Blue Bird Stock Price, News & Analysis

Blue Bird Corporation (NASDAQ: BLBD) has filed a universal shelf registration statement on Form S-3 with the SEC, allowing it to raise up to $200 million through various securities. This initiative is described as a prudent approach to capital management, enabling the company to capitalize on growth opportunities from the Bipartisan Infrastructure Deal and the evolving electric vehicle market. The shelf registration will remain in effect for three years once declared effective, providing flexibility for future offerings.

Blue Bird is optimistic about the inclusion of student transportation in the recently approved Bipartisan Infrastructure Deal. With over 20,000 clean fuel buses, the company aims to enhance emissions-reducing school transportation across the U.S. The $5 billion investment in electric bus production is expected to modernize school fleets and decrease maintenance costs, potentially saving districts over $6,000 annually.

Blue Bird has pioneered electric buses for over 25 years and sees increased demand for alternative-powered vehicles as a positive outcome of this legislation.

Nuvve Holding Corp. (Nasdaq: NVVE) announced plans to install 200 V2G DC fast charging stations at Blue Bird Corporation's (Nasdaq: BLBD) facility in Fort Valley, Georgia. This innovative hub will optimize electric bus utilization and enable them to function as energy storage assets. By utilizing Nuvve's V2G technology, buses will charge and discharge energy, enhancing battery health and reducing utility costs. The hub aims to aggregate power from multiple buses, creating a virtual power plant with a capacity of 25 MW, potentially supplying power to over 10,000 homes during peak demand.

Blue Bird Corporation (NASDAQ: BLBD) announced the appointment of Razvan Radulescu as its new Chief Financial Officer (CFO), effective October 1, 2021. Razvan brings over 20 years of experience from Daimler Trucks, having held significant roles in Finance, Procurement, and Compliance. He succeeds Phil Tighe, the interim CFO, who will assist in the transition until year-end. Blue Bird, a leading school bus manufacturer, emphasizes innovation and safety in its products, maintaining a robust position in the market with over 570,000 buses sold since 1927.

Blue Bird Corporation (Nasdaq: BLBD) reported third quarter fiscal 2021 results, with net income of $4.3 million, up $3 million YoY. Revenue reached $196.7 million, marking a 4% increase from last year. Adjusted EBITDA improved to $13.2 million, a $0.7 million rise. However, supply chain disruptions led to 550 fewer bookings and a decline in year-to-date net sales by $106 million, down 17.7%. Despite challenges, the order backlog remains robust at over 4,000 buses, indicating strong market demand for traditional and electric school buses.

Micro Bird Holdings, a joint venture of Blue Bird and Girardin, has acquired a controlling interest in GranTuned Automobiles (Ecotuned), a supplier of EV drivetrains. This strategic move enhances Micro Bird's position in the light and medium-duty EV market, leveraging Ecotuned’s advanced technologies and expertise. The partnership, which has over 80% market share in North America's Type A school bus segment, is expected to bolster revenue and profitability for Micro Bird and Blue Bird Corporation.

Nuvve Holding Corp. (Nasdaq: NVVE) and Blue Bird Corporation (Nasdaq: BLBD) are expanding their partnership to integrate Nuvve's vehicle-to-grid (V2G) technology in Blue Bird's electric school buses. This collaboration aims to offer financing through Levo Mobility LLC, enabling schools to lease V2G electric buses and related infrastructure with no upfront costs. Levo has committed up to $750 million, potentially electrifying 3,500 buses. This initiative allows schools access to revenue-generating capabilities by utilizing buses to stabilize the grid, enhancing the appeal and affordability of sustainable school transportation.

Blue Bird Corporation (Nasdaq: BLBD) will announce its fiscal 2021 third quarter financial results on August 12, 2021. Investors can join an audio webcast hosted by CEO Phil Horlock and CFO Phil Tighe at 4:30 PM ET the same day. The presentation will be accessible via the Investor Relations section of Blue Bird's website. With over 550,000 buses sold since 1927, Blue Bird holds a strong market position and is a leader in alternative fuel school buses, enhancing its appeal to eco-conscious consumers.

Blue Bird Corporation (Nasdaq: BLBD) has appointed Matthew Stevenson as President, effective July 1, 2021. He will succeed Philip Horlock as CEO by November 1, 2021, who will transition to a senior-advisor role until 2022. Under Horlock's leadership since 2011, the company achieved significant growth, increasing sales from $550 million to over $1 billion and gaining 10 points of market share. Stevenson brings extensive commercial vehicle experience, having held leadership positions in notable companies. Tom Roberts, Chief Administrative Officer, is set to retire on October 31, 2021.