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. announced the election of a new director, Anne Marie O’Donovan, at the annual general meeting. She will also serve as the new chair of the Audit Committee. The other nine nominees listed in the management information circular were also elected as directors. The Board expresses confidence in NFI's management team and its position in the market.
NFI Group Inc. announced its first-quarter 2024 financial results, showcasing a revenue of $723 million, a record high backlog of 14,783 units valued at $11.7 billion, and a net loss of $9 million. Despite challenges like supply chain issues, the company remains optimistic about revenue growth and delivery improvements.
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