NFI Group Inc. Reports Impressive Financial Results for 2024

Author: Hannah Lewis Updated: 03-13-2025 05:28 PM

Impressive Financial Performance by NFI Group Inc.

NFI Group Inc., known for its innovative approach in propulsion-agnostic bus and coach mobility solutions, has announced strong financial results for Fiscal 2024. This marks a significant year for the company, characterized by robust growth in various sectors.

Key Financial Highlights from Fourth Quarter

During the fourth quarter, NFI achieved a record backlog of $12.8 billion, showcasing a 61.2% increase from the previous year. Notably, net earnings for the quarter were $18.6 million, translating to earnings per share of $0.16. Total revenue reached $837 million, representing a 5.1% growth year-over-year. The gross margin also saw an uptick, totaling $92.3 million, with a margin percentage of 11.0%.

Deliveries and Earnings Breakdown

The company reported deliveries of 1,180 equivalent units (EUs) in this quarter, with over 26% being zero-emission vehicles (ZEBs). For the full fiscal year, Adjusted EBITDA amounted to $214.4 million, a significant increase compared to previous figures. NFI's commitment to sustainability and innovation is evident through its aggressive push towards electric and hybrid buses.

CEO Insights on Company Growth

Paul Soubry, President, and CEO of NFI, expressed pride in the company's accomplishments despite facing challenges related to supply disruption. The company's strategic recovery plan with suppliers is anticipated to enhance production efficiencies while minimizing inventory issues moving forward. NFI's strong orders for the upcoming years further illustrate their market resilience and customer trust.

Segment Performances and Market Outlook

The manufacturing segment saw revenue growth propelled by ZEB sales, which offer higher average pricing. Manufacturing net earnings increased significantly, reflecting a favorable sales mix and operational efficiencies. In contrast, the Aftermarket segment reported a heartening revenue increase of 15.8%, supported by volume and program revenues in public markets.

Future Projections and Company Strategy

Management is optimistic and anticipates continued growth driven by record new orders and rising public transit ridership. Expectations are set for robust performance in the first half of 2025, with NFI planning to enhance its offerings in the zero-emission sector while keeping a keen eye on market trends and economic conditions.

Guidance for Fiscal 2025

NFI has set its revenue guidance for 2025 between $3.8 billion to $4.2 billion. The target for electric buses as a percentage of manufacturing sales is anticipated to reach 35% to 40%. Adjusted EBITDA is projected to be in the range of $320 million to $360 million, showcasing a solid framework for driving profitability.

Frequently Asked Questions

What is NFI Group Inc. known for?

NFI Group Inc. specializes in providing innovative bus and coach mobility solutions, focusing on zero-emission vehicles and sustainable transportation.

What were NFI's financial highlights for Q4 2024?

The company reported a revenue of $837 million, net earnings of $18.6 million, and a backlog of $12.8 billion.

Who is the CEO of NFI Group Inc.?

Paul Soubry serves as the President and CEO of NFI Group Inc.

What growth strategy does NFI emphasize?

NFI emphasizes a commitment to electrification and plans to enhance its offerings in zero-emission vehicles while adapting to market dynamics.

What is the projected revenue for NFI in 2025?

NFI has a revenue guidance set between $3.8 billion and $4.2 billion for fiscal 2025.

About The Author

Hi there, I'm Hannah Lewis, a writer and financial specialist of 36 years old committed to making money understandable and approachable to everyone. Years of working in the field have given me a thorough grasp of market trends, investment techniques, and economic fundamentals. My objective is to enable people, by means of understandable, useful guidance, to take charge of their financial destiny.

I have written many articles for financial blogs over my career that simplify difficult financial ideas into understandable insights. Being financially literate is a critical ability, and I am passionate about enabling people to confidently manage their financial lives. Regardless of your level of experience, my work will help you at every stage of the investment process. I appreciate being allowed to share in your success and financial expansion.

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