FreightCar America (RAIL) 10-Q 12 Nov 24 2024 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Sep. 30, 2024	Oct. 29, 2024
Cover [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Quarterly Report	true
Document Transition Report	false
Current Fiscal Year End Date	--12-31
Document Period End Date	Sep. 30, 2024
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	Q3
Entity Central Index Key	0001320854
Entity File Number	000-51237
Entity Registrant Name	FREIGHTCAR AMERICA, INC.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	25-1837219
Entity Address, Address Line One	125 South Wacker Drive
Entity Address, Address Line Two	Suite 1500
Entity Address, City or Town	Chicago
Entity Address, State or Province	IL
Entity Address, Postal Zip Code	60606
City Area Code	800
Local Phone Number	458-2235
Title of 12(b) Security	Common stock, par value $0.01 per share
Trading Symbol	RAIL
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		18,893,972

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets (Unaudited) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Current assets
Cash, cash equivalents and restricted cash equivalents	$ 44,830	$ 40,560
Accounts receivable, net of allowance for credit losses of $74 and $18 respectively	24,319	6,408
VAT receivable	2,489	2,926
Inventories, net	84,812	125,022
Assets held for sale	629	0
Related party asset	936	638
Prepaid expenses	10,100	4,867
Total current assets	168,115	180,421
Property, plant and equipment, net	30,461	31,258
Railcars available for lease, net	0	2,842
Right of use asset operating lease	2,514	2,826
Right of use asset finance lease	43,823	40,277
Other long-term assets	1,036	1,835
Total assets	245,949	259,459
Current liabilities
Accounts and contractual payables	74,355	84,417
Related party accounts payable	2,493	2,478
Accrued payroll and other employee costs	7,447	5,738
Accrued warranty	1,493	1,602
Customer deposits	8,865	0
Current portion of long-term debt	0	29,415
Other current liabilities	10,196	13,711
Total current liabilities	104,849	137,361
Warrant liability	162,382	36,801
Accrued pension costs	1,226	1,046
Lease liability operating lease, long-term	2,778	3,164
Lease liability finance lease, long-term	45,482	41,273
Other long-term liabilities	1,660	2,562
Total liabilities	318,377	222,207
Commitments and contingencies
Series C Preferred stock, $0.01 par value, 85,412 shares authorized, 85,412 shares issued and outstanding at each of September 30, 2024 and December 31, 2023, respectively. Liquidation value $108,388 and $95,048 at September 30, 2024 and December 31, 2023, respectively.	83,889	83,458
Stockholders' deficit
Preferred stock, $0.01 par value, 2,500,000 shares authorized (100,000 shares each designated as Series A voting and Series B non-voting, 0 shares issued and outstanding at September 30, 2024 and December 31, 2023)	0	0
Common stock, $0.01 par value, 50,000,000 shares authorized, 18,884,838 and 17,903,437 shares issued and outstanding at September 30, 2024 and December 31, 2023, respectively	220	210
Additional paid in capital	97,098	94,067
Accumulated other comprehensive income	84	2,365
Accumulated deficit	(253,719)	(142,848)
Total stockholders' deficit	(156,317)	(46,206)
Total liabilities, mezzanine equity and stockholders' deficit	$ 245,949	$ 259,459

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Unaudited) (Parenthetical) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Allowance for doubtful accounts	$ 74	$ 18
Preferred stock, par value	$ 0.01	$ 0.01
Preferred stock, shares authorized	2,500,000	2,500,000
Common stock, par value	$ 0.01	$ 0.01
Common stock, shares authorized	50,000,000	50,000,000
Common stock, shares issued	18,884,838	17,903,437
Common stock, shares outstanding	18,884,838	17,903,437
Series A Preferred Stock [Member]
Preferred stock, shares authorized	100,000	100,000
Series B Preferred Stock [Member]
Preferred stock, shares authorized	100,000	100,000
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Series C Preferred Stock [Member]
Preferred stock, par value	$ 0.01	$ 0.01
Preferred stock, shares authorized	85,412	85,412
Preferred stock, shares issued	85,412	85,412
Liquidation value	$ 108,388	$ 95,048
Preferred stock, shares outstanding	85,412	85,412

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations (Unaudited) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Income Statement [Abstract]
Revenues	$ 113,255	$ 61,894	$ 421,729	$ 231,489
Cost of sales	97,059	52,669	375,700	201,824
Gross profit	16,196	9,225	46,029	29,665
Selling, general and administrative expenses	7,538	7,511	23,541	19,750
Gain on sale of railcars available for lease	0	0	0	(622)
Loss on pension settlement	0	313		313
Litigation settlement	0	0	(3,214)	0
Operating income	8,658	1,401	25,702	10,224
Interest expense	(1,577)	(2,037)	(5,815)	(12,988)
(Loss) gain on change in fair market value of Warrant liability	(110,040)	4,273	(125,581)	(1,869)
Loss on extinguishment of debt	0	0	0	(14,880)
Other expense	(680)	(228)	(1,419)	(333)
{Loss} income before income taxes	(103,639)	3,409	(107,113)	(19,846)
Income tax (benefit) provision	3,407	216	3,327	887
Net loss	$ (107,046)	$ 3,193	$ (110,440)	$ (20,733)
Net loss per common share - basic	$ (3.57)	$ (0.03)	$ (4.07)	$ (0.94)
Net loss per common share - diluted	$ (3.57)	$ (0.03)	$ (4.07)	$ (0.94)
Weighted average common shares outstanding - basic	31,353,997	29,543,963	30,519,545	28,064,410
Weighted average common shares outstanding - diluted	31,353,997	29,543,963	30,519,545	28,064,410

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Comprehensive (Loss) Income (Unaudited) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Statement of Comprehensive Income [Abstract]
Net loss	$ (107,046)	$ 3,193	$ (110,440)	$ (20,733)
Other comprehensive (loss) income, net of tax:
Loss on pension settlement	0	313	0	313
Unrealized (loss) gain on foreign currency derivatives	(1,123)	34	(2,390)	34
Pension and postretirement liability adjustments	39	573	109	650
Comprehensive (loss) income	$ (108,130)	$ 4,113	$ (112,721)	$ (19,736)

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Stockholders' Equity (Deficit) (Unaudited) - USD ($) $ in Thousands	Total	Preferred Stock [Member] Series C Preferred Stock [Member]	Common Stock [Member]	Additional Paid In Capital [Member]	Accumulated Other Comprehensive (Loss) Income [Member]	Retained (Deficit) [Member]
Balance at Dec. 31, 2022	$ (28,584)		$ 203	$ 89,104	$ 1,022	$ (118,913)
Balance (Shares) at Dec. 31, 2022			17,223,306
Other comprehensive income	997				997
Balance at Jun. 30, 2023	(48,954)	$ 83,253	$ 210	92,633	1,099	(142,896)
Balance (Shares) at Jun. 30, 2023		85,412	17,899,191
Balance at Dec. 31, 2022	(28,584)		$ 203	89,104	1,022	(118,913)
Balance (Shares) at Dec. 31, 2022			17,223,306
Net income (Loss)	(20,733)					(20,733)
Issuance of Preferred Stock value	(203)	$ 83,314				(203)
Preferred Stock Shares Issued1		85,412
Accretion of preferred shares issuance costs	(203)
Restricted stock awards			$ 4	(4)
Restricted stock awards, shares			453,258
Employee stock settlement	(106)			(106)
Employee stock settlement, shares			(31,888)
Stock Appreciation Rights Classification Modification	1,738			1,738
Vesting of Restricted Stock Units Share			42,815
Vesting of Restricted Stock Units	$ 145			$ 145
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Exercises in Period	3		4,984	3
Exercise of stock appreciation rights, Shares	3		4,984	3
Stock-based compensation recognized	$ 1,789			$ 1,789
Equity fees	685		$ 3	682
Equity fees, Shares			210,962
Balance at Sep. 30, 2023	(44,269)	$ 83,314	$ 210	93,351	2,019	(139,849)
Balance (Shares) at Sep. 30, 2023		85,412	17,903,437
Balance at Jun. 30, 2023	(48,954)	$ 83,253	$ 210	$ 92,633	1,099	(142,896)
Balance (Shares) at Jun. 30, 2023		85,412	17,899,191
Net income (Loss)	3,193					3,193
Other comprehensive income	920				920
Issuance of Preferred Stock value		$ 61				(146)
Accretion of preferred shares issuance costs	$ (146)
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Exercises in Period	3		4,246	3
Exercise of stock appreciation rights, Shares	3		4,246	3
Stock-based compensation recognized	$ 715			$ 715
Balance at Sep. 30, 2023	(44,269)	$ 83,314	$ 210	93,351	2,019	(139,849)
Balance (Shares) at Sep. 30, 2023		85,412	17,903,437
Balance at Dec. 31, 2023	$ (46,206)	$ 83,458	$ 210	94,067	2,365	(142,848)
Balance (Shares) at Dec. 31, 2023	17,903,437	85,412	17,903,437
Net income (Loss)	$ (110,440)					(110,440)
Other comprehensive income	(2,281)				(2,281)
Accretion of preferred shares issuance costs	(431)	$ 431				(431)
Restricted stock awards			$ 8	(8)
Restricted stock awards, shares			774,796
Employee stock settlement	(40)			(40)
Employee stock settlement, shares			(14,615)
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Exercises in Period			328,010
Forfeiture of restricted stock awards			$ (1)	1
Forfeiture of restricted stock awards, shares			(106,790)
Exercise of stock appreciation rights	751		$ 3	748
Exercise of stock appreciation rights, Shares			328,010
Stock-based compensation recognized	2,330			2,330
Balance at Sep. 30, 2024	$ (156,317)	$ 83,889	$ 220	97,098	84	(253,719)
Balance (Shares) at Sep. 30, 2024	18,884,838	85,412	18,884,838
Balance at Jun. 30, 2024	$ (48,829)	$ 83,745	$ 220	96,312	1,168	(146,529)
Balance (Shares) at Jun. 30, 2024		85,412	18,873,850
Net income (Loss)	(107,046)					(107,046)
Other comprehensive income	1,084				1,084
Accretion of preferred shares issuance costs	(144)	$ 144				(144)
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Exercises in Period			10,988
Exercise of stock appreciation rights	(18)			(18)
Exercise of stock appreciation rights, Shares			10,988
Stock-based compensation recognized	804			804
Balance at Sep. 30, 2024	$ (156,317)	$ 83,889	$ 220	$ 97,098	$ 84	$ (253,719)
Balance (Shares) at Sep. 30, 2024	18,884,838	85,412	18,884,838

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023
Cash flows from operating activities
Net loss	$ (110,440)	$ (20,733)
Adjustments to reconcile net loss to net cash flows provided by (used in) operating activities:
Depreciation and amortization	4,252	3,189
Non-cash lease expense on right-of-use assets	2,226	1,873
Loss on change in fair market value of Warrant liability	125,581	1,869
Loss on pension settlement	0	313
Stock-based compensation recognized	2,330	524
Non-cash interest expense	3,638	8,980
Loss on extinguishment of debt	0	14,880
Other non-cash items, net	(1,589)	(435)
Changes in operating assets and liabilities:
Accounts receivable	(17,911)	(1,126)
VAT receivable	465	2,320
Inventories	40,859	(57,213)
Accounts and contractual payables	(8,300)	2,739
Income taxes payable, net	(2,179)	(1,490)
Lease liability	(2,802)	(2,779)
Customer deposits	8,865	19,644
Other assets and liabilities	(5,948)	1,035
Net cash flows provided by (used in) operating activities	39,047	(26,410)
Cash flows from investing activities
Purchase of property, plant and equipment	(3,731)	(8,971)
Proceeds from sale of railcars available for lease, net of selling costs	0	8,356
Net cash flows used in investing activities	(3,731)	(615)
Cash flows from financing activities
Proceeds from issuance of preferred shares, net of issuance costs	0	13,254
Deferred financing costs	0	(300)
Borrowings on revolving line of credit	26,595	115,172
Repayments on revolving line of credit	(56,010)	(123,062)
Employee stock settlement	(40)	(106)
Payment for stock appreciation rights exercised	0	(6)
Financing lease payments	(1,591)	(460)
Net cash flows (used in) provided by financing activities	(31,046)	4,492
Net increase (decrease) in cash and cash equivalents	4,270	(22,533)
Cash, cash equivalents and restricted cash equivalents at beginning of period	40,560	37,912
Cash, cash equivalents and restricted cash equivalents at end of period	44,830	15,379
Supplemental cash flow information
Interest paid	2,177	3,961
Income taxes paid	5,061	1,857
Non-cash transactions
Change in unpaid construction in process	(226)	51
Accrued PIK interest paid through issuance of PIK Note	0	3,161
Issuance of preferred shares in exchange of term loan		72,688
Issuance of Warrants	0	3,014
Issuance of equity fee	$ 0	$ 685

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
	Sep. 30, 2024
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

Description of the Business

Description of the Business	9 Months Ended
	Sep. 30, 2024
Description of the Business [Abstract]
Description of the Business	Note 1 – Description of the Business FreightCar America, Inc. (“FreightCar”, the “Company”, “we” or “our”) operates primarily in North America through its direct and indirect subsidiaries, and designs and manufactures a wide range of railroad freight cars, completes railcar rebody and repair services, provides railcar conversion services that repurpose idled rail assets back into revenue service, and supplies railcar parts. The Company designs and builds high-quality railcars, including bulk commodity cars, covered hopper cars, intermodal and non-intermodal flat cars, mill gondola cars, coil steel cars, coal cars and boxcars. The Company is headquartered in Chicago, Illinois and has facilities in the following locations: Johnstown, Pennsylvania; Qingdao, People’s Republic of China; and Castaños, Coahuila, Mexico (the “Castaños Facility”).

Basis of Presentation

Basis of Presentation	9 Months Ended
	Sep. 30, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	Note 2 – Basis of Presentation The accompanying condensed consolidated financial statements include the accounts of FreightCar and its subsidiaries. All intercompany accounts and transactions have been eliminated in consolidation. The foregoing financial information has been prepared in accordance with the accounting principles generally accepted in the United States of America (“GAAP”) and rules and regulations of the U.S. Securities and Exchange Commission (the “SEC”) for interim financial reporting. The preparation of the financial statements in accordance with GAAP requires management to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. Actual results could differ from these estimates. The results of operations for the three and nine months ended September 30, 2024 are not necessarily indicative of the results to be expected for the full year. The accompanying interim financial information is unaudited; however, the Company believes the financial information reflects all adjustments (consisting of items of a normal recurring nature) necessary for a fair presentation of financial position, results of operations and cash flows in conformity with GAAP. The 2023 year-end balance sheet data was derived from the audited financial statements as of December 31, 2023. Certain information and note disclosures normally included in the Company’s annual financial statements prepared in accordance with GAAP have been condensed or omitted. Certain prior year amounts have been reclassified, where necessary, to conform to the current year presentation. These interim financial statements should be read in conjunction with the audited financial statements contained in the Company’s Annual Report on Form 10-K for the year ended December 31, 2023 .

Revenue Recognition

Revenue Recognition	9 Months Ended
	Sep. 30, 2024
Revenue from Contract with Customer [Abstract]
Revenue Recognition	Note 3 – Revenue Recognition The following table disaggregates the Company’s revenues by major source: Three Months Ended Nine Months Ended September 30, September 30, 2024 2023 2024 2023 Railcar sales $ 109,010 $ 58,407 $ 405,684 $ 220,752 Parts sales 4,175 3,340 14,393 9,613 Revenues from contracts with customers 113,185 61,747 420,077 230,365 Leasing revenues 70 147 1,652 1,124 Total revenues $ 113,255 $ 61,894 $ 421,729 $ 231,489 Contract Balances and Accounts Receivable Contract assets represent the Company’s rights to consideration for performance obligations that have been satisfied but for which the terms of the contract do not permit billing at the reporting date. The Company had no contract assets a s of September 30, 2024 and December 31, 2023. The Company may receive cash payments from customers in advance of the Company satisfying performance obligations under its sales contracts resulting in deferred revenue or customer deposits, which are considered contract liabilities. Deferred revenue and customer deposits are classified as either current or long-term liabilities in the condensed consolidated balance sheet based on the timing of when the Company expects to recognize the related revenue. Customer deposits and deferred revenue, included in customer deposits and other current liabilities, respectively, in the Company’s condensed consolidated balance sheet, were $ 8,865 as of September 30, 2024 and $ 5,686 as of December 31, 2023. The December amounts were recognized as revenue during the first quarter of 2024. The Company has not experienced significant historical credit losses. Performance Obligations The Company is electing not to disclose the value of the remaining unsatisfied performance obligations with a duration of one year or less as permitted by ASU 2014-09, Revenue from Contracts with Customers. The Company had remaining unsatisfied performance obligations as of September 30, 2024 with expected duration of greater than one year of $ 108,914 .

Segment Information

Segment Information	9 Months Ended
	Sep. 30, 2024
Segment Reporting [Abstract]
Segment Information	Note 4 – Segment Information The Company’s operations consist of two operating segments, Manufacturing and Parts, and one reportable segment, Manufacturing. The Company’s Manufacturing segment includes new railcar manufacturing, railcar rebody and repair services, and complete railcar conversion services that repurpose idled rail assets back into revenue service. The Company’s Parts operating segment is not significant for reporting purposes and has been combined with corporate and other non-operating activities as Corporate and Other. Segment operating income is an internal performance measure used by the Company’s Chief Operating Decision Maker to assess the performance of each segment in a given period. Segment operating income includes all external revenues attributable to the segments as well as operating costs and income that management believes are directly attributable to the current production of goods and services. The Company’s internal management reporting package does not include interest revenue, interest expense or income taxes allocated to individual segments and these items are not considered as a component of segment operating income. Segment assets represent operating assets and exclude intersegment accounts, deferred tax assets and income tax receivables. The Company does not allocate cash and cash equivalents and restricted cash and restricted cash equivalents to its operating segments as the Company’s treasury function is managed at the corporate level. Intersegment revenues were not material in any period presented. Three Months Ended Nine Months Ended September 30, September 30, 2024 2023 2024 2023 Revenues: Manufacturing $ 109,080 $ 58,554 $ 407,336 $ 221,877 Corporate and Other 4,175 3,340 14,393 9,612 Consolidated revenues $ 113,255 $ 61,894 $ 421,729 $ 231,489 Operating income (loss): Manufacturing (1) $ 13,823 $ 7,378 $ 40,816 $ 24,775 Corporate and Other (2) ( 5,165 ) ( 5,977 ) ( 15,114 ) ( 14,551 ) Consolidated operating income $ 8,658 $ 1,401 $ 25,702 $ 10,224 Consolidated interest expense ( 1,577 ) ( 2,037 ) ( 5,815 ) ( 12,988 ) (Loss) gain on change in fair market value of Warrant liability ( 110,040 ) 4,273 ( 125,581 ) ( 1,869 ) Loss on extinguishment of debt - - - ( 14,880 ) Consolidated other expense ( 680 ) ( 228 ) ( 1,419 ) ( 333 ) Consolidated (loss) income before income taxes $ ( 103,639 ) $ 3,409 $ ( 107,113 ) $ ( 19,846 ) Depreciation and amortization: Manufacturing $ 1,331 $ 942 $ 3,906 $ 2,763 Corporate and Other 111 143 346 426 Consolidated depreciation and amortization $ 1,442 $ 1,085 $ 4,252 $ 3,189 Capital expenditures: Manufacturing $ 1,277 $ 3,989 $ 3,485 $ 8,815 Corporate and Other 185 28 246 156 Consolidated capital expenditures $ 1,462 $ 4,017 $ 3,731 $ 8,971 (1) Results for the nine months ended September 30, 2024 include a litigation settlement, of which $ 1,386 was allocated to leasing revenues and $ 3,214 was allocated to litigation settlement. Results for the nine months ended September 30, 2023 include a gain on sale of railcars available for lease of $ 622 . (2) Results for the three and nine months ended September 30, 2023 include a loss on pension settlement of $ 313 . September 30, December 31, 2024 2023 Assets: Manufacturing $ 187,001 $ 207,093 Corporate and Other 55,988 51,158 Total operating assets 242,989 258,251 Consolidated income taxes receivable 2,960 1,208 Consolidated assets $ 245,949 $ 259,459 Geographic Information Revenues Long Lived Assets (a) Three Months Ended Nine Months Ended September 30, September 30, September 30, December 31, 2024 2023 2024 2023 2024 2023 United States $ 113,255 $ 61,894 $ 421,729 $ 231,489 $ 4,090 $ 7,377 Mexico - - - - 72,708 69,826 Total $ 113,255 $ 61,894 $ 421,729 $ 231,489 $ 76,798 $ 77,203 (a) Long lived assets include property plant and equipment, net, railcars available for lease, net, and right-of-use (ROU) assets.

Fair Value Measurements

Fair Value Measurements	9 Months Ended
	Sep. 30, 2024
Fair Value Disclosures [Abstract]
Fair Value Measurements	Note 5 – Fair Value Measurements The following table sets forth by level within the fair value hierarchy the Company’s financial assets that were recorded at fair value on a recurring basis and the Company’s non-financial assets that were recorded at fair value on a non-recurring basis. Recurring Fair Value Measurements As of September 30, 2024 Level 1 Level 2 Level 3 Total Liabilities: Warrant liability $ - $ 162,382 $ - $ 162,382 Foreign currency derivative liability $ - $ 1,784 $ - $ 1,784 Recurring Fair Value Measurements As of December 31, 2023 Level 1 Level 2 Level 3 Total Liabilities: Warrant liability $ - $ 36,801 $ - $ 36,801 Assets: Foreign currency derivative asset $ - $ 606 $ - $ 606 Non-recurring Fair Value Measurements During the Nine Months Ended September 30, 2024 Level 1 Level 2 Level 3 Total Assets: Assets held for sale $ - $ - $ 629 $ 629 Non-recurring Fair Value Measurements During the Year Ended December 31, 2023 Level 1 Level 2 Level 3 Total Assets: Railcars available for lease, net $ - $ - $ 2,842 $ 2,842 The fair value of the Company’s Warrant (as defined in Note 10 - Warrants) liability recorded in the Company’s financial statements, determined using the quoted price of the Company’s common stock, par value $ 0.01 per share (the “Common Stock”), in an active market, exercise prices of $ 0.01 per share and $ 3.57 per share, and number of shares exercisable at September 30, 2024 and December 31, 2023, is a Level 2 measurement. The fair value of the Company’s foreign currency derivative (liability) asset determined using exit prices obtained from each counterparty, which are based on currency spot and forward rates at September 30, 2024 and December 31, 2023 in an active market, is a Level 2 measurement. See Note 15 - Derivatives. The fair value of the Company's fleet of triple hopper aggregate railcars determined using a cost plus market approach for a portion of the assets and a market-based approach for the remainder of the assets at December 31, 2023, is a Level 3 measurement. In the first quarter of 2024, the Company gained possession of these railcars. The portion of railcars intended to be sold in their current condition were classified as assets held for sale, while the remaining railcars intended to be converted into a new car type were classified as inventory.

Restricted Cash

Restricted Cash	9 Months Ended
	Sep. 30, 2024
Restricted Cash [Abstract]
Restricted Cash	Note 6 – Restricted Cash The Company establishes restricted cash balances when required by customer contracts, and to collateralize standby letters of credit or foreign currency derivatives. The carrying value of restricted cash approximates its fair value. The Company’s restricted cash balances are as follows: September 30, December 31, 2024 2023 Restricted cash from customer deposit $ 282 $ 282 Restricted cash to collateralize standby letters of credit 103 103 Restricted cash to collateralize foreign currency derivatives 3,300 320 Total restricted cash and restricted cash equivalents $ 3,685 $ 705

Inventories

Inventories	9 Months Ended
	Sep. 30, 2024
Inventory Disclosure [Abstract]
Inventories	Note 7 – Inventories Inventories, net of reserve for excess and obsolete items, consist of the following: September 30, December 31, 2024 2023 Raw materials $ 65,913 $ 65,639 Work in process 6,961 31,138 Finished railcars 6,329 23,196 Parts inventory 5,609 5,049 Total inventories, net $ 84,812 $ 125,022 Inventory on the Company’s condensed consolidated balance sheets includes reserves of $ 1,918 and $ 1,594 relating to excess or slow-moving inventory for parts and raw materials at September 30, 2024 and December 31, 2023 , respectively.

Product Warranties

Product Warranties	9 Months Ended
	Sep. 30, 2024
Product Warranties Disclosures [Abstract]
Product Warranties	Note 8 – Product Warranties Warranty terms are based on the negotiated railcar sale, rebody or conversion contract, as applicable. Changes in the warranty reserve for the nine months ended September 30, 2024 and 2023 are as follows: For the Nine Months Ended September 30, 2024 2023 Balance at the beginning of the year $ 1,602 $ 1,940 Current year provision 511 663 Reductions for payments, costs of repairs and other ( 340 ) ( 852 ) Adjustments to prior warranties ( 280 ) ( 113 ) Balance at the end of the period $ 1,493 $ 1,638 Adjustments to prior warranties include changes in the warranty reserve for warranties issued in prior periods due to expiration of the warranty period, revised warranty cost estimates and other factors.

Revolving Credit Facility

Revolving Credit Facility	9 Months Ended
	Sep. 30, 2024
Debt Disclosure [Abstract]
Revolving Credit Facility	Note 9 – Revolving Credit Facility As of September 30, 2024 , a revolving line of credit maturing on October 31, 2024 exists in the maximum aggregate principal amount of up to $ 45,000 , secured by a standby letter of credit in the principal amount of $ 25,000 and the Company’s accounts receivable. In connection with the standby letter of credit, the Company has agreed to pay an affiliate of OC III LFE (as defined below) a fee due and payable in cash of $375 per quarter. The Company had no outstanding debt and remaining availability of $ 41,373 under this facility as of September 30, 2024. As of December 31, 2023, the Company had $ 29,415 in outstanding debt and remaining availability of $ 10,853 under this facility. The standby letter of credit bears interest at the prime rate of interest (“Prime”) plus 1.5 %, or 9.5 % as of September 30, 2024 . Advances secured by the Company’s accounts receivable bear interest at Prime plus 2 %, or 10 % as of September 30, 2024. The revolving line of credit was subsequently amended on October 30, 2024 to extend the maturity date from October 31, 2024 to December 31, 2024 , decrease the maximum aggregate principal amount from up to $ 45,000 to up to $ 20,000 , and remove the standby letter of credit in the principal amount of $ 25,000 along with the $375 quarterly fee in connection with the standby letter of credit. The fair value of debt approximates its carrying value as of December 31, 2023 .

Warrants

Warrants	9 Months Ended
	Sep. 30, 2024
Warrants and Rights Note Disclosure [Abstract]
Warrants	Note 10 – Warrants The Company issued warrants to OC III LFE II LP (“OC III LFE”) and various affiliates of OC III LFE (collectively, the “Warrantholder”) in previous years to purchase a number of shares of Common Stock equal to 23 % (the “2020 Warrant”), 5 % (the “2021 Warrant”), and 5 % (the “2022 Warrant”) of the outstanding Common Stock (after giving effect to such issuance) on a fully-diluted basis at the time the warrants are exercised. The 2020 Warrant, 2021 Warrant, and 2022 Warrant each have a per share exercise price of $ 0.01 and a term of ten ( 10 ) years from date of issuance. The 2020 Warrant, issued in November 2020, was exercisable for an aggregate of 9,502,172 and 8,712,618 shares of Common Stock as of September 30, 2024 and December 31, 2023, respectively. The 2021 Warrant, issued in December 2021, was exercisable for an aggregate of 2,065,689 and 1,894,047 shares of Common Stock as of September 30, 2024 and December 31, 2023, respectively. The 2022 Warrant, issued in April 2022, was exercisable for an aggregate of 2,065,689 and 1,894,047 shares of Common Stock as of September 30, 2024 and December 31, 2023 , respectively. The Company also issued a warrant to the Warrantholder in May 2023 to purchase an aggregate of 1,636,313 shares of Common Stock (the “2023 Warrant”), exercisable for a term of ten ( 10 ) years from date of issuance with a per share exercise price of $ 3.57 . The 2020 Warrant, 2021 Warrant, 2022 Warrant and 2023 Warrant are collectively referred to herein as the “Warrant”. As of September 30, 2024, the Warrant is classified as a liability and subject to fair value remeasurement at each balance sheet date. The fair value of the Warrant at September 30, 2024 and December 31, 2023 was $ 162,382 and $ 36,801 , respectively. The change in fair value of the Warrant is reported on a separate line in the condensed consolidated statements of operations.

Mezzanine Equity

Mezzanine Equity	9 Months Ended
	Sep. 30, 2024
Equity [Abstract]
Mezzanine Equity	Note 11 – Mezzanine Equity In May 2023, the Company issued to OC III LFE 85,412 shares of non-convertible Series C Preferred Stock, $ 0.01 par value per share, with an initial stated and fair value of $ 85,412 or $ 1,000 per share (the “Preferred Stock”). As of September 30, 2024 , 85,412 shares of the Preferred Stock remain issued and outstanding. The Company classifies the Preferred Stock as mezzanine equity (temporary equity outside of permanent equity) because a deemed liquidation event following a change of control may require redemption of the Preferred Stock that is not solely within the control of the Company. The Preferred Stock ranks senior to the Common Stock with respect to payment of dividends and distribution of assets upon liquidation, dissolution and winding up. Dividends accrue at a rate of 17.5 % per annum on the initial stated value of the Preferred Stock. Accrued dividends, whether or not declared, are cumulative. OC III LFE will not participate in any dividends paid to holders of Common Stock. The Company may redeem outstanding shares of Preferred Stock at any time by payment of the initial stated value plus accrued dividends. If the Company has not redeemed all of the outstanding shares of Preferred Stock on or prior to the fourth anniversary of issuance, the dividend rate will increase by 0.5 % for every quarter thereafter until redeemed in full (the “Dividend Rate Increase”). OC III LFE has the right to request the Company redeem all of the outstanding shares of Preferred Stock at any time after the sixth anniversary of issuance. If the Company does not redeem all of the outstanding shares of Preferred Stock within six months after receipt of a redemption request, OC III LFE will be entitled to certain limited voting rights. The Preferred Stock has similar characteristics of an “Increasing Rate Security” as described by SEC Staff Accounting Bulletin Topic 5Q, Increasing Rate Preferred Stock. As a result, and as the Company has the ability to redeem all of the outstanding shares of the Preferred Stock before the occurrence of a Dividend Rate Increase, the discount on outstanding shares of Preferred Stock is considered an unstated dividend cost that is amortized over the period preceding commencement of the Dividend Rate Increase using the effective interest method, by charging imputed dividend cost against retained earnings, or additional paid in capital in the absence of retained earnings, and increasing the carrying amount of the outstanding shares of Preferred Stock by a corresponding amount. Accordingly, the discount is amortized over four years using the effective yield method. Issuance costs of $ 2,301 were allocated against the outstanding shares of the Preferred Stock upon issuance. The Company recognized discount amortization of $ 144 and $ 431 during the three and nine months ended September 30, 2024, respectively, and $ 146 and $ 203 during the three and nine months ended September 30, 2023 , respectively.

Accumulated Other Comprehensive

Accumulated Other Comprehensive Income	9 Months Ended
	Sep. 30, 2024
Other Comprehensive Income (Loss), Net of Tax [Abstract]
Accumulated Other Comprehensive Income	Note 12 – Accumulated Other Comprehensive Income The changes in accumulated other comprehensive income consist of the following: Pre-Tax Tax After-Tax Three months ended September 30, 2024 Pension liability activity: Reclassification adjustment for amortization of net loss (pre-tax other income) $ 39 $ - $ 39 Foreign currency derivative liability activity: Unrealized loss on foreign currency derivatives $ ( 1,123 ) $ - $ ( 1,123 ) $ ( 1,084 ) $ - $ ( 1,084 ) Three months ended September 30, 2023 Pension liability activity: Loss on pension settlement $ 313 $ - $ 313 Reclassification adjustment for amortization of net loss (pre-tax other income) 573 - 573 $ 886 $ - $ 886 Foreign currency derivative asset activity: Unrealized gain on foreign currency derivatives $ 34 $ - $ 34 $ 920 $ - $ 920 Nine months ended September 30, 2024 Pre-Tax Tax After-Tax Pension liability activity: Reclassification adjustment for amortization of net loss (pre-tax other income) $ 109 $ - $ 109 Foreign currency derivative liability activity: Unrealized loss on foreign currency derivatives $ ( 2,390 ) $ - $ ( 2,390 ) $ ( 2,281 ) $ - $ ( 2,281 ) Nine months ended September 30, 2023 Pension liability activity: Loss on pension settlement $ 313 $ - $ 313 Reclassification adjustment for amortization of net loss (pre-tax other income) 650 - 650 $ 963 $ - $ 963 Foreign currency derivative asset activity: Unrealized gain on foreign currency derivatives $ 34 $ - $ 34 $ 997 $ - $ 997 The components of accumulated other comprehensive income consist of the following: September 30, December 31, 2024 2023 Unrecognized pension income, net of tax of $ 6,282 and $ 6,282 , respectively $ 1,868 $ 1,759 Unrealized (loss) gain on foreign currency derivatives ( 1,784 ) 606 $ 84 $ 2,365

Stock-Based Compensation

Stock-Based Compensation	9 Months Ended
	Sep. 30, 2024
Share-Based Payment Arrangement, Noncash Expense [Abstract]
Stock-Based Compensation	Note 13 – Stock-Based Compensation Total stock-based compensation was $ 804 and $ 715 for the three months ended September 30, 2024 and 2023, respectively, and $ 2,330 and $ 524 for the nine months ended September 30, 2024 and 2023, respectively. As of September 30, 2024, there was $ 2,064 of unearned compensation expense related to restricted stock awards, which will be recognized over the remaining weighted average requisite service period of 21 months. As of September 30, 2024, there was $ 1,751 of unearned compensation expense related to time-vested stock options, which will be recognized over the remaining requisite service period of 23 months. As of September 30, 2024 , there was no unearned compensation expense related to cash settled stock appreciation rights. In June 2023, the Company issued 300,000 inducement stock options (the “Inducement Options”) outside of The FreightCar America, Inc. 2022 Long Term Incentive Plan to one individual. As of September 30, 2024, there was $ 172 of unrecognized compensation expense related to the Inducement Options, which will be recognized over the remaining requisite service period of 21 months.

Employee Benefit Plans

Employee Benefit Plans	9 Months Ended
	Sep. 30, 2024
Retirement Benefits [Abstract]
Employee Benefit Plans	Note 14 – Employee Benefit Plans The Company has a qualified, defined benefit pension plan (the “Plan”) that was established to provide benefits to certain employees. The Plan is frozen and participants are no longer accruing benefits. Generally, contributions to the Plan were not less than the minimum amounts required under the Employee Retirement Income Security Act of 1974, as amended (“ERISA”), and not more than the maximum amount that can be deducted for federal income tax purposes. The Plan assets are held by an independent trustee and consist primarily of equity and fixed income securities. The components of net periodic benefit cost for the three and nine months ended September 30, 2024 and 2023, are as follows: Three Months Ended Nine Months Ended September 30, September 30, Pension Benefits 2024 2023 2024 2023 Interest cost $ 130 $ 151 $ 399 $ 453 Expected return on plan assets ( 70 ) ( 83 ) ( 220 ) ( 250 ) Amortization of unrecognized net income 39 38 109 115 Loss on pension settlement - 313 - 313 $ 99 $ 419 $ 288 $ 631 The Company made no contributions to the Plan for the three and nine months ended September 30, 2024 and 2023 . The Company expects to make no contributions to the Plan in 2024. The Company also maintains qualified defined contribution plans, which provide benefits to employees based on employee contributions and employee earnings with discretionary contributions allowed.

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
	Sep. 30, 2024
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Note 16 - Commitments and Contingencies The Company is involved in various litigation matters from time to time, including intellectual property litigation, and warranty and repair claims incidental to the conduct of our business. Although the Company is taking actions to vigorously contest these matters, it is not possible to determine the outcome of these matters and proceedings. The Company does not believe these actions will have a material adverse effect on our financial position, results of operations or cash flows.

Derivatives

Derivatives	9 Months Ended
	Sep. 30, 2024
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivatives	Note 15 – Derivatives The Company’s operations and expenditures in its normal course of business are subject to opportunities and risks related to foreign currency fluctuations. The Company currently utilizes foreign currency forward contracts to protect against downward currency exposure by hedging Mexican Peso denominated expenses against the risk of volatility in foreign currency exchange rates between the Mexican Peso and the U.S. Dollar. During 2023 and 2024, the Company entered into forward contracts to hedge the Company’s anticipated and probable Mexican Peso denominated expenses against the foreign currency rate exposure. The contracts have terms between one and 12 months and require the Company to exchange currencies at agreed-upon rates at each settlement date. The counterparties to the contracts consist of a limited number of domestic and international financial institutions. The Company classifies these contracts as cash flow hedges in accordance with ASC 815, Derivatives and Hedging . The Company does not have any non-designated derivatives. The Company assesses the assumed effectiveness of the contracts at each reporting period. The foreign currency derivatives are recorded on the balance sheet at fair value. The Company records unrealized gains or losses related to changes in the fair value of the forward contracts in other comprehensive income as long as the contracts are assumed to be effective. Amounts accumulated in other comprehensive (loss) income are reclassified to the condensed consolidated statements of operations on the same line as the items being hedged when the hedged item impacts earnings or upon determination that the contract is no longer assumed to be effective. The notional amounts of outstanding foreign currency derivatives are as follows: September 30, December 31, Notional Amount 2024 2023 Derivative instruments designated as hedges: Foreign currency derivatives $ 25,281 $ 11,562 The fair value of outstanding foreign currency derivatives designated as hedges are as follows: September 30, December 31, Fair Value 2024 2023 Other current liabilities: Foreign currency derivatives $ 1,784 $ - Prepaid expenses: Foreign currency derivatives $ - $ 606 The pre-tax realized loss (gain) on foreign currency derivatives is recognized in the condensed consolidated statements of operations as follows: Amount of Loss/(Gain) Recognized Amount of (Gain) Recognized Three Months Ended Nine Months Ended Location of Realized Loss/(Gain) Recognized in the Condensed Consolidated Statements of Operations 2024 2023 2024 2023 Derivative instruments designated as cash flow hedges: Foreign currency derivatives Cost of sales $ 72 $ ( 8 ) $ ( 449 ) $ ( 8 )

Loss Per Share

Loss Per Share	9 Months Ended
	Sep. 30, 2024
Earnings Per Share [Abstract]
Loss Per Share	Note 17 – Loss Per Share The net loss available to common stockholders and weighted-average common shares outstanding are as follows: Three Months Ended Nine Months Ended 2024 2023 2024 2023 Numerator: Net (loss) income $ ( 107,046 ) $ 3,193 $ ( 110,440 ) $ ( 20,733 ) Accretion of financing fees ( 144 ) ( 146 ) ( 431 ) ( 203 ) Accrued dividends on Series C Preferred Stock ( 4,676 ) ( 3,923 ) ( 13,340 ) ( 5,535 ) Net loss available to common stockholders - basic $ ( 111,866 ) $ ( 876 ) $ ( 124,211 ) $ ( 26,471 ) Net loss available to common stockholders - diluted $ ( 111,866 ) $ ( 876 ) $ ( 124,211 ) $ ( 26,471 ) Denominator: Weighted average common shares outstanding 17,633,629 17,044,251 17,433,479 16,937,968 Issuance of Warrants 13,720,368 12,499,712 13,086,066 11,126,442 Weighted average common shares outstanding - basic 31,353,997 29,543,963 30,519,545 28,064,410 Weighted average common shares outstanding - diluted 31,353,997 29,543,963 30,519,545 28,064,410 The Company computes earnings per share using the two-class method, which is an earnings allocation formula that determines earnings per share for Common Stock and participating securities. The Company’s participating securities are its grants of restricted stock which contain non-forfeitable rights to dividends. The Company allocates earnings between both classes; however, in periods of undistributed losses, they are only allocated to common shares as the unvested restricted stockholders do not contractually participate in losses of the Company. The Company computes basic earnings per share by dividing net income allocated to common shareholders by the weighted average number of shares outstanding during the period. Warrants issued in connection with the Company's long-term debt were issued at a nominal exercise price and are considered outstanding at the date of issuance. The 2023 Warrant was issued out-of-the money and the Company will apply the treasury stock method to the 2023 Warrant when computing earnings per share. Diluted earnings per share is calculated to give effect to all potentially dilutive common shares that were outstanding during the period. Weighted average diluted common shares outstanding include the incremental shares that would be issued upon the assumed exercise of stock options and the assumed vesting of nonvested share awards. For the three months ended September 30, 2024 and 2023, 2,058,180 and 6,222,085 shares, respectively, were not included in the weighted average common shares outstanding calculation as they were anti-dilutive. For the nine months ended September 30, 2024 and 2023, 3,119,672 and 5,996,646 shares, respectively, were not included in the weighted average common shares outstanding calculation as they were anti-dilutive.

Related Parties

Related Parties	9 Months Ended
	Sep. 30, 2024
Related Party Transactions [Abstract]
Related Parties	Note 18 – Related Parties The following persons are owners of Fabricaciones y Servicios de México, S.A. de C.V. (“Fasemex”): Jesús Gil, a director of the Company; and Alejandro Gil and Salvador Gil, siblings of Jesús Gil. Fasemex owns approximately 10.3 % of the outstanding shares of Common Stock as of September 30, 2024 and provides steel fabrication services to the Company. The lessors of the Castaños Facility are Jesús Gil, Alejandro Gil, and Salvador Gil. Distribuciones Industriales JAS S.A. de C.V. (“DI”) is owned by Alejandro Gil and Salvador Gil and provides material and safety supplies to the Company. Maquinaria y equipo de transporte Jova S.A. de C.V (“METJ”) is owned by Jorge Gil, a sibling of Jesús Gil, and provides trucking services to the Company. Fasemex, DI, METJ, Jesús Gil, Alejandro Gil, Salvador Gil, and Jorge Gil are collectively referred to as the “Gil Family”. The Company paid $ 6,058 and $ 20,711 to the Gil Family during the three and nine months ended September 30, 2024, respectively, and $ 3,909 and $ 13,675 during the three and nine months ended September 30, 2023, respectively, related to steel fabrication services, rent and security deposit payments for the Castaños Facility, material and safety supplies, trucking services and royalty payments. Commercial Specialty Truck Holdings, LLC (“CSTH”) is minority owned by James R. Meyer, a member of our Board, our former CEO, and beneficial owner of over 5 % of our Common Stock. The Company sold specialty parts supplies in an amount equal to $ 268 and $ 683 t o CSTH during the three and nine months ended September 30, 2024 , respectively. The Company sold no specialty parts supplies to CSTH during the three and nine months ended September 30, 2023. Related party asset on the condensed consolidated balance sheet of $ 936 as of September 30, 2024 includes other receivables of $ 254 from CSTH and other a ssets of $ 682 from the Gil Family. Related party accounts payable on the condensed consolidated balance sheet of $ 2,493 as of September 30, 2024 is payable to the Gil Family. Related party asset on the condensed consolidated balance sheet of $ 638 as of December 31, 2023 includes other receivables of $ 517 from the Gil Family and $ 121 from CSTH. Related party accounts payable on the condensed consolidated balance sheet of $ 2,478 as of December 31, 2023 is payable to the Gil Family.

Income Taxes

Income Taxes	9 Months Ended
	Sep. 30, 2024
Income Tax Disclosure [Abstract]
Income Taxes	Note 19 – Income Taxes The Company’s tax provision for interim periods is determined using an estimate of its annual effective tax rate, adjusted for discrete items. The Company’s effective income tax rate was ( 3.3 )% and 6.3 % for the three months ended September 30, 2024 and 2023 , respectively, and ( 3.1 )% and ( 4.5 )% for the nine months ended September 30, 2024 and 2023 , respectively. The Company’s effective income tax rates for the respective periods of 2024 and 2023 differed from the U.S. statutory tax rate of 21 % primarily due to the mix of pre-tax earnings in the U.S. and Mexico; permanent differences and discrete events, predominantly in Mexico; and a full valuation allowance in the U.S.

Basis of Presentation (Policy)

Basis of Presentation (Policy)	9 Months Ended
	Sep. 30, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	The accompanying condensed consolidated financial statements include the accounts of FreightCar and its subsidiaries. All intercompany accounts and transactions have been eliminated in consolidation. The foregoing financial information has been prepared in accordance with the accounting principles generally accepted in the United States of America (“GAAP”) and rules and regulations of the U.S. Securities and Exchange Commission (the “SEC”) for interim financial reporting. The preparation of the financial statements in accordance with GAAP requires management to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. Actual results could differ from these estimates. The results of operations for the three and nine months ended September 30, 2024 are not necessarily indicative of the results to be expected for the full year. The accompanying interim financial information is unaudited; however, the Company believes the financial information reflects all adjustments (consisting of items of a normal recurring nature) necessary for a fair presentation of financial position, results of operations and cash flows in conformity with GAAP. The 2023 year-end balance sheet data was derived from the audited financial statements as of December 31, 2023. Certain information and note disclosures normally included in the Company’s annual financial statements prepared in accordance with GAAP have been condensed or omitted. Certain prior year amounts have been reclassified, where necessary, to conform to the current year presentation. These interim financial statements should be read in conjunction with the audited financial statements contained in the Company’s Annual Report on Form 10-K for the year ended December 31, 2023 .

Revenue Recognition (Tables)

Revenue Recognition (Tables)	9 Months Ended
	Sep. 30, 2024
Revenue from Contract with Customer [Abstract]
Schedule of Revenue Recognition	The following table disaggregates the Company’s revenues by major source: Three Months Ended Nine Months Ended September 30, September 30, 2024 2023 2024 2023 Railcar sales $ 109,010 $ 58,407 $ 405,684 $ 220,752 Parts sales 4,175 3,340 14,393 9,613 Revenues from contracts with customers 113,185 61,747 420,077 230,365 Leasing revenues 70 147 1,652 1,124 Total revenues $ 113,255 $ 61,894 $ 421,729 $ 231,489

Segment Information (Tables)

Segment Information (Tables)	9 Months Ended
	Sep. 30, 2024
Segment Reporting [Abstract]
Schedule of Segment Reporting Information, by Segment	Three Months Ended Nine Months Ended September 30, September 30, 2024 2023 2024 2023 Revenues: Manufacturing $ 109,080 $ 58,554 $ 407,336 $ 221,877 Corporate and Other 4,175 3,340 14,393 9,612 Consolidated revenues $ 113,255 $ 61,894 $ 421,729 $ 231,489 Operating income (loss): Manufacturing (1) $ 13,823 $ 7,378 $ 40,816 $ 24,775 Corporate and Other (2) ( 5,165 ) ( 5,977 ) ( 15,114 ) ( 14,551 ) Consolidated operating income $ 8,658 $ 1,401 $ 25,702 $ 10,224 Consolidated interest expense ( 1,577 ) ( 2,037 ) ( 5,815 ) ( 12,988 ) (Loss) gain on change in fair market value of Warrant liability ( 110,040 ) 4,273 ( 125,581 ) ( 1,869 ) Loss on extinguishment of debt - - - ( 14,880 ) Consolidated other expense ( 680 ) ( 228 ) ( 1,419 ) ( 333 ) Consolidated (loss) income before income taxes $ ( 103,639 ) $ 3,409 $ ( 107,113 ) $ ( 19,846 ) Depreciation and amortization: Manufacturing $ 1,331 $ 942 $ 3,906 $ 2,763 Corporate and Other 111 143 346 426 Consolidated depreciation and amortization $ 1,442 $ 1,085 $ 4,252 $ 3,189 Capital expenditures: Manufacturing $ 1,277 $ 3,989 $ 3,485 $ 8,815 Corporate and Other 185 28 246 156 Consolidated capital expenditures $ 1,462 $ 4,017 $ 3,731 $ 8,971 (1) Results for the nine months ended September 30, 2024 include a litigation settlement, of which $ 1,386 was allocated to leasing revenues and $ 3,214 was allocated to litigation settlement. Results for the nine months ended September 30, 2023 include a gain on sale of railcars available for lease of $ 622 . (2) Results for the three and nine months ended September 30, 2023 include a loss on pension settlement of $ 313 .
Reconciliation of Assets From Segment to Consolidated	September 30, December 31, 2024 2023 Assets: Manufacturing $ 187,001 $ 207,093 Corporate and Other 55,988 51,158 Total operating assets 242,989 258,251 Consolidated income taxes receivable 2,960 1,208 Consolidated assets $ 245,949 $ 259,459
Geographic Information	Geographic Information Revenues Long Lived Assets (a) Three Months Ended Nine Months Ended September 30, September 30, September 30, December 31, 2024 2023 2024 2023 2024 2023 United States $ 113,255 $ 61,894 $ 421,729 $ 231,489 $ 4,090 $ 7,377 Mexico - - - - 72,708 69,826 Total $ 113,255 $ 61,894 $ 421,729 $ 231,489 $ 76,798 $ 77,203 (a) Long lived assets include property plant and equipment, net, railcars available for lease, net, and right-of-use (ROU) assets.

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	6 Months Ended
	Jun. 30, 2024
Fair Value Disclosures [Abstract]
Fair Value, Assets Measured on Recurring Basis and Non-Recurring Basis	The following table sets forth by level within the fair value hierarchy the Company’s financial assets that were recorded at fair value on a recurring basis and the Company’s non-financial assets that were recorded at fair value on a non-recurring basis. Recurring Fair Value Measurements As of September 30, 2024 Level 1 Level 2 Level 3 Total Liabilities: Warrant liability $ - $ 162,382 $ - $ 162,382 Foreign currency derivative liability $ - $ 1,784 $ - $ 1,784 Recurring Fair Value Measurements As of December 31, 2023 Level 1 Level 2 Level 3 Total Liabilities: Warrant liability $ - $ 36,801 $ - $ 36,801 Assets: Foreign currency derivative asset $ - $ 606 $ - $ 606 Non-recurring Fair Value Measurements During the Nine Months Ended September 30, 2024 Level 1 Level 2 Level 3 Total Assets: Assets held for sale $ - $ - $ 629 $ 629 Non-recurring Fair Value Measurements During the Year Ended December 31, 2023 Level 1 Level 2 Level 3 Total Assets: Railcars available for lease, net $ - $ - $ 2,842 $ 2,842

Restricted Cash (Tables)

Restricted Cash (Tables)	9 Months Ended
	Sep. 30, 2024
Restricted Cash [Abstract]
Restricted Cash	The Company’s restricted cash balances are as follows: September 30, December 31, 2024 2023 Restricted cash from customer deposit $ 282 $ 282 Restricted cash to collateralize standby letters of credit 103 103 Restricted cash to collateralize foreign currency derivatives 3,300 320 Total restricted cash and restricted cash equivalents $ 3,685 $ 705

Inventories (Tables)

Inventories (Tables)	9 Months Ended
	Sep. 30, 2024
Inventory Disclosure [Abstract]
Schedule of Inventory Current	Inventories, net of reserve for excess and obsolete items, consist of the following: September 30, December 31, 2024 2023 Raw materials $ 65,913 $ 65,639 Work in process 6,961 31,138 Finished railcars 6,329 23,196 Parts inventory 5,609 5,049 Total inventories, net $ 84,812 $ 125,022

Product Warranties (Tables)

Product Warranties (Tables)	9 Months Ended
	Sep. 30, 2024
Product Warranties Disclosures [Abstract]
Changes in Warranty Reserve	Changes in the warranty reserve for the nine months ended September 30, 2024 and 2023 are as follows: For the Nine Months Ended September 30, 2024 2023 Balance at the beginning of the year $ 1,602 $ 1,940 Current year provision 511 663 Reductions for payments, costs of repairs and other ( 340 ) ( 852 ) Adjustments to prior warranties ( 280 ) ( 113 ) Balance at the end of the period $ 1,493 $ 1,638

Accumulated Other Comprehensi_2

Accumulated Other Comprehensive Loss (Tables)	9 Months Ended
	Sep. 30, 2024
Other Comprehensive Income (Loss), Net of Tax [Abstract]
Schedule of Changes in Accumulated Other Comprehensive Income (Loss)	The changes in accumulated other comprehensive income consist of the following: Pre-Tax Tax After-Tax Three months ended September 30, 2024 Pension liability activity: Reclassification adjustment for amortization of net loss (pre-tax other income) $ 39 $ - $ 39 Foreign currency derivative liability activity: Unrealized loss on foreign currency derivatives $ ( 1,123 ) $ - $ ( 1,123 ) $ ( 1,084 ) $ - $ ( 1,084 ) Three months ended September 30, 2023 Pension liability activity: Loss on pension settlement $ 313 $ - $ 313 Reclassification adjustment for amortization of net loss (pre-tax other income) 573 - 573 $ 886 $ - $ 886 Foreign currency derivative asset activity: Unrealized gain on foreign currency derivatives $ 34 $ - $ 34 $ 920 $ - $ 920 Nine months ended September 30, 2024 Pre-Tax Tax After-Tax Pension liability activity: Reclassification adjustment for amortization of net loss (pre-tax other income) $ 109 $ - $ 109 Foreign currency derivative liability activity: Unrealized loss on foreign currency derivatives $ ( 2,390 ) $ - $ ( 2,390 ) $ ( 2,281 ) $ - $ ( 2,281 ) Nine months ended September 30, 2023 Pension liability activity: Loss on pension settlement $ 313 $ - $ 313 Reclassification adjustment for amortization of net loss (pre-tax other income) 650 - 650 $ 963 $ - $ 963 Foreign currency derivative asset activity: Unrealized gain on foreign currency derivatives $ 34 $ - $ 34 $ 997 $ - $ 997
Components of Accumulated Other Comprehensive Income	The components of accumulated other comprehensive income consist of the following: September 30, December 31, 2024 2023 Unrecognized pension income, net of tax of $ 6,282 and $ 6,282 , respectively $ 1,868 $ 1,759 Unrealized (loss) gain on foreign currency derivatives ( 1,784 ) 606 $ 84 $ 2,365

Employee Benefit Plans (Tables)

Employee Benefit Plans (Tables)	9 Months Ended
	Sep. 30, 2024
Retirement Benefits [Abstract]
Components of Net Periodic Benefit Cost	The components of net periodic benefit cost for the three and nine months ended September 30, 2024 and 2023, are as follows: Three Months Ended Nine Months Ended September 30, September 30, Pension Benefits 2024 2023 2024 2023 Interest cost $ 130 $ 151 $ 399 $ 453 Expected return on plan assets ( 70 ) ( 83 ) ( 220 ) ( 250 ) Amortization of unrecognized net income 39 38 109 115 Loss on pension settlement - 313 - 313 $ 99 $ 419 $ 288 $ 631

Derivatives (Tables)

Derivatives (Tables)	9 Months Ended
	Sep. 30, 2024
Foreign Currency [Abstract]
Schedule of Notional Amounts of Outstanding Forgein Currency Derivatives	The notional amounts of outstanding foreign currency derivatives are as follows: September 30, December 31, Notional Amount 2024 2023 Derivative instruments designated as hedges: Foreign currency derivatives $ 25,281 $ 11,562
Schedule of Fair Value of Outstanding Forgein Currency Derivatives Designated as Hedges	The fair value of outstanding foreign currency derivatives designated as hedges are as follows: September 30, December 31, Fair Value 2024 2023 Other current liabilities: Foreign currency derivatives $ 1,784 $ - Prepaid expenses: Foreign currency derivatives $ - $ 606
Schedule of Pre-text Realizes Gain on Forgein Currency Derivatives	The pre-tax realized loss (gain) on foreign currency derivatives is recognized in the condensed consolidated statements of operations as follows: Amount of Loss/(Gain) Recognized Amount of (Gain) Recognized Three Months Ended Nine Months Ended Location of Realized Loss/(Gain) Recognized in the Condensed Consolidated Statements of Operations 2024 2023 2024 2023 Derivative instruments designated as cash flow hedges: Foreign currency derivatives Cost of sales $ 72 $ ( 8 ) $ ( 449 ) $ ( 8 )

Loss Per Share (Tables)

Loss Per Share (Tables)	9 Months Ended
	Sep. 30, 2024
Earnings Per Share [Abstract]
Weighted Average Common Shares Outstanding	The net loss available to common stockholders and weighted-average common shares outstanding are as follows: Three Months Ended Nine Months Ended 2024 2023 2024 2023 Numerator: Net (loss) income $ ( 107,046 ) $ 3,193 $ ( 110,440 ) $ ( 20,733 ) Accretion of financing fees ( 144 ) ( 146 ) ( 431 ) ( 203 ) Accrued dividends on Series C Preferred Stock ( 4,676 ) ( 3,923 ) ( 13,340 ) ( 5,535 ) Net loss available to common stockholders - basic $ ( 111,866 ) $ ( 876 ) $ ( 124,211 ) $ ( 26,471 ) Net loss available to common stockholders - diluted $ ( 111,866 ) $ ( 876 ) $ ( 124,211 ) $ ( 26,471 ) Denominator: Weighted average common shares outstanding 17,633,629 17,044,251 17,433,479 16,937,968 Issuance of Warrants 13,720,368 12,499,712 13,086,066 11,126,442 Weighted average common shares outstanding - basic 31,353,997 29,543,963 30,519,545 28,064,410 Weighted average common shares outstanding - diluted 31,353,997 29,543,963 30,519,545 28,064,410

Revenue Recognition (Narrative)

Revenue Recognition (Narrative) (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Disaggregation of Revenue [Line Items]
Contract assets	$ 0	$ 0
Deferred revenue and customer deposits	8,865	$ 5,686
Performance obligation	$ 108,914

Revenue Recognition (Schedule o

Revenue Recognition (Schedule of Revenue Recognition) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	$ 113,185	$ 61,747	$ 420,077	$ 230,365
Leasing revenues	70	147	1,652	1,124
Total revenues	113,255	61,894	421,729	231,489
Railcar Sales [Member]
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	109,010	58,407	405,684	220,752
Parts Sales [Member]
Disaggregation of Revenue [Line Items]
Revenues from contracts with customers	$ 4,175	$ 3,340	$ 14,393	$ 9,613

Segment Information (Narrative)

Segment Information (Narrative) (Details)	9 Months Ended
	Sep. 30, 2024 Segment
Segment Reporting [Abstract]
Number of operating segments	2
Number of reportable segments	1

Segment Information (Schedule o

Segment Information (Schedule of Segment Reporting Information, by Segment) (Details) - USD ($) $ in Thousands		3 Months Ended		9 Months Ended
		Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Segment Reporting Information [Line Items]
Revenues		$ 113,255	$ 61,894	$ 421,729	$ 231,489
Operating income (loss)		8,658	1,401	25,702	10,224
(Loss) gain on change in fair market value of Warrant liability		(110,040)	4,273	(125,581)	(1,869)
Loss on extinguishment of debt		0	0	0	(14,880)
Consolidated other expense		(680)	(228)	(1,419)	(333)
Litigation settlement				3,214
Restructuring and impairment charges					622
Operating Segments [Member]
Segment Reporting Information [Line Items]
Revenues		113,255	61,894	421,729	231,489
Operating income (loss)		8,658	1,401	25,702	10,224
Consolidated interest expense		(1,577)	(2,037)	(5,815)	(12,988)
(Loss) gain on change in fair market value of Warrant liability		(110,040)	4,273	(125,581)	(1,869)
Loss on extinguishment of debt		0	0	0	(14,880)
Consolidated other expense		(680)	(228)	(1,419)	(333)
Consolidated (loss) income before income taxes		(103,639)	3,409	(107,113)	(19,846)
Depreciation and amortization		1,442	1,085	4,252	3,189
Capital expenditures		1,462	4,017	3,731	8,971
Operating Segments [Member] | Manufacturing [Member]
Segment Reporting Information [Line Items]
Revenues		109,080	58,554	407,336	221,877
Operating income (loss)	[1]	13,823	7,378	40,816	24,775
Depreciation and amortization		1,331	942	3,906	2,763
Capital expenditures		1,277	3,989	3,485	8,815
Operating Segments [Member] | Corporate and Other [Member]
Segment Reporting Information [Line Items]
Revenues		4,175	3,340	14,393	9,612
Operating income (loss)	[2]	(5,165)	(5,977)	(15,114)	(14,551)
Depreciation and amortization		111	143	346	426
Capital expenditures		$ 185	$ 28	$ 246	$ 156
[1] Results for the nine months ended September 30, 2024 include a litigation settlement, of which $ 1,386 was allocated to leasing revenues and $ 3,214 was allocated to litigation settlement. Results for the nine months ended September 30, 2023 include a gain on sale of railcars available for lease of $ 622 . Results for the three and nine months ended September 30, 2023 include a loss on pension settlement of $ 313 .

Segment Information - (Schedule

Segment Information - (Schedule of Segment Reporting Information, by Segment) (Parenthetical) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Segment Reporting [Abstract]
Allocated leasing revenue			$ 1,386
Litigation settlement			$ 3,214
Restructuring and impairment charges				$ 622
Loss on pension settlement	$ 0	$ 313		$ 313

Segment Information (Reconcilia

Segment Information (Reconciliation of Assets from Segment to Consolidated) (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Segment Reporting Information [Line Items]
Total assets	$ 245,949	$ 259,459
Operating Segments [Member]
Segment Reporting Information [Line Items]
Total operating assets	242,989	258,251
Consolidated income taxes receivable	2,960	1,208
Total assets	245,949	259,459
Operating Segments [Member] | Manufacturing [Member]
Segment Reporting Information [Line Items]
Total operating assets	187,001	207,093
Operating Segments [Member] | Corporate and Other [Member]
Segment Reporting Information [Line Items]
Total operating assets	$ 55,988	$ 51,158

Segment Information (Geographic

Segment Information (Geographic Information) (Details) - USD ($) $ in Thousands		3 Months Ended		9 Months Ended
		Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023	Dec. 31, 2023
Segment Reporting Information [Line Items]
Revenues		$ 113,255	$ 61,894	$ 421,729	$ 231,489
Operating Segments [Member]
Segment Reporting Information [Line Items]
Revenues		113,255	61,894	421,729	231,489
Long Lived Assets	[1]	76,798		76,798		$ 77,203
Operating Segments [Member] | United States [Member]
Segment Reporting Information [Line Items]
Revenues		113,255	61,894	421,729	231,489
Long Lived Assets	[1]	4,090		4,090		7,377
Operating Segments [Member] | Mexico [Member]
Segment Reporting Information [Line Items]
Revenues		0	$ 0	0	$ 0
Long Lived Assets	[1]	$ 72,708		$ 72,708		$ 69,826
[1] Long lived assets include property plant and equipment, net, railcars available for lease, net, and right-of-use (ROU) assets.

Fair Value Measurements (Narrat

Fair Value Measurements (Narrative) (Details) - Fair Value, Inputs, Level 2 [Member] - $ / shares	Sep. 30, 2024	Dec. 31, 2023
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Warrant Exercise price	$ 0.01	$ 3.57
Common stock, par value	$ 0.01	$ 0.01

Fair Value Measurements (Fair V

Fair Value Measurements (Fair Value, Assets Measured on Recurring Basis and Non-Recurring Basis) (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets held for sale	$ 629	$ 0
Fair Value, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Foreign currency derivative liability	1,784
Foreign currency derivative asset		606
Warrant liability	162,382	36,801
Fair Value, Nonrecurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets held for sale	629
Railcars available for lease, net		2,842
Fair Value, Inputs, Level 1 [Member] | Fair Value, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Foreign currency derivative liability	0
Foreign currency derivative asset		0
Warrant liability	0	0
Fair Value, Inputs, Level 1 [Member] | Fair Value, Nonrecurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets held for sale	0
Railcars available for lease, net		0
Fair Value, Inputs, Level 2 [Member] | Fair Value, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Foreign currency derivative liability	1,784
Foreign currency derivative asset		606
Warrant liability	162,382	36,801
Fair Value, Inputs, Level 2 [Member] | Fair Value, Nonrecurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets held for sale	0
Railcars available for lease, net		0
Fair Value, Inputs, Level 3 [Member] | Fair Value, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Foreign currency derivative liability	0
Foreign currency derivative asset		0
Warrant liability	0	0
Fair Value, Inputs, Level 3 [Member] | Fair Value, Nonrecurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets held for sale	$ 629
Railcars available for lease, net		$ 2,842

Restricted Cash (Details)

Restricted Cash (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Restricted Cash and Cash Equivalents Items [Line Items]
Total restricted cash	$ 3,685	$ 705
Restricted Cash from Customer Deposit [Member]
Restricted Cash and Cash Equivalents Items [Line Items]
Total restricted cash	282	282
Restricted Cash to Collateralize Standby Letters of Credit [Member]
Restricted Cash and Cash Equivalents Items [Line Items]
Total restricted cash	103	103
Restricted Cash to Collateralize Foreign Currency Derivatves [Member]
Restricted Cash and Cash Equivalents Items [Line Items]
Total restricted cash	$ 3,300	$ 320

Inventories (Schedule of Invent

Inventories (Schedule of Inventory Current) (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Inventory Disclosure [Abstract]
Raw materials	$ 65,913	$ 65,639
Work in process	6,961	31,138
Finished railcars	6,329	23,196
Parts inventory	5,609	5,049
Total inventories, net	$ 84,812	$ 125,022

Inventories (Narrative) (Detail

Inventories (Narrative) (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Inventory Disclosure [Abstract]
Inventory valuation reserves	$ 1,918	$ 1,594

Product Warranties - Changes in

Product Warranties - Changes in Warranty Reserve (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023
Product Warranties Disclosures [Abstract]
Balance at the beginning of the year	$ 1,602	$ 1,940
Current year provision	511	663
Reductions for payments, costs of repairs and other	(340)	(852)
Adjustments to prior warranties	(280)	(113)
Balance at the end of the period	$ 1,493	$ 1,638

Revolving Credit Facility (Addi

Revolving Credit Facility (Additional Information) (Details) - USD ($) $ in Thousands		9 Months Ended
	Oct. 30, 2024	Sep. 30, 2024	Dec. 31, 2023
Line of Credit Facility [Line Items]
Long-Term Line of Credit		$ 0	$ 29,415
Debt Instrument, Maturity Date	The revolving line of credit was subsequently amended on October 30, 2024 to extend the maturity date from October 31, 2024 to December 31, 2024	October 31, 2024
Revolving loan, interest rate		1.50%
Debt Instrument, Interest Rate During Period		9.50%
Accounts Receivable Variable Interest rate		2%
Accounts Receivable Variable Interest Rate during Period		10%
Revolving Credit Facility [Member]
Line of Credit Facility [Line Items]
Long-Term Line of Credit		$ 41,373	$ 10,853
Letter of Credit [Member]
Line of Credit Facility [Line Items]
Aggregate principal amount	$ 20,000	25,000
Debt Instrument, Letter of credit, Revoked	25,000
Maximum [Member]
Line of Credit Facility [Line Items]
Aggregate principal amount		$ 45,000
Maximum [Member] | Letter of Credit [Member]
Line of Credit Facility [Line Items]
Aggregate principal amount	$ 45,000

Debt Financing and Revolving Cr

Debt Financing and Revolving Credit Facilities (Narrative) (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023	Dec. 31, 2023	May 31, 2023
Line of Credit Facility [Line Items]
Common stock, par value	$ 0.01		$ 0.01		$ 0.01
Preferred stock, par value	$ 0.01		$ 0.01		$ 0.01
Gain on extinguishment of debt	$ 0	$ 0	$ 0	$ (14,880)
Revolving loan, interest rate			1.50%
Long-Term Line of Credit	$ 0		$ 0		$ 29,415
Common stock	18,884,838		18,884,838		17,903,437
Current portion of long-term debt	$ 0		$ 0		$ 29,415
Revolving Credit Facility [Member]
Line of Credit Facility [Line Items]
Long-Term Line of Credit	41,373		41,373		$ 10,853
Maximum
Line of Credit Facility [Line Items]
Aggregate principal amount	$ 45,000		$ 45,000
Series C Preferred Stock [Member]
Line of Credit Facility [Line Items]
Preferred stock, shares issued	85,412		85,412		85,412	85,412
Preferred stock, par value	$ 0.01		$ 0.01		$ 0.01	$ 0.01

Debt Financing and Revolving _2

Debt Financing and Revolving Credit Facilities (Long-Term Debt) (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Debt Instrument [Line Items]
Less amounts due within one year	$ 0	$ (29,415)

Debt Financing and Revolving _3

Debt Financing and Revolving Credit Facilities (Fair Value of Warrant) (Details) $ in Thousands	Sep. 30, 2024 USD ($)
Debt Disclosure [Abstract]
Warrant liability beginning	$ 36,801
Warrant liability ending	$ 162,382

Warrants (Additional Informatio

Warrants (Additional Information) (Details) - USD ($) $ / shares in Units, $ in Thousands	9 Months Ended
	Sep. 30, 2024	Dec. 31, 2023	May 31, 2023
Class of Warrant or Right [Line Items]
Common stock, shares issued	18,884,838	17,903,437
Warrant liability	$ 162,382	$ 36,801
2023 Warrant
Class of Warrant or Right [Line Items]
Warrant Exercise price	$ 3.57
Warrants term	10 years
Warrants issued to purchase common stock			1,636,313
2022 Warrant
Class of Warrant or Right [Line Items]
Percentage of oustanding common shares	5%
Warrant Exercise price	$ 0.01
Warrants term	10 years
Common stock, shares issued	2,065,689	1,894,047
2021 Warrant
Class of Warrant or Right [Line Items]
Percentage of oustanding common shares	5%
Warrant Exercise price	$ 0.01
Warrants term	10 years
Common stock, shares issued	2,065,689	1,894,047
2020 Warrant
Class of Warrant or Right [Line Items]
Percentage of oustanding common shares	23%
Warrant Exercise price	$ 0.01
Warrants term	10 years
Common stock, shares issued	9,502,172	8,712,618

Mezzanine Equity (Additional In

Mezzanine Equity (Additional Information) (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023	Dec. 31, 2023	May 31, 2023
Class of Stock [Line Items]
Preferred stock, par value	$ 0.01		$ 0.01		$ 0.01
Preferred Stock [Member]
Class of Stock [Line Items]
Preferred stock, dividend rate			0.50%
Stock issuance costs			$ 2,301
Amortization of discount	$ 144	$ 146	$ 431	$ 203
Series C Preferred Stock [Member]
Class of Stock [Line Items]
Preferred stock, shares issued	85,412		85,412		85,412	85,412
Preferred stock, shares outstanding	85,412		85,412		85,412
Preferred stock, par value	$ 0.01		$ 0.01		$ 0.01	$ 0.01
Preferred stock, initial stated value						$ 85,412
Preferred stock, initial fair value, per share						$ 1,000
Preferred stock, dividend rate			17.50%

Accumulated Other Comprehensi_3

Accumulated Other Comprehensive Income (Schedule of Changes in Accumulated Other Comprehensive Income (Loss)) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended	9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Jun. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Accumulated Other Comprehensive Income (Loss) [Line Items]
Other Comprehensive Income (Loss), Net of Tax, Total	$ (1,084)	$ (920)	$ (997)	$ 2,281
Reclassification out of Accumulated Other Comprehensive Income [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Loss on pension settlement pre Tax		886			$ 963
Loss on pension settlement After Tax		886			963
Unrealized {loss} gain on foreign currency derivatives	(1,123)			(2,390)
Unrealized gain (loss) on foreign currency derivatives, after Tax	(1,123)	(34)		(2,390)	(34)
Unrealized gain on foreign currency derivatives, before Tax		34			34
Other Comprehensive Income (Loss), before Tax, Total	(1,084)	920		(2,281)	997
Other Comprehensive Income (Loss), Net of Tax, Total	(1,084)	920		(2,281)	997
Reclassification out of Accumulated Other Comprehensive Income [Member] | Accumulated Defined Benefit Plans Adjustment, Net Gain (Loss) Attributable to Parent [Member] | Pension Benefits [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Loss on pension settlement pre Tax		313			313
Loss on pension settlement After Tax		313			313
Pre-Tax	39	573		109	650
After-Tax	$ 39	$ 573		$ 109	$ 650

Accumulated Other Comprehensi_4

Accumulated Other Comprehensive Income (Components of Accumulated Other Comprehensive Income) (Details) - USD ($) $ in Thousands	9 Months Ended	12 Months Ended
	Sep. 30, 2024	Dec. 31, 2023	Jun. 30, 2024	Sep. 30, 2023	Jun. 30, 2023	Dec. 31, 2022
Accumulated Other Comprehensive Income (Loss) [Line Items]
Unrecognized pension income, net of tax	$ (156,317)	$ (46,206)	$ (48,829)	$ (44,269)	$ (48,954)	$ (28,584)
Accumulated Defined Benefit Plans Adjustment Including Portion Attributable to Noncontrolling Interest [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Unrecognized pension income, net of tax	1,868	1,759
Unrealized loss on foreign currency derivatives	(1,784)	606
Accumulated Other Comprehensive Income	$ 84	$ 2,365

Accumulated Other Comprehensi_5

Accumulated Other Comprehensive Income (Components of Accumulated Other Comprehensive Income) (Parenthetical) (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Pension Benefits [Member] | Accumulated Defined Benefit Plans Adjustment Including Portion Attributable to Noncontrolling Interest [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Accumulated other comprehensive loss, tax	$ 6,282	$ 6,282

Stock-Based Compensation (Narra

Stock-Based Compensation (Narrative) (Details) - USD ($) $ in Thousands	1 Months Ended	3 Months Ended		9 Months Ended
	Jun. 30, 2023	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Stock-based compensation recognized		$ 804	$ 715	$ 2,330	$ 524
Inducement Options [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Unearned compensation related to options		172		$ 172
Remaining service period				21 months
Inducement Options [Member] | The Freightcar America Inc [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Granted	300,000
Restricted Stock [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Unearned compensation related to options		2,064		$ 2,064
Remaining requisite service period				21 months
Time-Vested Stock Options [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Unearned compensation related to options		1,751		$ 1,751
Remaining service period				23 months
Cash Settled Stock [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Unearned compensation		$ 0		$ 0

Employee Benefit Plans (Narrati

Employee Benefit Plans (Narrative) (Details) - Pension Benefits [Member] - USD ($) $ in Thousands	Sep. 30, 2024	Sep. 30, 2023
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Contributions to pension plan	$ 0	$ 0
Expected total contributions for current fiscal year	$ 0

Employee Benefit Plans (Compone

Employee Benefit Plans (Components of Net Periodic Benefit Cost) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Interest cost	$ 130	$ 151	$ 399	$ 453
Defined Benefit Plan, Net Periodic Benefit Cost (Credit), Interest Cost, Statement of Income or Comprehensive Income [Extensible Enumeration]	Comprehensive Income (Loss), Net of Tax, Attributable to Parent	Comprehensive Income (Loss), Net of Tax, Attributable to Parent	Comprehensive Income (Loss), Net of Tax, Attributable to Parent	Comprehensive Income (Loss), Net of Tax, Attributable to Parent
Expected return on plan assets	$ (70)	$ (83)	$ (220)	$ (250)
Defined Benefit Plan, Net Periodic Benefit (Cost) Credit, Expected Return (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration]	Comprehensive Income (Loss), Net of Tax, Attributable to Parent	Comprehensive Income (Loss), Net of Tax, Attributable to Parent	Comprehensive Income (Loss), Net of Tax, Attributable to Parent	Comprehensive Income (Loss), Net of Tax, Attributable to Parent
Amortization of unrecognized net income	$ 39	$ 38	$ 109	$ 115
Defined Benefit Plan, Net Periodic Benefit (Cost) Credit, Amortization of Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration]	Comprehensive Income (Loss), Net of Tax, Attributable to Parent	Comprehensive Income (Loss), Net of Tax, Attributable to Parent	Comprehensive Income (Loss), Net of Tax, Attributable to Parent	Comprehensive Income (Loss), Net of Tax, Attributable to Parent
Loss on pension settlement	$ 0	$ 313	$ 0	$ 313
Total net periodic benefit cost	$ 99	$ 419	$ 288	$ 631

Derivatives (Additional Informa

Derivatives (Additional Information) (Details)	9 Months Ended
	Sep. 30, 2024
Foreign Currency [Abstract]
Description Of Contract	The contracts have terms between one and 12 months and require the Company to exchange currencies at agreed-upon rates at each settlement date.

Derivatives - Schedule of Notio

Derivatives - Schedule of Notional Amounts of Outstanding Foreign Currency Derivatives (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Derivative Instruments Designated as Hedges [Member]
Foreign Currency Fair Value Hedge Derivative [Line Items]
Notional Amount	$ 25,281	$ 11,562

Derivatives - Schedule of Fair

Derivatives - Schedule of Fair Value of Outstanding Foreign Currency Derivatives Designated as Hedges (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Other current liabilities:
Foreign Currency Fair Value Hedge Derivative [Line Items]
Fair Value	$ 1,784	$ 0
Prepaid expenses:
Foreign Currency Fair Value Hedge Derivative [Line Items]
Fair Value	$ 0	$ 606

Derivatives - Schedule of Pre-t

Derivatives - Schedule of Pre-tax Realized Gain on Foreign Currency Derivatives (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Foreign Currency Fair Value Hedge Derivative [Line Items]
Unrealized Loss/(Gain) on foreign currency derivatives, before Tax	$ (1,123)	$ 34	$ (2,390)	$ 34
Gain (Loss) on Derivative Instruments [Member]
Foreign Currency Fair Value Hedge Derivative [Line Items]
Unrealized Loss/(Gain) on foreign currency derivatives, before Tax	$ 72	$ (8)	$ (449)	$ (8)

Loss Per Share (Weighted Averag

Loss Per Share (Weighted Average Common Shares Outstanding) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Earnings Per Share [Abstract]
Net loss	$ (107,046)	$ 3,193	$ (110,440)	$ (20,733)
Accretion of financing fees	(144)	(146)	(431)	(203)
Accrued dividends on Series C Preferred Stock	(4,676)	(3,923)	(13,340)	(5,535)
Net loss available to common stockholders - basic	(111,866)	(876)	(124,211)	(26,471)
Net loss available to common stockholders - diluted	$ (111,866)	$ (876)	$ (124,211)	$ (26,471)
Weighted average common shares outstanding	17,633,629	17,044,251	17,433,479	16,937,968
Issuance of Warrants	13,720,368	12,499,712	13,086,066	11,126,442
Weighted average common shares outstanding - basic	31,353,997	29,543,963	30,519,545	28,064,410
Weighted average common shares outstanding - diluted	31,353,997	29,543,963	30,519,545	28,064,410

Loss Per Share (Narrative) (Det

Loss Per Share (Narrative) (Details) - shares	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Earnings Per Share [Abstract]
Anti-dilutive common shares excluded from computation of earnings per share amount	2,058,180	6,222,085	3,119,672	5,996,646

Restructuring and Impairment Ch

Restructuring and Impairment Charges (Narrative) (Details) $ in Thousands	9 Months Ended
	Sep. 30, 2023 USD ($)
Restructuring Cost and Reserve [Line Items]
Restructuring and impairment charges	$ 622

Related Parties (Narrative) (De

Related Parties (Narrative) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023	Dec. 31, 2023
Related Party Transaction [Line Items]
Related party asset	$ 936		$ 936		$ 638
Related party accounts payable	2,493		$ 2,493		2,478
Fasemex [Member]
Related Party Transaction [Line Items]
Percentage of common stock outstanding			10.30%
Gil Family [Member]
Related Party Transaction [Line Items]
Operating costs and expenses	6,058	$ 3,909	$ 20,711	$ 13,675
Related party asset					517
Other assets	682		682
Related party accounts payable	2,493		$ 2,493		2,478
Commercial Specialty Truck Holdings Csth [Member]
Related Party Transaction [Line Items]
Percentage of common stock outstanding			5%
Specialty parts supplies	268	$ 0	$ 683	$ 0
Related party asset	$ 254		$ 254		$ 121

Income Taxes (Additional Inform

Income Taxes (Additional Information) (Details)	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Income Tax [Line Items]
Effective income tax rate	(3.30%)	6.30%	(3.10%)	(4.50%)
Statutory tax rate			21%