MACON, Ga. - Blue Bird (NASDAQ:BLBD) Corporation (NASDAQ:BLBD) reported fourth quarter earnings and revenue that beat analyst expectations, but shares fell 6.5%.
The school bus manufacturer posted adjusted earnings per share of $0.77 for Q4, surpassing the analyst consensus of $0.64. Revenue came in at $350.2 million, above estimates of $322.98 million and up 15.6% YoY.
For the full fiscal year 2024, Blue Bird achieved record results with revenue of $1.35 billion, up 19% YoY, and adjusted EBITDA of $182.9 million, more than double the previous year's figure.
"I am incredibly proud of our team's outstanding achievement in delivering a record profit in fiscal 2024, more than double last year's then-record result," said Phil Horlock, President & CEO of Blue Bird Corporation.
The company's fiscal 2025 revenue guidance of $1.4-1.5 billion was in line with the $1.456 billion analyst consensus.
Blue Bird noted continued strong demand, with a 16% increase in orders over last year and a backlog of more than 4,800 units. The company delivered over 700 electric-powered buses in fiscal 2024, nearly 30% more than the previous year.
Management raised its long-term profit outlook, targeting an adjusted EBITDA margin of over 15% on revenue of about $2 billion.
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