What is Blue Bird's gross profit margin?

What guidance did Blue Bird's management provide for the next earnings period?

What is the revenue and EPS growth rate for Blue Bird year over year?

What factors drove the changes in Blue Bird's revenue and profit?

What were the key takeaways from Blue Bird’s earnings call?

What were the key takeaways from Blue Bird's earnings call?

Did Blue Bird beat or miss consensus estimates last quarter?

What is the market's earnings forecast for Blue Bird next quarter?

- **Q1 Beat with Strong Growth**: Revenue $333M (+6% YoY), EBITDA $50M (15% margin), 45% order intake surge.
- **EV Dominance**: 855 EVs in backlog, 48% Alt Power mix, 800+ EV units guided for FY26.
- **Financial Strength**: $385M liquidity, $31M free cash flow, $100M buyback program underway.
- **Strategic Expansion**: New plant in 2028, automation initiatives, commercial chassis launch in FY27.

**【CEO Summary Section】**
- Blue Bird exceeded Q1 2026 guidance across all metrics, with revenue of $333 million and adjusted EBITDA of $50 million (15% margin). Order intake rose 45% year-over-year, pushing backlog to 3,400 units.
- EV backlog extended into 2027, with 855 units booked. Alt Power segment (EV, propane) represented 48% of unit sales, maintaining strong margins despite lower mix.
- Manufacturing strategy includes Industry 3.0 automation, targeting cost improvements and a new assembly plant in 2028. Tariffs remain margin-neutral through pricing actions.

**【CFO Financial Commentary】**
- Q1 2026 revenue: $333 million (+6% YoY), driven by $9,000/unit price increase (tariffs and cost pass-through). Adjusted EBITDA: $50 million (+$4 million YoY), gross margin: 21.4% (up 220bps YoY).
- Free cash flow: $31 million (vs. $22 million YoY). Liquidity: $385 million (up $106 million YoY). Shares buyback: $15 million executed, $95 million remaining under $100 million program.
- Updated FY26 guidance: Revenue $1.45-$1.55 billion, adjusted EBITDA $215-$230 million (vs. prior $200-$220 million). EV units: 800 (up from 750).

Blue Bird Corporation (BLBD) Q1 2026 Earnings Call Transcript

- **Record Financial Performance**: 2025 revenue ($1.48B) and EBITDA ($221M/15%) set new highs, driven by EV growth (901 units) and disciplined pricing.
- **EV Momentum**: 2026 guidance of 750-1,000 EVs reflects strong state funding and EPA program traction, despite federal uncertainty.
- **Profitability Resilience**: 15%+ EBITDA margin maintained through tariff mitigation, with Q4 gross margin at 21%.
- **New Growth Frontiers**: Commercial chassis project targets 1,000+ units by 2029, complementing core school bus business.
- **Liquidity Strength**: $229M cash and $371M liquidity support expansion plans, with $153M free cash flow in 2025.

**【CEO Summary Section】**
- Blue Bird achieved record fiscal 2025 results, including $1.48 billion in revenue and $221 million in adjusted EBITDA (15% margin), surpassing prior year records.
- Despite tariff-related pricing uncertainty, the company maintained disciplined pricing strategies, with bus selling prices up $8,300 YoY.
- EV sales reached 901 units (9.6% of total volume), supported by EPA funding and state programs. Backlog increased to nearly 4,000 units post-Q4, including 850 EVs.
- Long-term manufacturing investments in automation and new factory development aim to enhance competitiveness and reduce costs.
- Management emphasized navigating tariff volatility to achieve margin-neutral outcomes, with pricing stability extended through June 2026.

**【CFO Financial Commentary】**
- Q4 2025: $409 million revenue (17% YoY growth), $68 million adjusted EBITDA (16.6% margin), and $60 million free cash flow.
- Full year 2025: $1.48 billion revenue, $221 million adjusted EBITDA (15% margin), and $153 million free cash flow (70% of EBITDA).
- Gross margin improved to 20.5% YoY, driven by pricing, operational efficiency, and tariff mitigation.
- Fiscal 2026 guidance: $1.45-1.55 billion revenue, $210-230 million adjusted EBITDA (14.5%-15% margin), with EV sales targeting 750 units (potential upside to 1,000).
- Free cash flow expected at $10-30 million, constrained by $100 million capex for new plant expansion.

**【Q&A Key Highlights】**
- **EV Demand & State Programs**: CFO confirmed 2026 EV guidance of 750 units (850+ backlog) is achievable without relying on EPA Rounds 4-5. State subsidies and mandates are key drivers, with New Jersey's $37 million program illustrative of growing state-level support.
- **Commercial Chassis Progress**: 100 units expected in 2026, with prototypes in testing phase and positive customer feedback. Long-term target: 1,000+ units annually by 2029.
- **Tariff Management**: Pricing stability extended to June 2026; CFO noted 15%+ EBITDA margin achievable despite tariff risks.
- **Competitive Dynamics**: No significant share shifts observed; Blue Bird maintains 56% alt-power market share vs. <1% for peers.
- **Backlog Sustainability**: Q1 2026 order intake aligns with historical trends, suggesting normalization post-tariff volatility.


Blue Bird Corporation (BLBD) Q4 2025 Earnings Call Transcript

- **Record Q3 Results**: $398M revenue (15% YoY), $58M EBITDA (14.7% margin), beating guidance.
- **Tariff-Neutral Pricing**: 2-3% annual price increases offset tariffs, maintaining 14.7% margin despite industry order drop.
- **EV Growth Momentum**: 271 Q3 EV sales (33% YoY), 500+ EVs in backlog, targeting 750 FY25 units.
- **Innovation Investment**: $100M share buyback, $150M plant automation, and new commercial chassis production in 2026.
- **Long-Term Vision**: 15%+ margin by 2030 via EV scale, chassis expansion, and Micro Bird shuttle buses.

**【CEO Summary Section】**
- **Record Financial Performance**: Q3 revenue reached $398 million (15% YoY growth), with adjusted EBITDA of $58 million (14.7% margin), beating prior guidance.
- **Tariff Impact and Pricing Strategy**: Tariffs caused industry-wide order decline, but Blue Bird maintained pricing discipline, passing 2-3% annualized increases to offset costs. Backlog stabilized at 3,900 units, within the 'sweet spot' range.
- **Manufacturing Innovation**: Launched automation initiatives in new Fort Valley plant, including production automation and MESC grant-funded upgrades, targeting 1-2% margin expansion over 2 years.
- **EV Growth Despite Softness**: Sold 271 EVs (33% YoY growth), with 500+ EVs in backlog. EPA Clean School Bus funding rounds 2-3 flowing, rounds 4-5 still in play.
- **New Market Expansion**: Micro Bird joint venture plant in NY doubled small bus capacity, targeting Buy America shuttle market. Commercial chassis production set to begin in 2026.

**【CFO Financial Commentary】**
- **Strong Cash Flow**: Q3 free cash flow of $52 million, up $56 million YoY, driven by profitability and working capital improvements. Year-to-date free cash flow reached $153 million.
- **Balance Sheet Strength**: Ended Q3 with $173 million cash and $315 million liquidity. Announced $100 million share repurchase program (2-year term), adding to existing $60 million program.
- **Guidance Update**: Raised FY25 EBITDA to $210 million (14.5% margin) from $200 million, with FY26 outlook of $220 million (14.5%) and long-term target of $240 million (15%+ margin).
- **Capital Allocation**: $475 million in 2-year cash sources allocated to: $150M for plant expansion/automation, $50M R&D, $50M M&A, and $100M share buybacks.

**【Q&A Highlights】**
- **Backlog Seasonality**: Q3 order decline matched industry (-1%), but Q4 EV sales of 200 units suggest recovery. School districts awaiting tariff stabilization before ordering.
- **Operational Efficiency**: Lean manufacturing improvements offset 2% YoY wage increases. Gross margins stable across EV/non-EV products at ~21.6%.
- **EV Visibility**: 750 FY25 EV sales target (28% YoY growth), with 1,200+ EVs in backlog. State subsidies and federal funding rounds 4-5 could drive future growth.
- **Pricing Strategy**: 2% annualized price increases + 1-1.5% tariff adjustments. Customers understand tariffs as external cost, not Blue Bird's markup.
- **Future Growth**: Commercial chassis (100 units FY26) and Micro Bird (Buy America shuttle buses) to diversify revenue streams. Long-term target: $1.8-2 billion revenue by 2030.

Blue Bird Corporation (BLBD) Q3 2025 Earnings Call Transcript

- **Q2 Record Results**: $359M revenue (+3.7% YoY), $49M EBITDA (14% margin), 5,000-unit backlog.\n- **EV Tariff Mitigation**: 2% price increase, Q4 EV builds delayed to 2026.\n- **Propane Dominance**: 57% unit mix, 20,000+ buses in operation, 10% TCO advantage.\n- **New Product Launch**: Propane/EV chassis targeting 2026, 1,000+ units/year.\n- **Balance Sheet Strength**: $131M cash, $274M liquidity, $40M shares repurchased.\n- **Guidance Confidence**: Full year $200M EBITDA maintained, despite Q4 EV range narrowed to 800-1,000 units.\n

**【CEO Summary Section】**
- **Record Q2 Performance**: Achieved $359 million revenue and $49 million adjusted EBITDA, up 15% and 6.5% YoY, driven by strong ICE and EV demand.\n- **Backlog Strength**: 4,900 units (6+ months of production) and $770 million in backlog, with 708 EVs representing $233 million.\n- **Tariff Countermeasures**: Implemented 2% price increase on all units and delayed Q4 EV builds to mitigate 145% China tariffs.\n- **New Product Pipeline**: Debuted propane/EV commercial chassis with 55° wheel cut and 8" front axle clearance, targeting 2026 launch.\n- **DOE Funding Progress**: $80 million MESC contract for Fort Valley plant expansion, adding 400 jobs.\n- **Guidance Maintained**: Full year $200 million EBITDA and 1,000 EV target, despite Q4 EV range narrowed to 800-1,000 units.\n
**【CFO Financial Commentary】**\n- **Q2 Financial Highlights**:\n  - Revenue: $359M (+3.7% YoY)\n  - Adjusted EBITDA: $49M (14% margin, +50bps YoY)\n  - Free Cash Flow: $19M\n  - EV Sales: 265 units (+26% YoY)\n  - ICE Mix: 90% of units sold\n- **Tariff Impact**:\n  - China EV kit tariffs add >10% cost, requiring 2% price increase on all units.\n  - Steel hedging covers 2026 backlog, but 25% tariffs on steel/aluminum raise input costs.\n  - Q4 EV production delayed to 2026 if tariffs persist.\n- **Balance Sheet**:\n  - Cash: $131M\n  - Debt: Reduced by $5M YoY\n  - Liquidity: $274M\n- **Share Repurchases**: $40M completed, $20M remaining under $60M program.\n
**【Q&A Key Themes】**\n- **Tariff Strategy**:\n  - Substituting Q4 EV builds with ICE/propane units to maintain margin stability.\n  - Dealers supportive of 2% price increase, no material win rate impact.\n- **EV Pricing**:\n  - $25K EV price reduction paused due to tariffs; resuming when tariffs resolve.\n  - ICE/propane win rate unaffected by EV delays.\n- **CSB Program**:\n  - Rounds 2/3 funding flowing as expected; Round 4 optimism due to legal obligations.\n  - State subsidies remain strong, offsetting federal uncertainty.\n- **Propane Differentiation**:\n  - 20,000+ propane buses in operation, 57% unit mix in Q2.\n  - Exclusive propane engine partnership with Ford/Roush provides 10% TCO advantage.\n- **Commercial Chassis**:\n  - Propane variant launch in 2026, targeting 1,000+ units annually.\n  - EV chassis development continues, but delayed by China tariffs.\n- **Free Cash Flow**:\n  - Guided $60-80M for FY25, 50% of EBITDA, with $30M capex for Fort Valley plant.\n

Blue Bird Corporation (BLBD) Q2 2025 Earnings Call Transcript

- **Q1 EBITDA Record**: $46M (15% margin) with 94% ICE sales, defying low-volume quarter challenges.
- **EV Growth Engine**: 1,000 FY25 EV target (82% YoY backlog growth), 75% orders funded post-federal funding pause reversal.
- **Tariff Mitigation**: 5% price hike on non-EV buses if tariffs imposed; limited China tariff exposure.
- **Leadership Transition**: Veteran exec John Wyskiel set to drive $2B+ revenue and 15%+ margin by 2028.

**【CEO Key Highlights】**
- **Record Q1 Performance**: Achieved near-record adjusted EBITDA of $46 million (15% margin) despite the lowest volume quarter, with 94% of sales from ICE buses.
- **EV Momentum**: EV backlog reached 765 units (82% YoY growth), with 1,000 EVs forecasted for FY25. 75% of EV orders are fully funded, and federal funding pause has been lifted.
- **Leadership Transition**: CEO Phil Horlock will retire in February, succeeded by John Wyskiel, a seasoned automotive executive with prior Blue Bird experience.

**【CFO Financial Breakdown】**
- **Revenue & Profitability**: Q1 revenue $314M (flat YoY), adjusted EBITDA $46M (down $2M YoY due to 36% EV mix decline). Gross margin 19.2%, driven by pricing and cost control.
- **Cash Flow**: Adjusted free cash flow $22M (up $23M YoY), liquidity $280M (record high). Share buybacks $10M in Q1, $40M remaining under $60M program.
- **FY25 Guidance**: Revenue $1.4B-$1.5B, EBITDA $185M-$215M (13.5%-14.5% margin). EV sales target 1,000 units (+42% YoY), with 17% of backlog in EVs.

**【Q&A Key Takeaways】**
- **Tariff Strategy**: 5% price hike on non-EV buses if 25% tariffs on Canada/Mexico imports materialize. No direct impact from 10% China tariffs, limited component exposure.
- **EV Funding Risk Mitigation**: 75% of EV orders fully funded; prioritizing production of funded buses, pursuing state/local funding for remaining 250 units.
- **Long-Term Growth**: Commercial chassis expansion and Micro Bird JV doubling capacity to target $2B revenue and 15%+ EBITDA by 2028.


Actual											0.1	0.16	0.49	0	0.05	0.19	0.07	-0.07	-0.31	-0.09	-0.66	-0.3	0.27	0.44	0.66	0.91	0.89	0.91	0.77	0.92	0.96	1.19	1.32	1
Forecast											0.24	0.15	0.35	0	0.08	0.39	0.185	-0.285	-0.1	-0.05	0.04	-0.3233	0.0833	0.2467	0.4812	0.33	0.4714	0.5257	0.6482	0.7929	0.9471	0.9871	1.0527	0.7923
Surprise	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	-58.33%	+6.67%	+40.00%	0.00%	-37.50%	-51.28%	-62.16%	+75.44%	-210.00%	-80.00%	-1750.00%	+7.21%	+224.13%	+78.35%	+37.16%	+175.76%	+88.80%	+73.10%	+18.79%	+16.03%	+1.36%	+20.56%	+25.39%	+26.21%

BLBD

BLBD fundamentals

BLBD Q1 2026 Earnings

Earnings Call

You can ask Aime

BLBD

BLBD fundamentals

BLBD Q1 2026 Earnings

Earnings Call

BLBD Earnings Call Summary for Q1/20264:30 PM on Feb 4, 2026

BLBD Earnings Call Summary for Q4/20254:30 PM on Nov 24, 2025

BLBD Earnings Call Summary for Q3/20254:30 PM on Aug 6, 2025

BLBD Earnings Call Summary for Q2/20254:30 PM on May 7, 2025

BLBD Earnings Call Summary for Q1/20254:30 PM on Feb 5, 2025

You can ask Aime