FreightCar America (RAIL) Misses Q3 EPS by 77c, Miss on Revenues; 'Extremely Disappointed with 3Q Results'

FreightCar America (NASDAQ: RAIL) reported Q3 EPS of ($0.94), $0.77 worse than the analyst estimate of ($0.17). Revenue for the quarter came in at $72 million versus the consensus estimate of $87.83 million.

“We are extremely disappointed with our third quarter results. While the challenging market conditions adversely impacted pricing and contributed to lower quarterly deliveries, we also felt the full impact of the persistent manufacturing challenges at our Shoals facility,” said Jim Meyer, President and Chief Executive Officer. “We are fully engaged in addressing the ongoing manufacturing issues. While it will take time, I am confident that we know what to do and in our ability to implement the changes required to address these issues. We also remain focused on managing our balance sheet. This focus has resulted in positive operating cash flow in 2017, $127 million in cash and marketable securities, and the ability to make future investments to enhance profitability and shareholder value.”

For earnings history and earnings-related data on FreightCar America (RAIL) click here.

You May Also Be Interested In

• Kroger (KR) Reports In-Line Q1 EPS, Beats on Revenue; Offers FY27 EPS Guidance
• SpaceX receives Baa1 rating from Moody's with stable outlook
• Vail Resorts taps bankers for potential activist defense, Semafor reports