NFYEF - NFI Non-GAAP EPS of -$0.63 revenue of $514M misses by $139.19M; reaffirms FY22 guidance
- NFI press release ( OTCPK:NFYEF ): Q3 Non-GAAP EPS of -$0.63.
- Revenue of $514M (+4.5% Y/Y) misses by $139.19M .
- 783 equivalent units delivered, including 104 EUs of battery- and fuel cell-electric buses, which equates to 13% of total deliveries.
- 2022 Q3 Adjusted EBITDA of -$16M.
- The company expects to achieve its target of $67M in Adjusted EBITDA run rate savings (from 2019 levels) by the end of 2022, one year earlier than originally planned. A number of NFI Forward 2.0 projects are in progress.
- Reaffirmed Fiscal 2022 financial guidance expectations, updated on October 24, 2022, for revenue of $2.0B to $2.2B vs. consensus of $2.06B and Adjusted EBITDA of -$40M to -$60M.
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NFI Non-GAAP EPS of -$0.63, revenue of $514M misses by $139.19M; reaffirms FY22 guidance