Winnipeg-based bus maker NFI Group (NFI) has reported a second-quarter net loss of $48.1 million U.S. as it continues to struggle with post-pandemic supply chain issues.
NFI’s Q2 loss compares to a loss of $56 million U.S. in the same quarter of 2022. The latest loss equated to $0.62 U.S. per share compared with a loss of $0.73 a share a year earlier.
Revenue in Q2 totalled $659.6 million U.S., up 66% from $398 million U.S. in the same quarter last year.
NFI maintained its forward guidance for all of this year, saying it still expects revenue between $2.6 billion U.S. and $2.8 billion U.S.
Zero-emission buses accounted for 25% of NFI's deliveries in its latest quarter. By 2025, it forecasts that 40% of all buses it manufactures will be zero-emission.
NFI Group’s stock has declined 14% over the last 12 months to trade at $11.97 per share.
