Business
NFI Reports 2026 First Quarter Results
Year-over-year improvements in gross profit, Adjusted EBITDA 1 and net earnings. Closing bac...
About this update from Nfi Group Inc.
NFI Reports 2026 First Quarter Results Year-over-year improvements in gross profit, Adjusted EBITDA1 and net earnings. Closing backlog1 of $13.0 billion and reaffirmed 2026 guidance. WINNIPEG, Manitoba, May 07, 2026 (GLOBE NEWSWIRE) -- (TSX: NFI, OTC: NFYEF, TSX: NFI.DB) NFI Group Inc. ("NFI" or the "Company"), a leading manufacturer of buses and coaches and a provider of comprehensive aftermarket parts and service solutions, today announced its unaudited interim condensed consolidated financial results for the first quarter of 2026. All figures quoted in U.S. dollars unless otherwise noted. First Quarter Highlights Deliveries: 978 equivalent units ("EUs"), with 19.9% being battery- and fuel cell-electric buses (“ZEBs”)Revenue: $842.0 million, relatively flat year-over-yearGross Profit: $132.3 million, an increase of 40.8% from 2025 Q1, positively impacted by higher margin units being delivered from backlog1Net Earnings: $11.5 million, an increase of $18.0 million year-over-yearAdjusted Net Earnings1: $21.8 million and Adjusted Net Earnings per Share1 of $0.18, an improvement of $18.9 million from 2025 Q1Net cash used in operating activities: $54.3 million, impacted by changes in working capital items and higher cash interest and tax paymentsAdjusted EBITDA1: $86.1 million, an increase of 37.3% year-over-yearBacklog1: Approximately $13.0 billion (6,535 EUs firm and 8,693 EUs options)ROIC1: Increased to 12.3%, up from 7.5% in 2025 Q1Liquidity1: $374.6 million, an increase of $246.7 million from 2025 Q1 Key financial metrics for 2026 Q1 and LTM are included in the table below: in millions except deliveries and per share amounts  2026 Q1  2025 Q1   2026 Q1 LTM  2025 Q1 LTM Deliveries (EUs) 978 1,028  4,401 4,448        IFRS Measures      Revenue $842.0 $841.4  $3,615.1 $3,241.0 Net Earnings (Loss) $11.5 $(6.5) $(124.1)$(0.4)Net Earnings (Loss) per Share $0.10 $(0.05) $(1.04)$(0.00)Net cash generated by (used in) operating activities $(54.3)$40.8  $78.6 $42.8                Non-IFRS Measures      Adjusted EBITDA...