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Jan 04, 2020
Blue Bird Q1 2020 Earnings Report
Blue Bird's first quarter 2020 results were announced, featuring an improvement in GAAP net loss and growth in Adjusted EBITDA.
Key Takeaways
Blue Bird Corporation reported a GAAP net loss of $0.4 million for the first quarter of fiscal year 2020, which is an improvement of $0.8 million compared to the previous year. The company's Adjusted EBITDA for the quarter was $8.0 million, an increase of $0.8 million year-over-year. The company reaffirms its FY2020 revenue guidance at $1,020 - $1,050 million and Adjusted EBITDA guidance at $90 - $95 million.
GAAP net loss improved by $0.8 million to $0.4 million.
GAAP Diluted EPS improved by 3 cents to a loss of 2 cents.
Adjusted EBITDA reached $8.0 million, up $0.8 million year-over-year.
FY2020 guidance was reaffirmed.
Blue Bird
Blue Bird
Forward Guidance
Blue Bird reaffirms its net revenue and profit outlook for FY2020, with full-year revenue guidance at $1,020- $1,050 million and Adjusted EBITDA guidance at $90 - $95 million. Adjusted Free Cash Flow guidance at $30 - $35 million.
Positive Outlook
- Full-year revenue guidance at $1,020 - $1,050 million.
- Adjusted EBITDA guidance at $90 - $95 million.
- Adjusted Free Cash Flow guidance at $30 - $35 million.
- Continued growth in alternative-fueled bus sales.
- Focus on driving higher revenue.
Challenges Ahead
- Higher commodity costs.
- Lower volume.
- Key investments in production facility through FY2020 to drive productivity and quality.
- Net sales were $153.2 million for the first quarter of fiscal 2020, a decrease of $1.7 million, or 1.1%, from prior year period.
- Bus unit sales were 1,460 units for the quarter compared with 1,600 units for the same period last year.