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Jul 03, 2021
Blue Bird Q3 2021 Earnings Report
Reported third quarter results with focus on margin expansion and EV growth, impacted by supply chain disruptions.
Key Takeaways
Blue Bird Corporation reported a GAAP net income of $4.3 million on net sales of $196.7 million. The results were impacted by supply chain disruptions, but new order rates were strong, leading to a substantial order backlog. The company's alternative-powered bus sales mix reached a record 56% for the quarter.
Net sales increased by 4.0% to $196.7 million compared to the same period last year.
GAAP net income improved by $3.0 million to $4.3 million compared to the same period last year.
Adjusted EBITDA increased by $0.7 million to $13.2 million compared to the same period last year.
Alternative-powered bus sales mix was a record 56% in the quarter, 10 points above last year.
Forward Guidance
Due to temporary supplier disruptions, Blue Bird is revising its FY2021 guidance to net revenue of $730 - $780 million, Adj. EBITDA between $37 - $43 million and Adjusted Free Cash Flow of $(30) - $(10) million.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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