$RAIL
FreightCar America, Inc.

2024 Q3 Form 10-Q Financial Statement

#000095017024095480 Filed on August 12, 2024

View on sec.gov

Income Statement

Concept 2024 Q3 2024 Q2
Revenue $113.3M $147.4M
YoY Change 82.98% 66.39%
Cost Of Revenue $97.06M $129.0M
YoY Change 84.28% 70.52%
Gross Profit $16.20M $18.43M
YoY Change 75.57% 42.26%
Gross Profit Margin 14.3% 12.5%
Selling, General & Admin $7.538M $8.510M
YoY Change 0.36% 45.45%
% of Gross Profit 46.54% 46.17%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $1.442M $1.414M
YoY Change 31.09% 36.88%
% of Gross Profit 8.9% 7.67%
Operating Expenses $7.538M $8.510M
YoY Change 0.36% 45.45%
Operating Profit $8.658M $13.13M
YoY Change 517.99% 70.0%
Interest Expense -$111.6M -$1.735M
YoY Change -5173.5% -84.38%
% of Operating Profit -1289.18% -13.21%
Other Income/Expense, Net -$680.0K -$725.0K
YoY Change 198.25% 950.72%
Pretax Income -$103.6M $10.67M
YoY Change -3140.16% -158.24%
Income Tax $3.407M $2.497M
% Of Pretax Income 23.39%
Net Earnings -$107.0M $8.177M
YoY Change -3452.52% -143.29%
Net Earnings / Revenue -94.52% 5.55%
Basic Earnings Per Share -$3.57 $0.12
Diluted Earnings Per Share -$3.57 $0.11
COMMON SHARES
Basic Shares Outstanding 18.87M 18.71M
Diluted Shares Outstanding 31.35M 32.28M

Balance Sheet

Concept 2024 Q3 2024 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $44.83M $39.37M
YoY Change 191.1% 228.11%
Cash & Equivalents $44.83M $39.37M
Short-Term Investments
Other Short-Term Assets $11.67M $7.554M
YoY Change 57.64% -55.45%
Inventory $84.81M $64.48M
Prepaid Expenses $10.10M $5.915M
Receivables $24.32M $12.82M
Other Receivables $936.0K $1.010M
Total Short-Term Assets $168.1M $127.1M
YoY Change 6.6% -9.62%
LONG-TERM ASSETS
Property, Plant & Equipment $30.46M $30.49M
YoY Change 3.81% 14.52%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $1.036M $2.492M
YoY Change 60.87% 371.08%
Total Long-Term Assets $77.83M $80.11M
YoY Change 8.69% 18.5%
TOTAL ASSETS
Total Short-Term Assets $168.1M $127.1M
Total Long-Term Assets $77.83M $80.11M
Total Assets $245.9M $207.2M
YoY Change 7.26% -0.49%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $74.36M $45.10M
YoY Change 44.07% 7.96%
Accrued Expenses $8.940M $6.616M
YoY Change 11.75% 25.47%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $0.00 $0.00
YoY Change -100.0%
Total Short-Term Liabilities $104.8M $68.13M
YoY Change 22.69% -29.68%
LONG-TERM LIABILITIES
Long-Term Debt $45.48M $45.75M
YoY Change 46.42%
Other Long-Term Liabilities $1.660M $2.016M
YoY Change 195.37% 258.08%
Total Long-Term Liabilities $1.660M $2.016M
YoY Change -94.75% 258.08%
TOTAL LIABILITIES
Total Short-Term Liabilities $104.8M $68.13M
Total Long-Term Liabilities $1.660M $2.016M
Total Liabilities $318.4M $172.3M
YoY Change 67.33% -0.94%
SHAREHOLDERS EQUITY
Retained Earnings -$253.7M -$146.5M
YoY Change 81.42% 2.54%
Common Stock $220.0K $220.0K
YoY Change 4.76% 4.76%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$72.43M $34.92M
YoY Change
Total Liabilities & Shareholders Equity $245.9M $207.2M
YoY Change 7.26% -0.49%

Cashflow Statement

Concept 2024 Q3 2024 Q2
OPERATING ACTIVITIES
Net Income -$107.0M $8.177M
YoY Change -3452.52% -143.29%
Depreciation, Depletion And Amortization $1.442M $1.414M
YoY Change 31.09% 36.88%
Cash From Operating Activities $7.172M $57.20M
YoY Change -996.5% -420.04%
INVESTING ACTIVITIES
Capital Expenditures $1.462M $1.303M
YoY Change -63.45% -56.48%
Acquisitions
YoY Change
Other Investing Activities $0.00 $0.00
YoY Change -100.0%
Cash From Investing Activities -$1.462M -$1.303M
YoY Change -63.45% -124.3%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -250.0K -30.50M
YoY Change -103.05% 827.08%
NET CHANGE
Cash From Operating Activities 7.172M 57.20M
Cash From Investing Activities -1.462M -1.303M
Cash From Financing Activities -250.0K -30.50M
Net Change In Cash 5.460M 25.39M
YoY Change 60.59% -260.72%
FREE CASH FLOW
Cash From Operating Activities $7.172M $57.20M
Capital Expenditures $1.462M $1.303M
Free Cash Flow $5.710M $55.89M
YoY Change -218.96% -367.87%

Facts In Submission

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IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest
-3394000
us-gaap Income Loss From Continuing Operations Including Portion Attributable To Noncontrolling Interest
IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest
-23926000
CY2024Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.12
CY2023Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.73
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.41
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.93
CY2024Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.11
CY2023Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.73
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.41
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.93
CY2024Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
30641193
CY2023Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
28113825
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
30235876
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
27552297
CY2024Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
32277506
CY2023Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
28113825
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
30235876
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
27552297
CY2024Q2 us-gaap Income Loss From Continuing Operations Including Portion Attributable To Noncontrolling Interest
IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest
8177000
CY2023Q2 us-gaap Income Loss From Continuing Operations Including Portion Attributable To Noncontrolling Interest
IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest
-18889000
us-gaap Income Loss From Continuing Operations Including Portion Attributable To Noncontrolling Interest
IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest
-3394000
us-gaap Income Loss From Continuing Operations Including Portion Attributable To Noncontrolling Interest
IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest
-23926000
CY2024Q2 us-gaap Unrealized Loss On Foreign Currency Derivatives Before Tax
UnrealizedLossOnForeignCurrencyDerivativesBeforeTax
1474000
CY2023Q2 us-gaap Unrealized Loss On Foreign Currency Derivatives Before Tax
UnrealizedLossOnForeignCurrencyDerivativesBeforeTax
0
us-gaap Unrealized Loss On Foreign Currency Derivatives Before Tax
UnrealizedLossOnForeignCurrencyDerivativesBeforeTax
1267000
us-gaap Unrealized Loss On Foreign Currency Derivatives Before Tax
UnrealizedLossOnForeignCurrencyDerivativesBeforeTax
0
CY2024Q2 rail Pension And Postretirement Liability Activity
PensionAndPostretirementLiabilityActivity
35000
CY2023Q2 rail Pension And Postretirement Liability Activity
PensionAndPostretirementLiabilityActivity
36000
rail Pension And Postretirement Liability Activity
PensionAndPostretirementLiabilityActivity
70000
rail Pension And Postretirement Liability Activity
PensionAndPostretirementLiabilityActivity
77000
CY2024Q2 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
6738000
CY2023Q2 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
-18853000
us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
-4591000
us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
-23849000
CY2023Q1 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
-32514000
CY2023Q2 us-gaap Income Loss From Continuing Operations Including Portion Attributable To Noncontrolling Interest
IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest
-18889000
CY2023Q2 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
36000
CY2023Q2 us-gaap Proceeds From Issuance Of Preferred Stock And Preference Stock
ProceedsFromIssuanceOfPreferredStockAndPreferenceStock
-57000
CY2023Q2 rail Stock Appreciation Rights Classification Modification
StockAppreciationRightsClassificationModification
1738000
CY2023Q2 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
582000
CY2023Q2 rail Equity Fees
EquityFees
150000
CY2023Q2 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
-48954000
CY2024Q1 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
-56959000
CY2024Q2 us-gaap Income Loss From Continuing Operations Including Portion Attributable To Noncontrolling Interest
IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest
8177000
CY2024Q2 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
-1439000
CY2024Q2 us-gaap Accretion Expense
AccretionExpense
143000
CY2024Q2 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
769000
CY2024Q2 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
766000
CY2024Q2 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
-48829000
CY2022Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
-28584000
us-gaap Income Loss From Continuing Operations Including Portion Attributable To Noncontrolling Interest
IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest
-23926000
us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
77000
us-gaap Proceeds From Issuance Of Preferred Stock And Preference Stock
ProceedsFromIssuanceOfPreferredStockAndPreferenceStock
-57000
us-gaap Adjustments Related To Tax Withholding For Share Based Compensation
AdjustmentsRelatedToTaxWithholdingForShareBasedCompensation
106000
rail Stock Appreciation Rights Classification Modification
StockAppreciationRightsClassificationModification
1738000
rail Vesting Of Restricted Stock Units
VestingOfRestrictedStockUnits
145000
us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
1074000
rail Equity Fees
EquityFees
685000
CY2023Q2 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
-48954000
CY2023Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
-46206000
us-gaap Income Loss From Continuing Operations Including Portion Attributable To Noncontrolling Interest
IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest
-3394000
us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
-1197000
us-gaap Accretion Expense
AccretionExpense
287000
us-gaap Adjustments Related To Tax Withholding For Share Based Compensation
AdjustmentsRelatedToTaxWithholdingForShareBasedCompensation
40000
us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
769000
us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
1526000
CY2024Q2 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
-48829000
us-gaap Income Loss From Continuing Operations Including Portion Attributable To Noncontrolling Interest
IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest
-3394000
us-gaap Income Loss From Continuing Operations Including Portion Attributable To Noncontrolling Interest
IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest
-23926000
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
2810000
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
2105000
us-gaap Operating Lease Right Of Use Asset Amortization Expense
OperatingLeaseRightOfUseAssetAmortizationExpense
1436000
us-gaap Operating Lease Right Of Use Asset Amortization Expense
OperatingLeaseRightOfUseAssetAmortizationExpense
1307000
us-gaap Fair Value Adjustment Of Warrants
FairValueAdjustmentOfWarrants
15541000
us-gaap Fair Value Adjustment Of Warrants
FairValueAdjustmentOfWarrants
6142000
us-gaap Share Based Compensation
ShareBasedCompensation
1526000
us-gaap Share Based Compensation
ShareBasedCompensation
-191000
rail Amortization Of Financing Costs And Discounts Including Paid In Kind Interest
AmortizationOfFinancingCostsAndDiscountsIncludingPaidInKindInterest
2315000
rail Amortization Of Financing Costs And Discounts Including Paid In Kind Interest
AmortizationOfFinancingCostsAndDiscountsIncludingPaidInKindInterest
7593000
us-gaap Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
0
us-gaap Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
-14880000
us-gaap Other Noncash Income Expense
OtherNoncashIncomeExpense
480000
us-gaap Other Noncash Income Expense
OtherNoncashIncomeExpense
472000
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
6407000
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
11922000
us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
-63723000
us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
25110000
us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
-40066000
us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
-6050000
us-gaap Increase Decrease In Income Taxes Payable Net Of Income Taxes Receivable
IncreaseDecreaseInIncomeTaxesPayableNetOfIncomeTaxesReceivable
-4949000
us-gaap Increase Decrease In Income Taxes Payable Net Of Income Taxes Receivable
IncreaseDecreaseInIncomeTaxesPayableNetOfIncomeTaxesReceivable
-1456000
rail Operating Lease Increase Decrease In Lease Liability
OperatingLeaseIncreaseDecreaseInLeaseLiability
-1790000
rail Operating Lease Increase Decrease In Lease Liability
OperatingLeaseIncreaseDecreaseInLeaseLiability
-1991000
rail Increase Decrease In Customer Deposit
IncreaseDecreaseInCustomerDeposit
8709000
rail Increase Decrease In Customer Deposit
IncreaseDecreaseInCustomerDeposit
19644000
rail Other Assets And Liabilities
OtherAssetsAndLiabilities
-7099000
rail Other Assets And Liabilities
OtherAssetsAndLiabilities
-6129000
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
31875000
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-25576000
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
2269000
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
4954000
rail Proceeds From Sale Of Property Plant And Equipment Assets Held For Sale And Railcars Available For Lease
ProceedsFromSaleOfPropertyPlantAndEquipmentAssetsHeldForSaleAndRailcarsAvailableForLease
0
rail Proceeds From Sale Of Property Plant And Equipment Assets Held For Sale And Railcars Available For Lease
ProceedsFromSaleOfPropertyPlantAndEquipmentAssetsHeldForSaleAndRailcarsAvailableForLease
8356000
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-2269000
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
3402000
us-gaap Proceeds From Issuance Of Long Term Debt
ProceedsFromIssuanceOfLongTermDebt
0
us-gaap Proceeds From Issuance Of Long Term Debt
ProceedsFromIssuanceOfLongTermDebt
13339000
rail Proceeds From Long Term Lines Of Credit Less Long Term Debt
ProceedsFromLongTermLinesOfCreditLessLongTermDebt
26595000
rail Proceeds From Long Term Lines Of Credit Less Long Term Debt
ProceedsFromLongTermLinesOfCreditLessLongTermDebt
89223000
us-gaap Repayments Of Long Term Lines Of Credit
RepaymentsOfLongTermLinesOfCredit
56010000
us-gaap Repayments Of Long Term Lines Of Credit
RepaymentsOfLongTermLinesOfCredit
105882000
us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
40000
us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
106000
rail Payments For Cash Settled Stock Appreciation Rights Exercised
PaymentsForCashSettledStockAppreciationRightsExercised
0
rail Payments For Cash Settled Stock Appreciation Rights Exercised
PaymentsForCashSettledStockAppreciationRightsExercised
6000
us-gaap Finance Lease Principal Payments
FinanceLeasePrincipalPayments
1341000
us-gaap Finance Lease Principal Payments
FinanceLeasePrincipalPayments
307000
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-30796000
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-3739000
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-1190000
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-25913000
CY2023Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
40560000
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
37912000
CY2024Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
39370000
CY2023Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
11999000
us-gaap Interest Paid Net
InterestPaidNet
1930000
us-gaap Interest Paid Net
InterestPaidNet
3319000
us-gaap Proceeds From Income Tax Refunds
ProceedsFromIncomeTaxRefunds
4207000
us-gaap Proceeds From Income Tax Refunds
ProceedsFromIncomeTaxRefunds
1516000
rail Change In Unpaid Construction In Process Non Cash Charges
ChangeInUnpaidConstructionInProcessNonCashCharges
-210000
rail Change In Unpaid Construction In Process Non Cash Charges
ChangeInUnpaidConstructionInProcessNonCashCharges
332000
us-gaap Notes Issued1
NotesIssued1
0
us-gaap Notes Issued1
NotesIssued1
3161000
rail Issuance Of Preferred Shares In Exchange Of Term Loan
IssuanceOfPreferredSharesInExchangeOfTermLoan
72607000
us-gaap Debt Issuance Costs Incurred During Noncash Or Partial Noncash Transaction
DebtIssuanceCostsIncurredDuringNoncashOrPartialNoncashTransaction
0
us-gaap Debt Issuance Costs Incurred During Noncash Or Partial Noncash Transaction
DebtIssuanceCostsIncurredDuringNoncashOrPartialNoncashTransaction
3010000
rail Issuance Of Equity Fee
IssuanceOfEquityFee
0
rail Issuance Of Equity Fee
IssuanceOfEquityFee
685000
us-gaap Nature Of Operations
NatureOfOperations
<p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-weight:bold;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">Note 1 – Description of the Business</span></p><p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> </span></p><p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">FreightCar America, Inc. (“FreightCar”, the “Company”, “we” or “our”) operates primarily in North America through its direct and indirect subsidiaries, and designs and manufactures a wide range of railroad freight cars, completes railcar rebody services and railcar conversions that repurpose idled rail assets back into revenue service, supplies railcar parts, and services freight cars. The Company designs and builds high-quality railcars, including bulk commodity cars, covered hopper cars, intermodal and non-intermodal flat cars, mill gondola cars, coil steel cars, coal cars and boxcars, and also specializes in railcar repairs, complete rebody services and the conversion of railcars for re-purposed use. The Company is headquartered in Chicago, Illinois and has facilities in the following locations: Johnstown, Pennsylvania; Qingdao, People’s Republic of China; and Castaños, Coahuila, Mexico (the “Castaños Facility”).</span></p>
CY2024Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
145965000
CY2023Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
88222000
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
306892000
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
168618000
CY2024Q2 us-gaap Operating Lease Lease Income
OperatingLeaseLeaseIncome
1451000
CY2023Q2 us-gaap Operating Lease Lease Income
OperatingLeaseLeaseIncome
374000
us-gaap Operating Lease Lease Income
OperatingLeaseLeaseIncome
1582000
us-gaap Operating Lease Lease Income
OperatingLeaseLeaseIncome
977000
CY2024Q2 us-gaap Revenues
Revenues
147416000
CY2023Q2 us-gaap Revenues
Revenues
88596000
us-gaap Revenues
Revenues
308474000
us-gaap Revenues
Revenues
169595000
CY2024Q2 us-gaap Contract With Customer Asset Net
ContractWithCustomerAssetNet
0
CY2023Q4 us-gaap Contract With Customer Asset Net
ContractWithCustomerAssetNet
0
CY2024Q2 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
8709000
CY2023Q4 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
5686000
CY2024Q2 us-gaap Revenue Remaining Performance Obligation
RevenueRemainingPerformanceObligation
119744000
us-gaap Number Of Operating Segments
NumberOfOperatingSegments
2
us-gaap Number Of Reportable Segments
NumberOfReportableSegments
1
rail Allocatetng Leasing Revenue
AllocatetngLeasingRevenue
1386000
CY2024Q2 rail Allocatetng Leasing Revenue
AllocatetngLeasingRevenue
1386000
us-gaap Litigation Settlement Gain
LitigationSettlementGain
3214000
CY2024Q2 us-gaap Litigation Settlement Gain
LitigationSettlementGain
3214000
CY2023Q2 us-gaap Restructuring Settlement And Impairment Provisions
RestructuringSettlementAndImpairmentProvisions
622000
us-gaap Restructuring Settlement And Impairment Provisions
RestructuringSettlementAndImpairmentProvisions
622000
CY2024Q2 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
2455000
CY2023Q4 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
705000
CY2024Q2 us-gaap Inventory Raw Materials
InventoryRawMaterials
38651000
CY2023Q4 us-gaap Inventory Raw Materials
InventoryRawMaterials
65639000
CY2024Q2 us-gaap Inventory Work In Process
InventoryWorkInProcess
12537000
CY2023Q4 us-gaap Inventory Work In Process
InventoryWorkInProcess
31138000
CY2024Q2 us-gaap Inventory Finished Goods
InventoryFinishedGoods
7903000
CY2023Q4 us-gaap Inventory Finished Goods
InventoryFinishedGoods
23196000
CY2024Q2 us-gaap Other Inventories Spare Parts
OtherInventoriesSpareParts
5388000
CY2023Q4 us-gaap Other Inventories Spare Parts
OtherInventoriesSpareParts
5049000
CY2024Q2 us-gaap Inventory Net
InventoryNet
64479000
CY2023Q4 us-gaap Inventory Net
InventoryNet
125022000
CY2024Q2 us-gaap Inventory Valuation Reserves
InventoryValuationReserves
2027000
CY2023Q4 us-gaap Inventory Valuation Reserves
InventoryValuationReserves
1594000
CY2023Q4 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
1602000
CY2022Q4 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
1940000
us-gaap Product Warranty Accrual Warranties Issued
ProductWarrantyAccrualWarrantiesIssued
313000
us-gaap Product Warranty Accrual Warranties Issued
ProductWarrantyAccrualWarrantiesIssued
603000
us-gaap Product Warranty Accrual Payments
ProductWarrantyAccrualPayments
305000
us-gaap Product Warranty Accrual Payments
ProductWarrantyAccrualPayments
819000
us-gaap Product Warranty Accrual Preexisting Increase Decrease
ProductWarrantyAccrualPreexistingIncreaseDecrease
-249000
us-gaap Product Warranty Accrual Preexisting Increase Decrease
ProductWarrantyAccrualPreexistingIncreaseDecrease
-91000
CY2024Q2 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
1361000
CY2023Q2 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
1633000
CY2024Q2 us-gaap Line Of Credit
LineOfCredit
0
CY2023Q4 us-gaap Line Of Credit
LineOfCredit
29415000
us-gaap Debt Instrument Maturity Date Description
DebtInstrumentMaturityDateDescription
October 31, 2024
us-gaap Debt Instrument Basis Spread On Variable Rate1
DebtInstrumentBasisSpreadOnVariableRate1
0.015
us-gaap Debt Instrument Interest Rate During Period
DebtInstrumentInterestRateDuringPeriod
0.10
rail Accountsreceivablevariableinterestrate1
Accountsreceivablevariableinterestrate1
0.02
rail Accountsreceivablevariableinterestrateduringperiod
Accountsreceivablevariableinterestrateduringperiod
0.105
CY2024Q2 us-gaap Warrants And Rights Outstanding
WarrantsAndRightsOutstanding
52342000
CY2023Q4 us-gaap Warrants And Rights Outstanding
WarrantsAndRightsOutstanding
36801000
CY2024Q2 us-gaap Share Based Compensation
ShareBasedCompensation
766000
CY2023Q2 us-gaap Share Based Compensation
ShareBasedCompensation
-100000
us-gaap Share Based Compensation
ShareBasedCompensation
1526000
us-gaap Share Based Compensation
ShareBasedCompensation
-191000
CY2024Q2 us-gaap Defined Benefit Plan Interest Cost
DefinedBenefitPlanInterestCost
134000
CY2023Q2 us-gaap Defined Benefit Plan Interest Cost
DefinedBenefitPlanInterestCost
151000
us-gaap Defined Benefit Plan Interest Cost
DefinedBenefitPlanInterestCost
269000
us-gaap Defined Benefit Plan Interest Cost
DefinedBenefitPlanInterestCost
302000
CY2024Q2 us-gaap Defined Benefit Plan Expected Return On Plan Assets
DefinedBenefitPlanExpectedReturnOnPlanAssets
75000
CY2023Q2 us-gaap Defined Benefit Plan Expected Return On Plan Assets
DefinedBenefitPlanExpectedReturnOnPlanAssets
86000
us-gaap Defined Benefit Plan Expected Return On Plan Assets
DefinedBenefitPlanExpectedReturnOnPlanAssets
150000
us-gaap Defined Benefit Plan Expected Return On Plan Assets
DefinedBenefitPlanExpectedReturnOnPlanAssets
167000
CY2024Q2 us-gaap Defined Benefit Plan Amortization Of Gains Losses
DefinedBenefitPlanAmortizationOfGainsLosses
35000
CY2023Q2 us-gaap Defined Benefit Plan Amortization Of Gains Losses
DefinedBenefitPlanAmortizationOfGainsLosses
36000
us-gaap Defined Benefit Plan Amortization Of Gains Losses
DefinedBenefitPlanAmortizationOfGainsLosses
70000
us-gaap Defined Benefit Plan Amortization Of Gains Losses
DefinedBenefitPlanAmortizationOfGainsLosses
77000
CY2024Q2 us-gaap Defined Benefit Plan Net Periodic Benefit Cost
DefinedBenefitPlanNetPeriodicBenefitCost
94000
CY2023Q2 us-gaap Defined Benefit Plan Net Periodic Benefit Cost
DefinedBenefitPlanNetPeriodicBenefitCost
101000
us-gaap Defined Benefit Plan Net Periodic Benefit Cost
DefinedBenefitPlanNetPeriodicBenefitCost
189000
us-gaap Defined Benefit Plan Net Periodic Benefit Cost
DefinedBenefitPlanNetPeriodicBenefitCost
212000
rail Description Of Contract
DescriptionOfContract
The contracts have terms between one and 12 months and require the Company to exchange currencies at agreed-upon rates at each settlement date.
us-gaap Loss Contingency Disclosures
LossContingencyDisclosures
<p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-weight:bold;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">Note 16 - Commitments and Contingencies</span></p><p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> </span></p><p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">The Company is involved in various litigation matters, including intellectual property litigation, and warranty and repair claims incidental to the conduct of our business. Although the Company is taking actions to vigorously contest these matters, it is not possible to determine the outcome of these matters and proceedings. The Company does not believe these actions will have a material adverse effect on our financial position, results of operations or cash flows.</span></p>
CY2024Q2 us-gaap Profit Loss
ProfitLoss
8177000
CY2023Q2 us-gaap Profit Loss
ProfitLoss
-18889000
us-gaap Profit Loss
ProfitLoss
-3394000
us-gaap Profit Loss
ProfitLoss
-23926000
CY2024Q2 us-gaap Accretion Expense
AccretionExpense
143000
CY2023Q2 us-gaap Accretion Expense
AccretionExpense
57000
us-gaap Accretion Expense
AccretionExpense
287000
us-gaap Accretion Expense
AccretionExpense
57000
CY2024Q2 us-gaap Dividends Preferred Stock Stock
DividendsPreferredStockStock
4427000
CY2023Q2 us-gaap Dividends Preferred Stock Stock
DividendsPreferredStockStock
1612000
us-gaap Dividends Preferred Stock Stock
DividendsPreferredStockStock
8664000
us-gaap Dividends Preferred Stock Stock
DividendsPreferredStockStock
1612000
CY2024Q2 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
3607000
CY2023Q2 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-20558000
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-12345000
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-25595000
CY2024Q2 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
3607000
CY2023Q2 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
-20558000
us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
-12345000
us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
-25595000
CY2024Q2 us-gaap Weighted Average Number Of Shares Issued Basic
WeightedAverageNumberOfSharesIssuedBasic
17536190
CY2023Q2 us-gaap Weighted Average Number Of Shares Issued Basic
WeightedAverageNumberOfSharesIssuedBasic
16974593
us-gaap Weighted Average Number Of Shares Issued Basic
WeightedAverageNumberOfSharesIssuedBasic
17332304
us-gaap Weighted Average Number Of Shares Issued Basic
WeightedAverageNumberOfSharesIssuedBasic
16883946
CY2024Q2 us-gaap Weighted Average Number Of Shares Contingently Issuable
WeightedAverageNumberOfSharesContingentlyIssuable
13105003
CY2023Q2 us-gaap Weighted Average Number Of Shares Contingently Issuable
WeightedAverageNumberOfSharesContingentlyIssuable
11139232
us-gaap Weighted Average Number Of Shares Contingently Issuable
WeightedAverageNumberOfSharesContingentlyIssuable
12903572
us-gaap Weighted Average Number Of Shares Contingently Issuable
WeightedAverageNumberOfSharesContingentlyIssuable
10668351
CY2024Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
30641193
CY2023Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
28113825
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
30235876
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
27552297
CY2024Q2 rail Weighted Average Number Of Shares Issuance Of Fixed Warrants
WeightedAverageNumberOfSharesIssuanceOfFixedWarrants
1636313
CY2023Q2 rail Weighted Average Number Of Shares Issuance Of Fixed Warrants
WeightedAverageNumberOfSharesIssuanceOfFixedWarrants
0
rail Weighted Average Number Of Shares Issuance Of Fixed Warrants
WeightedAverageNumberOfSharesIssuanceOfFixedWarrants
0
rail Weighted Average Number Of Shares Issuance Of Fixed Warrants
WeightedAverageNumberOfSharesIssuanceOfFixedWarrants
0
CY2024Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
32277506
CY2023Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
28113825
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
30235876
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
27552297
CY2024Q2 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
3130304
CY2023Q2 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
5893935
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
4780208
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
5865863
CY2024Q2 us-gaap Other Receivables Net Current
OtherReceivablesNetCurrent
1010000
CY2023Q4 us-gaap Other Receivables Net Current
OtherReceivablesNetCurrent
638000
CY2024Q2 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.234
CY2023Q2 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
-0.031
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.023
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
-0.029

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