FreightCar America Full Year 2023 Earnings: Misses Expectations
FreightCar America (NASDAQ:RAIL) Full Year 2023 Results
Key Financial Results
Revenue: US$358.1m (down 1.8% from FY 2022).
Net loss: US$23.6m (loss narrowed by 39% from FY 2022).
US$0.83 loss per share (improved from US$1.56 loss in FY 2022).
All figures shown in the chart above are for the trailing 12 month (TTM) period
FreightCar America Revenues and Earnings Miss Expectations
Revenue missed analyst estimates by 2.3%. Earnings per share (EPS) also missed analyst estimates by 20%.
The primary driver behind last 12 months revenue was the Manufacturing segment contributing a total revenue of US$345.9m (97% of total revenue). Notably, cost of sales worth US$316.3m amounted to 88% of total revenue thereby underscoring the impact on earnings. The most substantial expense, totaling US$37.6m were related to Non-Operating costs. This indicates that a significant portion of the company's costs is related to non-core activities. Explore how RAIL's revenue and expenses shape its earnings.
Looking ahead, revenue is forecast to grow 23% p.a. on average during the next 2 years, compared to a 3.4% growth forecast for the Machinery industry in the US.
Performance of the American Machinery industry.
The company's shares are up 16% from a week ago.
Risk Analysis
Before you take the next step you should know about the 2 warning signs for FreightCar America that we have uncovered.
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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.
