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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 (Nasdaq: BLBD) and Generate Capital have appointed Chris Baker as General Manager of their 50/50 joint venture, Clean Bus Solutions . This fleet electrification-as-a-service business aims to meet the growing demand for electric school buses and accelerate clean student transportation adoption in North America. Baker, an industry veteran with over 20 years of experience, will lead the venture's growth. The joint venture offers a turnkey electrification solution, including Blue Bird's electric school buses, charging infrastructure, financing, project management, and fleet optimization, all at an affordable monthly fee. This approach simplifies the transition to electric fleets for school districts by eliminating upfront costs and complexity.
Blue Bird (Nasdaq: BLBD), a leader in electric and cleaner-emission school buses, has announced it will release its fiscal 2024 third quarter financial results on August 7, 2024. The company will host an audio webcast and conference call at 4:30 PM ET on the same day, featuring CEO Phil Horlock and CFO Razvan Radulescu discussing the results.
Investors and the public are invited to attend the webcast, which will include a slide presentation. Dial-in details and access to the webcast will be available on Blue Bird's Investor Relations website. A replay of the webcast will be accessible approximately two hours after the call concludes through the same link.
Blue Bird (NASDAQ: BLBD), a leading manufacturer of electric and low-emission school buses, has been awarded an $80 million grant by the U.S. Department of Energy (DOE). This funding, part of the Domestic Automotive Manufacturing Conversion Grants program, will assist Blue Bird in converting a former diesel-powered motorhome site in Fort Valley, Georgia into a 600,000 square foot electric vehicle manufacturing facility. This project represents half of the total $160 million needed for the conversion and will create over 400 new manufacturing jobs. The grant is part of a larger $2 billion DOE initiative aimed at transforming traditional automotive facilities to support electric vehicle production and strengthen domestic supply chains. Blue Bird, along with 10 other selectees, including Cummins, its supply chain partner for electric vehicle powertrains, will benefit from this grant aimed at meeting the increasing demand for clean student transportation nationwide. The final contract and funding negotiations with the DOE are expected to conclude within 120 days.
Blue Bird (Nasdaq: BLBD) announced that Gurminder Bedi will resign from its board of directors, effective June 26, 2024, after a nine-year tenure. Bedi, who joined Blue Bird's board in 2015 as an independent director, had a 30-year career with Ford Motor Company. At Ford, he served as vice president of the North American Truck business, president of Ford Argentina and Brazil, and head of North American Quality, among other roles. CEO Phil Horlock expressed gratitude for Bedi's contributions, emphasizing his impact on Blue Bird's leadership in student transportation. Bedi also expressed appreciation for the company and his board colleagues.
Blue Bird (Nasdaq: BLBD), a leader in electric and low-emission school buses, announced major safety upgrades to its buses. Starting fall 2024, all new Blue Bird buses will feature three-point seat belts and 4Front driver airbags as standard. Other safety enhancements include high-intensity LED lighting, high-resolution cameras, lighted stop arms, and collision mitigation systems. Partnering with IMMI for these advancements, Blue Bird aims to enhance safety for school children and drivers. This initiative marks the most comprehensive safety upgrade in the company's history.
Blue Bird (Nasdaq: BLBD), a leading manufacturer of electric and low-emission school buses, announced the ratification of a three-year collective bargaining agreement (CBA) with the United Steelworkers (USW) union. The agreement, which was overwhelmingly approved, covers over 1,500 production workers at Blue Bird’s Fort Valley, Georgia facility. This CBA aims to provide well-paying jobs, competitive benefits, and career growth opportunities, strengthening Blue Bird's position as an employer of choice. CEO Phil Horlock expressed confidence in the agreement's positive outcomes for both employees and the company, aiming to bolster their high-performance culture and growth plans while maintaining their commitment to North American customers. Blue Bird is notable for being the only U.S.-owned school bus manufacturer and the leading builder of electric school buses in North America, with over 1,500 zero-emission buses currently in operation.
Blue Bird (Nasdaq: BLBD), a leader in electric and low-emission school buses, will debut an electric-powered step van at the 2024 Advanced Clean Transportation (ACT) Expo from May 20-23, 2024, in Las Vegas. Partnering with Xos (Nasdaq: XOS) and Morgan Olson, Blue Bird aims to expand its zero-emission solutions to the commercial vehicle market. The step van features a 140kWh Lithium-ion battery offering a range of up to 130 miles and various safety features such as 'hill hold' and 'electric creep.' Blue Bird's stripped chassis provides a 55-degree wheel cut for better maneuverability in urban settings. The company anticipates commercial availability of the stripped chassis by late 2024.
Blue Bird (Nasdaq: BLBD), the leader in electric and low-emission school buses, has announced three strategic leadership appointments, effective June 1, 2024. Tim Gordon has been promoted to Senior Vice President of Sales and Marketing. Albert Burleigh has been appointed Vice President of North America Bus Sales, and Jenna Van Harpen has been promoted to Vice President of National Fleet Sales. These appointments aim to further strengthen Blue Bird's customer-centric approach, dealer relationships, and growth in zero- and low-emissions transportation segments. The new leadership team will focus on driving growth in electric- and propane-powered vehicles and national fleet sales.
Blue Bird reported record results in the fiscal 2024 second quarter, with net sales reaching $346M, up 15% from the previous year. GAAP net income increased to $26M, a $19M rise. Adjusted EBITDA hit $46M, up $25M, with 2,254 buses sold. The FY2024 EBITDA guidance was raised to $155M, aiming for a 12% margin, and the long-term EBITDA margin outlook was raised to 14%+. The company also noted strong demand for electric school buses and anticipates continued growth in this segment. Overall, Blue Bird showed significant growth in revenue and profitability, with a positive outlook for the future.
Blue Bird (BLBD) has extended its exclusive clean school bus collaboration with Ford Component Sales and ROUSH CleanTech to 2030. Blue Bird is the sole school bus manufacturer in the US to offer propane- and gasoline-powered buses meeting stringent emission standards. Ford's 7.3L engine powers Blue Bird's school buses, exceeding emission standards. The partnership has deployed over 40,000 alternative-fuel buses since 2012.
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