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Dec 28, 2024
Blue Bird Q1 2025 Earnings Report
Blue Bird reported its fiscal 2025 first quarter results, beating guidance and reaffirming its full-year outlook.
Key Takeaways
Blue Bird reported strong fiscal first quarter 2025 results, with net sales of $313.9 million and GAAP net income of $28.7 million. The company exceeded its guidance, driven by strong demand for school buses and improved operational performance, particularly in its base internal combustion engine (ICE) business, while also making progress in electric bus deliveries.
Net Sales for Q1 fiscal 2025 were $313.9 million, a slight decrease of 1.2% from the prior year, primarily due to product mix changes.
GAAP Net Income increased to $28.7 million, up $2.6 million from the prior year, largely due to emission credits sold.
Adjusted EBITDA was $45.8 million, with a strong 14.6% margin, demonstrating robust earnings power from the base business.
The company reaffirmed its full-year fiscal 2025 guidance for Adjusted EBITDA at $200 million and Net Revenue at $1.4-1.5 billion, anticipating sustained profitable growth.
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 reaffirmed its full-year fiscal 2025 financial guidance, projecting Net Revenue between $1.4 billion and $1.5 billion, Adjusted EBITDA between $185 million and $215 million, and Adjusted Free Cash Flow between $40 million and $60 million. The company also confirmed its long-term profit outlook for an Adjusted EBITDA margin of 15%+ on approximately $2 billion in revenues.
Positive Outlook
- Reaffirmed full-year 2025 Adjusted EBITDA guidance at $200 million, which would be an all-time full-year record.
- Reaffirmed full-year 2025 Net Revenue guidance of $1.4-1.5 billion.
- Reaffirmed full-year 2025 Adjusted Free Cash Flow guidance of $40-60 million.
- Confirmed long-term profit outlook towards an Adjusted EBITDA margin of 15%+ on ~$2 billion in revenues.
- Strong Q1 performance provides confidence in achieving full-year targets.
Challenges Ahead
- No specific negative forward guidance points were highlighted in the provided text.
- Potential impact of product mix changes on revenue per unit.
- Ongoing inflationary pressures could affect costs.
- Market acceptance of new products, especially EVs, remains a factor.
- Potential for volatility in funding sources for bus purchases.
Revenue & Expenses
Visualization of income flow from segment revenue to net income