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. reports developments tied to its bus and coach manufacturing business and its aftermarket parts and service operations. News commonly covers orders from public transit agencies for platforms such as Alexander Dennis Enviro500 double-deck buses and New Flyer Xcelsior compressed natural gas transit buses, along with backlog, production-rate, supply-chain and fleet-modernization updates.
Company updates also include quarterly and annual financial results, guidance commentary, manufacturing footprint actions, leadership changes within operating businesses such as Motor Coach Industries, and shareholder meeting matters including director elections.
New Flyer Industries Canada, a subsidiary of NFI Group, has announced a contract with BC Transit for the purchase of 33 next-generation Xcelsior CHARGE NG™ 40-foot battery-electric buses. This contract adds to New Flyer's firm backlog in Q2 2024. BC Transit, which serves over 130 communities in British Columbia and aims for a fully electric fleet by 2040, will integrate these buses as part of its Low Carbon Fleet Program. The partnership between NFI and BC Transit spans over 45 years, with more than 600 NFI vehicles currently in BC Transit's fleet. The new buses incorporate advanced technologies, including high-energy batteries and a lightweight electric traction drive system.
NFI Group Inc.'s subsidiary, New Flyer, has been awarded a contract by the New Jersey Transit for up to 1,300 Xcelsior® 40-foot clean-diesel transit buses. The contract includes an initial firm order for 175 buses with the option to purchase up to 1,125 more. These buses offer enhanced safety, efficiency, and rider experience, replacing end-of-life vehicles in NJ TRANSIT's fleet. The Xcelsior buses are environmentally friendly, meeting stringent emission standards, and supporting sustainable mobility solutions.
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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