Blue Bird Stock Price, News & Analysis

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.

Blue Bird Corporation (NASDAQ: BLBD) commends the U.S. EPA's announcement to nearly double funding for clean school buses to $965 million, accelerating the shift from diesel to low-emission buses. The program aims to enhance student and community health by prioritizing low-income, rural, and Tribal areas. With 90% of requested buses being electric, Blue Bird anticipates a surge in demand, ramping up production to 20 electric buses daily by 2023.

Blue Bird Corporation (NASDAQ: BLBD) has delivered its first electric school buses to Chinle Unified School District in Arizona, marking a shift towards zero-emission transportation for the largest school district in the Navajo Nation. The transition is aimed at enhancing student health and reducing operating costs, with electric buses costing an average of 14 cents per mile compared to 49 cents for diesel. The initiative includes two Blue Bird Vision and one Blue Bird All American electric bus capable of carrying up to 84 students.

Blue Bird Corporation (NASDAQ: BLBD) announced a fifth amendment to its credit facility, providing covenant relief through December 31, 2022. This amendment waives the minimum consolidated EBITDA and units manufactured covenant for the quarter ending October 1, 2022, due to ongoing supply chain disruptions. Changes also include switching the market interest rate index to the Secured Overnight Financing Rate. CEO Matthew Stevenson highlighted the importance of this support from lending partners amidst operational changes and supply chain volatility.

Blue Bird Corporation (NASDAQ: BLBD) announced its participation in two investor conferences: Cowen’s 15th Annual Global Transportation & Sustainable Mobility Conference on September 7-9 and D.A. Davidson’s 21st Annual Diversified Industrials & Services Conference on September 22-23. These events will facilitate discussions on the company's advancements in electric and low-emission school buses. Blue Bird has established itself as a leader in this sector, operating over 20,000 propane, natural gas, and electric buses.

Blue Bird Corporation (NASDAQ: BLBD) commends the Inflation Reduction Act of 2022, which represents a historic $369 billion investment in energy security and climate change initiatives. This act aims to decrease harmful carbon emissions by approximately 40% by 2030 and fosters the growth of clean school buses and charging infrastructure. Key funding includes $1 billion in grants for heavy-duty vehicles and up to $100,000 in tax credits for charging infrastructure, supporting Blue Bird's mission in advancing clean transportation.

Blue Bird Corporation (Nasdaq: BLBD) reported third-quarter fiscal 2022 net sales of $206.1 million, marking a 4.8% increase year-over-year driven by a 20.4% rise in average unit sales price. Despite selling 1,726 units, a decline from previous years due to supply chain constraints, the company noted strong demand for electric buses with a backlog of $700 million. Adjusted EBITDA was $8.8 million, down from last year, and net loss was $(6.4) million. The company revised its 2022 guidance to a revenue range of $750-800 million.

Blue Bird Corporation (NASDAQ: BLBD) has announced a collaboration with Lightning eMotors (NYSE: ZEV) to launch a factory-certified electric repower program for its gasoline- and propane-powered school buses. Starting in 2023, customers can convert their buses into zero-emission vehicles, supporting a future-ready fleet. This initiative helps schools meet upcoming zero-emission mandates while maintaining low upfront costs. The electric powertrain offers multiple battery configurations, allowing for a driving range of up to 150 miles on a single charge.