FreightCar America Turns To Loss In Q2

(RTTNews) - FreightCar America, Inc. (RAIL) reported loss for the second quarter, with lower revenue.

Net loss for the period was $3.44 million or $0.29 per share versus profit of $5.56 million or $0.46 per share last year.

Revenue declined to $47.11 million from $181.21 million same period last year.

Manufacturing segment revenue plunged while service segment revenue was marginally higher.

The company delivered 710 railcars in the period, which included 160 new railcars, 200 leased railcars and 350 rebuilt railcars that is lesser compared to the year ago period.

Looking ahead, the company said it cotinues to focus on diversification of its product offerings. The company specified that Shoals, Alabama manufacturing facility starts up as planned, with first deliveries expected in third quarter.