Nfi Group Inc - NFYEF STOCK NEWS

NFI Group Inc. (NFI), a leading independent bus and coach manufacturer specializing in zero-emission electric mass mobility solutions, has announced the release date for its third quarter 2024 financial results. The results will be made public on Wednesday, November 6, 2024 after market close. A conference call and webcast to discuss the results is scheduled for Thursday, November 7, at 9:00 a.m. ET.

Interested parties can join the webcast without registration at https://edge.media-server.com/mmc/p/oaotv724/. For those wishing to join by phone, the dial-in number is 1.888.596.4144 with Conference ID 2577984. NFI recommends joining via webcast to view the results presentation and submit questions. The presentation will also be available on NFI's website. A replay of the call will be accessible from about 12:00 p.m. ET on November 7, 2024, until November 6, 2025.

NFI Group Inc.'s subsidiary Alexander Dennis has secured an order for 32 Enviro100EV small electric buses from Go-Ahead London, marking the second deal for next-generation electric buses in the capital. These compact buses, measuring 8.5m in length and 2.35m in width, are designed for narrow streets and housing estates, accommodating up to 41 passengers.

The buses will operate on TfL services from Go-Ahead London's Orpington Garage, serving routes R1, R3, R4, R8, and 233. Equipped with 354kWh batteries and the Voith Electrical Drive System, they offer long operating lives without battery replacement. Delivery is expected in early 2025, contributing to London's goal of a 100% zero-emission bus fleet by 2030.

NFI Group Inc. announced that its Board Chair, Wendy Kei, has received the Women Corporate Directors (WCD) Visionary Award for Strategic Leadership. The award recognizes a current woman CEO or board chair who demonstrates leadership through innovation, board diversity, and strategic growth while mentoring female employees. Kei was honored at WCD's annual Visionary Awards Celebration in Orlando, Florida.

Paul Soubry, NFI's President and CEO, praised Kei's instrumental role in guiding the company through challenging times and supporting its operational and financial recovery since joining the board in 2022. Kei also serves as Board Chair for Ontario Power Generation Inc. and has received numerous accolades, including being named a Fellow of the Institute of Corporate Directors and one of Canada's Top 100 Most Powerful Women.

NFI Group Inc.'s subsidiary New Flyer has been named the partner of choice for over $338 million in FTA Low- or No-Emission and Buses and Bus Facilities grants for 2024. This represents a 60% increase from the previous year. The grants, totaling nearly $1.5 billion, were awarded to 117 projects across 47 states, funding approximately 1,150 buses and related infrastructure.

The USDOT prioritized proposals with healthy contracting provisions and reduced customization. New Flyer's partners have shown increased confidence, outpacing last year's awards by over $120 million. NFI continues to lead in zero-emission mobility, with electric vehicles operating or on order in more than 150 cities across six countries, having completed over 195 million EV service miles.

NFI Group Inc. reported positive Q2 2024 results, marking its first profitable quarter since Q2 2021. Key highlights include:

- Revenue of $851 million, up 29% year-over-year
- Delivered 1,246 equivalent units, a 34% increase
- Net earnings of $3 million, or $0.02 per share
- Adjusted EBITDA of $59 million, up 387%
- Free Cash Flow of $1.1 million
- Total backlog of 14,605 units valued at $11.8 billion

NFI reaffirmed its 2024 guidance, including Adjusted EBITDA range of $240-$280 million, and its 2025 Adjusted EBITDA target of over $350 million. The company saw improvements in manufacturing and aftermarket segments, with record quarterly aftermarket revenue of $162 million.

NFI Group's subsidiary, Alexander Dennis, has secured its first order from Stagecoach for 41 next-generation electric buses. The order includes 24 Enviro100EV small buses and 17 Enviro400EV double-deckers, which will be deployed in London in early 2025. These buses meet Transport for London’s (TfL) latest Bus Safety Standards and offer energy efficiency rates of 0.67kWh/km for the Enviro400EV and 0.54kWh/km for the Enviro100EV. Designed for lower cost of ownership, they promise a longer operational lifespan without the need for battery replacement during two full TfL route contract terms. This order aligns with London's goal of achieving a zero-emission bus fleet and supports job creation across the UK.

NFI Group, a leading bus and coach manufacturer and electric mass mobility solutions provider, has announced the release date for its second quarter 2024 financial results. The financial results will be published on July 31, 2024, after market close. Following this, a conference call and webcast to discuss the results will take place on August 1, 2024, at 8:30 a.m. ET. The webcast can be accessed without registration, and a results presentation will be available at www.nfigroup.com. Attendees can also join via phone by pre-registering through a provided link. A replay of the call will be accessible from 12:00 p.m. ET on August 1, 2024, to 11:59 p.m. ET on August 1, 2025. Additional materials will be available on NFI's website.

NFI Group subsidiary Alexander Dennis has secured a significant order from Stagecoach for 244 zero-emission buses, marking the largest single order of its kind. This order comes after Stagecoach's successful bids to the UK's Zero-Emission Regional Bus Areas scheme (ZEBRA 2), supported by various local authorities in England. The order includes 180 Enviro400EV double deckers, 54 Enviro200EV single deckers, and 10 Enviro100EV small buses. These buses boast advanced energy efficiency and substantial operational ranges, contributing to an attractive total cost of ownership. Deliveries will occur in 2025 and 2026.

NFI subsidiary Alexander Dennis has confirmed an order from Reading Buses for 24 zero-emission and 29 low-emission buses, totaling 53 units. This includes 24 next-generation Enviro400EV electric double-deckers funded by the UK's ZEBRA 2 scheme and set to enter service in 2025. These units are noted for their energy efficiency, capable of storing up to 472kWh and achieving 1.6GWh energy throughput over eight years. Additionally, 29 low-emission buses will include 21 Enviro400 double-deckers and 8 Enviro200 single-deckers, slated for delivery later this year. The move aims to enhance service efficiency and reduce emissions on busy routes 17 and 21.