FreightCar America, Inc. reported a significant decline in financial performance for the first quarter of 2026, with total revenues of $64.3 million, down from $96.3 million in the same period last year. The Manufacturing segment, which includes new railcar manufacturing and major conversions, saw revenues drop to $53.0 million from $90.2 million, primarily due to a decrease in the volume of railcar units delivered, which fell from 710 to 577 units. In contrast, the Aftermarket segment experienced growth, with revenues increasing to $11.4 million from $6.1 million, attributed to higher sales volumes of railcar components.
The company's gross profit also decreased, totaling $10.8 million compared to $14.4 million in the prior year, although the gross margin improved slightly to 16.8% from 14.9%. The decline in gross profit was largely driven by lower sales volume in the Manufacturing segment, which reported a gross profit of $7.3 million, down from $12.1 million. Selling, general, and administrative expenses rose to $11.4 million from $10.5 million, influenced by increased finance and legal expenses, despite a reduction in stock-based compensation.
FreightCar America’s operational metrics reflected a mixed performance. The company received 709 net railcar orders during the first quarter, a decrease from 1,250 orders in the same period last year. However, the backlog of unfilled orders increased to 2,058 units, with an estimated sales value of $156 million, up from $137 million at the end of 2025. The company’s total liabilities decreased to $353.3 million from $397.5 million, while stockholders' deficit improved to $(65.3 million) from $(107.4 million), primarily due to a reduction in the accumulated deficit.
Looking ahead, FreightCar America remains cautious about market conditions, citing potential risks from fluctuating raw material costs, changes in customer demand, and geopolitical uncertainties. The company anticipates that its cash balances and credit facilities will be sufficient to meet liquidity needs over the next twelve months. However, it may require additional capital for future growth initiatives, including investments in new machinery and equipment, as well as potential acquisitions. The company continues to monitor its operational performance closely and is focused on strategic initiatives to enhance efficiency and profitability.
About FreightCar America, Inc.
FreightCar America, Inc. designs and manufactures a wide range of railcars for transporting bulk commodities and containerized freight primarily in North America. The company offers railcar rebody, repair, and conversion services, along with railcar parts supply. With a focus on innovation, quality, and long-term customer relationships, it serves railroads, shippers, and financial institutions through a diversified product portfolio and global manufacturing facilities.
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