Business
Blue Bird Reports Fiscal 2021 Fourth Quarter and Full Year Results; Impacted by Supply Chain Disruptions; Strong Demand and Record Firm Order Backlog; Well Positioned for EV Market Expansion
Net Sales of $684M and GAAP Net income of $(0.3)M; Firm Order Backlog of 4,200+ units; Electric Bus Backlog at 260+ units; Adjusted EBITDA of $34.1M with
About this update from Blue Bird Corporation
[{"type":"text","content":"\nNet Sales of $684M and GAAP Net income of $(0.3)M;\nFirm Order Backlog of 4,200+ units;\nElectric Bus Backlog at 260+ units;\nAdjusted EBITDA of $34.1M with 6,679 Buses Sold\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 2021 fourth quarter and full year results. GAAP net income for the year of $(0.3) million was $12.5 million lower than FY2020. Adjusted EBITDA for the year was $34.1 million, $20.6 million lower than last year. Supply chain disruptions resulted in more than 2,000 bookings being delayed to fiscal 2022. Order backlog is strong at more than 4,200 buses, filling production slots through the first half of FY2022.\n\nHighlights\n\n\n\n(in millions except Unit Sales and EPS data)\n\n\n\nThree Months Ended\nOctober 2, 2021\n\n\n\n \n\n\n\nB/(W)\n2020\n\n\n\n \n\n\n\nFiscal Year Ended\nOctober 2, 2021\n\n\n\n \n\n\n\nB/(W)\n2020\n\n\n\n\n\nUnit Sales\n\n\n\n1,911\n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n(965\n\n\n\n)\n\n\n\n \n\n\n\n \n\n\n\n6,679\n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n(2,199\n\n\n\n)\n\n\n\n \n\n\n\n\n\nGAAP Measures:\n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n\n\nRevenue\n\n\n\n$\n\n\n\n192.2\n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n$\n\n\n\n(89.2\n\n\n\n)\n\n\n\n \n\n\n\n \n\n\n\n$\n\n\n\n684.0\n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n$\n\n\n\n(195.2\n\n\n\n)\n\n\n\n \n\n\n\n\n\nNet Income\n\n\n\n$\n\n\n\n(2.4\n\n\n\n)\n\n\n\n \n\n\n\n \n\n\n\n$\n\n\n\n(14.3\n\n\n\n)\n\n\n\n \n\n\n\n \n\n\n\n$\n\n\n\n(0.3\n\n\n\n)\n\n\n\n \n\n\n\n \n\n\n\n$\n\n\n\n(12.5\n\n\n\n)\n\n\n\n \n\n\n\n\n\nDiluted Earnings per Share\n\n\n\n$\n\n\n\n(0.09\n\n\n\n)\n\n\n\n \n\n\n\n \n\n\n\n$\n\n\n\n(0.53\n\n\n\n)\n\n\n\n \n\n\n\n \n\n\n\n$\n\n\n\n(0.01\n\n\n\n)\n\n\n\n \n\n\n\n \n\n\n\n$\n\n\n\n(0.46\n\n\n\n)\n\n\n\n \n\n\n\n\n\nNon-GAAP Measures1:\n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n\n\nAdjusted EBITDA\n\n\n\n$\n\n\n\n7.6\n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n$\n\n\n\n(14.3\n\n\n\n)\n\n\n\n \n\n\n\n \n\n\n\n$\n\n\n\n34.1\n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n$\n\n\n\n(20.6\n\n\n\n)\n\n\n\n \n\n\n\n\n\nAdjusted Net Income\n\n\n\n$\n\n\n\n2.0\n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n$\n\n\n\n(11.3\n\n\n\n)\n\n\n\n \n\n\n\n \n\n\n\n$\n\n\n\n8.7\n\n\n\n \n\n\n\n \n\n\n\n \n\n\n...