Blue Bird 'applauds' EPA, says continuing to ramp electric school bus production » 13:4209/3009/30/22
Blue Bird "lauds" yesterday's announcement by the U.S. Environmental Protection Agency to double the funding awarded for clean school buses to nearly $1 billion this year. "The rebate program accelerates the replacement of diesel-powered school buses with zero- and low-emission school buses. The funds will also assist school districts and other eligible participants to establish the required clean energy infrastructure," the company stated. Matthew Stevenson, president and CEO, Blue Bird Corporation, added: "The tremendous response to the EPA's Clean School Bus Rebate Program clearly demonstrates that school districts across all 50 U.S. states are ready to transition to electric, zero-emission school buses, thereby, putting student and community health first. Blue Bird is poised to meet increasing demand and continues to ramp up electric school bus production to 20 vehicles a day by 2023."
|Over a month ago|
Blue Bird 'applauds' signing of Inflation Reduction Act » 16:4708/1608/16/22
Blue Bird said it…
Blue Bird said it applauds the Inflation Reduction Act of 2022 signed into law Tuesday by U.S. President Joe Biden. The Inflation Reduction Act authorizes a $369B investment in energy security and combating climate change - the largest investment of its kind in U.S. history. The legislative action is projected to reduce harmful carbon emissions by roughly 40% by 2030, Blue Bird said. "The Inflation Reduction Act demonstrates America's leadership in advancing clean transportation solutions to help fight climate change," said Matthew Stevenson, president and CEO, Blue Bird Corporation. "As the leader in electric and low-emission school buses, Blue Bird welcomes all initiatives that foster a clean energy future and advance student and community health."
Blue Bird reports Q3 adjusted EPS (9c), consensus (5c) » 16:0108/1008/10/22
Reports Q3 revenue…
Reports Q3 revenue $206.1M, consensus $213.03M. "The Blue Bird team continued to execute a rigorous plan to improve operations, reduce fixed costs, and recover economics through pricing. All new bus orders reflected a 25% price increase year over year. In addition, we partnered with our valued dealer network to recover substantial pricing on backlog units. Our previously forecasted plan is starting to pay off in 2H 2022, despite continued inflationary pressures and global supply chain disruptions," said Matthew Stevenson, President and CEO of Blue Bird Corporation. "Demand for Blue Bird's best-in-class school buses remains strong and we have expanded our leadership position in zero- and low-emission school buses with firm orders of over 380 electric school buses. We expect demand for our EV school buses to further increase as the EPA's 2022 Clean School Bus Rebate Program will accelerate adoption of zero-emission student transportation across the United States."
Blue Bird launches Blue Bird Energy Services business » 11:0207/2107/21/22
Blue Bird Corporation…
Blue Bird Corporation launched its Blue Bird Energy Services business to further accelerate the electrification of the student transportation industry by providing turnkey charging infrastructure solutions for electric school bus fleets. Through its Blue Bird Energy Services business, the company provides a full suite of products and services to establish a fit-for-purpose charging infrastructure for electric vehicle school buses, including site engineering, permitting, construction, customizable hardware and software, warranties, and maintenance.
|Over a quarter ago|
Blue Bird initiated with a Buy at DA Davidson » 16:5106/2806/28/22
DA Davidson analyst…
DA Davidson analyst Michael Shlisky initiated coverage of Blue Bird with a Buy rating and $13 price target. The company does not appear to be in danger of being disrupted by start-up EV players given its early pivot and established dealer and parts/service presence, the analyst tells investors in a research note. Blue Bird is also well-positioned for any coming recession, Shlisky adds.
Blue Bird announces price increases on all model school buses » 15:1505/1605/16/22
Blue Bird has implemented…
Blue Bird has implemented a price increase on all model school buses to offset record inflationary pressures and substantially higher costs for raw materials, transportation, and labor. The company also continues to face supply chain disruptions exacerbated by Russia's war in Ukraine and the lingering COVID-19 pandemic. Blue Bird's 10% price increase took effect on May 10.
Blue Bird reports Q2 EPS (38c) vs. (36c) last year » 16:0505/1205/12/22
Reports Q2 revenue…
Reports Q2 revenue $207.7M vs. $43.3M last year. The company states: "Blue Bird faced a challenging second quarter marked by supply chain disruptions and inflationary pressures exacerbated by Russia's war in Ukraine and COVID lockdowns in China. The continued rise in raw material, freight, and labor costs, as well shortages on a number of key components drove increased costs to manufacture the units in the quarter, the majority of which were ordered nearly a year ago and were delayed due to supply chain constraints. Blue Bird consciously chose to honor pricing on those units in the quarter to preserve long-standing franchised dealer and customer relationships. Blue Bird continued to implement its multi-source supplier strategy for a number of critical components successfully addressing supply chain issues that had previously impacted production. However, new supply chain issues emerged amid geo-political global upheaval. Blue Bird again brought its pricing in line with expected cost increases. The Company has implemented price increases totaling more than 25% over the past 10 months and expects that pricing to catch up with costs in the latter half of the fiscal year."
Blue Bird secures order for eight electric buses from California school district » 11:0404/1204/12/22
Blue Bird Corporation has…
Blue Bird Corporation has received an order for eight electric school buses from Orange Unified School District in California. Due to the purchase, the school district will more than double the size of its current Blue Bird electric school bus fleet. Orange Unified School District started transitioning to electric school buses in 2021 by purchasing seven Blue Bird All American Type D electric school buses. Today, the school district increasingly relies on Blue Bird electric vehicles to meet its transportation needs. The district anticipates delivery of the eight buses in the fourth quarter of 2022.
Blue Bird's Modesto EV school bus order affirms momentum, says Roth Capital » 13:2603/3003/30/22
Roth Capital analyst…
Roth Capital analyst Craig Irwin tells investors in a research note that Blue Bird's EV school bus order from Modesto City Schools in California is the largest single eBus order in company history and that it affirms the company's momentum even before the federal funding becomes available. Irwin, who made no change to his Buy rating and $29 price target, looks for continued success in the core California market, adding that once the $5B in federal money begins to flow, he expects market acceleration.
Blue Bird receives order for 30 electric school buses from Modesto City Schools » 11:0203/2903/29/22
Blue Bird Corporation has…
Blue Bird Corporation has received the single largest order of electric school buses from a school district in its history. Modesto City Schools in California purchased 30 zero-emission school buses. The order enables the school district to rapidly convert nearly 50% of its diesel-powered bus fleet to clean energy.