Blue Bird Q2 net sales $346M (+15%), Adj EBITDA $46M record; raises FY24 guidance

Blue Bird Corp

2024-Q2 EPS reported $1.59 revenue$663,575,000

GAAP net income $26.0M ($0.79 EPS) vs $7.1M ($0.22 EPS) prior year; Adj EPS $0.89 vs $0.27.
Record Q2 Adj EBITDA of $45.8M (13.2% margin), up from $21.1M; driven by 18.8% higher avg bus price.
FY24 Adj EBITDA guidance raised to $145-165M (11.5-12.5% margin); long-term margin target raised to 14%+ on ~$2B revenue.
Backlog ~5,900 units; nearly 500 electric school bus orders; EPA Phase 2 funding of at least $1.5B supports EV growth.
Unit sales 2,254, down 2.2% YoY due to mix and supply constraints; parts revenue +6.1% to $28.2M.

item 2.02 item 7.01 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 1.0

Blue Bird Corp reported fiscal 2024 second quarter results: revenue $345.9 million, net income $26.0 million, EPS $0.79. Guidance raised.

Period: fiscal 2024 second quarter
Revenue: $345.9 million
Net income: $26.0 million
EPS: $0.79
Guidance: raised
Result: reported results

Exact text from the filing

remains very strong with just over 5,900 units in our order backlog. Unit sales in the quarter were down slightly from a year ago, however we grew revenue by 15%, to a record $346 million in a quarter. Adjusted EBITDA was an all-time second quarter record of $46 million, reflecting a 13% margin; that’s an outstanding increase of $25 million over last year. In

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Source: SEC EDGAR

accession 0001589526-24-000054

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