FreightCar America Plummets to Lowest Ever on Unexpected Loss
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FreightCar America Inc. plunged to its lowest value ever after reporting an unexpected second-quarter loss on higher costs and a steep drop in deliveries.
The manufacturer posted a loss of 4 cents a share after the market closed on Monday. Analysts had anticipated earnings of 43 cents, according to the average of estimates compiled by Bloomberg. Revenue plunged 46 percent to $126.2 million, missing analysts’ estimates of $162.8 million.