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NFI Reports Record Fourth Quarter and Full Year 2025 Results

NFI's Fiscal 2025 net earnings rose by $147.5 million year-over-year, driven by a $166 million battery settlement and strong zero-emission bus deliveries.

  • On March 11, 2026, NFI Group Inc. announced audited Fiscal 2025 results as record fourth-quarter and full-year results from Winnipeg, Manitoba, with a conference call on Thursday, March 12, 2026.
  • Battery recoveries and settlements helped, with a $114.5 million net recovery from the Battery Settlement and higher deliveries of zero-emission battery- and fuel cell-electric buses driving results.
  • Deliveries in 2025 Q4 totaled 1,233 EUs, with 27.4% being ZEBs, and net cash from operations reached $118.6 million.
  • The company cautioned that guidance includes impacts of tariffs as of March 11, 2026, but excludes potential future tariffs, while management expects metric improvements in 2026.
  • Tariff changes and policy moves could pressure supplier pricing and margins, while order metrics show 5,051 EUs LTM, 7,120 EUs active bids, and five-year demand of approximately 25,000 EUs.
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The Norfolk Daily NewsThe Norfolk Daily News
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NFI Reports Record Fourth Quarter and Full Year 2025 Results

Strong quarterly performance supported a record fiscal year with profitability improvements and a closing backlog of

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channelchek.com broke the news in on Tuesday, March 10, 2026.
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