Q2 2025 Blue Bird Corp Earnings Call Transcript
Key Points
- Blue Bird Corp (BLBD) achieved record quarterly revenue and profit in Q2 2025, surpassing guidance and maintaining full-year projections.
- The company reported a strong backlog of nearly 5,000 units, ensuring operational stability and healthy margins.
- Blue Bird Corp (BLBD) continues to lead in the alternative power vehicle segment, maintaining a competitive edge in the market.
- The company is reinvesting in its operations, focusing on lean production systems and developing new products to drive future growth.
- Adjusted EBITDA reached a record $49 million, reflecting a 14% margin, which is a significant improvement over the previous year.
- The company faces challenges from new tariffs, particularly a 145% tariff on components from China, impacting EV production costs.
- Adjusted free cash flow decreased by $35 million compared to the previous year, primarily due to increased tax expenses.
- There is uncertainty regarding the timing and funding of future rounds of the EPA Clean School Bus Program.
- The tariff situation has led to a temporary pause in reducing EV bus prices, affecting the total cost of ownership improvements.
- Blue Bird Corp (BLBD) may need to prioritize ICE buses over EVs in the near term due to tariff-related cost increases.
Good morning or good afternoon. Welcome to the Blue Bird fiscal 2025 second quarter earnings conference call. My name is Adam, and I will be your operator for today. (Operator Instructions)
I'll now hand the floor to Mark Benfield to begin. Mr. Mark, please go ahead when you're ready.
Thank you, and welcome to Blue Bird's fiscal 2025 second quarter 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 with the SEC. Blue Bird disclaims any obligation to update the information in this call.
This afternoon, you will hear from Blue Bird's President and CEO, John Wyskiel; and
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