FreightCar America's loss swells in 1st qtr.

May 06, 2014 | 02:10 PM | Frank Haflich

Tags  FreightCar America, rail car, coal car, Joseph McNeely, Theodore Baun, Frank Haflich

LOS ANGELES — Harsh winter weather contributed to a more than doubling in FreightCar America Inc.’s first-quarter net loss, although the rail car builder sees signs of recovery in its key coal car market.

Severe weather and production line changeovers "resulted in rail car deliveries that were 30 percent lower than we had planned in the first quarter," chief executive officer Joseph E. McNeely said in a statement accompanying the company’s earnings results.

Moreover, the brutal winter led to higher coal train utilization, which reduced the number of coal trains released for maintenance across the industry to the company’s repair shops, he said.....





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