FreightCar America Revises 2026 Outlook, Reports Preliminary Q3 Results

FreightCar America Sees 3Q Rev $75M-$77M >RAIL

FreightCar America removed a 1,285-car tank retrofit order from backlog, revising its 2026 outlook. Backlog is now 2,660 units valued at $284.5M. Preliminary Q3 2026 figures are unaudited; full results are expected Nov. 9, 2026.Material DetailsContext by AI AnalystThis is a mid-cycle reset, cutting…

Tank Car Retrofit Order Removed from Full-Year Outlook and Backlog Full-Year 2026 Outlook Revised Across Railcar Deliveries, Revenue and Adjusted EBITDA Full Third Quarter 2026 Results to Be Released on Monday, November 9, 2026, with Conference Call on Tuesday, November 10, 2026 at 11:00 a.m. ET CHICAGO, Oct. 19, 2026 (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 updated its outlook for fiscal year 2026 and reported preliminary results for the third quarter ended September 30, 2026. Tank Car Retrofit Order The Company has elected to remove 1,285 railcars related to its tank car retrofit order from its backlog because the Company believes that the customer in question is unlikely to be able to meet its obligations under the associated customer contract. The order was to begin delivery in the second half of 2026 and continue through 2027. The updated 2026 outlook announced today excludes the railcars related to this order that had been scheduled to be delivered in 2026. No other orders in the Company’s backlog are affected. After this removal, backlog as of September 30, 2026 was 2,660 units valued at $284.5 million. Preliminary Third Quarter 2026 Results Railcar deliveries of 662 units, compared to 1,304 units in the third quarter of 2025 Revenue of $75 million to $77 million, compared to $160.5 million in the third quarter of 2025 Adjusted EBITDA of $(0.3) million to $0.3 million, compared to $17.0 million in the third quarter of 2025 Backlog of 2,660 units valued at $284.5 million as of September 30, 2026 These preliminary figures are unaudited and subject to the completion of the Company’s quarter-end closing procedures. "We have elected to remove the customer’s contractually committed tank car retrofit order from our reported backlog in full," said Nick Randall, President and Chief Executive Officer of FreightCar America. "The removal covers all deliveries scheduled for 2026 and 2027. Our updated 2026 outlook excludes the associated deliveries and reflects our current operating forecast. This adjustment is specific to one customer order. Our remaining backlog continues to be supported by firm customer commitments, and no other orders are affected by this adjustment." Randall continued, "Our commitment to the tank car retrofit market remains unchanged. We continue to focus on the railcar types where we have a proven record and continue to gain share, while growing our aftermarket business. Our flexible operating model positions us to execute on our remaining backlog and respond as industry demand improves. We look forward to discussing our commercial progress and strategic priorities on our upcoming earnings call." Updated Fiscal Year 2026 Outlook The Company has updated its outlook for fiscal year 2026 as follows: Updated Fiscal 2026 Outlook Prior Fiscal 2026 Outlook (August 3, 2026) Rail