FreightCar America Inc
For the period ended Mar 31, 2024. Filed May 8, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Mar 31, 2024 · Filed May 8, 2024
RAIL$4.24+2.2%Stored close · as of Nov 6, 2026
Contents
Condensed Consolidated Balance Sheets (Unaudited) as ofMarch 31, 2024 and December 31, 2023
(In thousands, except for share data)
| March 31,2024 | December 31,2023 | |
|---|---|---|
| Assets | ||
| Current assets | ||
| Cash, cash equivalents and restricted cash equivalents | $13,977 | $40,560 |
| Accounts receivable, net of allowance for doubtful accounts of $82 and $18 respectively | 35,040 | 6,408 |
| VAT receivable | 3,959 | 2,926 |
| Inventories, net | 109,778 | 125,022 |
| Assets held for sale | 629 | — |
| Related party asset | 902 | 638 |
| Prepaid expenses | 6,533 | 4,867 |
| Total current assets | 170,818 | 180,421 |
| Property, plant and equipment, net | 30,673 | 31,258 |
| Railcars available for lease, net | — | 2,842 |
| Right of use asset operating lease | 2,724 | 2,826 |
| Right of use asset finance lease | 39,676 | 40,277 |
| Other long-term assets | 4,778 | 1,835 |
| Total assets | $248,669 | $259,459 |
| Liabilities, Mezzanine Equity and Stockholders’ Deficit | ||
| Current liabilities | ||
| Accounts and contractual payables | $75,918 | $84,417 |
| Related party accounts payable | 2,394 | 2,478 |
| Accrued payroll and other employee costs | 4,975 | 5,738 |
| Accrued warranty | 1,468 | 1,602 |
| Current portion of long-term debt | 30,002 | 29,415 |
| Other current liabilities | 7,309 | 13,711 |
| Total current liabilities | 122,066 | 137,361 |
| Warrant liability | 52,454 | 36,801 |
| Accrued pension costs | 1,106 | 1,046 |
| Lease liability operating lease, long-term | 3,038 | 3,164 |
| Lease liability finance lease, long-term | 41,084 | 41,273 |
| Other long-term liabilities | 2,278 | 2,562 |
| Total liabilities | 222,026 | 222,207 |
| Commitments and contingencies | ||
| Mezzanine equity | ||
| Series C Preferred stock, $0.01 par value, 85,412 shares authorized, 85,412 shares issued and outstanding at each of March 31, 2024 and December 31, 2023, respectively. Liquidation value $99,285 and $95,048 at March 31, 2024 and December 31, 2023, respectively. | 83,602 | 83,458 |
| Stockholders’ deficit | ||
| Preferred stock, $0.01 par value, 2,500,000 shares authorized (100,000 shares each designated as Series A voting and Series B non-voting, 0 shares issued and outstanding at March 31, 2024 and December 31, 2023) | — | — |
| Common stock, $0.01 par value, 50,000,000 shares authorized, 18,345,488 and 17,903,437 shares issued and outstanding at March 31, 2024 and December 31, 2023, respectively | 214 | 210 |
| Additional paid-in capital | 94,783 | 94,067 |
| Accumulated other comprehensive income | 2,607 | 2,365 |
| Accumulated deficit | (154,563) | (142,848) |
| Total stockholders' deficit | (56,959) | (46,206) |
| Total liabilities, mezzanine equity and stockholders’ deficit | $248,669 | $259,459 |
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