FreightCar America, Inc. Files 10-Q for Q1 2024

TL;DR

<b>FreightCar America, Inc. has submitted its Q1 2024 10-Q filing, detailing financial performance and operational segments.</b>

AI Summary

FreightCar America, Inc. (RAIL) filed a Quarterly Report (10-Q) with the SEC on May 8, 2024. FreightCar America, Inc. filed its 10-Q report for the period ending March 31, 2024. The filing covers the first quarter of fiscal year 2024. The company's Standard Industrial Classification is Railroad Equipment [3743]. The filing includes data points for various financial statement items and segments. Key dates and financial metrics from previous periods are referenced.

Why It Matters

For investors and stakeholders tracking FreightCar America, Inc., this filing contains several important signals. This 10-Q provides investors with the latest quarterly financial results and operational updates for FreightCar America, Inc. Understanding the details within this filing is crucial for assessing the company's current financial health and future prospects in the railroad equipment sector.

Risk Assessment

Risk Level: low — FreightCar America, Inc. shows low risk based on this filing. The filing is a standard 10-Q, providing routine financial disclosures without immediate indicators of significant new risks or positive/negative events.

Analyst Insight

Monitor future filings for trends in revenue, net income, and debt levels to assess the company's financial trajectory.

Key Numbers

• 2024-03-31 — Period End Date (Conformed period of report)
• 2024-05-08 — Filing Date (Filed as of date)
• 3743 — SIC Code (Standard Industrial Classification)
• DE — State of Incorporation (State of incorporation)
• 1231 — Fiscal Year End (Fiscal year end)

Key Players & Entities

• FreightCar America, Inc. (company) — Filer name
• RAIL (company) — Ticker symbol
• 2024-05-08T00:00:00.000Z (date) — Filing date
• 20240331 (date) — Period of report
• 0000950170-24-055793 (filing_id) — Accession number
• 125 SOUTH WACKER DRIVE SUITE 1500 (address) — Business address
• CHICAGO (location) — Business address city
• IL (location) — Business address state

FAQ

Industry Context

FreightCar America operates within the railroad equipment manufacturing and services industry, supplying railcars and parts to various customers.

Regulatory Implications

The filing is a standard 10-Q, adhering to SEC regulations for quarterly financial reporting under the Securities Exchange Act of 1934.

What Investors Should Do

1. Review the full 10-Q document for detailed financial statements and management discussion.
2. Analyze segment performance and any disclosed risk factors for deeper insights.
3. Compare Q1 2024 results with historical data to identify trends.

Key Dates

• 2024-03-31: Quarter End — End of the reporting period for the 10-Q filing.
• 2024-05-08: Filing Date — Date the 10-Q was officially filed with the SEC.

Year-Over-Year Comparison

This filing represents the company's standard quarterly report (10-Q) for the period ending March 31, 2024, providing updated financial information compared to previous filings.

Key Financial Figures

• $0.01 — ch registered Common stock, par value $0.01 per share RAIL The Nasdaq Global Ma
• $375 — lender a fee due and payable in cash of $375 per quarter. 11 The standby letter

Filing Documents

• rail-20240331.htm (10-Q) — 1282KB
• rail-ex10_3.htm (EX-10.3) — 214KB
• rail-ex10_4.htm (EX-10.4) — 219KB
• rail-ex10_5.htm (EX-10.5) — 214KB
• rail-ex10_6.htm (EX-10.6) — 124KB
• rail-ex31_1.htm (EX-31.1) — 18KB
• rail-ex31_2.htm (EX-31.2) — 18KB
• rail-ex32.htm (EX-32) — 20KB
• 0000950170-24-055793.txt (&nbsp;) — 7865KB
• rail-20240331.xsd (EX-101.SCH) — 1245KB
• rail-20240331_htm.xml (XML) — 1153KB

– FINANCIAL INFORMATION

PART I – FINANCIAL INFORMATION 1.

Financial Statements

Financial Statements: Condensed Consolidated Balance Sheets (Unaudited) as of March 31, 2024 and December 31, 2023 3 Condensed Consolidated Statements of Operations (Unaudited) for the Three Months Ended March 31, 2024 and 2023 4 Condensed Consolidated Statements of Comprehensive Income (Loss) (Unaudited) for the Three Months Ended March 31, 2024 and 2023 5 Condensed Consolidated Statements of Stockholders' Equity (Unaudited) for the Three Months Ended March 31, 2024 and 2023 6 Condensed Consolidated Statements of Cash Flows (Unaudited) for the Three Months Ended March 31, 2024 and 2023 7 Notes to Condensed Consolidated Financial Statements (Unaudited) 8 2.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 17 4.

Controls and Procedures

Controls and Procedures 21

– OTHER INFORMATION

PART II – OTHER INFORMATION 1.

Legal Proceedings

Legal Proceedings 22 2. Unregistered Sales of Equity Securities and Use of Proceeds 22 3. Defaults Upon Senior Securities 22 4. Mine Safety Disclosures 22 5. Other Information 22 6. Exhibits 22

– FINANCIAL INFORMATION

PART I – FINANCIAL INFORMATION

Financial Statements

Item 1. Financial Statements. FreightCar America, Inc. Condensed Consolidated Balance Sheets (In thousands, except for share data) (Unaudited) March 31, 2024 December 31, 2023 Assets Current assets Cash, cash equivalents and restricted cash equivalents $ 13,977 $ 40,560 Accounts receivable, net of allowance for doubtful accounts of $ 82 and $ 18 respectively 35,040 6,408 VAT receivable 3,959 2,926 Inventories, net 109,778 125,022 Assets held for sale 629 — Related party asset 902 638 Prepaid expenses 6,533 4,867 Total current assets 170,818 180,421 Property, plant and equipment, net 30,673 31,258 Railcars available for lease, net — 2,842 Right of use asset operating lease 2,724 2,826 Right of use asset finance lease 39,676 40,277 Other long-term assets 4,778 1,835 Total assets $ 248,669 $ 259,459 Liabilities, Mezzanine Equity and Stockholders' Deficit Current liabilities Accounts and contractual payables $ 75,918 $ 84,417 Related party accounts payable 2,394 2,478 Accrued payroll and other employee costs 4,975 5,738 Accrued warranty 1,468 1,602 Current portion of long-term debt 30,002 29,415 Other current liabilities 7,309 13,711 Total current liabilities 122,066 137,361 Warrant liability 52,454 36,801 Accrued pension costs 1,106 1,046 Lease liability operating lease, long-term 3,038 3,164 Lease liability finance lease, long-term 41,084 41,273 Other long-term liabilities 2,278 2,562 Total liabilities 222,026 222,207 Commitments and contingencies Mezzanine equity Series C Preferred stock, $ 0.01 par value, 85,412 shares authorized, 85,412 shares issued and outstanding at each of March 31, 2024 and December 31, 2023, respectively. Liquidation value $ 99,285 and $ 95,048 at March 31, 2024 and December 31, 2023, respectively. 83,602 83,458 Stockholders' deficit Pref

View Full Filing

View this 10-Q filing on SEC EDGAR