The 10-second takeaway
For the quarter ended March 31 (Q1), FreightCar America whiffed on revenues and missed expectations on earnings per share.
Compared to the prior-year quarter, revenue dropped significantly. Non-GAAP earnings per share dropped to a loss. GAAP earnings per share shrank to a loss.
Margins dropped across the board.
FreightCar America reported revenue of $87.6 million. The five analysts polled by S&P Capital IQ predicted sales of $112.3 million on the same basis. GAAP reported sales were 60% lower than the prior-year quarter's $219.1 million.
Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.
EPS came in at -$0.18. The eight earnings estimates compiled by S&P Capital IQ anticipated $0.06 per share. Non-GAAP EPS were -$0.18 for Q1 against $0.81 per share for the prior-year quarter. GAAP EPS were -$0.22 for Q1 compared to $0.81 per share for the prior-year quarter.
Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.
For the quarter, gross margin was 5.7%, 510 basis points worse than the prior-year quarter. Operating margin was 0.6%, 630 basis points worse than the prior-year quarter. Net margin was -3.0%, 740 basis points worse than the prior-year quarter. (Margins calculated in GAAP terms.)
The stock has a four-star rating (out of five) at Motley Fool CAPS, with 738 members out of 780 rating the stock outperform, and 42 members rating it underperform. Among 199 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 190 give FreightCar America a green thumbs-up, and nine give it a red thumbs-down.
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