Revenue: As of FY2026 Q1, the actual value is USD 64.31 M, missing the estimate of USD 74.6 M.EPS: As of FY2026 Q1, the actual value is USD 1.15, beating the estimate of USD -0.0333.EBIT: As of FY2026 Q1, the actual value is USD 2.782 M.<h4>Segment Revenue</h4><ul><li>FreightCar America, Inc.’s consolidated revenues were $64.3 million for the three months ended March 31, 2026, a decrease from $96.3 million for the same period in 2025.</li><li>Manufacturing segment revenues were $53.0 million for the three months ended March 31, 2026, down from $90.2 million in the prior year, primarily due to a decrease in railcar units delivered (577 units in 2026 vs. 710 units in 2025) and a lower average sales price.</li><li>Aftermarket segment revenues increased to $11.4 million for the three months ended March 31, 2026, from $6.1 million in the prior year, reflecting increased volume of component sales.</li></ul><h4>Operational Metrics</h4><ul><li>Consolidated gross profit was $10.8 million for the three months ended March 31, 2026, compared to $14.4 million for the same period in 2025.</li><li>Consolidated gross margin was 16.8% for the three months ended March 31, 2026, up from 14.9% in the prior year.</li><li>Manufacturing segment gross profit was $7.3 million for the three months ended March 31, 2026, down from $12.1 million in 2025.</li><li>Manufacturing segment gross margin was 13.8% for the three months ended March 31, 2026, a slight increase from 13.4% in 2025, reflecting lower sales volume with a favorable price mix.</li><li>Aftermarket segment gross profit increased to $3.5 million for the three months ended March 31, 2026, from $2.3 million in 2025, driven by favorable volume.</li><li>FreightCar America, Inc. reported a consolidated operating loss of - $0.6 million for the three months ended March 31, 2026, compared to an operating income of $3.9 million for the same period in 2025.</li><li>Manufacturing segment operating income was $7.0 million for the three months ended March 31, 2026, down from $11.8 million in 2025.</li><li>Aftermarket segment operating income was $2.5 million for the three months ended March 31, 2026, up from $1.7 million in 2025.</li><li>Corporate operating loss was - $10.1 million for the three months ended March 31, 2026, compared to - $9.6 million in 2025.</li><li>Consolidated Selling, General and Administrative (SG&amp;A) expenses were $11.4 million for the three months ended March 31, 2026, an increase of $0.9 million from $10.5 million in 2025, primarily due to increases in finance and legal expenses, partially offset by a decrease in stock-based compensation.</li><li>Net income was $41.6 million for the three months ended March 31, 2026, compared to $50.4 million for the same period in 2025.</li><li>Interest expense was - $3.4 million for the three months ended March 31, 2026, an improvement from - $4.3 million in 2025.</li><li>A gain of $49.1 million on change in fair market value of warrant liability was recorded for the three months ended March 31, 2026, compared to $52.9 million in 2025, reflecting fluctuations in stock price and the number of shares underlying outstanding warrants.</li><li>The income tax provision was $3.7 million for the three months ended March 31, 2026, up from $1.8 million in 2025, due to changes in the mix of income among jurisdictions and permanent items.</li><li>Consolidated depreciation and amortization was $1.9 million in 2026, compared to $1.5 million in 2025.</li></ul><h4>Cash Flow</h4><ul><li>Net cash used in operating activities was - $4.3 million for the three months ended March 31, 2026, a decrease from $12.8 million provided by operating activities in 2025, primarily due to changes in working capital.</li><li>Net cash used in investing activities was - $0.1 million for the three months ended March 31, 2026, compared to - $0.3 million in 2025, mainly for capital expenditures related to machinery and equipment enhancements.</li><li>Net cash used in financing activities was - $7.0 million for the three months ended March 31, 2026, compared to - $2.8 million in 2025, including borrowings and repayments on revolving credit, term loan repayments, and employee stock settlements.</li></ul><h4>Unique Metrics</h4><ul><li>Total net railcar orders received were 709 units for the three months ended March 31, 2026, consisting of 509 new railcars and 200 converted/rebodied railcars, down from 1,250 new railcars in 2025.</li><li>The total backlog of unfilled orders was 2,058 units as of March 31, 2026, an increase from 1,926 railcars as of December 31, 2025.</li><li>The estimated sales value of the backlog was $156 million as of March 31, 2026, up from $137 million as of December 31, 2025.</li><li>Customer deposits were $5.3 million as of March 31, 2026, with no customer deposits as of December 31, 2025.</li><li>Deferred revenue was $9.0 million as of March 31, 2026, compared to $0.5 million as of December 31, 2025.</li><li>The fair value of the Warrant liability was $119.4 million as of March 31, 2026, compared to $168.5 million as of December 31, 2025.</li><li>The fair value of the contingent consideration liability was $2.0 million as of both March 31, 2026, and December 31, 2025.</li></ul><h4>Future Outlook and Strategy</h4><ul><li>FreightCar America, Inc. believes its current cash balances will be sufficient to meet liquidity needs for at least the next twelve months based on its current level of operations and known changes in planned volume.</li><li>Anticipated capital expenditures for 2026 are projected to be in the range of $7 million to $10 million, allocated for enhancing machinery and equipment on current production lines and investing in new machinery for tank car production.</li><li>Long-term liquidity is contingent upon future operating performance, meeting financial covenants under credit facilities, and the potential availability of additional financing for working capital, organic growth, joint ventures, international expansion, and acquisitions.</li></ul>

FreightCar America | 10-Q: FY2026 Q1 Revenue Misses Estimate at USD 64.31 M