Blue Bird Corporation (BLBD) Q4 2025 Earnings Call Transcript
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Nov 24 2025
0mins
Should l Buy BLBD?
Source: SeekingAlpha
Adjusted EBITDA $221 million for the year, representing 15% of revenue. This is $38 million better compared to last year's record year, driven by higher volumes, improved pricing, and operational efficiencies.
Revenue $1.48 billion for the year, a record year and $133 million ahead of last year, driven by increased bus prices and higher EV product mix.
Electric Vehicle (EV) Sales 901 units sold, representing 9.6% of total volume. This is an increase of 197 units or 28% year-over-year, driven by stable EV demand and EPA funding.
Free Cash Flow $153 million for the year, a $10 million increase versus the prior year, driven by strong operating margins and working capital improvements.
Gross Margin 20.5% for the year, up 1.5 percentage points from last year, due to sustained operational performance and pricing overtaking inflationary costs, including tariff effects.
Average Bus Revenue Per Unit $146,000 per unit, an increase of $8,000 year-over-year, driven by pricing actions and improved EV product mix.
Backlog Ended the year at 3,100 units, down due to industry volatility and seasonal factors. However, it increased to nearly 4,000 units post-year-end, including 850 EVs, driven by pricing stability strategies.
Parts Revenue $103 million for the year, flat compared to the prior year, supported by strong demand due to an aging fleet.
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Analyst Views on BLBD
Wall Street analysts forecast BLBD stock price to rise
7 Analyst Rating
6 Buy
1 Hold
0 Sell
Strong Buy
Current: 53.420
Low
49.00
Averages
65.71
High
78.00
Current: 53.420
Low
49.00
Averages
65.71
High
78.00
About BLBD
Blue Bird Corporation is an independent designer and manufacturer of school buses. The Company is engaged in designing, engineering, and manufacturing low- and zero-emission school buses with more than 20,000 propane, natural gas, and electric-powered buses. The Bus segment includes the manufacture and assembly of buses to be sold to a variety of customers across the United States, Canada, and in certain limited international markets. The Parts segment consists primarily of the purchase of parts from third parties to be sold to dealers within its network and certain large fleet customers. It designs, engineers, manufactures, and sells three types of buses: Type C school buses, Type D school buses, and specialty buses. Each of its Type C and Type D buses is manufactured and assembled on its own dedicated purpose-built chassis in Fort Valley, Georgia. Its network of dealers and authorized repair centers operate over 200 locations to support the fleet across the United States and Canada.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
Blue Bird Acquires Full Ownership of Micro Bird Joint Venture
- Acquisition Overview: Blue Bird has agreed to purchase Girardin Group's 50% stake in the Micro Bird joint venture for approximately $200 million, with 30% paid in cash and 70% in stock, expected to close in the first half of 2026 pending regulatory approvals.
- Joint Venture Background: Established in 2009, Micro Bird is a 50/50 joint venture between Blue Bird and Girardin, specializing in the design and manufacture of Type A school buses and commercial shuttle buses with a seating capacity of 9 to 36 passengers, employing around 960 people across Drummondville, Quebec, and Plattsburgh, New York.
- Business Integration Benefits: This acquisition allows Blue Bird to consolidate its North American operations, unify its brand and team, thereby unlocking additional value for customers and shareholders while enhancing market competitiveness.
- Positive Market Reaction: Following the announcement, Blue Bird's stock rose 2.9% in pre-market trading to $59.31 per share, indicating market optimism regarding the company's future growth prospects.
See More
Blue Bird Corporation Exceeds Q1 2026 Earnings Expectations
- Strong Performance: Blue Bird reported $333 million in revenue for Q1, a 6% year-over-year increase, with adjusted EBITDA reaching $50 million and a record gross margin of 21.4%, showcasing the company's success in pricing and efficiency improvements.
- Surge in Orders: The company experienced a 45% year-over-year increase in order intake for Q1, bringing the backlog to 3,400 units, reflecting robust market demand for its products, particularly in the alternative power and electric vehicle segments.
- Optimistic Outlook: Blue Bird maintains its revenue guidance for fiscal 2026 at $1.45 billion to $1.55 billion and raised its adjusted EBITDA guidance to $225 million, indicating management's confidence in future performance.
- Share Buyback Program: The company repurchased $15 million in shares during the quarter and initiated a new $100 million buyback program, aimed at enhancing shareholder value and optimizing its capital structure.
See More
Blue Bird Corp. Exceeds Q1 Earnings Expectations
- Earnings Beat: Blue Bird Corp. (BLBD) reported adjusted earnings of $1.00 per share for Q1, surpassing analysts' expectations of $0.80, indicating strong profitability performance.
- Revenue Growth: The company achieved a 6.1% year-over-year revenue increase to $333.1 million, exceeding the consensus estimate of $325.7 million, reflecting successful pricing strategies and product mix.
- Electric Bus Sales: In the quarter, Blue Bird sold 2,135 buses, including 121 electric-powered units, demonstrating the company's ongoing growth potential in the low-emission and electric bus market.
- Optimistic Outlook: Following a strong start, Blue Bird raised its fiscal 2026 adjusted EBITDA guidance to $225 million, reaffirming expectations for net revenue of approximately $1.5 billion, showcasing confidence in future growth.
See More
Blue Bird (BLBD) Q1 2026 Earnings Call Transcript
See More
Blue Bird Corporation Reaffirms Positive 2026 Financial Outlook
- Earnings Beat: Blue Bird Corporation reported a Q1 non-GAAP EPS of $1.00, exceeding expectations by $0.20, which reflects the company's strong profitability and boosts investor confidence.
- Revenue Growth: The company achieved Q1 revenue of $333.1 million, a 6.1% year-over-year increase, surpassing market expectations by $7.36 million, indicating sustained demand and leadership in the alternative power sector.
- 2026 Guidance Reaffirmed: Blue Bird reaffirmed its 2026 net revenue target at approximately $1.5 billion, slightly below the consensus of $1.52 billion, while raising its adjusted EBITDA guidance to $225 million, showcasing confidence in future profitability.
- Long-Term Growth Outlook: The company anticipates achieving an adjusted EBITDA margin of over 16% on a revenue target of $2 billion, indicating that Blue Bird's strategic focus on electric vehicle and chassis expansion will drive long-term growth.
See More
Blue Bird Corporation to Announce Q1 Earnings on February 4th
- Earnings Announcement: Blue Bird Corporation (BLBD) is set to announce its Q1 2023 earnings on February 4th after market close, with consensus EPS estimate at $0.80, reflecting a 13% year-over-year decline, while revenue is projected at $325.74 million, indicating a 3.7% year-over-year increase.
- Historical Performance: Over the past two years, Blue Bird has consistently beaten EPS and revenue estimates 100% of the time, showcasing its strong profitability and adaptability in the market.
- Estimate Revision Trends: In the last three months, EPS estimates have seen one upward revision and two downward adjustments, while revenue estimates experienced two upward and two downward revisions, indicating mixed market sentiment regarding the company's future performance.
- Long-Term Growth Outlook: Blue Bird maintains guidance for $1.5 billion in revenue and a 14.7% EBITDA margin by 2026, while signaling robust expansion in electric vehicles and chassis, underscoring its leadership position in the alternative power sector.
See More
Blue Bird Acquires Full Ownership of Micro Bird Joint Venture
- Acquisition Overview: Blue Bird has agreed to purchase Girardin Group's 50% stake in the Micro Bird joint venture for approximately $200 million, with 30% paid in cash and 70% in stock, expected to close in the first half of 2026 pending regulatory approvals.
- Joint Venture Background: Established in 2009, Micro Bird is a 50/50 joint venture between Blue Bird and Girardin, specializing in the design and manufacture of Type A school buses and commercial shuttle buses with a seating capacity of 9 to 36 passengers, employing around 960 people across Drummondville, Quebec, and Plattsburgh, New York.
- Business Integration Benefits: This acquisition allows Blue Bird to consolidate its North American operations, unify its brand and team, thereby unlocking additional value for customers and shareholders while enhancing market competitiveness.
- Positive Market Reaction: Following the announcement, Blue Bird's stock rose 2.9% in pre-market trading to $59.31 per share, indicating market optimism regarding the company's future growth prospects.
See More
Blue Bird Corporation Exceeds Q1 2026 Earnings Expectations
- Strong Performance: Blue Bird reported $333 million in revenue for Q1, a 6% year-over-year increase, with adjusted EBITDA reaching $50 million and a record gross margin of 21.4%, showcasing the company's success in pricing and efficiency improvements.
- Surge in Orders: The company experienced a 45% year-over-year increase in order intake for Q1, bringing the backlog to 3,400 units, reflecting robust market demand for its products, particularly in the alternative power and electric vehicle segments.
- Optimistic Outlook: Blue Bird maintains its revenue guidance for fiscal 2026 at $1.45 billion to $1.55 billion and raised its adjusted EBITDA guidance to $225 million, indicating management's confidence in future performance.
- Share Buyback Program: The company repurchased $15 million in shares during the quarter and initiated a new $100 million buyback program, aimed at enhancing shareholder value and optimizing its capital structure.
See More
Blue Bird Corp. Exceeds Q1 Earnings Expectations
- Earnings Beat: Blue Bird Corp. (BLBD) reported adjusted earnings of $1.00 per share for Q1, surpassing analysts' expectations of $0.80, indicating strong profitability performance.
- Revenue Growth: The company achieved a 6.1% year-over-year revenue increase to $333.1 million, exceeding the consensus estimate of $325.7 million, reflecting successful pricing strategies and product mix.
- Electric Bus Sales: In the quarter, Blue Bird sold 2,135 buses, including 121 electric-powered units, demonstrating the company's ongoing growth potential in the low-emission and electric bus market.
- Optimistic Outlook: Following a strong start, Blue Bird raised its fiscal 2026 adjusted EBITDA guidance to $225 million, reaffirming expectations for net revenue of approximately $1.5 billion, showcasing confidence in future growth.
See More
Blue Bird (BLBD) Q1 2026 Earnings Call Transcript
See More
Blue Bird Corporation Reaffirms Positive 2026 Financial Outlook
- Earnings Beat: Blue Bird Corporation reported a Q1 non-GAAP EPS of $1.00, exceeding expectations by $0.20, which reflects the company's strong profitability and boosts investor confidence.
- Revenue Growth: The company achieved Q1 revenue of $333.1 million, a 6.1% year-over-year increase, surpassing market expectations by $7.36 million, indicating sustained demand and leadership in the alternative power sector.
- 2026 Guidance Reaffirmed: Blue Bird reaffirmed its 2026 net revenue target at approximately $1.5 billion, slightly below the consensus of $1.52 billion, while raising its adjusted EBITDA guidance to $225 million, showcasing confidence in future profitability.
- Long-Term Growth Outlook: The company anticipates achieving an adjusted EBITDA margin of over 16% on a revenue target of $2 billion, indicating that Blue Bird's strategic focus on electric vehicle and chassis expansion will drive long-term growth.
See More
Blue Bird Corporation to Announce Q1 Earnings on February 4th
- Earnings Announcement: Blue Bird Corporation (BLBD) is set to announce its Q1 2023 earnings on February 4th after market close, with consensus EPS estimate at $0.80, reflecting a 13% year-over-year decline, while revenue is projected at $325.74 million, indicating a 3.7% year-over-year increase.
- Historical Performance: Over the past two years, Blue Bird has consistently beaten EPS and revenue estimates 100% of the time, showcasing its strong profitability and adaptability in the market.
- Estimate Revision Trends: In the last three months, EPS estimates have seen one upward revision and two downward adjustments, while revenue estimates experienced two upward and two downward revisions, indicating mixed market sentiment regarding the company's future performance.
- Long-Term Growth Outlook: Blue Bird maintains guidance for $1.5 billion in revenue and a 14.7% EBITDA margin by 2026, while signaling robust expansion in electric vehicles and chassis, underscoring its leadership position in the alternative power sector.
See More
