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  • Writer's pictureRealFacts Editorial Team

School Bus Maker Posts Q1 EV Growth

School bus in front of Blue Bird headquarters

Blue Bird (BLBD), a school bus manufacturer based in Macon, Georgia, surpassed expectations in its fiscal second quarter, achieving record-breaking earnings largely driven by a surge in electric school bus deliveries. Despite facing losses in 2022, the company has now reported profits for five consecutive quarters. In the latest quarter, Blue Bird posted earnings per share (EPS) of 89 cents, marking a remarkable 230% increase compared to the previous year, with revenue climbing 15% to $346 million. These figures surpassed analyst estimates of 47 cents per share in earnings and sales totaling $298.4 million. The company also disclosed that it achieved a record number of quarterly deliveries for its electric vehicles, ending the quarter with approximately 500 electric school bus orders in its backlog. This marks a 56% increase in EV bookings compared to the previous year.

Blue Bird attributes its strong EV orders to the Environmental Protection Agency's Clean School Bus Program which allocates $5 billion to replace diesel-fueled school buses. Several auto companies, including Elon Musk’s Tesla, have faced challenges in the electric vehicle segment in 2024 but Blue Bird remains optimistic about its EV prospects. Chief Executive Phil Horlock expressed confidence in the company's growth trajectory in the EV sector. He said, "We've been working aggressively with our dealers and school districts in submitting applications and we are confident that continued, exciting growth is ahead for Blue Bird on the EV front." 

The acceleration in the electric vehicle space has sparked excitement about Blue Bird's continued growth prospects. Kit Norton, Investors Business Daily author, reported, “After its Q2 results, Blue Bird raised its full-year outlook Wednesday. It now expects revenue of $1.275 billion to $1.325 billion, adjusted EBITDA of $145 million to $165 million and adjusted free cash flow between $70 million and $80 million. Blue Bird also raised its long-term profit outlook to margin of more than 14% on around $2 billion in revenue.” Fueled by the positive outlook and impressive earnings report, Blue Bird stock soared nearly 25% on Thursday, finishing the day at $46.72 per share.

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