Business
Blue Bird Delivers Strong Fiscal 2020 Second Quarter Results; Seventh Consecutive Quarter of Adjusted EBITDA Growth
Net Sales increased by $43.8M to $255.4M, up 21% GAAP net loss equal to prior year GAAP Diluted EPS improved by 1 cent to a loss of 2 cents Adjusted EBITDA
About this update from Blue Bird Corporation
[{"type":"text","content":"\nNet Sales increased by $43.8M to $255.4M, up 21%\n\n\nGAAP net loss equal to prior year\n\n\nGAAP Diluted EPS improved by 1 cent to a loss of 2 cents\n\n\nAdjusted EBITDA of $12.7M, up $0.5M\n\n\nFY2020 Guidance Withdrawn due to Uncertainty of COVID-19 Impact\n\n MACON, Ga.--(BUSINESS WIRE)--\nBlue Bird Corporation (“Blue Bird”) (Nasdaq: BLBD), the leading independent designer and manufacturer of school buses, announced today its fiscal 2020 second quarter results. GAAP net loss for the second quarter was $0.6 million, equal to the second quarter of FY2019. Blue Bird's Adjusted EBITDA for the quarter was $12.7 million, an increase of $0.5 million over prior year. Compared with prior year, Diluted EPS and Adjusted Diluted EPS were up 1 cent and down 5 cents, respectively for the quarter.\n\n\nHighlights\n\n\n\n\n(in millions except Unit Sales and EPS data)\n\n\n\nThree Months Ended\nApril 4, 2020\n\n\n\n \n\n\n\nB/(W)\n2019\n\n\n\n \n\n\n\nSix Months Ended\nApril 4, 2020\n\n\n\n \n\n\n\nB/(W)\n2019\n\n\n\n\n\nUnit Sales\n\n\n\n2,594\n\n\n\n \n\n\n\n \n\n\n\n323\n\n\n\n \n\n\n\n \n\n\n\n4,054\n\n\n\n \n\n\n\n \n\n\n\n183\n\n\n\n \n\n\n\n\n\nGAAP Measures:\n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n\n\nRevenue\n\n\n\n$\n\n\n\n255.4\n\n\n\n \n\n\n\n \n\n\n\n$\n\n\n\n43.8\n\n\n\n \n\n\n\n \n\n\n\n$\n\n\n\n408.6\n\n\n\n \n\n\n\n \n\n\n\n$\n\n\n\n42.1\n\n\n\n \n\n\n\n\n\nNet Loss\n\n\n\n$\n\n\n\n(0.6\n\n\n\n)\n\n\n\n \n\n\n\n$\n\n\n\n—\n\n\n\n \n\n\n\n \n\n\n\n$\n\n\n\n(1.0\n\n\n\n)\n\n\n\n \n\n\n\n$\n\n\n\n0.9\n\n\n\n \n\n\n\n\n\nDiluted Loss per Share\n\n\n\n$\n\n\n\n(0.02\n\n\n\n)\n\n\n\n \n\n\n\n$\n\n\n\n0.01\n\n\n\n \n\n\n\n \n\n\n\n$\n\n\n\n(0.04\n\n\n\n)\n\n\n\n \n\n\n\n$\n\n\n\n0.03\n\n\n\n \n\n\n\n\n\nNon-GAAP Measures1:\n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n\n\nAdjusted EBITDA\n\n\n\n$\n\n\n\n12.7\n\n\n\n \n\n\n\n \n\n\n\n$\n\n\n\n0.5\n\n\n\n \n\n\n\n \n\n\n\n$\n\n\n\n20.7\n\n\n\n \n\n\n\n \n\n\n\n$\n\n\n\n1.3\n\n\n\n \n\n\n\n\n\nAdjusted Net Income\n\n\n\n$\n\n\n\n2.8\n\n\n\n \n\n\n\n \n\n\n\n$\n\n\n\n(1.1\n\n\n\n)\n\n\n\n \n\n\n\n$\n\n\n\n4.8\n\n\n\n \n\n\n\n \n\n\n\n$\n\n\n\n(0.4\n\n\n\n)\n\n\n\n\n\nAdjusted Diluted Earnings per Share\n\n\n\n$\n\n\n\n0.10\n\n\n\n \n\n\n\n \n\n\n\n$\n\n\n\n(0.05\n\n\n\n)\n\n\n\n \n\n\n\n$\n\n\n\n0.18\n\n\n\n \n\n\n\n \n\n\n\n$\n\n...