By Connor Hart
Shares of FreightCar America climbed after the company said it agreed a new multi-year order for 1,900 railcars, as demand for its products continues to grow.
The stock rose 3.7%, to $9.30, in premarket trading Monday. Through Friday's close, shares are down about 18% year to date.
The company said the new order consists of scheduled deliveries through 2028.
FreightCar didn't disclose the company it entered the agreement with but described it as "a key customer."
Second-quarter orders totaled about 3,000 railcars, valued at roughly $300 million. The company noted broad-based demand and product diversity, with multiple first-time customer orders as well as meaningful repeat customer activity.
Chief Executive Nick Randall said customers are increasingly choosing FreightCar America.
"With approximately 3,000 railcars ordered in the quarter, we are seeing an inflection point in terms of commercial momentum across our differentiated product portfolio," he said.
Write to Connor Hart at connor.hart@wsj.com