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Apr 01, 2023
Blue Bird Q2 2023 Earnings Report
Reported fiscal year 2023 second quarter results, turnaround ahead of schedule, and raised guidance for the year.
Key Takeaways
Blue Bird Corporation reported strong Q2 2023 results, with net sales of $299.8 million and a GAAP net income of $7.1 million. The company's turnaround plan is progressing faster than expected, leading to an increase in full-year guidance. The backlog remains robust at over $775 million, with nearly 5,800 units.
Net sales reached $299.8 million, reflecting a 44.4% increase compared to the prior year.
GAAP net income was $7.1 million, a significant improvement from the previous year.
Adjusted EBITDA stood at $19.8 million with 2,304 buses sold during the quarter.
The company raised its full-year fiscal 2023 guidance to approximately $60 million in Adjusted EBITDA.
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 $1.1 Billion, Adj. EBITDA of $55-65 million and Adj. Free Cash Flow of $30-40 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 $1.1 Billion
- Adj. EBITDA of $55-65 million
- Adj. Free Cash Flow of $30-40 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