Blue Bird reports Q3 adjusted EPS 44c, consensus 25c

Reports Q3 revenue $294.3M, consensus $285M. “I am incredibly proud of the progress by our team in completing our business turnaround, and the outcome of all the hard work is evident in our financial results. The Blue Bird team has been executing a rigorous plan for over 18 months to improve operations, reduce fixed costs and recover economics through pricing,” said Phil Horlock, CEO of Blue Bird Corporation. “The market demand for Blue Bird’s school buses remains very strong with nearly 5,200 units in our order backlog. Unit sales were 24% higher than a year ago and we grew revenue by an exceptional 43% in the third quarter. Adjusted EBITDA was over 3X last year’s third quarter – in summary, a terrific quarter for Blue Bird, with an Adjusted EBITDA margin of almost 10%.”