- School bus manufacturer Blue Bird (BLBD) has reported a significant rise in its fiscal second-quarter earnings, setting a new record for electric school bus deliveries.
- The company’s earnings per share (EPS) saw a 230% increase compared to the same period last year, and its revenue grew by 15% to $346 million.
- Blue Bird’s CEO, Phil Horlock, attributes this success to the company’s aggressive strategies and the support of the Environmental Protection Agency’s Clean School Bus Program.
Blue Bird Corporation (BLBD) surpasses expectations with record-breaking electric school bus deliveries and a significant increase in its fiscal second-quarter earnings.
Blue Bird’s Record-Breaking Earnings
The Macon, Georgia-based company reported an EPS of 89 cents for the fiscal second quarter, marking a 230% increase from the previous year. This growth significantly surpassed analysts’ expectations of 47 cents per share. Additionally, the company’s revenue reached $346 million, a 15% increase from last year, and well above the predicted $298.4 million.
Record Deliveries of Electric School Buses
Blue Bird also announced a record number of electric school bus deliveries for the quarter. The company ended Q2 with approximately 500 electric school bus orders in its backlog, a 56% increase from last year. The Environmental Protection Agency’s Clean School Bus Program, established in 2021, has significantly contributed to this growth in EV orders. The program provides $5 billion to replace diesel-fueled school buses.
Blue Bird’s Future Outlook
Despite the challenges faced by many auto companies in the electric vehicle segment, Blue Bird remains optimistic about its future. “We’ve been working aggressively with our dealers and school districts in submitting applications and we are confident that continued, exciting growth is ahead for Blue Bird on the EV front,” said CEO Phil Horlock. Following the Q2 results, the company raised its full-year outlook, expecting revenue of $1.275 billion to $1.325 billion, adjusted EBITDA of $145 million to $165 million, and adjusted free cash flow between $70 million and $80 million.
Conclusion
Blue Bird’s record-breaking earnings and electric school bus deliveries mark a significant milestone for the company. With the support of the Clean School Bus Program and its aggressive strategies, Blue Bird is set for continued growth in the EV market. The company’s stock surged 27% to 47.66 during market action on Thursday, hitting record highs. With a perfect 99 Composite Rating out of 99, Blue Bird is a company to watch in the coming quarters.
