Significant Market Share Gain
FreightCar America expanded its addressable market share from 8% to 27% over the last 12 months, becoming the fastest-growing railcar manufacturer in North America.
Strong Financial Performance
Gross margin expanded to 14.9%, up 780 basis points year-over-year, nearly doubling from the same period last year. Adjusted EBITDA was $7.3 million, exceeding last year despite lower revenue and deliveries.
Robust Order Pipeline and Backlog
1,250 new railcar orders valued at approximately $141 million were booked in Q1, increasing the backlog to 3,337 railcars totaling $318 million. This provides excellent visibility well into 2025.
Consistent Cash Flow Generation
Generated $12.8 million in operating cash flow, marking the fourth consecutive quarter of positive cash flow from operations. Adjusted free cash flow improved by $43 million compared to Q1 2024.
Positive Future Outlook
Reaffirmed full-year 2025 guidance with expected deliveries of 4,500 to 4,900 railcars and revenue of $530 million to $595 million. Adjusted EBITDA is expected between $43 million and $49 million.