FreightCar America, Inc. (RAIL) Tuesday announced net loss for the third quarter, compared to profit last year. The company reaffirmed its previously stated revenue and delivery guidance.
Currently, shares are at $13.55, down 2.16 points or 13.75 percent from the previous close of $15.71.
The Illinois-based designer, producer, and supplier of railroad freight cars said its quarterly loss was $107.05 million, compared to profit of $3. 19 million last year. On a per share basis, loss widened to $3.57 from $0.03 a year ago. On an adjusted basis, earnings were $0.08 per share.
Revenue for the quarter increased to $113.26 million from $61.89 million a year ago.
Looking ahead to the fiscal 2024, the company expects revenue of $560-$600 million, with an year-over-year growth of 62 percent at the midpoint. Further, the company raised its mid-point of the full year adjusted EBITDA guidance between $37 and $39 million.
Railcar deliveries are expected to increase 48.9 percent in a range of 4300-4700.
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