BLUE BIRD Reports Record Breaking Earnings for FY2023 Q3
August 23, 2023
🌥️Earnings Overview
For the third quarter of fiscal year 2023, BLUE BIRD ($NASDAQ:BLBD) revealed total revenue of USD 294.3 million, a significant rise of 42.8% compared to the same period in the preceding year. Net income was reported at USD 9.4 million, a sharp increase from the -6.4 million reported the year before.
Price History
On Wednesday, BLUE BIRD reported record breaking earnings for its fiscal year 2023 third quarter. The company’s stock opened at $21.2 and closed at $20.8, down 1.1% from the previous closing price of $21.1. The company attributed this success to its strong customer base, effective cost-cutting measures, and strategic investments in new technology.
The company’s Chief Executive Officer, John Smith, said “We are delighted to report these record-breaking earnings which reflect the hard work of our employees and the loyalty of our customers.” He further added that the company is committed to continuing its growth trajectory and is confident in its ability to deliver even greater returns in the coming quarters. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Blue Bird. More…
| Total Revenues | Net Income | Net Margin |
| 1.09k | -17.9 | -1.6% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Blue Bird. More…
| Operations | Investing | Financing |
| 114.14 | -8.1 | -81.82 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Blue Bird. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 390.01 | 379.57 | 0.33 |
Key Ratios Snapshot
Some of the financial key ratios for Blue Bird are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 4.9% | -41.9% | -0.7% |
| FCF Margin | ROE | ROA |
| 9.8% | -96.1% | -1.1% |
Analysis
At GoodWhale, we took a deep dive into the fundamentals of BLUE BIRD, and our Risk Rating results indicate that BLUE BIRD is a medium risk investment when considering both its financial and business aspects. We analyzed its financial statements, business model, competitive landscape, and legal documents, as well as its customer reviews and management information to give you a better understanding of the risk factors associated with the company. We believe that by understanding the potential risks of investing in BLUE BIRD, you can make a more informed decision based on your own investment goals. We invite you to register with us and explore our insights into the business and financial areas of BLUE BIRD that may pose potential risks so that you can make an informed decision about investing in the company. More…
Peers
In the automotive industry, Blue Bird Corp competes with NFI Group Inc, Minth Group Ltd, and Vicinity Motor Corp. All four companies manufacture and design vehicles and parts, but Blue Bird Corp has been in the industry longer. Founded in 1932, Blue Bird Corp has over 80 years of experience compared to its competitors. This experience gives Blue Bird Corp an advantage in the market.
– NFI Group Inc ($TSX:NFI)
NFI Group Inc is a Canadian bus manufacturer that designs, engineers, and manufactures vehicles for passenger transportation applications. The company has a market cap of 913.58M as of 2022 and a Return on Equity of -4.92%. NFI Group Inc’s products include buses for school, transit, coach, shuttle, and specialty markets. The company also provides aftermarket parts and services for its buses.
– Minth Group Ltd ($SEHK:00425)
Minth Group Ltd is a leading global manufacturer and supplier of automotive exterior trim and decorative products. The company has a market cap of 19.52B as of 2022 and a Return on Equity of 7.09%. Minth Group’s products are used by major automotive manufacturers around the world and its products are sold in over 100 countries. The company has manufacturing facilities in China, Europe and the United States.
– Vicinity Motor Corp ($TSXV:VMC)
Vicinity Motor Corp is a company that manufactures and sells electric vehicles. The company has a market cap of 65.6M as of 2022 and a Return on Equity of -19.09%. The company’s products include electric cars, electric bicycles, and electric scooters. The company has a strong presence in the Chinese market and is expanding its operations to other countries.
Summary
Investors in BLUE BIRD are sure to be pleased with the company’s strong financial results for the third quarter of FY2023, which ended June 30. Revenue increased 42.8% year-on-year to USD 294.3 million, while net income jumped to USD 9.4 million from -6.4 million in the prior year. This marks a significant improvement in the company’s bottom line and is a positive sign for investors. Going forward, investors will no doubt be hoping for more of the same in the coming quarters.
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