NFI Group reports US$15.4M Q3 loss, revenue down amid supply disruptions
BNN Bloomberg
NFI Group Inc. says it lost US$15.4 million in its latest quarter as the bus maker dealt with global supply disruptions that reduced the availability of key parts and components and hurt production.
WINNIPEG -- NFI Group Inc. says it lost US$15.4 million in its latest quarter as the bus maker dealt with global supply disruptions that reduced the availability of key parts and components and hurt production.
The Winnipeg-based company, which keeps its books in U.S. dollars, says the loss amounted to 22 cents per share for the quarter ended Sept. 26.
The result compared with a loss of US$24.9 million or 40 cents per share in the same quarter last year.
Revenue in the quarter totalled US$492.0 million, down from US$663.9 million.
On an adjusted basis, NFI says it lost US$11.3 million or 16 cents per share in its most recent quarter, compared with an adjusted profit of US$5.7 million or nine cents per share a year earlier.
Analysts on average had expected an adjusted loss of 17 cents per share and US$497.9 million in revenue, according to financial markets data firm Refinitiv.
After Gildan Activewear Inc.’s entire board of directors and Chief Executive Officer quit last week, BNN Bloomberg will speak with Glenn Chamandy, the clothing company’s reappointed CEO and president, to discuss the five-month feud with activist investors and the future of Gildan under his reinstated leadership.