New Flyer Industries - Q3-2017 Earnings & Price Target Update
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New Flyer is North America's largest transit bus and inter-city motor coach manufacturer and parts distributor with fabrication, manufacturing, distribution and service centers in Canada and the United States. Financial statements are issued in US dollar, approximately 10% of revenues are from Canada, dividends are paid in Canadian dollars. As North America's leading heavy-duty transit bus manufacturer the product line includes the Xcelsior, the broadest range of drive systems available, including: clean diesel, natural gas, diesel-electric hybrid, electric-trolley and battery-electric. New Flyer actively supports over 44,000 heavy-duty transit buses (New Flyer, NABI and Orion) in service, of which 6,400 are powered by electric or battery propulsion. Approximately 84% of revenues are from manufacturing and 16% from parts and service. Aftermarket parts market consists of approximately 90% government municipalities and transit authorities and 10% private operators (such as rental car agencies).
The motor coach segment operates as Motor Coach Industries, acquired in 2015. They are the leading inter-city motor coaches in Canada and the U.S., MCI offers a J-model which is the industry's best-selling intercity coach for 12 consecutive years, and the D-model, the industry's best-selling coach line in North American motor coach history. MCI is also the exclusive distributor of Daimler Setra S417 and S407 in the United States and Canada. MCI actively supports over 28,000 motor coaches (MCI and Setra) currently in service and offers 24-hour roadside assistance 365 days a year.
The transit bus parts and service segment supports 42,000 heavy-duty transit buses including New Flyer, NABI and Orion brands of which 6,400 are battery powered.
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