FreightCar America

CN Receiving Next-Gen Ore Jennies (Updated)

CN is taking delivery on 600 new 1,150-cubic-foot iron ore hopper cars, colloquially called “jennies,” from FreightCar America. The new equipment, described as “a significant upgrade to CN’s fleet,” incorporates materials from

FreightCar America Castaños, Mexico manufacturing facility.

FreightCar America: ‘Solid Results’ for 4Q23; Randall Named New CEO

FreightCar America (FCA) delivered solid results for fourth-quarter 2023 with gross profit up 62% on significant year-over-year margin expansion, President and CEO Jim Meyer said during a March 18 earnings report, also announcing that Chief Operating Officer Nick Randall, effective May 1, 2024, will succeed Meyer as President and CEO and become a member of the company’s Board of Directors.

FreightCar America Castaños, Mexico manufacturing facility.

FreightCar America 3Q23: Improved Performance Despite ‘Unique Challenges’

“Our results this quarter underscore the power of disciplined commercial decision making combined with running the most efficient manufacturing operation in the industry. While the third quarter presented unique challenges for FreightCar America (FCA), including the disruptive impacts of the migrant issue and subsequent rail service interruption, we continued to improve the quality of our performance,” said President and CEO Jim Meyer during a Nov. 6 earnings report.

Nicholas J. Randall, COO, FreightCar America (left); and Rahul Jalali, Executive Vice President, UP (right).

People News: FreightCar America, UP

FreightCar America, Inc. (FreightCar America) appoints Nicholas J. Randall as Chief Operating Officer. Also, Union Pacific (UP) promotes Chief Information Officer Rahul Jalali to Executive Vice President.

In 2022, FCA reported revenues of $364.8 million, up 79.6% from 2021’s $203 million, on deliveries of 3,184 railcars, up 83.9% from 2021’s 1,731 railcar deliveries.

For FCA, ‘Another Strong Year of Transformation’ (Updated March 31)

While FreightCar America (FCA) finished “strong” in 2022, ramping up operations in Castaños, Mexico, and delivering 3,184 railcars, the carbuilder in the fourth quarter “continued to experience margin pressure, primarily due to supply chain issues,” President and CEO Jim Meyer said during a March 27 financial report. “These dynamics will be with us through the first quarter of this year, after which we expect to see further improvement in our financial performance.”

FCA said it expected its new Castaños, Mexico, facility to deliver 3,000-3,200 railcars in 2022.

FCA: 3Q22 Financial Results ‘Muted,’ 2022 Outlook ‘Reaffirmed’

While FreightCar America (FCA) “delivered another quarter of strong top-line growth” and produced “another record number of railcars at the Castaños facility,” third-quarter 2022 “financial results were muted by the combined impacts of delivering lower margin orders accepted at the bottom of the cycle and elevated freight costs,” FCA President and CEO Jim Meyer reported on Nov. 7.