Blue Bird Stock Price, News & Analysis

Blue Bird Corporation (NASDAQ: BLBD) announced the appointment of Simon J. Newman to its Board of Directors, effective April 4, 2023. Newman, with over 40 years of experience in precision-engineered manufacturing and executive strategy, is the chairman of MW Industries and has previously served as CEO of Form Technologies for 18 years. His appointment is expected to enhance Blue Bird's leadership in school bus manufacturing, particularly in low- and zero-emission transportation. Matthew Stevenson, president and CEO of Blue Bird, expressed confidence in Newman's contributions toward improving safety and reliability as the company continues its focus on eco-friendly student transportation.

Blue Bird is recognized as a leader in the school bus industry, with over 20,000 alternative fuel buses in operation.

Blue Bird Corporation (NASDAQ: BLBD) announced its participation in the 35th annual Roth Conference from March 12-14, 2023, in Dana Point, California. The event will feature 1-on-1 meetings, analyst-selected fireside chats, and thematic industry panels, providing opportunities for executives to engage with investors. Blue Bird is a leader in electric and low-emission school buses, operating over 20,000 propane, natural gas, and electric buses. As a trusted brand since 1927, it focuses on safety, reliability, and durability in student transportation while driving the industry's transition to cleaner energy solutions.

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 February 8, 2023. The event is set to include an audio webcast featuring Matthew Stevenson, President and CEO, and Razvan Radulescu, CFO, at 4:30 PM ET. Interested parties can access the webcast through the Investor Relations section of Blue Bird's website. The company is a leader in electric and low-emission school buses, with over 20,000 propane, natural gas, and electric buses deployed, emphasizing its commitment to cleaner energy solutions in student transportation.

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 $300,000 EPA grant, the initiative aims to reduce greenhouse gas emissions and improve community health. Dearborn has committed to transitioning to electric vehicles, with plans for 18 additional buses funded by the EPA's Clean School Bus Rebate program.

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 $4.74 million grant from the EPA's Clean School Bus Program. This funding is part of a $5 billion initiative aimed at clean student transportation across the U.S. Blue Bird aims to reduce the total cost of electric school bus ownership to be competitive with diesel buses.

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.