Blue Bird Corporation (NASDAQ: BLBD) has reported its preliminary full-year, unaudited results for fiscal 2024. The company sold 9,000 buses in fiscal 2024, marking a 6% increase over the prior year. This figure is almost 500 units higher than the previous year, reflecting the top end of guidance.
The company achieved record net sales revenue of $1.35 billion in fiscal 2024, representing a substantial 19% increase compared to the prior year. Additionally, Blue Bird reported record electric vehicle (EV) sales of 704 buses, indicating a significant 29% increase over the previous year.
Blue Bird's strong performance is further highlighted by its new order intake, which resulted in a fiscal year-end total backlog of more than 4,800 units, worth approximately $735 million in revenue. This figure reflects a 10% increase from the previous year. The company's EV backlog also reached a record level of nearly 630 buses, valued at approximately $200 million.
Phil Horlock, President and CEO of Blue Bird, expressed satisfaction with the company's strong year-end performance, attributing it to the hard work of the team. He also mentioned that the company is looking forward to discussing its full-year 2024 results and fiscal 2025 outlook in the upcoming earnings call on November 25, 2024.
Blue Bird, which has been recognized as a technology leader and innovator of school buses since 1927, is a proven leader in low* and zero-emission school buses, with over 20,000 propane, natural gas, and electric-powered buses in operation today. The company's commitment to safety, reliability, and durability underscores its position as a trusted mode of student transportation.
Following these announcements, the company's shares moved 2.5%, and are now trading at a price of $42.2. For more information, read the company's full 8-K submission here.
