secwatch.observer — SEC 8-K summary
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Issuer:     Blue Bird Corp (BLBD)
CIK:        0001589526
Form:       8-K
Filed at:   2024-05-08T23:59:59+00:00
Accession:  0001589526-24-000054
Event type: earnings
Sentiment:  positive
Materiality: 0.85
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1589526/000158952624000054/0001589526-24-000054-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1589526/000158952624000054/blbd-20240508.htm
  HTML page:      https://secwatch.observer/filing/0001589526-24-000054

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer