NFI achieves record backlog and strong fiscal performance

NFI Group Inc. reported strong financial results for the fourth quarter and fiscal year 2024, with a record backlog of $12.8 billion. Net earnings rose to $18.6 million, a significant increase from the previous year, driven by higher sales and improved gross margins. The company faced supply disruptions affecting its North American transit bus business but has seen improvements in seat supply and production efficiencies. Manufacturing revenue increased by 16.5% year-over-year, with a notable rise in zero-emission bus deliveries. Despite challenges in international markets, NFI's North American demand remains robust. The company is focused on enhancing financial flexibility and managing supply chain risks while preparing for potential impacts from tariffs and policy changes.