FreightCar America Inc
For the period ended Jun 30, 2024. Filed Aug 12, 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.
Jun 30, 2024 · Filed Aug 12, 2024
RAIL$4.24+2.2%Stored close · as of Nov 6, 2026
Contents
Condensed Consolidated Balance Sheets (Unaudited) as ofJune 30, 2024 and December 31, 2023
| June 30,2024 | December 31,2023 | |
|---|---|---|
| Assets | ||
| Current assets | ||
| Cash, cash equivalents and restricted cash equivalents | $39,370 | $40,560 |
| Accounts receivable, net of allowance for doubtful accounts of $88 and $18 respectively | 12,815 | 6,408 |
| VAT receivable | 2,895 | 2,926 |
| Inventories, net | 64,479 | 125,022 |
| Assets held for sale | 629 | — |
| Related party asset | 1,010 | 638 |
| Prepaid expenses | 5,915 | 4,867 |
| Total current assets | 127,113 | 180,421 |
| Property, plant and equipment, net | 30,489 | 31,258 |
| Railcars available for lease, net | — | 2,842 |
| Right of use asset operating lease | 2,620 | 2,826 |
| Right of use asset finance lease | 44,507 | 40,277 |
| Other long-term assets | 2,492 | 1,835 |
| Total assets | $207,221 | $259,459 |
| Liabilities, Mezzanine Equity and Stockholders’ Deficit | ||
| Current liabilities | ||
| Accounts and contractual payables | $45,102 | $84,417 |
| Related party accounts payable | 1,083 | 2,478 |
| Accrued payroll and other employee costs | 5,255 | 5,738 |
| Accrued warranty | 1,361 | 1,602 |
| Customer deposits | 8,709 | — |
| Current portion of long-term debt | — | 29,415 |
| Other current liabilities | 6,616 | 13,711 |
| Total current liabilities | 68,126 | 137,361 |
| Warrant liability | 52,342 | 36,801 |
| Accrued pension costs | 1,165 | 1,046 |
| Lease liability operating lease, long-term | 2,909 | 3,164 |
| Lease liability finance lease, long-term | 45,747 | 41,273 |
| Other long-term liabilities | 2,016 | 2,562 |
| Total liabilities | 172,305 | 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 June 30, 2024 and December 31, 2023, respectively. Liquidation value $103,712 and $95,048 at June 30, 2024 and December 31, 2023, respectively. | 83,745 | 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 June 30, 2024 and December 31, 2023) | — | — |
| Common stock, $0.01 par value, 50,000,000 shares authorized, 18,873,850 and 17,903,437 shares issued and outstanding at June 30, 2024 and December 31, 2023, respectively | 220 | 210 |
| Additional paid-in capital | 96,312 | 94,067 |
| Accumulated other comprehensive income | 1,168 | 2,365 |
| Accumulated deficit | (146,529) | (142,848) |
| Total stockholders’ deficit | (48,829) | (46,206) |
| Total liabilities, mezzanine equity and stockholders’ deficit | $207,221 | $259,459 |
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