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Blue Bird Corporation reports developments in school bus manufacturing, clean-power bus deployments, operating results and corporate governance. The company designs, engineers, manufactures and sells school buses, including electric, propane, natural gas and conventional models, and also sells replacement bus parts and extended warranties.
Recurring news for Blue Bird includes school district fleet deliveries, Type C electric buses, Blue Bird Vision propane buses, charging-infrastructure partnerships, product safety features, quarterly and annual earnings releases, leadership and engineering appointments, acquisition integration, equity and governance matters, and capital-structure updates tied to its public-company reporting.
Blue Bird Corporation (NASDAQ: BLBD) has appointed Jim Nelles as Senior Vice President of Global Supply Chain Management, effective immediately. Nelles brings over 20 years of international supply chain experience, previously advising Fortune 500 companies and holding key roles in various organizations. His expertise will focus on optimizing Blue Bird's supply chain amidst ongoing challenges such as semiconductor shortages and inflation. CEO Matthew Stevenson believes that Nelles is essential in building a robust supplier network to ensure stable production and high-quality service for Blue Bird's customers and dealers.
Blue Bird Corporation (NASDAQ: BLBD) has secured its largest order for electric school buses, with Modesto City Schools in California purchasing 30 zero-emission buses. This order allows the district to convert nearly half of its diesel fleet, significantly reducing greenhouse gas emissions and enhancing community health. With anticipated fuel savings of over $250,000 per year, the buses will support cleaner energy and sustainability initiatives. Blue Bird's electric buses can carry 84 passengers and travel up to 120 miles on a single charge.
Blue Bird Corporation (NASDAQ: BLBD) has appointed Britton Smith as Senior Vice President of Electrification and Chief Strategy Officer. His role begins immediately, focusing on enhancing the company's position in electric-powered school buses and expanding its EV ecosystem. Smith brings over 20 years of leadership experience, recently serving at KPMG. He succeeds Trevor Rudderham, who retires after over 40 years in the industry, and will assist in a smooth transition until the end of May.
Fairfax School District in Vermont has introduced two electric-powered school buses from Blue Bird to its fleet this school year. Funded by the Volkswagen Environmental Mitigation Trust, this pilot program aims to evaluate electric bus performance in Vermont's climate. The Blue Bird buses are equipped with the Cummins PowerDrive EV system and utilize charging solutions from Nuvve Holdings. The initiative could save up to $36,000 in fuel costs annually per bus while significantly reducing greenhouse gas emissions.
Blue Bird Corporation (Nasdaq: BLBD) reported fiscal Q1 2022 net sales of $129.2 million and a GAAP net loss of $4.1 million, a $2.5 million increase from the prior year. Adjusted EBITDA was $3.6 million, down $2.2 million year-over-year. Despite these challenges, the company has a record backlog of over 4,800 units, valued at approximately $500 million. Blue Bird anticipates a gradual recovery in production levels and margins in the latter half of 2022, benefitting from recent price hikes and new suppliers easing supply constraints.
Blue Bird Corporation, a leader in electric and low-emission school buses, announced a 4.0% price increase on all net selling prices for Type C and Type D buses effective from March 1, 2022. This decision comes in response to rising material, freight, and labor costs primarily due to the COVID-19 pandemic. CEO Matthew Stevenson highlighted the 7% inflation reported by the Labor Department in 2021 as a significant factor, emphasizing the need for this adjustment to maintain operational stability.
Blue Bird Corporation (NASDAQ: BLBD) will report its fiscal 2022 Q1 financial results on February 9, 2022. The company's executives, including CEO Matthew Stevenson and CFO Razvan Radulescu, will discuss the results during an audio webcast at 4:30PM ET. Interested participants can access the webcast via the Investor Relations section of Blue Bird’s website. The company is recognized as a leader in low- and zero-emission school buses, with over 20,000 propane, natural gas, and electric buses in operation, reinforcing its commitment to transforming the transportation industry.
ROUSH CleanTech has achieved the California Air Resources Board (CARB) certification for its Gen 5 propane engine, marking it as the first OEM to obtain the ultra-low nitrogen oxide certification for the 2022 model year. This engine is noted to be 90% cleaner than existing standards and meets the proposed 2027 NOx regulations. Blue Bird school buses equipped with this engine stand to benefit from the $2.5 billion funding available under the Infrastructure Investment and Jobs Act for low-emission school bus programs, commencing in 2022.
Nuvve Holding Corp. and Colorado/West Equipment announced the deployment of Colorado's first vehicle-to-grid (V2G) electric school bus in Durango School District 9-R. Supported by a Volkswagen Diesel Emissions Settlement grant of $68.7 million, the project integrates Nuvve's V2G technology with Blue Bird's electric buses, allowing bidirectional charging. The bus, operating on a 75-mile daily route, will provide energy to the grid at peak hours and charge overnight. This initiative aims to lower costs and support the transition to cleaner energy for schools and local communities.
Blue Bird Corporation (Nasdaq: BLBD) reported its fiscal 2021 results, with net sales of $684 million, down 22.2% from the previous year. The GAAP net income was $(0.3) million, a decrease of $12.5 million. The firm order backlog exceeds 4,200 units, including 260 electric buses. Adjusted EBITDA stands at $34.1 million, a drop of $20.6 million. Supply chain disruptions delayed over 2,000 bookings to FY2022, leading to projected FY2022 revenue guidance of $750-$850 million. A $75 million investment from Coliseum Capital Management will support EV expansion.