NFI's earnings call reflected a strong demand environment and significant improvements in financial metrics and supply chain health. However, challenges remain with a significant net loss due to non-recurring expenses, ongoing tariff impacts, and difficulties in the U.K. market. While the highlights show positive momentum and strategic refinancing, the lowlights indicate areas of concern that need to be addressed.

Company Guidance

During NFI's Second Quarter 2025 Financial Results Call, the company highlighted significant year-over-year improvements across various financial metrics. Key figures include a 19% increase in quarterly adjusted EBITDA, a $7.6 million enhancement in adjusted net earnings, and a 7.9% rise in return on invested capital. The company reported new orders of 822 equivalent units (EUs) with a strong backlog totaling 16,198 EUs valued at $13.5 billion. The call also detailed a Q2 LTM book-to-bill ratio of 119.9% and an option backlog conversion rate of 74.9%. Additionally, NFI discussed its total liquidity, which stands at $326.7 million, bolstered by recent refinancing. The guidance for 2025 remains reaffirmed with projected revenues between $3.8 billion and $4.2 billion, and adjusted EBITDA in the range of $320 million to $360 million.

Strong Demand and Backlog

In the first quarter, NFI recorded new orders of 822 EUs with 95% being firm orders. The total backlog is now worth USD 13.5 billion, showing strong demand, primarily driven by North American public transit and motor coach operators.

Improved Financial Metrics

NFI reported a 19% year-over-year increase in quarterly adjusted EBITDA, a $7.6 million improvement in adjusted net earnings, and a 7.9% increase in return on invested capital.

Successful Refinancing

NFI completed refinancing transactions which resulted in a new 4-year First Lien facility and a new 5-year $600 million Second Lien notes, increasing liquidity to $326.7 million and receiving a BB- rating from S&P and a B1 from Moody's.

Supply Chain Improvement

The number of high-risk suppliers has decreased significantly, with only one high-risk supplier remaining, showing improved supply chain health and better delivery performance.

NFI Group Inc (TSE:NFI) Earnings, Revenues Date & History

The upcoming earnings date is based on a company’s previous reporting, and may be updated when the actual date is announced

Daily Earnings Calendar >

TSE:NFI Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Nov 12, 2025	2025 (Q3)	0.28 / -	-0.055	―	―	―
Jul 31, 2025	2025 (Q2)	0.12 / 0.12	0.041	200.00% (+0.08)	―	―
May 08, 2025	2025 (Q1)	0.05 / 0.03	-0.179	115.38% (+0.21)	―	―
Mar 13, 2025	2024 (Q4)	0.07 / 0.15	-0.069	320.00% (+0.22)	―	―
Nov 06, 2024	2024 (Q3)	0.08 / -0.06	-0.566	90.24% (+0.51)	―	―
Jul 31, 2024	2024 (Q2)	-0.02 / 0.04	-0.635	106.52% (+0.68)	―	―
May 02, 2024	2024 (Q1)	-0.23 / -0.18	-0.676	73.47% (+0.50)	―	―
Feb 29, 2024	2023 (Q4)	-0.28 / -0.07	-0.428	83.87% (+0.36)	―	―
Nov 08, 2023	2023 (Q3)	-0.46 / -0.57	-0.87	34.92% (+0.30)	―	―
Aug 16, 2023	2023 (Q2)	-0.67 / -0.64	-0.883	28.12% (+0.25)	―	―

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat

Missed

TSE:NFI Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Jul 31, 2025	C$19.10	C$18.69	-2.15%
May 08, 2025	C$12.90	C$14.55	+12.79%
Mar 13, 2025	C$11.11	C$13.42	+20.79%
Nov 06, 2024	C$16.59	C$16.26	-1.99%

Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.

FAQ

When does NFI Group Inc (TSE:NFI) report earnings?

NFI Group Inc (TSE:NFI) is schdueled to report earning on Nov 12, 2025, After Close (Confirmed).

What is NFI Group Inc (TSE:NFI) earnings time?

NFI Group Inc (TSE:NFI) earnings time is at Nov 12, 2025, After Close (Confirmed).

Where can I see when companies are reporting earnings?

You can see which companies are reporting today on our designated earnings calendar.

What companies are reporting earnings today?

You can see a list of the companies which are reporting today on TipRanks earnings calendar.

What is TSE:NFI EPS forecast?

TSE:NFI EPS forecast for the fiscal quarter 2025 (Q3) is 0.28.

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