USA: The producer’s annual financial statements included a forecast of this increase in sales, which is expected to reach 4,000–4,400 cars, up from 3,000 cars delivered in 2023 (-5% to 2022).
The car builder anticipates a revenue growth to USD 520–572 mln, compared to last year’s USD 358.1 mln, representing a 1.8% decline in 2022.
FreightCar America (FCA) attributes these expectations to the completion of the capacity expansion of its plant in Castaños, Mexico, in February. The investment of USD 34 mln in the project also created 500 jobs. The plant is now capable of producing more than 5,000 freight cars a year, a figure that is twice as high as in 2023, according to FCA CFO Mike Riordan.
In his comments on the disappointing 2023 results, he highlighted the impact of currency fluctuations and supply disruptions resulting from the closure of the US-Mexico border in December.
