FreightCar America (NASDAQ:RAIL) Posts Earnings Results, Hits Expectations

FreightCar America (NASDAQ:RAIL) announced its earnings results on Monday. The transportation company reported $0.05 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.05, Yahoo Finance reports. The firm had revenue of $147.42 million for the quarter, compared to analysts’ expectations of $127.09 million. FreightCar America had a negative net margin of 6.88% and a negative return on equity of 20.71%. During the same period in the prior year, the company earned $0.02 EPS. FreightCar America updated its FY 2024 guidance to EPS.

FreightCar America Stock Up 15.1 %

Shares of NASDAQ RAIL traded up $0.54 during trading hours on Tuesday, hitting $4.11. 184,344 shares of the stock were exchanged, compared to its average volume of 36,141. FreightCar America has a 12 month low of $2.25 and a 12 month high of $4.26. The firm has a fifty day moving average price of $3.40 and a 200-day moving average price of $3.42. The company has a market cap of $76.90 million, a PE ratio of -2.62 and a beta of 1.97.

Wall Street Analyst Weigh In

Several brokerages have issued reports on RAIL. StockNews.com assumed coverage on FreightCar America in a research report on Sunday. They set a “hold” rating for the company. Noble Financial upgraded shares of FreightCar America to a “strong-buy” rating in a report on Friday, June 28th.

FreightCar America Company Profile

FreightCar America, Inc, through its subsidiaries, engages in design, manufacture, and sale of railcars and railcar components for the transportation of bulk commodities and containerized freight products in the United States and Mexico. It operates in two segments, Manufacturing and Parts. The company offers a range of railcars, including open top hoppers, mill gondola cars, intermodal and non-intermodal flat cars, coal cars; bulk commodity cars covered hopper cars, coil steel cars, boxcars, woodchip hoppers, aluminum vehicle carriers, and articulated bulk container railcars.