Blue Bird reports record turnover and growth in electric vehicle sales. $BLBD (-0.3%)
MACON, Georgia - Blue Bird Corporation (NASDAQ:BLBD), a manufacturer of electric and low-emission school buses, has released preliminary financial results for fiscal year 2024 showing continued upward growth in sales and revenue. The company sold 9,000 buses during the period, up 6% year-over-year and at the high end of the company's guidance.
Net sales reached a new high of 1.35 billion US dollars, an increase of 19% compared to the previous year and exceeding the company's own forecasts. Of particular note is the 29% increase in sales of electric vehicles (EVs) to 704 buses, highlighting the significant progress made in the area of low-emission vehicles.
Blue Bird also reported a robust order intake, ending the fiscal year with an order backlog of over 4,800 units, representing an estimated sales value of approximately $735 million - a 10% increase over the previous year. The order backlog for electric vehicles alone includes nearly 630 buses valued at approximately $200 million, largely due to follow-on orders from the EPA's Clean School Bus Program.
Phil Horlock, President and CEO of Blue Bird, expressed satisfaction with the company's performance and attributed the success to the team's efforts. Full results for fiscal year 2024 and the outlook for 2025 will be discussed in the upcoming conference call on November 25, 2024.
Blue Bird has been a leader in school bus innovation since 1927, with a focus on safety, reliability and durability. With over 20,000 propane, natural gas and electric buses in service, the company is at the forefront of the industry's transition to greener energy solutions. This information is based on a press release from Blue Bird Corporation.
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