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Mar 30, 2024
Blue Bird Q2 2024 Earnings Report
Reported record results with increased revenue and net income.
Key Takeaways
Blue Bird reported record second quarter results for fiscal year 2024, with a 15% increase in net sales to $346 million and a net income of $26 million, up $19 million from the previous year. Adjusted EBITDA reached a record $46 million, driven by improved operations and strong demand for alternative-powered buses. The company raised its full-year Adjusted EBITDA guidance to $155 million and its long-term Adjusted EBITDA margin outlook to 14%+
Net sales increased by 15% to $346 million.
GAAP net income increased by $19 million to $26 million.
Adjusted EBITDA was a record $46 million, up $25 million year-over-year.
Full year Adjusted EBITDA guidance raised to $155 million.
Revenue by Segment
Forward Guidance
Blue Bird increased its full year financial guidance for Adjusted EBITDA to $155 million, with a 12% margin. The company also raised its full-year guidance for Net Revenue to $1.275-1.325 Billion, Adj. EBITDA to $145-165 million (11.5% - 12.5% margin) and Adj. Free Cash Flow to $70-80 million. Additionally, they are raising their long-term profit outlook towards an Adjusted EBITDA margin of 14%+ on ~$2 billion in revenues.
Positive Outlook
- Full year Adjusted EBITDA guidance raised to $155 million, with a 12% margin.
- Net Revenue guidance increased to $1.275-1.325 Billion.
- Adjusted EBITDA guidance increased to $145-165 million (11.5% - 12.5% margin).
- Adjusted Free Cash Flow guidance increased to $70-80 million.
- Long-term profit outlook raised towards an Adjusted EBITDA margin of 14%+ on ~$2 billion in revenues.
Challenges Ahead
- No specific negatives were mentioned in the provided context regarding forward guidance.
- No specific negatives were mentioned in the provided context regarding forward guidance.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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