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FreightCar America (RAIL) Misses Q1 EPS by 64c

May 5, 2014 6:28 AM

FreightCar America (NASDAQ: RAIL) reported Q1 EPS of ($0.58), $0.64 worse than the analyst estimate of $0.06. Revenue for the quarter came in at $56.1 million versus the consensus estimate of $85.88 million.

The Company delivered 753 railcars in the first quarter of 2014, which included 363 new and 390 rebuilt railcars. The new car deliveries included 75 cars added to the lease fleet. This compares to 1,073 railcars delivered in the first quarter of 2013, including 448 new cars and 625 rebuilt cars. There were 1,101 railcars delivered in the fourth quarter of 2013, of which 190 were new, 99 were used and 812 were rebuilds. Total manufacturing backlog was 7,727 units at March 31, 2014, compared to 2,082 units at March 31, 2013 and 6,826 units at December 31, 2013.

The Manufacturing segment had revenues of $48.0 million in the first quarter of 2014, compared to $77.7 million in the first quarter of 2013 and $72.1 million in the fourth quarter of 2013. The operating loss for the Manufacturing segment was $5.0 million in the first quarter of 2014, compared to operating income of $2.1 million in the first quarter of 2013 and an operating loss of $8.7 million in the fourth quarter of 2013. The fourth quarter 2013 Manufacturing segment operating loss included $7.6 million in impairment charges.

For earnings history and earnings-related data on FreightCar America (RAIL) click here.

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