Blue Bird (BLBD) Earnings Call Presentation

Financial Performance and Guidance - Blue Bird confirms FY25 revenue guidance of $1425 million to $1475 million[45] - The company anticipates an adjusted EBITDA of approximately $200 million with a margin of ~14% for FY25[45, 47] - Q2 FY25 adjusted EBITDA reached $49 million with a 14% margin, marking a $3 million increase compared to Q2 FY24[66, 67, 69] - Adjusted free cash flow for Q2 FY25 was $19 million[66, 69] Industry and Market Position - The school bus industry is expected to reach approximately 31,000 units in FY25[22] - Over 47% of school buses in service are 10 years or older, supporting replacement demand[24] - Blue Bird holds a leading market position in alternative power and electric school buses, with over 60% of sales being non-diesel[31, 34] Strategic Initiatives - Blue Bird is expanding its total addressable market (TAM) through the introduction of an EV commercial chassis offering[15, 40] - The company is focused on reducing structural costs through Lean Transformation initiatives[15] - Blue Bird was awarded an $80 million grant by the DOE for a new plant to support profitable growth plans for 12,000+ units[50, 52]