NFI Group - CEO, Paul Soubry.
CEO, Paul Soubry.
Source: University of Manitoba.
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  • NFI Group (TSX:NFI) delivered a record 1,845 units in the quarter, resulting in record fourth quarter revenue of C$918 million 
  • The company also reported adjusted EBITDA of $103.9 million for the quarter 
  • Full year free cash flow was $160.4 million or $3.42 per share 
  • The 2019 backlog of firm and option orders amounted to 10,742 units, for a value of $5.2 billion 
  • NFI Group (NFI) was down 16 per cent, with shares trading at $22.76 and market cap of $1.4 billion 

The NFI Group (TSX:NFI) today announced a record number of units shipped, along with their largest single quarter on record.

The company today posted their 2019 full year results and their fourth quarter 2019 results.

Both figures show large growth in production for the company, with 1,845 units shipped in 2019 Q4, their largest quarter on record.

As for revenue, that grew in line with production to $918 million for the quarter.

Full year revenue climbed to $2.9 billion, with the company on track to pay down its significant leverage ratio of 3.24x.

The significant leverage ratio is due to the large leverage the company acquired to purchase ADL, the largest producer of double decker buses and leading British bus and coach producer.

Declared dividends of $26.6 million for the quarter and $105.5 million equalled payment ratios of 41 per cent and 50 per cent respectively.

The company’s CEO Paul Soubry said the 2019 fiscal period was a significant milestone for the company, following their acquisition of ADL.

“We were pleased with our performance in the fourth quarter as we recovered from a challenging year with record quarterly vehicle deliveries, revenue and adjusted EBITDA.

“These positives were somewhat offset by challenges with the ramp-up of our new parts fabrication facility and learning curve associated with the launch of several new bus and coach models, but we are now largely past those issues and focused omg delivering results in 2020,” he said.

Despite record revenue, record production and record profit, the company has been unable to avoid the carnage being inflicted on the TSX today.

Even diversified companies like NFI have been cratered by the market dive, with the TSX index now down an astronomic 12 per cent.

NFI Group (NFI) was down 16 per cent, with shares trading for $22.76 at 2:29pm EST. 

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