Freightcar america, inc. reports fourth quarter and full year 2023 results

Company delivers solid results with gross profit up 62% on significant year-over-year margin expansion provides revenue, deliveries and adjusted ebitda guidance for 2024 chicago, march 18, 2024 (globe newswire) -- freightcar america, inc. (nasdaq: rail) (“freightcar america” or the “company”), a diversified manufacturer of railroad freight cars, today reported results for the fourth quarter and full year ended december 31, 2023. fiscal year 2023 highlights revenues of $358.1 million, down 1.8% year-over-year, on deliveries of 3,022 railcars, down 5.1% year-over-year gross margin of 11.7% with gross profit of $41.8 million, compared to gross margin of 7.1% with gross profit of $25.8 million in fiscal year 2022 net loss of ($23.6) million, or ($1.18) per share and adjusted net loss of ($1.0) million, or ($0.39) per share, accounting for primarily non-cash items including $14.9 million loss on extinguishment of debt, $4.1 million impairment on leased railcars and $2.2 million on the change in fair market value of warrant liability adjusted ebitda of $20.1 million, compared to adjusted ebitda of $8.4 million in fiscal year 2022 announced that on may 1, 2024, nick randall, the company's current chief operating officer, will succeed jim meyer as president and chief executive officer and become a member of the company's board of directors, while mr.
RAIL Ratings Summary
RAIL Quant Ranking