Supply Chain Disruptions - The company experienced significant supply chain disruptions that began in the second half of fiscal 2021 and continued into fiscal 2024, impacting production capabilities and increasing costs[86]. - Supply chain constraints have resulted in significant economic disruption, adversely affecting the company's operations and cash flows[88]. - The impacts of Russia's invasion of Ukraine have contributed to higher inventory purchase costs and volatility in commodity prices, further straining the supply chain[95]. - The company has no direct exposure to Ukraine or Russia but has been affected indirectly through increased costs of materials and components[91]. - Management believes that ongoing supply chain disruptions could continue to materially impact results if parts and supplies cannot be obtained in sufficient quantities[88]. - Supply chain disruptions continued to impact operations, limiting the number of school buses produced and sold, while also increasing manufacturing costs[153]. Financial Performance - Net sales for the third quarter of fiscal 2024 were $333.4 million, an increase of $39.1 million, or 13.3%, compared to $294.3 million for the same period in fiscal 2023[112]. - Net sales for the nine months ended June 29, 2024, were $996.9 million, an increase of $167.1 million, or 20.1%, compared to $829.8 million for the same period in 2023[126]. - Operating profit for the third quarter was $39.7 million, an increase of $20.3 million compared to $19.4 million for the same period in fiscal 2023[116]. - Operating profit was $113.8 million, an increase of $91.3 million compared to $22.5 million for the same period in 2023[133]. - The company experienced a significant increase in net income of $75.7 million during the first nine months of fiscal 2024 compared to the same period in fiscal 2023[164]. Cost and Pricing - The company faced higher inventory purchase costs, including freight costs, which negatively impacted gross profit beginning in the latter part of fiscal 2022 and continuing into fiscal 2024[95]. - The company has implemented periodic pricing actions to ensure that sales prices keep pace with increased costs to procure inventory[86]. - The company reported that cumulative price increases began to have a significant positive impact on sales and gross profit during the remainder of fiscal 2023 and the first nine months of fiscal 2024[100]. - Parts sales increased by $1.3 million, or 5.5%, primarily due to price increases driven by inflationary pressures[114]. - Parts sales increased by $4.7 million, or 6.4%, primarily due to price increases driven by inflationary pressures[128]. Backlog and Orders - Blue Bird's backlog remained strong at approximately 4,600 units as of September 30, 2023, and increased to 5,200 units by June 29, 2024, despite selling over 8,500 units during fiscal 2023[87]. - New bus orders remained robust due to pent-up demand from the COVID-19 pandemic and ongoing supply chain challenges, contributing to a strong backlog[87]. Cash Flow and Liquidity - Cash provided by operating activities totaled $55.8 million for the nine months ended June 29, 2024, a decrease of $28.4 million from $84.1 million during the same period in 2023[160]. - Free Cash Flow for the nine months ended June 29, 2024 was $45.6 million, which is $32.1 million lower than the $77.7 million reported for the nine months ended July 1, 2023[167]. - The company had $88.4 million of available cash and $143.3 million of additional borrowings available under its revolving credit facility as of June 29, 2024[142]. - The company executed a $250.0 million five-year credit agreement, which includes a term loan facility of $100.0 million and a revolving credit facility of $150.0 million[144]. - The company borrowed $100.0 million from the Term Loan Facility and $36.2 million from the Revolving Credit Facility to pay off $131.8 million of term loan indebtedness and associated costs[147]. Segment Performance - The company operates in two segments: the Bus segment, which includes the design and sales of school buses, and the Parts segment, which involves the sale of replacement bus parts[109]. - The company evaluates segment performance based on revenues and gross profit, with the Chief Executive Officer identified as the chief operating decision maker[109]. Tax and Interest Expenses - Interest expense decreased by $2.4 million, or 53.3%, to $2.1 million due to a lower interest rate and reduced borrowings[117]. - Income tax expense for the third quarter was $9.9 million, compared to $1.9 million for the same period in fiscal 2023[120]. - The effective tax rate for the third quarter was 27.7%, influenced by state taxes and certain permanent items[121]. - The effective tax rate for the nine months ended June 29, 2024, was 26.4%, compared to 22.2% for the same period in 2023[140].

Highlights BLUE BIRD REPORTS FISCAL 2024 THIRD QUARTER RECORD RESULTS; RAISES 2024 GUIDANCE AND LONG-TERM OUTLOOK Net Sales of $333M, up 13% and GAAP Net Income of $29M, up $19M Record Quarterly Adj. EBITDA of $48M, up $19M with 2,151 Buses Sold FY2024 Adj. EBITDA Guidance Raised to $175M or 13% of Revenue Long-Term Adj. EBITDA Margin Outlook Raised to 15% MACON, Ga. (August 7, 2024) – Blue Bird Corporation ("Blue Bird") (Nasdaq: BLBD), the leader in electric and low-emission school buses, announced today i ...

Blue Bird Corporation (NASDAQ:BLBD) Q2 2024 Results Conference Call May 8, 2024 4:30 PM ET Company Participants Mark Benfield - IR Phil Horlock - CEO Razvan Radulescu - CFO Conference Call Participants Eric Stine - Craig-Hallum Mike Shlisky - D.A. Davidson Chris Pierce - Needham Operator Hello and welcome to the Blue Bird Corporation Fiscal 2024 Second Quarter Earning Call. My name is Natasha, and I will be your moderator for today. [Operator Instructions] I now have the pleasure of handing you over to your ...

(478) 822-2801 (Registrant's telephone number, including area code) Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See the definitions of "large accelerated filer," "accelerated filer," "smaller reporting company," and "emerging growth company" in Rule 12b-2 of the Exchange Act. At May 3, 2024, 32,299,065 shares of the registrant's common stock, $0.0001 par value, were outs ...

Highlights MACON, Ga. (May 8, 2024) – Blue Bird Corporation ("Blue Bird") (Nasdaq: BLBD), the leader in electric and low-emission school buses, announced today its fiscal 2024 second quarter results. In expanding our leadership position in alternative-powered school buses, we achieved another record quarter of deliveries of our electric-powered buses. Additionally, at quarter-end, we had nearly 500 electric school bus orders in our backlog. We saw strong growth in EV orders from the EPA's Clean School Bus P ...

BLUE BIRD CORPORATION (NASDAQ: BLBD) Earnings Conference Call February 7, 2024 Introductions & Forward-Looking Statements Key Results and Highlights Phil Horlock CEO Outlook Phil Horlock CEO This presentation includes forward-looking statements, including statements regarding full-year guidance and seasonality, that are subject to risks that could cause actual results to be materially different. Those risks include, among others, matters we have noted in our latest earnings release and filings with the SEC. ...

Blue Bird Corporation (NASDAQ:BLBD) Q1 2024 Results Earnings Conference Call February 7, 2024 4:30 PM ET Company Participants Mark Benfield - Head of Invest Relations Phil Horlock - Chief Executive Officer Razvan Radulescu - Chief Financial Officer Conference Call Participants Michael Shlisky - D.A. Davidson & Co. Eric Stine - Craig-Hallum Craig Irwin - ROTH-MKM Operator Hello, all. And welcome to the Blue Bird Corporation Fiscal 2024 First Quarter Earnings. My name is Lydia, and I'll be your operator today ...

Financial Performance - Total net sales for the three months ended December 30, 2023, were $317.66 million, a 34.7% increase from $235.73 million for the same period in 2022[106]. - Gross profit for the three months ended December 30, 2023, was $63.56 million, compared to $7.46 million for the same period in 2022, indicating a significant improvement[113]. - Operating profit for the three months ended December 30, 2023, was $37.96 million, a turnaround from an operating loss of $9.38 million in the same period last year[113]. - Net income for the three months ended December 30, 2023, was $26.15 million, compared to a net loss of $11.29 million for the same period in 2022[113]. - Shipping and handling revenues increased to $4.7 million for the three months ended December 30, 2023, up from $4.3 million in the same period of 2022[101]. Debt and Financing - Blue Bird executed a $250 million five-year credit agreement with Bank of Montreal, including a $100 million term loan facility and a $150 million revolving credit facility[80][81]. - As of December 30, 2023, the company had $98.5 million in term loan borrowings, down from $130.3 million as of September 30, 2023[93]. - The weighted-average annual effective interest rates for term loans were 9.9% for the three months ended December 30, 2023, compared to 10.9% for the same period in 2022[94]. - Interest expense for the three months ended December 30, 2023, was $3.63 million, down from $4.20 million in the same period of 2022[113]. Operational Challenges - Supply chain disruptions continued into the first quarter of fiscal 2024, impacting the number of school buses produced and sold, as well as increasing manufacturing costs[77]. - The company faced challenges due to the COVID-19 pandemic and Russia's invasion of Ukraine, which negatively impacted operations and cash flows[76][78]. Revenue Expectations - The company expects to recognize approximately $7.1 million in revenue during fiscal 2024 from federal funds awarded for zero and low emission school buses under the U.S. Infrastructure Investment and Jobs Act[99]. Inventory and Liabilities - Total inventories as of December 30, 2023, were $142.46 million, an increase from $135.29 million as of September 30, 2023[124]. - Total accrued self-insurance liability as of December 30, 2023, was $6.40 million, slightly up from $6.25 million as of September 30, 2023[100]. Taxation - The effective tax rate for the three months ended December 31, 2022, was 20.8%, aligning closely with the statutory federal income tax rate of 21%[104]. Pension and Accounting - The company reported a net periodic pension benefit expense of $36,000 for the three months ended December 30, 2023, compared to $178,000 for the same period in 2022[79]. - The company plans to provide updated disclosures required by new accounting standards in the periods they become effective[123]. Market Position - The company is recognized as a leader in alternative powered school buses, including propane, gasoline, and all-electric options[75]. - The company has taken periodic pricing actions to ensure that sales prices for buses keep pace with increased costs of inventory procurement[77].

Blue Bird Corporation (NASDAQ:BLBD) Q4 2023 Earnings Conference Call December 11, 2023 4:30 PM ET Company Participants Mark Benfield - Head of Invest Relations Phil Horlock - Chief Executive Officer Razvan Radulescu - Chief Financial Officer Conference Call Participants Eric Stine - Craig-Hallum Mike Shlisky - D.A. Davidson Craig Irwin - ROTH MKM Operator Hello, everyone. Thank you for attending Blue Bird Corporation's Fiscal 2023 Fourth Quarter and Full Year Earnings Call. My name is Sierra, and I'll be yo ...

Introductions & Forward-Looking Statements Mark Benfield Executive Director, Investor Relations Results and Highlights Phil Horlock CEO Financial Results Razvan Radulescu CFO Outlook Phil Horlock CEO Q&A Group 2 Introductions & Forward-Looking Statements • Ability to expand market share Financial Results Forward Looking Statements • Future profitability • Other statements preceded by, followed by or that include the words "estimate," "plan," "project," "forecast," "intend," "expect," "anticipate," "believe, ...