FreightCar America, Inc. cut its 2026 delivery, revenue and adjusted EBITDA forecasts after removing a 1,285-car tank car retrofit order from its backlog, as preliminary third-quarter figures showed a sharp drop in sales.
The Chicago-based railcar maker said it considers the customer unlikely to carry out its contractual obligations. The delivery schedule covered the second half of 2026 and extended into 2027. Its revised outlook excludes the affected cars previously due this year.
FreightCar America now expects to deliver 3,100 to 3,300 railcars in 2026, down from the 3,500 to 3,900 projected Aug. 3. It lowered its revenue forecast to $370 million to $410 million from $410 million to $460 million. Its adjusted EBITDA forecast fell to $15 million to $19 million from $36 million to $44 million. Adjusted EBITDA is a non-GAAP financial measure.
After the order was removed, the company’s backlog stood at 2,660 railcars valued at $284.5 million as of Sept. 30. FreightCar America said the change was confined to that order.
Preliminary third-quarter deliveries totaled 662 railcars, compared with 1,304 a year earlier. Revenue was $75 million to $77 million, down from $160.5 million. Adjusted EBITDA was negative $0.3 million to positive $0.3 million, compared with $17 million in the third quarter of 2025. The preliminary figures could change when the company completes its closing and review.
The order’s removal follows an earlier production delay. In August, FreightCar America linked a later production ramp to customers’ delivery schedules. It said the delay left fewer cars in production over which to spread fixed costs and shifted some planned 2026 deliveries into early 2027.
Chief Financial Officer Mike Riordan pointed to lower costs, deliveries from the remaining backlog in 2027 and growth in the aftermarket business as reasons he expects stronger results. FreightCar America also supplies railcar parts and offers repair and conversion services.
The company expects to release full third-quarter results after the market closes Nov. 9 and hold a conference call at 11 a.m. ET on Nov. 10.
