FreightCar America Sees Q3 Revenue Of $75M-$77M, Down From $160.5M YoY, Adj. EBITDA Of $(0.3M) - $0.3M From $17M YoY; Cuts 2026 Revenue Outlook From $410M-$460M To $370M-$410M, Adjusted EBITDA From $36M-$44M To $15M-$19M, And Deliveries From 3,500–3,900 To 3,100–3,300 Railcars

Tank Car Retrofit Order Removed from Full-Year Outlook and Backlog

Full-Year 2026 Outlook Revised Across Railcar Deliveries, Revenue and Adjusted EBITDA

Full Third Quarter 2026 Results to Be Released on Monday, November 9, 2026, with Conference Call on Tuesday, November 10, 2026 at 11:00 a.m. ET

CHICAGO, Oct. 19, 2026 (GLOBE NEWSWIRE) — FreightCar America, Inc. (NASDAQ:RAIL) (“FreightCar America” or the “Company”), a diversified manufacturer and supplier of railroad freight cars, railcar parts and components, today updated its outlook for fiscal year 2026 and reported preliminary results for the third quarter ended September 30, 2026.

Tank Car Retrofit Order

The Company has elected to remove 1,285 railcars related to its tank car retrofit order from its backlog because the Company believes that the customer in question is unlikely to be able to meet its obligations under the associated customer contract. The order was to begin delivery in the second half of 2026 and continue through 2027. The updated 2026 outlook announced today excludes the railcars related to this order that had been scheduled to be delivered in 2026. No other orders in the Company’s backlog are affected. After this removal, backlog as of September 30, 2026 was 2,660 units valued at $284.5 million.

Preliminary Third Quarter 2026 Results

• Railcar deliveries of 662 units, compared to 1,304 units in the third quarter of 2025
• Revenue of $75 million to $77 million, compared to $160.5 million in the third quarter of 2025
• Adjusted EBITDA of $(0.3) million to $0.3 million, compared to $17.0 million in the third quarter of 2025
• Backlog of 2,660 units valued at $284.5 million as of September 30, 2026

These preliminary figures are unaudited and subject to the completion of the Company’s quarter-end closing procedures.

“We have elected to remove the customer’s contractually committed tank car retrofit order from our reported backlog in full,” said Nick Randall, President and Chief Executive Officer of FreightCar America. “The removal covers all deliveries scheduled for 2026 and 2027. Our updated 2026 outlook excludes the associated deliveries and reflects our current operating forecast. This adjustment is specific to one customer order. Our remaining backlog continues to be supported by firm customer commitments, and no other orders are affected by this adjustment.”

Randall continued, “Our commitment to the tank car retrofit market remains unchanged. We continue to focus on the railcar types where we have a proven record and continue to gain share, while growing our aftermarket business. Our flexible operating model positions us to execute on our remaining backlog and respond as industry demand improves. We look forward to discussing our commercial progress and strategic priorities on our upcoming earnings call.”

Updated Fiscal Year 2026 Outlook

The Company has updated its outlook for fiscal year 2026 as follows:

Updated Fiscal 2026 Outlook	Prior Fiscal 2026 Outlook (August 3, 2026)
Railcar Deliveries	3,100 – 3,300 railcars	3,500 – 3,900 railcars
Revenue	$370 – $410 million	$410 – $460 million
Adjusted EBITDA1	$15 – $19 million	$36 – $44 million

1. The Company does not provide a reconciliation of forward-looking Adjusted EBITDA guidance due to the inherent difficulty in forecasting and quantifying adjustments necessary to calculate such non-GAAP measure without unreasonable effort. Material changes to such adjustments, including warrant liability and non-core operating items, could affect future GAAP results.

Mike Riordan, Chief Financial Officer of FreightCar America, added, “While our updated outlook excludes the tank car retrofit order, we are confident in our ability to execute on our strategic priorities. With a lower cost base in place, we are positioned to deliver stronger results as our backlog converts into deliveries in 2027, along with continued growth in our aftermarket business.”

The Company expects to report its full third quarter 2026 financial results on Monday, November 9, 2026 after the market close and to host its regularly scheduled conference call on Tuesday, November 10, 2026 at 11:00 a.m. (Eastern Time). Details will be provided in a separate announcement.