FreightCar America gains on raising railcar delivery forecast, Q4 profit

Freightcar America

22/03/2022 12:09

** Shares in railcars maker  RAIL.O  up ~13% at $4.94
pre-market, a three-month high, after co raises 2022 railcars
delivery forecast and posts Q4 profit from year-ago loss
    ** Co raises delivery expectation to between 2,600 and 2,900
railcars, from previous forecast of between 2,350 and 2,650
 urn:newsml:reuters.com:*:nL5N2VP35O
    ** Reports Q4 net income of $1.2 mln, or 6 cents/shr,
compared to net loss of $14.4 mln, or 87 cents/shr, a year ago
    ** RAIL's Q4 revenue rose 23.8% to $75 mln and delivered 604
railcars, compared to 505 railcars a year ago
    ** CEO Jim Meyer adds co on track to double its annual
railcar production capacity to between 4,000 and 5,000 during
2023  urn:newsml:reuters.com:*:nGNX4q82M8
    ** He says co expects it to be well timed with an increase
in railcar demand cycle
    ** Up to Monday's close, stock had risen ~18% YTD
    

 (Reporting by Ananya Mariam Rajesh in Bengaluru)
 ((AnanyaMariam.Rajesh@thomsonreuters.com))