Blue Bird Stock Price, News & Analysis

Blue Bird (Nasdaq: BLBD) applauds the EPA's announcement of $965 million in additional funding for clean school buses through the Clean School Bus Rebate Program. This fourth round of funding brings the total to nearly $3 billion, enabling about 1,300 school districts to replace old diesel buses with nearly 8,700 electric and ultra-low emission vehicles.

Blue Bird, the leader in electric and low-emission school buses, has over 2,000 electric buses in operation, covering more than 5 million miles. The company is expanding its production capacity, including opening a 40,000 square foot EV Build-up Center in 2023. Additionally, Blue Bird received an $80 million DOE grant to convert a former diesel motorhome facility into a 600,000 square foot electric and low-emissions vehicle manufacturing facility, creating over 400 new jobs.

Amentum, a global engineering and technology solutions leader, has announced its board of directors effective upon the close of its pending merger with Jacobs' Critical Mission Solutions and Cyber and Intelligence businesses, expected on September 27, 2024. The board comprises 14 industry and business leaders with extensive experience in engineering, technology, national security, and finance. Notable members include Steven J. Demetriou as executive chair, John Heller as CEO, and retired military generals Vincent K. Brooks and Ralph E. Eberhart. The diverse board brings expertise in areas such as leadership, international relations, private equity, and cybersecurity to guide Amentum's mission of addressing complex global challenges in science, security, and sustainability.

Blue Bird (Nasdaq: BLBD) has announced the resignation of Britton Smith from his position as President, effective September 28, 2024. Smith, who is stepping down for personal reasons, will also leave the Company's Board of Directors immediately. Phil Horlock, the current CEO, will assume the additional role of President, continuing his nearly 14-year leadership of the company.

Blue Bird, known for its electric and low-emission school buses, remains committed to its profitable growth plan, focusing on clean alternative-powered school buses and delivering value to stakeholders. The company's Board of Directors expressed gratitude for Smith's contributions and wished him well in his future endeavors.

Blue Bird (Nasdaq: BLBD) has delivered its 2,000th electric, zero-emission school bus to Clark County School District (CCSD) in Nevada. This milestone vehicle features Blue Bird's new extended range battery and can carry 84 students. CCSD received a $9.875 million grant from the EPA's Clean School Bus Program to purchase electric buses. Blue Bird's 2,000 electric buses serve districts across 41 U.S. states and 4 Canadian provinces, reducing carbon emissions by 21,000 metric tons annually.

The company is expanding its EV production capacity, including a new 40,000 sq ft EV Build-up Center and plans for a 600,000 sq ft manufacturing facility, aiming to produce over 5,000 electric buses annually. Blue Bird's electric buses use Accelera™ by Cummins' PowerDrive™ 7000 system, showcasing their collaboration in sustainable transportation solutions.

Blue Bird (Nasdaq: BLBD) reported strong fiscal 2024 third quarter results, with net sales up 13% to $333 million and GAAP net income increasing by $19 million to $29 million. The company achieved a record quarterly Adjusted EBITDA of $48 million, up $19 million, with 2,151 buses sold. Based on these results, Blue Bird has raised its FY2024 Adjusted EBITDA guidance to $175 million or 13% of revenue. The company also increased its long-term Adjusted EBITDA margin outlook to 15%.

Blue Bird saw strong growth in electric bus orders, delivering over 200 electric-powered buses this quarter, nearly 40% more than last year. The company's order backlog stands at over 5,200 units, including over 560 EV orders from the EPA's Clean School Bus Program.

Blue Bird (Nasdaq: BLBD) has announced a leadership transition plan. Britton Smith, currently President, will become President & CEO on September 29, 2024, succeeding Phil Horlock. Doug Grimm, a director, has been elected as Chairman, replacing Kevin Penn effective immediately.

Smith, who joined Blue Bird in 2022, has led the company's EV business and growth strategy. Horlock, who served as CEO from 2011 to 2021 and was reappointed in May 2023, will remain on the Board to ensure a smooth transition. The company emphasized Smith's qualifications and successful execution of a rigorous transition plan.

Blue Bird, approaching its 100th year, is positioned as the leader in alternative-powered school buses. The leadership changes come at a time of strong momentum and growth for the company.

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.