Q4 2024 FreightCar America Inc Earnings Call Transcript
Key Points
- FreightCar America Inc (RAIL) achieved a 57% increase in market share on orders won across its addressable market, despite a 45% year-on-year decline in the market.
- The company delivered 56% revenue growth for the year and exceeded its adjusted EBITDA guidance, achieving $43 million, a 114% increase over the prior year.
- FreightCar America Inc (RAIL) generated $45 million in operating cash flow and $22 million in adjusted free cash flow for the full year.
- The company successfully launched into the tank car segment, expanding its reach and competitive advantage in a higher-margin space.
- FreightCar America Inc (RAIL) redeemed all outstanding preferred shares, resulting in approximately $9.2 million in cost savings, and expanded its ABL credit facility to enhance financial flexibility.
- The addressable market for FreightCar America Inc (RAIL) was down 45% year-on-year, indicating broader industry challenges.
- There were minor timing delays in the fourth quarter, resulting in some delivery fulfillment being pushed into early Q1.
- The company faces uncertainty due to tariffs, which could impact future operations and market conditions.
- Despite strong inquiry levels, the overall order activity for the trailing 12 months was below typical replacement demand.
- FreightCar America Inc (RAIL) anticipates lower deliveries and revenue in the first quarter of 2025 due to production line changes.
Greetings, and welcome to FreightCar America's Fourth Quarter and Full Year 2024 Earnings Conference Call. (Operator Instructions) Please note, this conference is being recorded. An audio replay of the conference will be available on the company's website within a few hours after this call.
I would now like to turn the call over to Chris Odeh with Riveron Investor Relations. Please go ahead.
Thank you, and welcome. Joining me today are Nick Randall, President and Chief Executive Officer; Mike Riordan, Chief Financial Officer; Matt Tonn, Chief Commercial Officer. I'd like to remind everyone that statements made during this conference call related to the company's expected future performance, future business prospects or future events or plans may include forward-looking statements as defined under the Private Securities Litigation Reform 1995.
Participants are directed to FreightCar America's Form 10-K for a description of certain business risks, some of which may be outside of the
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