Supply Side: FreightCar America, Rail Vision
FreightCar America marks a milestone with the 10,000th railcar produced at its Mexico plant. Also, Rail Vision Ltd. receives a follow-on order from a U.S.-based rail and leasing services company.
FreightCar America
CN Receiving Next-Gen Ore Jennies (UPDATED 5/23)
CN is taking delivery on 600 new 1,150-cubic-foot iron ore hopper cars, colloquially called “jennies,” from FreightCar America. The new equipment, described as “a significant upgrade to CN’s fleet,” incorporates materials from
FreightCar America 1Q24: Revenue Growth ‘In Line With Expectations’
“First quarter revenue grew 99% year-over-year and in line with our expectations,” said FreightCar America (FCA) President and CEO Nick Randall during a May 8 earnings report.
FreightCar America: ‘Solid Results’ for 4Q23; Randall Named New CEO
FreightCar America (FCA) delivered solid results for fourth-quarter 2023 with gross profit up 62% on significant year-over-year margin expansion, President and CEO Jim Meyer said during a March 18 earnings report, also announcing that Chief Operating Officer Nick Randall, effective May 1, 2024, will succeed Meyer as President and CEO and become a member of the company’s Board of Directors.
Commentary
REF 2024: Rail Equipment Close to Equilibrium; Structural Shifts May Emerge
We had one-on-one and group meetings with several rail and rail equipment stakeholders at the Rail Equipment Finance Conference 2024 (REF), held March 3-6 in La Quinta, Calif. Putting the pieces together,
FreightCar America 3Q23: Improved Performance Despite ‘Unique Challenges’
“Our results this quarter underscore the power of disciplined commercial decision making combined with running the most efficient manufacturing operation in the industry. While the third quarter presented unique challenges for FreightCar America (FCA), including the disruptive impacts of the migrant issue and subsequent rail service interruption, we continued to improve the quality of our performance,” said President and CEO Jim Meyer during a Nov. 6 earnings report.
FreightCar America Posts ‘Impressive’ 2Q23 (UPDATED, TD Cowen Insight)
“FreightCar America (FCA) finished an impressive quarter, with revenues up 56% year-over-year and gross margins of 14.6%,” said President and CEO Jim Meyer during an Aug. 7 earnings report that also announced the addition of Nick Randall as the company’s first COO.
People News: FreightCar America, UP
FreightCar America, Inc. (FreightCar America) appoints Nicholas J. Randall as Chief Operating Officer. Also, Union Pacific (UP) promotes Chief Information Officer Rahul Jalali to Executive Vice President.
FCA 1Q23: Gross Margin, Profitability Improvements (UPDATED May 12, TD Cowen)
Reflecting continued efforts to ramp up the Castaños, Mexico factory and to mitigate supply-chain challenges, FreightCar America, Inc. (FCA) “experienced sequential improvement” in gross margin and profitability in first-quarter 2023, according to President and CEO Jim Meyer.
For FCA, ‘Another Strong Year of Transformation’ (Updated March 31)
While FreightCar America (FCA) finished “strong” in 2022, ramping up operations in Castaños, Mexico, and delivering 3,184 railcars, the carbuilder in the fourth quarter “continued to experience margin pressure, primarily due to supply chain issues,” President and CEO Jim Meyer said during a March 27 financial report. “These dynamics will be with us through the first quarter of this year, after which we expect to see further improvement in our financial performance.”