NFI Reports Third Quarter 2026 Results
Key Highlights
- ➤Revenue $1,007.4 million, up 14.5% year over year
- ➤Adjusted EBITDA $108.7 million, up 34.3% year over year
- ➤Net earnings $0.1 million, improving $141.0 million year over year
- ➤Backlog approximately $12.5 billion, including 7,164 firm EUs and 7,343 options
- ➤2026 Adjusted EBITDA guidance raised to $395 to $415 million
Expert Statements
John Sapp, President and Chief Executive Officer, NFI Group Inc.
“Our team’s focus on production linearity and operational excellence delivered another period of profitable growth. Through consistent execution and improved supplier performance, we increased North American transit bus and motorcoach deliveries, contributing to 47% growth in manufacturing Adjusted EBITDA and stronger margins,”
John Sapp, President and Chief Executive Officer, NFI Group Inc.
“Manufacturing performance, solid contributions from our aftermarket business, and the completion of our Canadian bond issuance increased liquidity and supported progress toward our leverage target. As we focus on delivering the best customer experience and advancing the transition to our next-generation battery-electric bus platforms, we made the deliberate decision to begin a sale process for certain battery cells held in inventory. While this resulted in an impairment charge in the quarter, it is expected to accelerate the monetization of those assets over the next 12 to 18 months.”
John Sapp, President and Chief Executive Officer, NFI Group Inc.
“Our performance through the first three quarters gives us additional confidence in our 2026 guidance. As a result, we have raised the lower end of our Adjusted EBITDA guidance by $10 million, now implying a year-over-year improvement of 18% to 24%. This progress demonstrates the strength of NFI’s business and our operating momentum,”
Year-over-year improvements in revenue, gross profit, Free Cash Flow(1), Adjusted EBITDA(1) and net earnings. Closing backlog(1) of $12.5 billion and tightened guidance.
WINNIPEG, Manitoba, Nov. 05, 2026 (GLOBE NEWSWIRE) -- (TSX: NFI, OTC: NFYEF, TSX: NFI.DB) NFI Group Inc. ("NFI" or the "Company"), a leading manufacturer of buses and motorcoaches and a provider of comprehensive aftermarket parts and service solutions, today announced its unaudited interim condensed consolidated financial results for the third quarter of 2026. All figures quoted in U.S. dollars unless otherwise noted.
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