Business
Blue Bird Reports Fiscal 2021 Third Quarter Results Focused on Margin Expansion and EV Growth Impacted by Supply Chain Disruptions
Net Sales of $196.7M and GAAP Net Income of $4.3M Firm Order Backlog of 4,000+ units Electric Bus Backlog at 380+ units Adjusted EBITDA of $13.2M with 2,024
About this update from Blue Bird Corporation
[{"type":"text","content":"\nNet Sales of $196.7M and GAAP Net Income of $4.3M \n\nFirm Order Backlog of 4,000+ units\n\nElectric Bus Backlog at 380+ units\n\nAdjusted EBITDA of $13.2M with 2,024 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 third quarter results. GAAP net income for the quarter of $4.3 million was $3.0 better than the same FY2020 fiscal period. Adjusted EBITDA for the quarter was $13.2 million, $0.7 million above last year. Supply chain disruptions resulted in approximately 550 fewer bookings than planned in the period. Order backlog is strong at more than 4,000 buses, filling all remaining production slots for FY2021 and now filling production slots in FY2022.\n\nHighlights \n\n\n\n(in millions except Unit Sales and EPS data)\n\n\n\n\nThree Months Ended \n\n\nJuly 3, 2021\n\n\n\n \n\n\n\nB/(W) \n\n\n2020\n\n\n\n \n\n\n\nNine Months Ended \n\n\nJuly 3, 2021\n\n\n\n \n\n\n\nB/(W) \n\n\n2020\n\n\n\n\n\nUnit Sales\n\n\n\n\n2,024\n\n\n\n \n\n\n\n \n\n\n\n76\n\n\n\n \n\n\n\n \n\n\n\n4,768\n\n\n\n \n\n\n\n \n\n\n\n(1,234)\n\n\n\n \n\n\n\n\n\nGAAP Measures:\n\n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n\n\nRevenue\n\n\n\n\n$\n\n\n\n196.7\n\n\n\n \n\n\n\n \n\n\n\n$\n\n\n\n7.5\n\n\n\n \n\n\n\n \n\n\n\n$\n\n\n\n491.8\n\n\n\n \n\n\n\n \n\n\n\n$\n\n\n\n(106.0)\n\n\n\n \n\n\n\n\n\nNet Income\n\n\n\n\n$\n\n\n\n4.3\n\n\n\n \n\n\n\n \n\n\n\n$\n\n\n\n3.0\n\n\n\n \n\n\n\n \n\n\n\n$\n\n\n\n2.1\n\n\n\n \n\n\n\n \n\n\n\n$\n\n\n\n1.9\n\n\n\n \n\n\n\n\n\nDiluted Earnings per Share\n\n\n\n\n$\n\n\n\n0.16\n\n\n\n \n\n\n\n \n\n\n\n$\n\n\n\n0.11\n\n\n\n \n\n\n\n \n\n\n\n$\n\n\n\n0.08\n\n\n\n \n\n\n\n \n\n\n\n$\n\n\n\n0.07\n\n\n\n \n\n\n\n\n\nNon-GAAP Measures1:\n\n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n\n\nAdjusted EBITDA\n\n\n\n\n$\n\n\n\n13.2\n\n\n\n \n\n\n\n \n\n\n\n$\n\n\n\n0.7\n\n\n\n \n\n\n\n \n\n\n\n$\n\n\n\n26.5\n\n\n\n \n\n\n\n \n\n\n\n$\n\n\n\n(6.3)\n\n\n\n \n\n\n\n\n\nAdjusted Net Income\n\n\n\n\n$\n\n\n\n5.2\n\n\n\n \n\n\n\n \n\n\n\n$\n\n\n\n0.9\n\n\n\n \n\n\n\n \n\n\n\n$\n\n\n\n6.6\n\n\n\n \n\n\n\n \n\n\n\n$\n\n\n\n(2.2)\n\n\n\n \n\n\n\n\n\nAdjusted Diluted Earnings per Share\n\n\n\n\n$\n\n\n\n0.19\n\n\n\n \n\n\n\n \n\n\n\n$\n\n\n\n0.03\n\n\n\n \n\...