Despite declining headline revenue, the company demonstrated improved profitability and cash flow generation. The 2026 guidance suggests stabilization and modest growth, supported by a diversified backlog and aftermarket expansion. Traders should monitor execution on margin expansion and conversion of backlog into deliveries.
Price Chart
Executive Summary
FreightCar America reported full-year 2025 revenue of $501.0 million, down from $559.4 million in 2024, with adjusted net income of $18.1 million and strong free cash flow growth of 44.8% to $31.4 million. The company issued 2026 guidance projecting 4.8% revenue growth and 10.4% growth in Adjusted EBITDA, despite a challenging railcar industry environment.
Key Financial Metrics
Key Facts
- Full-year 2025 revenue was $501.0 million, down 10.4% from $559.4 million in 2024
- Full-year 2025 adjusted net income was $18.1 million, or $0.50 per share
- Adjusted EBITDA increased 4.2% to $44.8 million in 2025 from $43.0 million in 2024
- Operating cash flow was $34.8 million and adjusted free cash flow was $31.4 million, up 44.8% year-over-year
- Company issued 2026 guidance: revenue of $500-$550 million (4.8% growth at midpoint), Adjusted EBITDA of $41-$50 million (10.4% growth)
- Backlog ended at 1,926 units valued at $137.5 million
- Completed acquisition of Carly Railcar Components, LLC to expand aftermarket business
Financial Impact
Revenue declined 10.4% YoY but profitability improved with gross margin expanding 260 bps to 14.6%; free cash flow up 44.8%
Risk Factors
- Revenue has declined for two consecutive years, indicating persistent industry headwinds
- Adjusted EBITDA growth in 2026 is modest and dependent on improved market conditions
- Warrant liability remains high at $168.5 million, creating volatility in future earnings
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 1 press release from GlobeNewswire.
| Document | Accession Number |
|---|---|
| PRESS-RELEASE Data (Synthetic) | press-3252312 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 20, 2026 6d ago | Press Release | $4.12 $4.30 | ▲ +4.37% | ▲ +5.55% | $4.40 (+6.80%) |
Oct 19, 2026 7d ago | 8-K | $4.02 $4.12 | ▼ −2.62% | ▼ −2.09% | $4.40 (−9.59%) |
Oct 19, 2026 7d ago | Press Release | $4.02 $4.12 | ▼ −2.49% | ▼ −1.96% | $4.40 (−9.45%) |
Oct 16, 2026 10d ago | SC 13D/A | $5.85 $4.02 | ▼ −31.37% | ▼ −31.70% | $4.40 (−24.79%) |
Oct 15, 2026 11d ago | 8-K | $5.92 $5.85 | ▼ −1.18% | ▼ −1.61% | $4.40 (−25.68%) |
Aug 3, 2026 12w ago | Press Release | $8.54 $7.91 | ▼ −7.38% | ▼ −7.18% | $4.40 (−48.48%) |
Jun 16, 2026 18w ago | 8-K | $8.79 $9.22 | ▲ +4.89% | ▲ +6.14% | $4.40 (−49.94%) |
May 4, 2026 25w ago | 8-K | $7.72 $7.72 | · 0.00% | ▲ +1.38% | $4.40 (+43.01%) |
May 4, 2026 25w ago | Press Release | $7.72 $7.72 | · 0.00% | ▲ +1.38% | $4.40 (+43.01%) |
Apr 20, 2026 27w ago | Press Release | $8.74 $8.83 | ▲ +1.03% | ▲ +0.01% | $4.40 (−49.66%) |
US Market Status
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