Blue Bird reports Q1 adjusted EPS 92c, consensus 81c

Reports Q1 revenue $313.9M, consensus $308.31M. “I am incredibly proud of our team’s achievements in delivering another outstanding result and near record profit in the first quarter,” said Phil Horlock, President & CEO of Blue Bird (BLBD) Corporation. “The Blue Bird team continued to exceed expectations, improving operations, driving new orders, and expanding our leadership in alternative-powered buses. Market demand remains very strong with nearly 4,400 units in our order backlog at the end of the first quarter. Unit sales were about the same as last year, with revenue down by $3.8M, driven by product mix, and we delivered an exceptional 14.6% Adj. EBITDA margin. With 94% of our first quarter unit sales mix comprised of internal combustion engine buses, this result demonstrates the very strong earnings power of our base business.