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Dec 31, 2022
Blue Bird Q1 2023 Earnings Report
Reported record first quarter revenues and EV sales, and raised guidance for the year.
Key Takeaways
Blue Bird Corporation reported strong first quarter results with record revenues and EV sales. Despite a GAAP net loss, the company is optimistic about returning to historical profitability during fiscal year 2023, raising its full year guidance for net revenue and adjusted EBITDA.
Net sales increased by 82.4% to $235.7 million compared to the prior year period.
The company has a robust backlog of over $675 million and 5,300 units.
Electric school bus bookings increased by 130%.
FY2023 guidance increased to adjusted EBITDA of approximately $43 million.
Blue Bird
Blue Bird
Blue Bird Revenue by Segment
Revenue by Segment
Bus Sales Revenue
CapyFin.comParts Sales Revenue
CapyFin.com Forward Guidance
Blue Bird raised its full year fiscal 2023 guidance to Net Revenue of just over $1 Billion, Adj. EBITDA of $40-46 million and Adj. Free Cash Flow of $5-11 million. Additionally, the company reconfirmed its long-term outlook of profitable growth towards $2 billion in revenues and Adjusted EBITDA margins of 12%, or $250 million.
Positive Outlook
- Net Revenue of just over $1 Billion
- Adj. EBITDA of $40-46 million
- Adj. Free Cash Flow of $5-11 million
- Profitable growth towards $2 billion in revenues
- Adjusted EBITDA margins of 12%, or $250 million
Revenue & Expenses
Visualization of income flow from segment revenue to net income