05:03 PM EDT, 05/02/2024 (MT Newswires) -- NFI Group ( NFYEF ) on Thursday said its first-quarter narrowed on higher sales.

The bus and coach manufacturer said it lost US$9 million, or US$0.08 per share, in the period, compared with a loss of US$46 million, or US$0.60 per share, in the year-prior quarter. It posted an adjusted loss, which excludes most one-time items, of US$0.13 per share, narrower than the consensus analyst estimate for the measure of US$0.15, according to Capital IQ.

Revenue rose 38% to US$723 million from US$524 million.

NFI reiterated its previously provided financial guidance for Fiscal 2024 and targets for 2025, including an adjusted EBITA range of US$240 million to US$280 million; and 2025 Adjusted EBITA target of greater than US$350 million.

The company's shares closed down C$0.01 to C$11.28 on the Toronto Stock Exchange.