The earnings call presented a mix of strong demand and backlog growth with significant challenges in the U.K. market and supply chain disruptions impacting net earnings. The successful refinancing and liquidity improvement were positive, but the restructuring and impairment costs in the U.K. market were notable lowlights.

Company Guidance -

Q3 2025

During the NFI Group's Second Quarter 2025 Financial Results Call, the company reported several positive financial metrics, including a 19% year-over-year increase in quarterly adjusted EBITDA and a $7.6 million improvement in adjusted net earnings. The return on invested capital increased by 7.9%, and the total liquidity reached $326.7 million, largely due to a recent refinancing. The company also highlighted a strong demand environment with new orders of 822 equivalent units (EUs), 95% of which were firm orders, contributing to a total backlog of 16,198 EUs valued at $13.5 billion. The book-to-bill ratio was 119.9%, and the option backlog conversion rate was 74.9% on an LTM basis. The company also mentioned an improvement in supply chain health, reducing high-risk suppliers to just one. Despite facing certain non-recurring expenses and unusual items, such as a $160.8 million net loss, NFI reaffirmed its 2025 guidance, projecting revenues between $3.8 billion to $4.2 billion and adjusted EBITDA ranging from $320 million to $360 million.

Strong Demand and Backlog

New orders of 822 EUs with 95% firm orders, and a total backlog of 16,198 equivalent units worth USD 13.5 billion. The Q2 LTM book-to-bill ratio was 119.9%, showcasing strong demand driven by government funding in North America.

Improvement in Adjusted EBITDA

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 Debt Refinancing

Completed the refinancing of First and Second Lien debt, leading to increased liquidity of $326.7 million and improved credit ratings.

Reduction in Supply Chain Risk

Only one high-risk supplier remains, down from 50 in 2022, reflecting improved supply chain health and management.

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

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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	-0.564	90.24% (+0.51)	―	―
Jul 31, 2024	2024 (Q2)	-0.02 / 0.04	-0.633	106.52% (+0.67)	―	―
May 02, 2024	2024 (Q1)	-0.23 / -0.18	-0.674	73.47% (+0.50)	―	―
Feb 29, 2024	2023 (Q4)	-0.28 / -0.07	-0.426	83.87% (+0.36)	―	―
Nov 08, 2023	2023 (Q3)	-0.45 / -0.56	-0.867	34.92% (+0.30)	―	―
Aug 16, 2023	2023 (Q2)	-0.67 / -0.63	-0.88	28.13% (+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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