Q4 2024 Blue Bird Corp Earnings Call Transcript
Key Points
- Blue Bird Corp (BLBD) achieved record financial results in fiscal 2024, more than doubling its prior record profit from 2023.
- The company reported an impressive adjusted EBITDA margin of 13.6%, a 6 percentage point increase from the previous year.
- Market demand for school buses remains strong, with a backlog of over 4,800 units, a 6% increase from the previous year.
- Blue Bird Corp (BLBD) has successfully managed supply chain issues, with expectations for further easing in 2025.
- The company has produced and delivered over 700 electric buses, nearly 30% more than the previous year, strengthening its leadership in alternative-powered vehicles.
- Despite improvements, supply chain issues remain a concern, with some constraints on chassis components.
- Material costs and supplier inflation pressures continue to be present, impacting overall costs.
- The company expects relatively low EV production and sales in the first half of fiscal 2025 due to infrastructure planning delays.
- There is a cautious stance on fiscal 2025 guidance due to ongoing supply chain fragility.
- Blue Bird Corp (BLBD) faces challenges in maintaining momentum with a modest 3% increase in volume guidance for fiscal 2025.
Hello, everyone. Thank you for joining Blue Bird's fiscal 2024 fourth-quarter and full-year earnings conference call. My name is Sierra, and I'll be your moderator for today. (Operator Instructions) I'd now like to pass the conference over to our host, Mark Benfield, Head of Investor Relations with Blue Bird. Please proceed.
Thank you, and welcome to Blue Bird's fiscal 2024 fourth-quarter and full-year earnings conference call. The audio for our call is webcast live on blue-bird.com under the Investor Relations tab. You can access the supporting slides on our website by clicking on the Presentations box on the IR landing page.
Our comments today include forward-looking statements that are subject to risks that could cause actual results to be materially different. Those risks include, among others, matters we have noted on the following two slides and in our filings to SEC. Blue Bird disclaims any obligation to update the information in this call.
This afternoon, you will hear from Blue Bird
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