FreightCar America sputters after results miss expectations

Freightcar America

17/05/2021 15:24

** FreightCar America  RAIL.O  shares down 17.5% at $5.31
after co's qtrly results miss estimates
    ** Co posts Q1 rev of $32.4 mln, up 523% yr/yr, on
deliveries of 309 railcars  urn:newsml:reuters.com:*:nGNX1Hg7q3
    ** Street consensus for rev was $38.2 mln based on estimates
of 2 analysts, per Refinitiv data, while adj loss/sh of 48 cents
wider than loss of 26 cents expected
    ** Co says seeing early benefits moving manufacturing to
Castaños, Mexico, and encouraged by signs of momentum building
across end-markets it serves
    ** RAIL raises 2021 delivery outlook to 1,600-1,750
railcars, up from 1,400-1,600
    ** Even with decline on Mon, RAIL shares up >120% YTD

 (Lance Tupper is a Reuters market analyst. The views expressed
are his own)
 ((lance.tupper.tr.com@reuters.net
lance.tupper@tr.com 1-332-219-1430))