FreightCar America, Inc. (NASDAQ: RAIL) issued a press release on October 19, 2026, announcing an update to its fiscal year 2026 outlook and preliminary results for the third quarter ended September 30, 2026. The filing details a significant adjustment to the company's backlog and financial projections.
The company has elected to remove a tank car retrofit order for 1,285 railcars from its backlog. This decision was made because FreightCar America believes the associated customer is unlikely to meet its contractual obligations. The order, which was scheduled to begin delivery in the second half of 2026 and continue through 2027, has been fully removed from the outlook and backlog.
Following this adjustment, the company reported preliminary third quarter 2026 figures. Railcar deliveries decreased to 662 units from 1,304 units in the same period of the previous year. Revenue was reported between $75 million and $77 million, down from $160.5 million in the third quarter of 2025. Adjusted EBITDA for the quarter is estimated to be between $(0.3) million and $0.3 million, compared to $17.0 million in the prior year.
As of September 30, 2026, the company’s backlog stands at 2,660 units with a value of $284.5 million. The updated fiscal year 2026 outlook excludes the removed order and is as follows:
- Railcar Deliveries: 3,100 – 3,300 units (previously 3,500 – 3,900 units)
- Revenue: $370 – $410 million (previously $410 – $460 million)
- Adjusted EBITDA: $15 – $19 million (previously $36 – $44 million)
The company stated that its commitment to the tank car retrofit market remains unchanged and that no other orders in the backlog are affected by this adjustment. FreightCar America expects to report full third quarter 2026 results on November 9, 2026, after the market close.
