Welcome to our dedicated page for Blue Bird Corporation news (Ticker: BLBD), a resource for investors and traders seeking the latest updates and insights on Blue Bird Corporation stock.
Blue Bird Corporation (symbol: BLBD) is a leading American manufacturer of school buses, offering a complete line of Type A, C, and D buses in various configurations. Since its inception in 1927, Blue Bird has been at the forefront of innovation in bus design and manufacturing, setting industry standards for quality and safety. The company's Georgia-based manufacturing facilities and a robust network of dealers and service centers across North America enable it to cater to a wide market.
With over 1,600 employees, Blue Bird's commitment to safety and reliability is evident in its comprehensive range of buses designed to meet diverse customer needs. The company also offers extensive financial solutions through Blue Bird Capital Services, facilitating easier access to their products.
Blue Bird has a significant global footprint, with sales extending to over 60 countries, including regions in Africa, Asia, the Caribbean, Latin America, Europe, and the Middle East. The company's operations are divided into two primary segments: the Bus segment, which focuses on the design, engineering, and sales of school buses along with extended warranties, and the Parts segment, which deals with the sale of replacement bus parts.
Recent developments in Blue Bird's operations highlight its dedication to enhancing safety and innovation. The company continues to invest in new technologies and partnerships, ensuring that it remains a leader in the school bus manufacturing industry. Financially, Blue Bird is stable, with the majority of its sales coming from the United States.
Fairfax School District in Vermont has introduced two electric-powered school buses from Blue Bird to its fleet this school year. Funded by the Volkswagen Environmental Mitigation Trust, this pilot program aims to evaluate electric bus performance in Vermont's climate. The Blue Bird buses are equipped with the Cummins PowerDrive EV system and utilize charging solutions from Nuvve Holdings. The initiative could save up to $36,000 in fuel costs annually per bus while significantly reducing greenhouse gas emissions.
Blue Bird Corporation (Nasdaq: BLBD) reported fiscal Q1 2022 net sales of $129.2 million and a GAAP net loss of $4.1 million, a $2.5 million increase from the prior year. Adjusted EBITDA was $3.6 million, down $2.2 million year-over-year. Despite these challenges, the company has a record backlog of over 4,800 units, valued at approximately $500 million. Blue Bird anticipates a gradual recovery in production levels and margins in the latter half of 2022, benefitting from recent price hikes and new suppliers easing supply constraints.
Blue Bird Corporation, a leader in electric and low-emission school buses, announced a 4.0% price increase on all net selling prices for Type C and Type D buses effective from March 1, 2022. This decision comes in response to rising material, freight, and labor costs primarily due to the COVID-19 pandemic. CEO Matthew Stevenson highlighted the 7% inflation reported by the Labor Department in 2021 as a significant factor, emphasizing the need for this adjustment to maintain operational stability.
Blue Bird Corporation (NASDAQ: BLBD) will report its fiscal 2022 Q1 financial results on February 9, 2022. The company's executives, including CEO Matthew Stevenson and CFO Razvan Radulescu, will discuss the results during an audio webcast at 4:30PM ET. Interested participants can access the webcast via the Investor Relations section of Blue Bird’s website. The company is recognized as a leader in low- and zero-emission school buses, with over 20,000 propane, natural gas, and electric buses in operation, reinforcing its commitment to transforming the transportation industry.
ROUSH CleanTech has achieved the California Air Resources Board (CARB) certification for its Gen 5 propane engine, marking it as the first OEM to obtain the ultra-low nitrogen oxide certification for the 2022 model year. This engine is noted to be 90% cleaner than existing standards and meets the proposed 2027 NOx regulations. Blue Bird school buses equipped with this engine stand to benefit from the $2.5 billion funding available under the Infrastructure Investment and Jobs Act for low-emission school bus programs, commencing in 2022.
Nuvve Holding Corp. and Colorado/West Equipment announced the deployment of Colorado's first vehicle-to-grid (V2G) electric school bus in Durango School District 9-R. Supported by a Volkswagen Diesel Emissions Settlement grant of $68.7 million, the project integrates Nuvve's V2G technology with Blue Bird's electric buses, allowing bidirectional charging. The bus, operating on a 75-mile daily route, will provide energy to the grid at peak hours and charge overnight. This initiative aims to lower costs and support the transition to cleaner energy for schools and local communities.
Blue Bird Corporation (Nasdaq: BLBD) reported its fiscal 2021 results, with net sales of $684 million, down 22.2% from the previous year. The GAAP net income was $(0.3) million, a decrease of $12.5 million. The firm order backlog exceeds 4,200 units, including 260 electric buses. Adjusted EBITDA stands at $34.1 million, a drop of $20.6 million. Supply chain disruptions delayed over 2,000 bookings to FY2022, leading to projected FY2022 revenue guidance of $750-$850 million. A $75 million investment from Coliseum Capital Management will support EV expansion.
Blue Bird Corporation (NASDAQ: BLBD) has successfully completed a $75 million securities purchase agreement with Coliseum Capital Management, issuing shares at $16.00 each. This capital will be directed towards enhancing their electric vehicle (EV) strategy, particularly following new legislation allocating $5 billion for clean school buses. Coliseum now owns 15% of Blue Bird and has placed a representative on the board. The funds will help with working capital, pay down debt, and invest in technology, aiming to bolster Blue Bird's leadership in the alternative-power bus market.
Blue Bird Corporation (Nasdaq: BLBD) will announce its fiscal 2021 fourth quarter and full year financial results on
Blue Bird Corporation (NASDAQ: BLBD) announced a fourth amendment to its credit facility, effective through the fiscal second quarter of 2023. The amendment provides covenant relief by replacing the net leverage ratio with a minimum EBITDA covenant, increasing the leverage ratio from 3.50:1 to 4.00:1 for the first two quarters of fiscal 2023. It also introduces a new pricing grid based on the net debt to EBITDA ratio and allows for an additional $10 million of revolver availability. CEO Matthew Stevenson emphasized the importance of this amendment for operational flexibility during the pandemic.
FAQ
What is the current stock price of Blue Bird Corporation (BLBD)?
What is the market cap of Blue Bird Corporation (BLBD)?
What does Blue Bird Corporation do?
Where is Blue Bird Corporation located?
How long has Blue Bird Corporation been in operation?
What are the main segments of Blue Bird Corporation?
What markets does Blue Bird Corporation serve?
How many employees does Blue Bird Corporation have?
Does Blue Bird Corporation offer financial solutions?
What is the primary focus of Blue Bird Corporation?
What recent achievements has Blue Bird Corporation made?
Where can I find replacement parts for Blue Bird buses?
