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'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.
NFI Group has announced strategic changes to its Board of Directors, appointing Chan Galbato as the new Board Chair, succeeding Wendy Kei. Additionally, Aziz Aghili and Maryse Saint-Laurent will join as directors, replacing Larry Edwards and Krystyna Hoeg who will retire at the next annual general meeting.
Galbato brings extensive operational leadership experience as former CEO of Cerberus Operations and Advisory Company, with expertise in manufacturing operations and supply chain optimization. His appointment comes at a important time as NFI aims to execute on its $12 billion backlog amid record demand for buses and coaches.
The new appointments strengthen the Board's expertise in manufacturing, supply chain management, human resources, and capital markets, positioning NFI to address industry-wide challenges while capitalizing on opportunities in zero-emission transportation.
NFI Group subsidiary Motor Coach Industries (MCI) has secured a contract with Houston's METRO for 100 MCI D45 CRT high-floor coaches. The contract initially included 50 firm coaches and 50 options, with METRO exercising the option for the additional 50 coaches in November 2024.
The coaches will serve METRO's Park & Ride service routes, connecting residents commuting from areas outside Houston's '610 Loop' to the downtown and central city. METRO serves Harris County with over 73 million annual passenger trips across various transit services. NFI and its subsidiaries have maintained a 30-year relationship with METRO, previously delivering over 500 coaches.
The MCI D-Series coaches feature stainless-steel frames, modern styling, and common systems aimed at reducing operating costs while enhancing passenger experience.
NFI Group reported third quarter 2024 results with revenue of $711 million and delivery of 994 equivalent units, including 24% zero-emission buses. The company achieved significant improvements with total gross margin of 12.2% and manufacturing gross margin of 7.5%. Record backlog reached $12 billion, up 53% with 14,590 equivalent units. Despite a net loss of $15 million ($0.13 per share), Adjusted EBITDA improved to $53 million with Free Cash Flow of $2 million. The aftermarket segment performed strongly with $153 million revenue. NFI updated its 2024 guidance, projecting Adjusted EBITDA of $210-240 million, while reaffirming 2025 target of over $350 million.
Ballard Power Systems has received a purchase order for 200 fuel cell engines from New Flyer, representing approximately 20 MW of power. This is the second order under their January 2024 long-term supply agreement, doubling the previous order of 100 engines. The engines, scheduled for delivery in 2025, will power New Flyer's Xcelsior CHARGE FC™ hydrogen fuel cell buses for deployment across multiple US states including California, Washington, Arizona, Nevada, and New York.
NFI Group announced an expansion of its Winnipeg manufacturing capability for complete production of heavy-duty transit buses in Canada. The project will increase production capacity by 240 equivalent units annually by 2027, focusing on zero-emission buses including battery-electric, fuel-cell electric, and trolley-electric vehicles. The initiative is supported by the Government of Manitoba with a C$10 million investment and PrairiesCan with a C$15 million repayable contribution. The expansion will create up to 250 new direct green jobs and includes facility upgrades, with construction starting immediately and first bus builds planned for Q4 2025.
NFI Group's subsidiary New Flyer has received a firm order from Regional Transit Service (RTS) for 44 Xcelsior clean-diesel heavy-duty transit buses. The order includes 24 40-foot buses and 20 60-foot buses, supported by federal, state, and local funding. The contract was added to New Flyer's backlog in Q3 2024. RTS, based in Rochester, New York, serves over 10 million annual passengers across eight counties. The order builds on a 25-year relationship during which New Flyer has delivered more than 200 buses to RTS. The Xcelsior buses comply with EPA and NHTSA's Heavy-Duty National Program for reducing greenhouse gas emissions.