Blue Bird sees FY24 revenue of $1.35B, consensus $1.32B

Earlier, Blue Bird (BLBD) announced select preliminary full-year, unaudited results for fiscal 2024, including 9,000 buses sold, “record” net sales revenue of $1.35B and “record” EV sales of 704 buses. “Blue Bird sold 9,000 buses in fiscal 2024, up 6% and almost 500 units over prior year, reflecting the top end of guidance. Record sales revenue of $1.35B, was up 19% compared with prior year, and above guidance. Record electric vehicle sales of 704 buses was a significant 29% increase over last year. Strong new order intake continued, yielding a fiscal year-end total backlog of more than 4,800 units, worth around $735M in revenue, up 10% from last year. EV backlog grew to a record level of nearly 630 buses, worth approximately $200M, driven largely by the ramp in orders from rounds 2 and 3 of the EPA’s Clean School Bus program, as expected,” the company stated. “We are very pleased with our strong year-end performance resulting from the hard work by our team. We are looking forward to discussing our full year 2024 results and fiscal 2025 outlook in our next earnings call on November 25,” added Blue Bird’s President and CEO, Phil Horlock.