* FreightCar America updated FY2026 guidance for 3,500-3,900 railcar deliveries, revenue of $410-$460 million, adjusted EBITDA of $36-$44 million. * Midpoint implies year-over-year declines of 10.3% in deliveries, 13.2% in revenue, 2.9% in adjusted EBITDA. * 2Q26 results showed revenue of $113.1 million on 927 deliveries; aftermarket revenue rose 13% to $8.9 million. * 2Q26 gross margin fell 957 bps to 5.5% on lower volumes; results included $2.2 million of workforce realignment costs. * Management flagged 2Q26 as the year’s low point; profitability expected to improve sequentially as backlog converts.