Thursday, October 21, 2021

FreightCar America, Inc (RAIL) Stock Prices Surge In the Wake of a Hugely Transformative Year

FreightCar America, Inc. (RAIL) stock prices were up a massive 25.58% shortly after the trading day commenced on April 23rd, 2021, bringing the price per share up to a comfortable USD$6.48.


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Q4 2020 Performance

The company reported revenues of USD$60.6 million in Q4 2020 owing to the successful deliveries of 477 railcars. This number reflects a year-over-year growth of 35%. Despite the transitioning of manufacturing to Castanos from Shoals following the planned early termination of their leasing agreement, the company managed to complete the revised 2020 delivery guidance of 750 cars.

Losses in 2020


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Q4 was a transitionary period for the company, as indicated by the reported net loss of USD$14.4 million. This represents a USD$0.87 net loss per share and includes USD$13.3 million in impairment, restructuring and other expenses, with most of them being non-cash.

Reaping Rewards of the Transition

The move to Castanos was followed by the successful escalation of RAIL’s manufacturing footprint, which will enable the company to meet its 2021 target of completing 1400 to 1600 deliveries. This is nearly a doubling of the previous year’s total production. The company’s year-end backlog was reported at a total of 1389 railcars with a sum value of roughly USD$146 million.

RAIL after the Transition

Despite the devastating effects of and the daunting challenges presented by the COVID-19 pandemic over the course of 2020, RAIL managed to make the most of what has come to be a transformative year for the company. The move to Castanos was followed by an expansion in the workforce, and the company boosted its balance sheet to facilitate the provision of growth capital and a solid financial foundation for the business to thrive on.

Transitionary Rough Patch

Because of the transition that took place in 2020, fiscal performance suffered in relation to the year before. Consolidated revenues for the fiscal year of 2020 were reported at USD$108.4 million, down from the USD$230 million reported in 2019. 2020 saw the completion of 751 railcars, of which 600 were new railcars and 151 were rebuilt. This is compared to 2276 railcars delivered in 2019, which consisted of 1728 new railcars and 548 rebuilt railcars.

Future Outlook for RAIL

Nevertheless, the turbulent transitionary year is expected to be highly fruitful, seeing how inventories increased from USD$25.1 million as of December 31st, 2019 to USD$38.8 million at the end of 2020. With the hard part behind them, RAIL is poised to capitalize on the advantages it has gained since and because of its transition. Investors are hopeful for a lucrative future for the company that will usher in unprecedented gains in shareholder value.

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