Blue Bird Corporation Posts Top, Bottomline Beats For Q2, Raises FY24 Guidance

Blue Bird Corp BLBD shares are trading higher in Monday's after-hours session after the company reported better-than-expected fourth-quarter financial results and increased full-year 2024 revenue guidance.

Here's a look at some of the details. 

What To Know: Blue Bird reported quarterly earnings of 66 cents per share, exceeding the analyst expectations of 48 cents, a 200% increase over losses of 66 cents per share from the same period last year.

Revenue clocked in at $302.96 million which beat the analyst consensus estimate of $290.11 million, a 17.58% increase over sales of $257.67 million the same period last year.

Adjusted EBITDA for the quarter was $87.9 million, an increase of $102.7 million. Also, the company reported 8,514 buses sold, up 25%.

Blue Bird increased its full-year 2024 revenue guidance to between $1.15 billion and $1.25 billion, versus the $1.12 billion estimate. The company stated it is reconfirming its long-term outlook of profitable growth towards approximately $2 billion in revenues and adjusted EBITDA margins of 12%+.

The company also increased its full-year 2024 adjusted EBITDA outlook to $115 million or approximately a 10% margin.

"I am incredibly proud of our team's progress in transforming our business in 2023, and the outcome of all the hard work is evident in our record financial results," said Phil Horlock, CEO of Blue Bird Corporation.

"The Blue Bird team executed a rigorous transformational plan over the past two years to improve operations and throughput, control fixed costs, recover economics through pricing and expand our leadership position in alternative-powered buses."

Related Link: Oracle Stock Sinks On Mixed Q2 Results: The Details

BLBD Price Action: Shares of Blue Bird were up 8.21% at $23.60 in the after-hours session at the time of publication, according to Benzinga Pro. 

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