Key Highlights

  • Revenue fell to $76.5 million from $160.5 million in the third quarter of 2025.
  • The company delivered 662 railcars, compared with 1,304 units a year earlier.
  • Aftermarket Revenue grew 65% year over year.
  • The adjusted net loss was $9.5 million for the quarter.

FreightCar America, Inc. (NASDAQ:RAIL) reported third-quarter 2026 revenue of $76.5 million, less than half of the $160.5 million it recorded a year earlier. The Chicago-based manufacturer of railroad freight cars and components delivered 662 railcars, compared with 1,304 units in the prior-year period.

Deliveries and Aftermarket Growth

The company did not attribute the decline in the summary figures to a single cause.

Margins and Losses

Gross profit fell to $6.7 million from $24.2 million a year earlier, and gross Margin declined to roughly 9% from 15.1%.

The company's adjusted net loss was $9.5 million for the quarter. The GAAP loss figure is also reported in the company's results, but the summary figures do not provide the full breakdown of the difference between GAAP and adjusted results.

Operating Context

A decline in deliveries from 1,304 units to 662 units has a direct effect on revenue and on the fixed costs of its plants. The company's aftermarket business, which grew 65%, is less tied to new orders and provides a steadier base.

Freight cars are Capital equipment purchased by railroads, leasing companies and shippers, and their orders follow freight demand, fleet replacement schedules and the availability of financing.

Final Word

The aftermarket Business grew 65% and provided a partial offset.