Welcome to our dedicated page for Nfi Group news (Ticker: NFYEF), a resource for investors and traders seeking the latest updates and insights on Nfi Group stock.
NFI Group Inc. (NFYEF) generates frequent news as a propulsion-agnostic bus and coach manufacturer serving mass mobility markets. Company updates often highlight developments in low- and zero-emission buses and coaches, infrastructure and technology initiatives, and activity across its brands, including New Flyer, MCI, Alexander Dennis, Plaxton, ARBOC, and NFI Parts.
Investors and transit industry followers can use this page to review operational updates, contract awards, facility developments, and corporate actions. Recent announcements have included orders for Xcelsior compressed natural gas transit buses, the opening of an Alexander Dennis manufacturing facility in Las Vegas dedicated to Enviro500 double-deck buses, and a joint venture with GILLIG LLC to acquire the assets of American Seating Inc. to strengthen seat supply for transit, motorcoach, and rail applications.
NFI also reports on financial results and capital structure changes, such as quarterly earnings releases, backlog and order metrics, and refinancing activities involving first lien credit facilities and second lien secured notes. These updates provide context on manufacturing and aftermarket segment performance, supply chain conditions, and the share of zero-emission buses in deliveries and backlog.
Other notable news items include information on a North American battery recall affecting certain electric buses equipped with XALT Energy batteries, along with a master settlement agreement intended to support recall costs and expand NFI’s zero-emission platform. Governance and ownership developments, such as amendments to the investment agreement with Coliseum Capital Management, LLC, and CEO transition announcements, are also covered.
By following this NFYEF news feed, readers can track how NFI executes its propulsion-agnostic strategy, manages supply chain and technology issues, and responds to market demand for buses and coaches in North America, the United Kingdom, and other regions where its brands operate.
NFI Group Inc. (NFYEF), a leader in propulsion-agnostic bus and coach mobility solutions, has announced the successful election of ten directors to its Board at the annual and special meeting of shareholders held on May 9, 2025. The election saw strong shareholder support, with all nominees receiving over 90% approval. Katherine Winter received the highest approval rate at 99.13%, while Adam Gray received the lowest but still substantial support at 91.38%.
NFI Group Inc. (TSX: NFI, OTC: NFYEF) announced key changes to its Board leadership. Colin Robertson, previously Vice Chair of the Board, has been appointed as the new Board Chair, replacing Chan Galbato who stepped down to pursue other opportunities. Larry Edwards will take on the role of Lead Independent Director.
Robertson, who has served on NFI's Board since 2020, brings over 30 years of global manufacturing and leadership experience, including 13 years as CEO of Alexander Dennis (acquired by NFI in 2019). His previous executive roles include positions at Cummins Inc. and Terex
Following Galbato's departure, his nomination has been withdrawn from the upcoming shareholder meeting, where the company will proceed with ten other director candidates.
NFI Group Inc. (NFYEF) has announced key upcoming events for Q1 2025. The company will release its first quarter 2025 financial results on Thursday, May 8, 2025, after market close, followed by a conference call and webcast on Friday, May 9, 2025, at 8:30 a.m. ET.
The company's Annual and Special Meeting of Shareholders is scheduled for May 9, 2025 at 12:00 p.m. ET, to be held both in-person in Winnipeg, Manitoba, and virtually. NFI has nominated eleven current Board members for re-election, including Chair Chan Galbato and CEO Paul Soubry.
NFI Group Inc. (NFYEF) has secured new orders through its subsidiary New Flyer for 117 buses from the Maryland Transit Administration. The orders include:
- 87 Xcelsior 40-foot hybrid-electric buses
- 20 Xcelsior CHARGE NG 40-foot battery-electric buses
- 10 Xcelsior CHARGE NG 60-foot battery-electric buses
These orders, totaling 127 equivalent units (EUs), were awarded across Q4 2024 and Q1 2025. The Maryland Transit Authority, which provides over 75 million passenger trips annually in the Baltimore region, has received more than 1,200 buses from NFI over the past 30 years. The new fleet combines hybrid and battery-electric technologies, offering emission reduction benefits and operational efficiency through parts commonality across the Xcelsior platform.
NFI Group reported strong Q4 and fiscal 2024 results with significant improvements across key metrics. Q4 highlights include revenue of $837.0 million (up 5.1% year-over-year), net earnings of $18.6 million (a $20.9 million increase), and Adjusted EBITDA of $67.9 million (up 76.4%).
The company achieved a record backlog of $12.8 billion, representing 15,135 equivalent units (EUs), with zero-emission buses (ZEBs) comprising 40.3% of total backlog. Q4 deliveries reached 1,180 EUs, with 26.1% being ZEBs. The Aftermarket segment posted record performance with Q4 revenue of $157.1 million, up 15.8%.
Total liquidity stood at $126.8 million, down $19.0 million from Q3. The company faces ongoing seat supply disruption challenges but expects improvements through first half of 2025. For fiscal 2025, NFI anticipates delivering at least 5,000 EUs and continues to see strong market demand, particularly in North American public transit.
NFI Group Inc. (NFYEF) announced that its subsidiary New Flyer has received an order from the San Francisco Municipal Transportation Agency (SFMTA) for 42 Xcelsior® 40-foot hybrid buses. The order, included in NFI's Q4 2024 backlog, complies with Buy America requirements supporting U.S. manufacturing jobs.
SFMTA's Muni system, serving approximately 500,000 daily boardings with 158 million passenger boardings in 2024, operates a diverse fleet including hybrid buses, trolleys, battery-electric buses, street cars, light rail vehicles, and cable cars. New Flyer has delivered over 700 buses to SFMTA in the past decade.
The new hybrid-electric buses will replace aging vehicles, featuring advanced technology to enhance efficiency, power, and performance while reducing greenhouse gas emissions and fuel consumption.
NFI Group Inc. (NFYEF) has secured a significant contract from the Orange County Transportation Authority (OCTA) for 50 zero-emission buses through its subsidiary New Flyer of America. The order includes 40 Xcelsior CHARGE FC™ hydrogen fuel cell-electric buses and 10 Xcelsior CHARGE NG™ battery-electric buses.
The units were added to NFI's Q4 2024 backlog and are supported by Federal Transit Administration and local funding. OCTA, which serves 3.2 million residents across 34 cities and provides over 33 million passenger trips annually, has previously implemented hydrogen fuel cell-electric and battery-electric pilot programs with New Flyer buses in 2020 and 2022 respectively.
Notably, OCTA has constructed the largest hydrogen fueling station for transit buses in the United States, demonstrating their commitment to sustainable transportation.