NFI Group Inc T.NFI

NFI Announces Third Quarter 2023 Results

[Betteryear2]

All figures quoted in U.S. dollars unless otherwise noted:

• 2023 Q3 revenue of $710 million; 1,051 equivalent units ("EUs") delivered, up 34% from 2022 Q3, with 23% of deliveries being battery- and fuel cell-electric buses ("ZEBs").
• Net loss of $40 million; Net loss per Share of $0.42, and Adjusted Net Loss per Share2 of $0.41; 2023 Q3 Adjusted EBITDA2 of $11 million.
• Ending liquidity2 position of $170 million.
• Ending total backlog2 position (both firm and options) of 9,556 EUs (valued at $6.6 billion); ZEB backlog2 now 3,456 EUs, or 36%, of total backlog2.
• Active North American public Total Bid Universe4 ended at 10,361 EUs, up 3% year-over-year; ZEBs now represent 52% of the Total Bid Universe.
• Updated financial guidance for Fiscal 2023 for revenue of $2.7 to $2.8 billion and Adjusted EBITDA2 of $45 to $65 million; other elements remain unchanged.
• Completed NFI's comprehensive refinancing plan ("Refinancing Plan") in August 2023.

WINNIPEG, Manitoba, Nov. 08, 2023 (GLOBE NEWSWIRE) -- (TSX: NFI, OTC: NFYEF, TSX: NFI.DB) NFI Group Inc. ("NFI" or the "Company"), a leader in zero-emission electric mobility solutions, today announced its unaudited interim condensed consolidated financial results for the third quarter of 2023.

NFI Announces Third Quarter 2023 Results (globenewswire.com)