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Sep 30, 2023
Blue Bird Q4 2023 Earnings Report
Blue Bird reported record fourth quarter and full year results, beating 2023 guidance and raising 2024 guidance.
Key Takeaways
Blue Bird Corporation announced record fiscal 2023 fourth quarter and full year results, with a 17.6% increase in net sales for the quarter, driven by higher bus and parts sales. The company's transformation plan led to improved operations and profitability, with significant growth in zero-emission EV unit sales and an increased full year financial guidance for the next year.
Net sales increased by 17.6% to $303.0 million compared to the prior year period.
Net income was $18.6 million, a $41.7 million increase compared to the same period last year.
Adjusted EBITDA increased by $57.0 million to $40.7 million compared to the fourth quarter last year.
The company booked 2,116 units in the fourth quarter of fiscal 2023, compared to 2,016 units in the same period of fiscal 2022.
Blue Bird
Blue Bird
Forward Guidance
Blue Bird is raising its fiscal 2024 guidance to Net Revenue to $1.15-1.25 Billion, Adj. EBITDA of $105-125 million and Adj. Free Cash Flow of $50-60 million.