Business
Blue Bird Reports Fiscal 2022 Fourth Quarter and Full Year Results; Record EV Sales and Backlog; Positioned for a Strong Recovery in Fiscal 2023
Net Sales of $801M and GAAP Net Loss of $46M Adjusted EBITDA of $(15)M with 6,822 Buses Sold Robust Backlog of $600M+ and 5,000+ Units 850+ EVs on the Road
About this update from Blue Bird Corporation
[{"type":"text","content":"\nNet Sales of $801M and GAAP Net Loss of $46M\n\nAdjusted EBITDA of $(15)M with 6,822 Buses Sold\n\nRobust Backlog of $600M+ and 5,000+ Units\n\n850+ EVs on the Road\n\nFY2023 Guidance Announced with Adj. EBITDA of ~$40M\n\n MACON, Ga.--(BUSINESS WIRE)--\nBlue Bird Corporation (“Blue Bird”) (Nasdaq: BLBD), the leader in electric and low-emission school buses, announced today its fiscal 2022 fourth quarter and full year results.\n\nHighlights\n\n\n\n(in millions except Unit Sales and EPS data)\n\n\n\nThree Months Ended\n\n\nOctober 1, 2022\n\n\n\n \n\n\n\nB/(W)\n\n\n2021\n\n\n\n \n\n\n\nFiscal Year Ended\n\n\nOctober 1, 2022\n\n\n\n \n\n\n\nB/(W)\n\n\n2021\n\n\n\n\n\nUnit Sales\n\n\n\n \n\n\n\n2,016\n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n105\n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n6,822\n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n143\n\n\n\n \n\n\n\n\n\nGAAP Measures:\n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n\n\nRevenue\n\n\n\n$\n\n\n\n257.7\n\n\n\n \n\n\n\n \n\n\n\n$\n\n\n\n65.5\n\n\n\n \n\n\n\n \n\n\n\n$\n\n\n\n800.6\n\n\n\n \n\n\n\n \n\n\n\n$\n\n\n\n116.6\n\n\n\n \n\n\n\n\n\nNet Loss\n\n\n\n$\n\n\n\n(23.1\n\n\n\n)\n\n\n\n \n\n\n\n$\n\n\n\n(20.7\n\n\n\n)\n\n\n\n \n\n\n\n$\n\n\n\n(45.8\n\n\n\n)\n\n\n\n \n\n\n\n$\n\n\n\n(45.5\n\n\n\n)\n\n\n\n\n\nDiluted Loss per Share\n\n\n\n$\n\n\n\n(0.72\n\n\n\n)\n\n\n\n \n\n\n\n$\n\n\n\n(0.63\n\n\n\n)\n\n\n\n \n\n\n\n$\n\n\n\n(1.48\n\n\n\n)\n\n\n\n \n\n\n\n$\n\n\n\n(1.46\n\n\n\n)\n\n\n\n\n\nNon-GAAP Measures1:\n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n\n\nAdjusted EBITDA\n\n\n\n$\n\n\n\n(16.4\n\n\n\n)\n\n\n\n \n\n\n\n$\n\n\n\n(24.0\n\n\n\n)\n\n\n\n \n\n\n\n$\n\n\n\n(14.7\n\n\n\n)\n\n\n\n \n\n\n\n$\n\n\n\n(48.8\n\n\n\n)\n\n\n\n\n\nAdjusted Net Loss\n\n\n\n$\n\n\n\n(21.4\n\n\n\n)\n\n\n\n \n\n\n\n$\n\n\n\n(23.4\n\n\n\n)\n\n\n\n \n\n\n\n$\n\n\n\n(36.0\n\n\n\n)\n\n\n\n \n\n\n\n$\n\n\n\n(44.6\n\n\n\n)\n\n\n\n\n\nAdjusted Diluted Loss per Share\n\n\n\n$\n\n\n\n(0.66\n\n\n\n)\n\n\n\n \n\n\n\n$\n\n\n\n(0.73\n\n\n\n)\n\n\n\n \n\n\n\n$\n\n\n\n(1.15\n\n\n\n)\n\n\n\n \n\n\n\n$\n\n\n\n(1.46\n\n\n\n)\n\n\n\n\n\n\n1\n\n\n\nReconciliation to relevant GAAP metrics shown below\n\n\n\n\n\n \n\n\n“During a challenging 2022, the Blue Bird team developed and began execution of a rigorous plan to improve operations, reduce fixed costs, and recover economics through pricing. I am c...