NFI Group re-elects board of directors at shareholder meeting

WINNIPEG, Manitoba - NFI Group Inc. (TSX: NFI, OTC: NFYEF, TSX: NFI.DB), a prominent provider of bus and coach mobility solutions with a market capitalization of $778 million, confirmed the re-election of its board of directors during the annual and special meeting of shareholders on Friday. All ten nominees listed in the March 21 management information circular were voted in, with the majority of votes cast in favor of each candidate. According to InvestingPro data, the company’s stock has shown remarkable momentum with a 21.5% return over the past week.

The election results showcased strong shareholder support, with the lowest approval at 91.38% for nominee Adam Gray, and the highest at 99.13% for Katherine Winter. The detailed voting outcomes indicated a consistent endorsement for the continuity of the board’s leadership. InvestingPro analysis suggests positive momentum ahead, with analysts expecting both sales and net income growth this year.

NFI Group, known for its diverse portfolio of propulsion-agnostic vehicles, including leading electric models, is focused on addressing the demand for scalable smart mobility solutions. The company’s commitment to clean and sustainable transportation aligns with the growing need for environmentally friendly urban transit options.

The comprehensive range of NFI Group’s products spans from zero-emission electric buses to clean diesel coaches, supporting a global installed base of over 100,000 vehicles. The company’s operations span ten countries, employing nearly 9,000 team members.

The final voting results from the shareholder meeting will be made available on the company’s website and filed with Canadian securities regulators, accessible on SEDAR.

This announcement is based on a press release statement from NFI Group Inc.

In other recent news, NFI Group reported its Q1 2025 earnings, showing a mixed financial performance. The company missed analysts’ expectations with an earnings per share (EPS) of $0.02, falling short of the forecasted $0.1. Revenue also did not meet expectations, coming in at $841.4 million compared to the anticipated $887.77 million. Despite these misses, the company demonstrated strong operational performance, with an 84% year-over-year increase in adjusted EBITDA and significant improvements in manufacturing segment margins. The company also highlighted strong demand for its zero-emission buses and reported its highest-ever deliveries in this category. NFI Group entered into a new senior secured credit agreement worth $845 million to support future operations. Analysts from ATB Capital Markets and CIBC have been inquiring about the company’s strategies to address ongoing supply chain challenges and tariff impacts. The company continues to focus on operational efficiency and strategic growth, providing a positive outlook for 2025 with revenue guidance set between $3.8 billion and $4.2 billion.

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