Freightcar america, inc. reports third quarter 2024 results

Company delivers 83% year-over-year revenue growth with strong gross margin raises mid-point of full year adjusted ebitda guidance chicago, nov. 12, 2024 (globe newswire) -- freightcar america, inc. (nasdaq: rail) (“freightcar america” or the “company”), a diversified manufacturer and supplier of railroad freight cars, railcar parts and components, today reported results for the third quarter ended september 30, 2024. third quarter 2024 highlights revenues of $113.3 million on 961 railcar deliveries, compared to revenues of $61.9 million on 503 railcar deliveries in the third quarter of 2023, up 83% and 91% respectively gross margin of 14.3% with gross profit of $16.2 million, compared to gross margin of 14.9% with gross profit of $9.2 million in the third quarter of 2023 net loss of ($107.0) million, or ($3.57) per share and adjusted net income of $7.3 million, or $0.08 per share, driven by a ($110.0) million non-cash loss on warrant liability due to a significant appreciation in share price adjusted ebitda of $10.9 million, compared to adjusted ebitda of $3.5 million in the third quarter of 2023, up 211% ended the quarter with a backlog of 3,611 units valued at $372 million “we again demonstrate the power of our disciplined approach to growth and operational excellence.
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