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NFI Group Inc (NFYEF) drives innovation in sustainable mass transit as a leading manufacturer of electric and hydrogen-powered buses. This news hub provides investors and industry professionals with timely updates on the company’s technological advancements, strategic partnerships, and market developments.
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Explore updates across core areas: fuel cell technology integrations, new vehicle deployments, regulatory compliance developments, and strategic expansions. Each update is verified for accuracy to support informed decision-making.
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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Following Galbato's departure, his nomination has been withdrawn from the upcoming shareholder meeting, where the company will proceed with ten other director candidates.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.
NFI Group's subsidiary New Flyer has secured an order for 265 zero-emission buses from New York's Metropolitan Transit Authority (MTA). The order includes 193 Xcelsior CHARGE NG™ 40-foot buses and 72 Xcelsior CHARGE NG™ 60-foot buses, building upon MTA's previous order of 205 buses.
The MTA, which operates North America's largest transportation network serving 15.3 million people across 5,000 square miles, plans to transition its entire 5,800-bus fleet to zero-emission vehicles by 2040. This aligns with their goal to reduce operational greenhouse gas emissions by 85% from 2015 levels.
The Xcelsior CHARGE NG™ buses feature advanced technology including high-energy batteries, protective battery packaging, and an electric traction drive system with up to 90% energy recovery. NFI currently has electric vehicles operating or on order in over 150 cities across six countries.
NFI Group's subsidiary New Flyer has secured a significant contract with the Washington Metropolitan Area Transit Authority (Metro) for up to 500 Xcelsior buses. The initial firm order includes 75 hybrid-electric 40-foot transit buses and 25 Xcelsior CHARGE NG™ 35-foot battery-electric buses, with options for 400 additional buses.
Metro serves over six million people across the National Capital Region, operating a 1,500-bus fleet 24/7. The contract features flexible pricing and delivery timelines to address potential supply chain challenges. This builds on a 30-year partnership between New Flyer and Metro.
NFI maintains a strong presence in zero-emission mobility, with electric vehicles operating or ordered in more than 150 cities across six countries. Their vehicles have completed over 220 million EV service miles, and the company operates the Vehicle Innovation Center, which has hosted over 470 interactive events and trained 10,600 industry professionals.
NFI Group, a leading bus and coach manufacturer specializing in zero-emission electric mass mobility solutions, has announced its schedule for the release of fourth quarter and full year 2024 financial results. The company will release its financial results on Thursday, March 13, 2025, after market close.
A conference call and webcast to discuss the results will be held on Friday, March 14, at 8:30 a.m. ET. The company encourages attendance via webcast, where a results presentation will be shown and participants can submit questions to management. The presentation will be available on NFI's website.
Webcast attendees don't need to register, while phone participants must pre-register through a provided link. A replay will be accessible from March 14, 2025, until March 13, 2026.
NFI Group's subsidiary Motor Coach Industries (MCI) has secured a significant contract from Metrolinx, an Ontario government agency responsible for transportation in the Greater Toronto and Hamilton Area. The contract includes a firm order for 80 45-foot D45 CRT diesel commuter coaches with additional options, which have been added to NFI's fourth quarter 2024 backlog.
The agreement features a milestone billing payment structure to support working capital investments. Metrolinx, which operates GO Transit, UP Express, and the PRESTO payment network, will use these coaches to maintain their operational requirements. Multiple NFI subsidiaries currently serve Metrolinx's fleet, including Alexander Dennis double-deck buses, MCI motorcoaches, and vehicle support from NFI Parts.
