
32514000
us-gaap Fair Value Adjustment Of Warrants
FairValueAdjustmentOfWarrants
1984000
CY2022Q2 us-gaap Warrants And Rights Outstanding
WarrantsAndRightsOutstanding
34498000
CY2021Q4 rail Rent Under Forbearance Agreement
RentUnderForbearanceAgreement
715000
CY2022Q2 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
90454000
CY2021Q4 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
89221000
CY2022Q2 us-gaap Long Term Debt
LongTermDebt
81960000
CY2021Q4 us-gaap Long Term Debt
LongTermDebt
79484000
CY2022Q2 us-gaap Long Term Debt Current
LongTermDebtCurrent
0
CY2021Q4 us-gaap Long Term Debt Current
LongTermDebtCurrent
0
CY2022Q2 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
81960000
CY2021Q4 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
79484000
CY2022Q2 us-gaap Share Based Compensation
ShareBasedCompensation
-2754000
CY2021Q2 us-gaap Share Based Compensation
ShareBasedCompensation
300000
us-gaap Share Based Compensation
ShareBasedCompensation
1490000
us-gaap Share Based Compensation
ShareBasedCompensation
2961000
us-gaap Loss Contingency Disclosures
LossContingencyDisclosures
<p style="text-indent:0.0%;font-size:10.0pt;margin-top:0.0pt;line-height:1.15;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:bold;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;">Note 12 –</span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:bold;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;"> Contingencies and Legal Settlements</span><span style="color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:bold;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;"> </span></p><p style="text-indent:0.0%;font-size:10.0pt;margin-top:0.0pt;line-height:1.15;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="white-space:pre-wrap;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;"/> </p><p style="text-indent:0.0%;font-size:10.0pt;margin-top:0.0pt;line-height:1.15;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;">The Company is involved in various warranty and repair claims and, in certain cases, related pending and threatened legal proceedings with its customers in the normal course of business. In the opinion of management, the Company’s potential losses in excess of the accrued warranty and legal provisions, if any, are not expected to be material to the Company’s consolidated financial condition, results of operations or cash flows.</span></p><p style="text-indent:0.0%;font-size:10.0pt;margin-top:0.0pt;line-height:1.15;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="white-space:pre-wrap;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;"/> </p><p style="text-indent:0.0%;font-size:10.0pt;margin-top:0.0pt;line-height:1.15;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;">In addition to the foregoing, the Company is involved in certain other pending and threatened legal proceedings, including commercial disputes and workers’ compensation and employee matters arising out of the conduct of its business. The Company has reserved </span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;">$</span><span style="font-size:10.0pt;font-family:Times New Roman;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;">0.4</span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;"> million to cover probable and estimable liabilities with respect to these matters (see Note 16</span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:bold;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;">–</span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:Times New Roman;min-width:fit-content;">Subsequent Event).</span></p>
CY2022Q2 us-gaap Litigation Reserve Current
LitigationReserveCurrent
400000
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
23994327
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
20084199
CY2022Q2 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
1759997
CY2021Q2 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
1329429
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
1727421
CY2021Q2 us-gaap Weighted Average Number Of Shares Contingently Issuable
WeightedAverageNumberOfSharesContingentlyIssuable
5297341
us-gaap Weighted Average Number Of Shares Contingently Issuable
WeightedAverageNumberOfSharesContingentlyIssuable
8194871
us-gaap Weighted Average Number Of Shares Contingently Issuable
WeightedAverageNumberOfSharesContingentlyIssuable
5300740
CY2022Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
24499784
CY2021Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
20160410
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
23994327
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
20084199
CY2022Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
24499784
CY2021Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
20160410
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
1531864
CY2022Q2 rail Impairment And Gain Loss On Sale Of Property Plant Equipment
ImpairmentAndGainLossOnSaleOfPropertyPlantEquipment
0
rail Impairment And Gain Loss On Sale Of Property Plant Equipment
ImpairmentAndGainLossOnSaleOfPropertyPlantEquipment
1591000
CY2022Q2 us-gaap Severance Costs1
SeveranceCosts1
0
CY2021Q2 us-gaap Severance Costs1
SeveranceCosts1
-24000
us-gaap Severance Costs1
SeveranceCosts1
-5000
CY2022Q2 us-gaap Other Restructuring Costs
OtherRestructuringCosts
0
CY2021Q2 us-gaap Other Restructuring Costs
OtherRestructuringCosts
-96000
us-gaap Other Restructuring Costs
OtherRestructuringCosts
4944000
CY2022Q2 us-gaap Restructuring Settlement And Impairment Provisions
RestructuringSettlementAndImpairmentProvisions
0
CY2021Q2 us-gaap Restructuring Settlement And Impairment Provisions
RestructuringSettlementAndImpairmentProvisions
-120000
us-gaap Restructuring Settlement And Impairment Provisions
RestructuringSettlementAndImpairmentProvisions
6530000
CY2021Q4 us-gaap Restructuring Reserve
RestructuringReserve
163000
us-gaap Restructuring Charges
RestructuringCharges
0
rail Restructuring Reserve Non Cash Charges
RestructuringReserveNonCashCharges
0
us-gaap Payments For Restructuring
PaymentsForRestructuring
163000
CY2020Q4 us-gaap Restructuring Reserve
RestructuringReserve
1847000
us-gaap Restructuring Charges
RestructuringCharges
6437000
rail Restructuring Reserve Non Cash Charges
RestructuringReserveNonCashCharges
93000
us-gaap Payments For Restructuring
PaymentsForRestructuring
7926000
CY2021Q2 us-gaap Restructuring Reserve
RestructuringReserve
278000
CY2022Q2 us-gaap Due From Related Parties Current
DueFromRelatedPartiesCurrent
5121000
CY2022Q2 us-gaap Accounts Payable Related Parties Current
AccountsPayableRelatedPartiesCurrent
5454000
CY2021Q4 us-gaap Due From Related Parties Current
DueFromRelatedPartiesCurrent
8680000
CY2021Q4 us-gaap Accounts Payable Related Parties Current
AccountsPayableRelatedPartiesCurrent
8870000

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