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Dec 30, 2023
Blue Bird Q1 2024 Earnings Report
Blue Bird reported record results, driven by strong sales and improved operational efficiency.
Key Takeaways
Blue Bird reported record fiscal 2024 first quarter results with net sales of $317.7 million, up 35% year-over-year, and GAAP net income of $26.2 million, a $37.4 million increase. The company achieved an all-time record adjusted EBITDA of $47.6 million, up $51.1 million, with 2,129 buses sold, a 9% increase. FY2024 adjusted EBITDA guidance was raised to $130 million or 11% of revenue.
Net sales increased by 35% to $317.7 million.
GAAP net income rose by $37.4 million to $26.2 million.
Adjusted EBITDA reached a record $47.6 million, reflecting a 15% margin.
Unit sales increased by 9% to 2,129 buses.
Revenue by Segment
Forward Guidance
Blue Bird increased its full year financial guidance for Adjusted EBITDA to $130 million, with an 11% margin. They are also raising their fiscal 2024 full-year guidance to Net Revenue to $1.15-1.25 Billion, Adj. EBITDA of $120-140 million and Adj. Free Cash Flow of $60-70 million.
Positive Outlook
- Increased full year Adjusted EBITDA guidance to $130 million with an 11% margin.
- Raising fiscal 2024 full-year guidance to Net Revenue to $1.15-1.25 Billion.
- Raising fiscal 2024 Adj. EBITDA guidance to $120-140 million.
- Raising fiscal 2024 Adj. Free Cash Flow guidance to $60-70 million.
- Reconfirming long-term outlook of profitable growth towards ~$2 billion in revenues and Adjusted EBITDA margins of 12%+
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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