Expansion of Gross Margins
Gross margins for the quarter expanded to 15% on 939 deliveries, up from 12.5% on 1,159 deliveries a year ago.
Increase in Orders and Backlog
FreightCar America secured 1,226 new orders in the quarter, increasing the backlog to 3,624 units, up approximately 300 units from the prior quarter.
Positive Operating Cash Flow
The company marked its fifth consecutive quarter of positive operating cash flow, finishing Q2 with over $61 million of cash on hand.
Investment in Tank Car Retrofit Program
FreightCar America announced a capital investment in the tank car retrofit program, positioning for future growth and margin enhancement.
Strong Aftermarket Sales Growth
Aftermarket sales increased almost 61% year-over-year, showing growth in the company's aftermarket presence.