Why Blue Bird Stock Is Flying After Hours

Blue Bird Corp BLBD shares are trading higher in Thursday's after-hours session after the company reported second-quarter results that topped analyst expectations and raised guidance.

• Q2 Revenue: $299.81 million beat estimates of $246.57 million
• Q2 EPS: 27 cents beat estimates of 7 cents

Revenues increased 44% year-over-year. Blue Bird said demand remains strong as it has nearly 5,800 school buses in its backlog. 

"I am incredibly proud of the progress that the team has made and we are finally seeing the results of all the hard work in the financials. The team has been executing on a rigorous plan for over 18 months to improve operations, reduce fixed costs, and recover economics through pricing," said Matthew Stevenson, president and CEO of Blue Bird.

Blue Bird raised full-year 2023 revenue to "just over $1.1 billion." The company expects full-year adjusted EBITDA to be in the range of $55 million to $65 million and adjusted free cash flow to be in a range of $30 million to $40 million. 

BLBD Price Action: Blue Bird shares were up 11.80% after hours at $21.60 at the time of writing, according to Benzinga Pro.

Photo: WOKANDAPIX from Pixabay.