Freightcar America Inc

FreightCar America reported second quarter 2026 results featuring a 121% sequential increase in backlog value to $344 million on exceptional order intake and rising market share. Revenues were $113.1 million on 927 railcar deliveries, compared to $118.6 million and 939 units a year earlier, while aftermarket revenue grew 13% year over year. Gross margin fell to 5.5% from 15.0%, partly due to $2.2 million in workforce realignment costs, and a $24.9 million non-cash loss on warrant liability drove a net loss of $30.1 million, or $0.94 per diluted share, with adjusted net loss of $0.8 million, or $0.02 per share. Operating cash flow reached $12.1 million and free cash flow $11.3 million, up 43% year over year, and the company completed its second aftermarket acquisition following the quarter end. FreightCar America updated its full-year 2026 outlook to 3,500 to 3,900 railcar deliveries, revenue of $410 million to $460 million, and adjusted EBITDA of $36 million to $44 million.

FreightCar America announced a multi-year order for 1,900 railcars from a key customer, with deliveries scheduled through 2028. The company also reported that second-quarter orders totaled about 3,000 railcars, valued at roughly $300 million, with demand across every core market segment. The update points to backlog visibility, customer repeat activity, and a broader order base.

FreightCar America has been added to the Russell 2000 and Russell 3000 indexes, effective June 29, 2026. The company's President and CEO, Nick Randall, said the inclusion reflects FreightCar America's growth trajectory and progress in strengthening its business. Membership in these widely followed benchmarks is expected to broaden the company's visibility within the institutional investment community. The Russell indexes are used by investment managers and institutional investors, with approximately $12.2 trillion in investor assets benchmarked to or invested in products based on the Russell US Indexes, according to FTSE Russell. The annual reconstitution ranks the 4,000 largest US stocks by total market capitalization as of April 30, and membership in the Russell 3000 Index means automatic inclusion in either the large-cap Russell 1000 Index or small-cap Russell 2000 Index, along with the appropriate growth and value style indexes.