FreightCar America Posts Wider Loss In Q1 - Quick Facts

(RTTNews) - FreightCar America, Inc. (RAIL) reported a first quarter loss of $1.29 per share, compared to a loss of $1.12 per share, a year ago. Analysts polled by Thomson Reuters expected the company to report a loss per share of $0.81, for the quarter. Analysts' estimates typically exclude special items.

First quarter consolidated revenues were $5.2 million compared to $70.7 million, prior year. The company delivered 11 railcars in the first quarter of 2020, compared to 641 railcars delivered in the first quarter of 2019.

Due to the increased uncertainty caused by the COVID-19 pandemic, the company has decided to withdraw its guidance for fiscal 2020.

Total cash, cash equivalents, restricted cash equivalents, marketable securities and restricted certificates of deposit of $60.5 million at March 31, 2020.