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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.
Blue Bird Corporation (Nasdaq: BLBD) reported its fiscal 2021 second quarter results, revealing a net loss of $0.6 million, consistent with the previous year. Adjusted EBITDA dropped to $7.5 million, down $4.7 million year-over-year, driven by a decline of 1,105 unit sales due to the pandemic's impact on schools. Total revenue for the quarter was $164.7 million, reflecting the challenging market environment.
Georgia Senator Reverend Raphael Warnock experienced Blue Bird Corporation’s zero-emission school bus technology during a visit to their Fort Valley facility. The Senator highlighted the importance of transitioning to electric school buses, emphasizing potential environmental and job benefits. In collaboration with other lawmakers, Warnock introduced the Clean Commute for Kids Act, proposing $25 billion over ten years to replace aging diesel buses with electric alternatives. Blue Bird, a pioneer in electric buses, aims to lead the industry toward sustainable solutions.
Blue Bird Corporation (Nasdaq: BLBD) will release its fiscal 2021 second quarter financial results on May 12, 2021. The company invites the public to an audio webcast featuring executives Phil Horlock and Jeff Taylor discussing the results at 4:30 PM ET. A slide presentation will support the discussion, and the webcast will be accessible via the Investor Relations section of Blue Bird's website. A replay will be available two hours post-call.
Blue Bird Corporation has introduced North America's first operational DC fast charge V2G-capable school bus, powered by Cummins’ PowerDrive EV system, in Pekin, Illinois. The bus, delivered to two local school districts, supports renewable energy storage and can generate revenue by selling excess energy back to the grid. The initiative promotes clean transportation and reduced emissions, with the districts' fleets now fully electric. The project is part of the Bus-2-Grid Initiative, which aids districts in capitalizing on V2G revenue opportunities.
Blue Bird Corporation has delivered Colorado's first electric school bus to Boulder Valley School District on March 4th. This initiative, supported by an ALT Fuels Colorado grant, highlights the district's commitment to student health and environmental sustainability. The electric bus features reduced maintenance needs and offers significant savings on fuel and upkeep. Blue Bird aims to increase the number of electric buses from 400 to over 1,000 next year, asserting its leadership in the electric school bus market.
Blue Bird Corporation has surpassed 400 electric-powered school buses delivered or on order, highlighting strong momentum in sales. The company achieved a near three-fold growth in electric bus sales last year, bolstered by a growing commitment to zero-emissions transportation. Currently, Blue Bird offers all three school-bus body configurations in electric models, servicing over 7,000 active customers. The company anticipates its electric bus numbers will exceed 1,000 next year, aligning with federal climate initiatives.
Blue Bird Corporation (Nasdaq: BLBD) reported a GAAP net loss of $1.6 million for Q1 FY2021, a decrease of $1.2 million compared to the previous year. Revenue fell to $130.4 million, down 14.9% year-over-year, with unit sales declining by 205 to 1,255. Adjusted EBITDA was $5.8 million, down $2.2 million from last year. Despite challenges from the pandemic, Blue Bird saw a 24% increase in bookings and an impressive 46% in alternative-powered bus sales. The company reaffirmed its revenue guidance of $750M-$975M for FY2021, with adjusted EBITDA expectations of $40M-$65M.
Blue Bird Corporation (Nasdaq: BLBD) will release its fiscal 2021 first quarter financial results on February 10, 2021. Join executives Phil Horlock and Jeff Taylor for an audio webcast at 4:30PM ET that day to discuss the results. A presentation will support the discussion, accessible via the Investor Relations section of Blue Bird's website. Established in 1927, Blue Bird has sold over 550,000 school buses, maintaining its status as a leader in school bus innovation, safety, and alternative fuel applications.
Blue Bird Corporation (Nasdaq: BLBD) reported its fiscal 2020 fourth quarter and full-year results, showing a net income of $11.9 million for Q4, a slight increase from the prior year, while annual net income dropped to $12.2 million, down $12.1 million from FY2019. Revenue for Q4 decreased 18.1% to $281.4 million, with total annual revenue at $879.2 million, down 13.7%. Despite COVID-19 impacts, bus pricing improved by 7%, and alternative-fuel bus sales remained strong. The company aims for 2021 revenues between $750 million and $975 million.
Blue Bird Corporation (NASDAQ: BLBD) announced a third amendment to its credit facility, granting covenant relief through Q2 2022. The amendment replaces the net leverage ratio with a minimum EBITDA covenant and introduces a monthly liquidity test, allowing a higher net leverage ratio for early FY2022. However, it entails increased borrowing costs and reduced availability on revolving commitments. CEO Phil Horlock expressed satisfaction with the amendment, emphasizing financial flexibility during the Covid-19 pandemic, aimed at future revenue growth.
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