FreightCar America anticipates challenging headwinds
FreightCar America (NASDAQ: RAIL ) is starting to ramp up railcar production, but its executives warned that the company could see an extended downturn that includes high volumes of railcars in storage. "We are planning for a prolonged, deep down cycle, and one that requires us to make adjustments to both the direction and speed to what we have focused on over the past couple of years," said FreightCar America President and CEO Jim Meyer during the company's first-quarter earnings call on Monday. Meyer also said operations are "returning to light but meaningful production" at its Shoals facility in Alabama, with two out of four production lines already in service. A third line is in the early stages of starting up, he said. FreightCar America hasn't received any cancellation requests for ordered railcars, although the company won't be building any new railcars if there isn't a firm order behind them, Meyer said. The company is also proceeding with plans to build a manufacturing plant in Castaños, Mexico .
FreightCar America anticipates challenging headwinds
FreightCar America (NASDAQ: RAIL ) is starting to ramp up railcar production, but its executives warned that the company could see an extended downturn that includes high volumes of railcars in storage. "We are planning for a prolonged, deep down cycle, and one that requires us to make adjustments to both the direction and speed to what we have focused on over the past couple of years," said FreightCar America President and CEO Jim Meyer during the company's first-quarter earnings call on Monday. Meyer also said operations are "returning to light but meaningful production" at its Shoals facility in Alabama, with two out of four production lines already in service. A third line is in the early stages of starting up, he said. FreightCar America hasn't received any cancellation requests for ordered railcars, although the company won't be building any new railcars if there isn't a firm order behind them, Meyer said. The company is also proceeding with plans to build a manufacturing plant in Castaños, Mexico .