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FreightCar America, Inc. (NASDAQ:RAIL), a manufacturer of railroad freight cars trading at $7.54, disclosed the results of its Annual Meeting of Stockholders held on May 14, 2025. According to InvestingPro analysis, the company appears undervalued despite showing strong momentum with a 108% return over the past year. The company announced the outcomes of three proposals that were voted on during the meeting.
The first proposal was the election of Class II directors to serve a three-year term. Jesús Salvador Gil Benavides received 11,304,384 votes for and 878,956 withheld, with 3,480,529 broker non-votes. Rodger L. Boehm garnered 11,707,660 votes for, 475,680 withheld, and the same number of broker non-votes.
In the second proposal, the stockholders approved, on an advisory basis, the compensation of the company’s named executive officers as disclosed in the definitive proxy statement filed on April 3, 2025. The vote count was 11,780,285 for, 367,658 against, 35,635 abstentions, and 3,480,529 broker non-votes. While the company reported a revenue of $494.66 million in the last twelve months, InvestingPro analysts expect positive net income growth this year, with earnings per share forecast at $0.86 for 2025.
The third proposal involved the ratification of the appointment of Grant Thornton LLP as the company’s independent registered public accounting firm for the fiscal year 2025. This proposal received a significant majority with 15,626,022 votes for, 26,037 against, and 12,048 abstentions, with no broker non-votes.
The filing with the U.S. Securities and Exchange Commission on May 19, 2025, confirms these results. The company’s management, including Vice President, General Counsel & Corporate Secretary Celia R. Perez, was authorized to sign the report on behalf of FreightCar America, as required by the Securities Exchange Act of 1934. The detailed results of the stockholder vote serve to guide the company’s governance and executive compensation practices for the upcoming year.
In other recent news, FreightCar America disclosed its Q1 2025 earnings, which fell short of analyst expectations. The company reported an earnings per share (EPS) of $0.05, missing the forecasted $0.11, and revenue of $96.3 million, which was below the expected $125.18 million. Despite these results, FreightCar America saw a notable increase in its gross profit margin, which rose to 14.9% from 7.1% in the previous year. The company also reported adjusted EBITDA of $7.3 million, up from $6.1 million in Q1 2024.
FreightCar America anticipates a significant production ramp-up in the latter half of 2025, with expected railcar deliveries between 4,500 and 4,900 units and projected revenue ranging from $530 million to $595 million. The company is also exploring a potential tank car retrofit program for 2026. Despite the earnings miss, the stock surged 13.2% in after-hours trading, suggesting investor optimism about the company’s strategic initiatives. FreightCar America’s CEO, Nick Randall, emphasized the company’s strong order pipeline and disciplined execution during the earnings call. The company continues to see robust demand, with a backlog of 3,337 railcars valued at $318 million, providing visibility well into 2025.
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