<SEC-DOCUMENT>0001171843-20-005799.txt : 20200811
<SEC-HEADER>0001171843-20-005799.hdr.sgml : 20200811
<ACCEPTANCE-DATETIME>20200810191511
ACCESSION NUMBER:		0001171843-20-005799
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20200810
ITEM INFORMATION:		Results of Operations and Financial Condition
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20200811
DATE AS OF CHANGE:		20200810

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			FreightCar America, Inc.
		CENTRAL INDEX KEY:			0001320854
		STANDARD INDUSTRIAL CLASSIFICATION:	RAILROAD EQUIPMENT [3743]
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-51237
		FILM NUMBER:		201090749

	BUSINESS ADDRESS:	
		STREET 1:		125 SOUTH WACKER DRIVE
		STREET 2:		SUITE 1500
		CITY:			CHICAGO
		STATE:			IL
		ZIP:			60606
		BUSINESS PHONE:		(800) 458-2235

	MAIL ADDRESS:	
		STREET 1:		125 SOUTH WACKER DRIVE
		STREET 2:		SUITE 1500
		CITY:			CHICAGO
		STATE:			IL
		ZIP:			60606

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	FCA Acquisition Corp.
		DATE OF NAME CHANGE:	20050316
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>f8k_081020.htm
<DESCRIPTION>FORM 8-K
<TEXT>
<html><head><title></title></head><body><div style="margin-top: 3pt; margin-bottom: 12pt;"><div style="font-size: 1pt; border-top: Black 2.5pt solid; border-bottom: Black 1.1pt solid; width: 100%;"><font style="font-size: 10pt;">&#160;</font></div></div><p style="text-align: center;"><font style="font-size: 14pt;"><strong>UNITED STATES</strong><br /><strong>SECURITIES AND EXCHANGE COMMISSION</strong><br /><strong>Washington, D.C. 20549</strong><br />_____________________</font></p><p style="text-transform: uppercase; text-align: center;"><font style="font-size: 14pt;"><strong>Form 8-K</strong><br />_____________________</font></p><p style="text-align: center;"><font style="font-size: 12pt;"><strong>CURRENT REPORT</strong></font></p><p style="text-align: center;"><font style="font-size: 12pt;"><strong>Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934</strong></font></p><p align="center"><font style="font-size: 10pt;">Date of Report (Date of earliest event Reported): <!--August 10, 2020-->August 10, 2020 &#160;</font></p><p align="center"><font style="font-size: 12pt;"><strong>FREIGHTCAR AMERICA, INC.</strong></font><br /><font style="font-size: 10pt;">(Exact Name of Registrant as Specified in Charter)</font></p><table style="width: 100%;" border="0" cellspacing="0" cellpadding="0"><tr valign="top"><td align="center" width="33%"><font style="font-size: 10pt;"><strong>Delaware</strong></font></td><td align="center" width="34%"><font style="font-size: 10pt;"><strong>000-51237</strong></font></td><td align="center" width="33%"><font style="font-size: 10pt;"><strong>25-1837219</strong></font></td></tr><tr valign="top"><td align="center" width="33%"><font style="font-size: 10pt;">(State or Other Jurisdiction of Incorporation)</font></td><td align="center" width="34%"><font style="font-size: 10pt;">(Commission File Number)</font></td><td align="center" width="33%"><font style="font-size: 10pt;">(I.R.S. 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[&#160;&#160; ]<strong>&#160;</strong></p><div style="margin-top: 12pt; margin-bottom: 3pt;"><div style="font-size: 1pt; border-top: Black 1.1pt solid; border-bottom: Black 2.5pt solid; width: 100%;"><font style="font-size: 10pt;">&#160;</font></div>&#160;</div><hr style="page-break-after: always;" noshade="noshade" /><p><font style="font-size: 10pt;">  <strong>Section 2 Financial Information</strong></font></p><p><font style="font-size: 10pt;"><strong>Item 2.02. Results of Operations and Financial Condition.</strong></font></p><p><font style="font-size: 10pt;">
 <p>On August 10, 2020, FreightCar America, Inc. issued a press release announcing its financial results for the second quarter of 2020. A copy of the press release is attached hereto as Exhibit 99.1 and is incorporated herein by reference.</p>   <p>The information contained in Exhibit 99.1 is being furnished under Item 2.02 of Form 8-K and shall not be deemed &#8220;filed&#8221; for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the &#8220;Exchange Act&#8221;), or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as expressly set forth by specific reference in such a filing.</p> </font></p><p><font style="font-size: 10pt;"><strong>Section 9 Financial Statements and Exhibits</strong></font></p><p><font style="font-size: 10pt;"><strong>Item 9.01. Financial Statements and Exhibits.</strong></font></p><p><font style="font-size: 10pt;">
 <p><font style="font-size:10pt;">(d) Exhibits</font><br /> <br /><font style="font-size:10pt;"><font style="font-size:10pt;"><a href="exh_991.htm" rel="nofollow">Exhibit 99.1 Press release of FreightCar America, Inc., dated August 10, 2020.</a></font></font></p> </font></p><p><font style="font-size: 10pt;"></font></p><p><font style="font-size: 10pt;"></font></p><hr style="page-break-after: always;" noshade="noshade" /><p align="center"><font style="font-size: 10pt;"><strong>SIGNATURE</strong></font></p><p><font style="font-size: 10pt;">Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.</font></p><table style="width: 100%;" border="0" cellspacing="0" cellpadding="0"><tr valign="top"><td valign="top" width="49%"><font style="font-size: 10pt;">&#160;</font></td><td style="font-size: 12pt;" colspan="2" valign="top"><font style="font-size: 10pt;"><strong>FREIGHTCAR AMERICA, INC.</strong></font></td></tr><tr valign="top"><td width="49%"><font style="font-size: 10pt;">&#160;</font></td><td width="2%"><font style="font-size: 10pt;">&#160;</font></td><td width="49%"><font style="font-size: 10pt;">&#160;</font></td></tr><tr valign="top"><td width="49%"><font style="font-size: 10pt;">&#160;</font></td><td width="2%"><font style="font-size: 10pt;">&#160;</font></td><td width="49%"><font style="font-size: 10pt;"></font></td></tr><tr valign="top"><td width="49%"><font style="font-size: 10pt;">Date: August 10, 2020</font></td><td width="2%"><font style="font-size: 10pt;">By:&#160;</font></td><td style="text-decoration: underline;" width="49%"><font style="font-size: 10pt;">/s/ Christopher J. Eppel&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</font></td></tr><tr valign="top"><td width="49%"><font style="font-size: 10pt;">&#160;</font></td><td width="2%"><font style="font-size: 10pt;">&#160;</font></td><td width="49%"><font style="font-size: 10pt;">Christopher J. Eppel</font></td></tr><tr valign="top"><td width="49%"><font style="font-size: 10pt;">&#160;</font></td><td width="2%"><font style="font-size: 10pt;">&#160;</font></td><td width="49%"><font style="font-size: 10pt;">Vice President, Finance, Chief Financial Officer and Treasurer</font></td></tr><tr valign="top"><td width="49%"><font style="font-size: 10pt;">&#160;</font></td><td width="2%"><font style="font-size: 10pt;">&#160;</font></td><td width="49%"><font style="font-size: 10pt;"></font></td></tr></table><p>
 <hr noshade="noshade" style="page-break-after: always;" />   <p align="center"><font style="font-size:10pt;"><strong>EXHIBIT INDEX</strong></font></p>   <p align="center" style="text-align: center;"><font style="font-size:10pt;">&#160;</font></p>  <table style="border-collapse:collapse !important;;border-collapse: collapse; "><tr><td style="vertical-align: bottom ; "><font style="font-size:10pt;"><strong>Exhibit Number</strong></font></td><td class="hugin"><font style="font-size:10pt;">&#160;</font></td><td style="vertical-align: bottom ; "><font style="font-size:10pt;"><strong>Description</strong></font></td></tr><tr><td class="hugin"><font style="font-size:10pt;">&#160;</font></td><td class="hugin"><font style="font-size:10pt;">&#160;</font></td><td class="hugin"><font style="font-size:10pt;">&#160;</font></td></tr><tr><td class="hugin"><font style="font-size:10pt;"><font style="font-size:10pt;"><font style="font-size:10pt;"><a href="exh_991.htm" rel="nofollow">Exhibit 99.1</a></font></font></font></td><td class="hugin"><font style="font-size:10pt;">&#160;</font></td><td class="hugin"><font style="font-size:10pt;"><font style="font-size:10pt;"><font style="font-size:10pt;"><a href="exh_991.htm" rel="nofollow">Press release of FreightCar America, Inc., dated August 10, 2020.</a></font></font> </font></td></tr></table></p></body></html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>exh_991.htm
<DESCRIPTION>PRESS RELEASE
<TEXT>
<!DOCTYPE HTML PUBLIC "-//W3C//DTD HTML 4.0 Transitional//EN"><html lang="en-US"><head><title>EdgarFiling</title><meta content="text/html; charset=windows-1252" ><meta name="GENERATOR" content="MSHTML 8.00.7601.18094" ></head><body bgcolor="#ffffff"><p style="text-align: right;"><strong>EXHIBIT 99.1</strong></p><p style="text-align: center;"><font style="font-size: 14pt;"><strong>FreightCar America, Inc. Reports Second Quarter 2020 Results</strong></font></p><p style="text-align: center;"><strong></strong></p><p>
 <p align="center"><em>Provides second half fiscal 2020 outlook to deliver 750 to 1,000 railcars</em><br ></p>  <p align="center"><em>Announces start of production at the Casta&#241;os, Mexico joint venture plant</em></p>  <p>CHICAGO, Aug.  10, 2020  (GLOBE NEWSWIRE) -- FreightCar America, Inc. (NASDAQ: RAIL) today reported results for the second quarter ended June 30, 2020.</p>  <p><strong>Business Highlights</strong></p>  <ul type="disc"><li>Second quarter revenue of $17.5 million on deliveries of 100 railcars</li><li>Second quarter net loss of $12.8 million, or $0.97 per share</li><li>Total cash, cash equivalents, restricted cash equivalents, marketable securities and restricted certificates of deposit of $52.4 million as of June 30, 2020</li><li>Second quarter backlog totaled 1,839 railcars, with an aggregate value of approximately $207 million</li><li>Started production at Casta&#241;os, Mexico joint venture facility in July</li><li>Second half 2020 delivery outlook forecasted to range between 750 and 1,000 railcars</li><li>Company continues to prioritize employee and community safety, and is strictly adhering to pre-established health and safety protocols including those necessary in response to the global pandemic</li></ul>  <p align="justify">&#8220;During the second quarter, FreightCar America restarted two of the four production lines in Shoals, and managed through the disruption brought on by the global COVID-19 pandemic. I am very proud of how our team responded, as we focused equally on health, safety and meeting customer expectations,&#8221; said Jim Meyer, President and Chief Executive Officer of FreightCar America. &#8220;In addition to these important undertakings, we continued to move forward with our vision to become the highest quality and lowest cost producer. In July, we started production at the new joint venture plant in Casta&#241;os, Mexico along with preparation for the certification process. We were able to hire an extremely experienced workforce and are happy to welcome them to the team.&#8221;</p>  <p align="justify">Meyer added, &#8220;The pandemic-related disruption further contributed to a difficult demand environment across our industry, which was already in the midst of a cyclical downtown. This further challenged both railcar orders and production scheduling during the second quarter.&#160; Of note, we had one additional week of operational downtime in our Shoals facility in the quarter as we halted production to protect the health and safety of our workforce. And while the recovery pattern remains opaque, we are encouraged by the recent improvement in order inquiries for car types that we are well suited to build.&#8221;</p>  <p align="justify">Meyer concluded, &#8220;Our overall production ramped well through July, giving us confidence in our forecast for second half deliveries to range between 750 and 1,000 railcars. As we look forward, we remain equally focused on preserving our liquidity while also continuing to build the foundation for our future. We believe we are taking the right steps to navigate both the cyclical downturn and pandemic, while repositioning FreightCar America for future success.&#8221;</p>  <p><strong>Second Quarter Results</strong></p>  <ul type="disc"><li>Consolidated revenues were $17.5 million in the second quarter of 2020, compared to $5.2 million in the first quarter of 2020 and $73.6 million in the second quarter of 2019. The Company delivered 100 railcars in the second quarter of 2020, compared to 11 in the first quarter of 2020 and 729 railcars in the second quarter of 2019.<br ><br ></li><li>The Company had a backlog totaling 1,839 railcars on June 30, 2020, valued at approximately $207 million.<br ><br ></li><li>Consolidated operating loss for the second quarter of 2020 was $12.9 million, compared to an operating loss of $15.8 million for the second quarter of 2019.<br ><br ></li><li>Net loss attributable to FreightCar America, Inc. 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Investors, analysts, and members of the media interested in listening to the live presentation are encouraged to join a webcast of the call, available on the Company&#8217;s website at:</p>  <p>Event URL: <strong><u>http://public.viavid.com/index.php?id=141184</u></strong></p>  <p>Interested parties may also participate in the call by dialing 877-407-0789 or 201-689-8562 and should use confirmation number 13708161.&#160; Please dial in approximately 10 to 15 minutes prior to the start time of the call to ensure your participation. An audio replay of the conference call will be available beginning at 2:00 p.m. (Eastern Daylight Time) on August 11, 2020 until 11:59 p.m. (Eastern Daylight Time) on August 25, 2020.&#160; To access the replay, please dial 844-512-2921 or 412-317-6671.&#160; The replay pass code is 13708161.&#160; An audio replay of the call will be available on the Company&#8217;s website within two days following the earnings call.</p>  <p><strong>About FreightCar America</strong></p>  <p>FreightCar America, Inc. is a diversified manufacturer of railroad freight cars, that also supplies railcar parts and leases freight cars through its FreightCar America Leasing Company subsidiaries. FreightCar America designs and builds high-quality railcars, including open top hopper cars, covered hopper cars, intermodal and non-intermodal flat cars, mill gondola cars, coil steel cars, boxcars, coal cars, and also specializes in the conversion of railcars for repurposed use. It is headquartered in Chicago, Illinois and has facilities in the following locations: Cherokee, Alabama; Casta&#241;os, Mexico; Johnstown, Pennsylvania; and Shanghai, People&#8217;s Republic of China. More information about FreightCar America is available on its website at www.freightcaramerica.com.</p>  <p><strong>Forward-Looking Statements</strong></p>  <p align="justify">This press release may contain statements relating to our expected financial performance and/or future business prospects, events and plans that are &#8220;forward-looking statements&#8221; as defined under the Private Securities Litigation Reform Act of 1995. Forward-looking statements represent our estimates and assumptions only as of the date of this press release. Our actual results may differ materially from the results described in or anticipated by our forward-looking statements due to certain risks and uncertainties. These potential risks and uncertainties include, among other things: risks relating to the potential financial and operational impacts of the COVID-19 pandemic; the Shoals facility, including the facility not meeting internal assumptions or expectations and unforeseen liabilities from Navistar; the cyclical nature of our business; adverse economic and market conditions; fluctuating costs of raw materials, including steel and aluminum, and delays in the delivery of raw materials; our ability to maintain relationships with our suppliers of railcar components; our reliance upon a small number of customers that represent a large percentage of our sales; the variable purchase patterns of our customers and the timing of completion, delivery and customer acceptance of orders; the highly competitive nature of our industry; the risk of lack of acceptance of our new railcar offerings by our customers; and other competitive factors. 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">)</td><td style="vertical-align: bottom ; ">&#160;</td><td style="vertical-align: bottom ; ">&#160;</td><td style="padding-right: 0 ; text-align: right ;  vertical-align: middle; vertical-align: bottom ; ">(2,307</td><td style="padding-left: 0 ; text-align: left ;  vertical-align: middle; vertical-align: bottom ; ">)</td></tr><tr><td style="vertical-align: middle;   text-align: left;   padding-left: 25.0px; vertical-align: bottom ; ">Accounts and contractual payables</td><td style="vertical-align: bottom ; ">&#160;</td><td style="padding-right: 0 ; text-align: right ;  vertical-align: middle; vertical-align: bottom ; ">6,456</td><td style="padding-left: 0 ; text-align: left ;  vertical-align: middle; vertical-align: bottom ; ">&#160;</td><td style="vertical-align: bottom ; ">&#160;</td><td style="vertical-align: bottom ; ">&#160;</td><td style="padding-right: 0 ; text-align: right ;  vertical-align: middle; vertical-align: bottom ; ">(4,890</td><td style="padding-left: 0 ; text-align: left ; 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">TELEPHONE</td><td style="vertical-align: bottom ; ">312-445-2870</td></tr></table></p><p ></p></body></html>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
