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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 strong fiscal Q1 2023 results, highlighting a robust backlog exceeding $675 million with over 5,300 units, alongside 950 electric vehicles on the road. Net sales reached $236 million, an 82.4% increase year-over-year, driven by a rise in bus sales. However, the company faced a GAAP net loss of $11 million and an adjusted EBITDA of $(4 million). The fiscal 2023 guidance was raised to a projected net revenue of over $1 billion and adjusted EBITDA of $40-46 million. This reflects Blue Bird's expansion in electric school buses, with a 130% increase in bookings, supported by nearly $1 billion in funding from the EPA's Clean School Bus Rebate Program.
Blue Bird Corporation (NASDAQ: BLBD) will release its fiscal year 2023 first quarter financial results on
Blue Bird Corporation (NASDAQ: BLBD) has announced an expansion of its sales territory to South Carolina through a new dealership, Gregory Poole Bus Sales & Service. This dealership will offer both new and pre-owned buses, including traditional and low- or zero-emission options. With 21 service facilities, customers can expect comprehensive support. Recently, the demand for clean student transportation has surged, aided by nearly $1 billion in funding from the U.S. EPA for purchasing electric school buses. This partnership enhances Blue Bird's position as a leader in low-emission school buses, with over 20,000 such buses in operation.
Blue Bird Corporation (NASDAQ: BLBD) has successfully delivered its first electric school bus to Dearborn Public Schools in Michigan. This zero-emission bus can transport up to 84 students for 120 miles on a single charge. Funded partly by a
Blue Bird Corporation (NASDAQ: BLBD) reported net sales of $801 million for FY2022, a 17.1% increase YoY. However, the company faced a GAAP net loss of $46 million and an Adjusted EBITDA loss of (15 million). The fourth quarter saw sales reach $257.7 million, a 34.1% increase from the previous year, with 6,822 buses sold. The backlog stands at over $600 million, with more than 5,000 units ordered. The company projects FY2023 revenues between $900-1,000 million with an Adjusted EBITDA of $35-45 million.
Blue Bird Corporation (NASDAQ: BLBD) has announced a partnership with Highland Electric Fleets to facilitate the acquisition of 12 electric school buses by Hardin County Community Unit School District #1 in Illinois. The initiative is partially funded by a
Blue Bird Corporation (NASDAQ: BLBD) has announced a sixth amendment to its credit facility, extending the maturity date to December 31, 2024. The amendment includes revised covenants, changes to the revolving credit facility, and a new pricing grid. CFO Razvan Radulescu highlighted expected improved financial performance, projecting annualized run-rates of $50M for Q2-Q3 and $60M for Q2-Q4 in 2023, while CEO Matthew Stevenson noted operational progress despite supply chain challenges. Further details will be shared during the earnings call on December 12.
Blue Bird Corporation (NASDAQ: BLBD) will announce its fiscal 2022 Q4 and full-year financial results on December 12, 2022, at 4:30 PM ET. The public is invited to an audio webcast featuring CEO Matthew Stevenson and CFO Razvan Radulescu discussing the outcomes. A supportive slide presentation will be available. Investors can access the webcast details on the Blue Bird Investor Relations website, with a replay available two hours post-call. Blue Bird has pioneered low- and zero-emission school buses since 1927, operating over 20,000 cleaner-energy buses.
The U.S. Environmental Protection Agency (EPA) has announced funding for over 2,400 clean school buses, with 95% being electric. This initiative prioritizes low-income, rural, and Tribal communities, enhancing access to sustainable transportation. Blue Bird Corporation (NASDAQ: BLBD), a leader in electric school buses, supports this initiative and aims to expand production to 20 electric buses daily by the end of 2023. The funding is part of a $5 billion program aimed at replacing diesel buses and establishing necessary infrastructure, supporting approximately 2,000 jobs.
Nuvve Holding Corp (Nasdaq: NVVE) and Blue Bird Corporation (Nasdaq: BLBD) have launched the largest vehicle-to-grid (V2G) project for electric school buses in Ramona Unified School District, California. Eight electric school buses, equipped with Nuvve's GIVe™ technology, will sell stored energy back to the grid during peak demand, generating potential savings of up to $7,200 per bus annually through SDG&E's Emergency Load Reduction Program. This initiative supports the transition to zero-emission transportation, bolstered by the Biden-Harris Administration's Clean School Bus Rebate program, which allocates nearly $1 billion for such projects.
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