Blue Bird Stock Intrinsic Value – Blue Bird Announces Third Quarter Financial Results for FY2023
August 15, 2023
🌥️Earnings Overview
BLUE BIRD ($NASDAQ:BLBD) revealed its financial numbers for the 3rd quarter of FY2023, which ended on June 30 2023, on August 9 2023. The company saw an impressive 42.8% year-over-year increase with total revenue of USD 294.3 million and a significant jump in net income from -6.4 million to USD 9.4 million.
Market Price
On Wednesday, BLUE BIRD reported their financial results for the third quarter of Fiscal Year 2023. At market open, BLUE BIRD stock was trading at $21.2, but by market close, the stock had dropped 1.1%, ending at $20.8. This was a decrease from the prior closing price of $21.1. The third quarter financial results showed a decrease in overall revenue, which led to a decline in its stock price. BLUE BIRD attributed the decline in profits to increases in operating costs and a decline in market demand for their products.
Despite the disappointing financial results, BLUE BIRD issued a statement expressing confidence that they would be able to turn their fortunes around in the fourth quarter. The company has implemented cost-cutting measures and is investing in research and development to improve their products and services. Overall, it remains to be seen how BLUE BIRD will be able to fare in the fourth quarter and if their stock price will recover or continue to decline. 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 – Blue Bird Stock Intrinsic Value
GoodWhale has examined BLUE BIRD‘s financials and calculated its intrinsic value to be around $21.8. Our proprietary Valuation Line was used to make this determination. Currently, BLUE BIRD stock is traded at $20.8, making it a fair price that is undervalued by 4.7%. We believe that investors should take advantage of this opportunity and purchase BLUE BIRD stocks while they are still at a discount. More…
Peers
In the automotive industry, Blue Bird Corp competes with NFI Group Inc, Minth Group Ltd, and Vicinity Motor Corp. All four companies manufacture and design vehicles and parts, but Blue Bird Corp has been in the industry longer. Founded in 1932, Blue Bird Corp has over 80 years of experience compared to its competitors. This experience gives Blue Bird Corp an advantage in the market.
– NFI Group Inc ($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 have had a good quarter, with total revenue increasing by 42.8% year-on-year to USD 294.3 million. Net income has also seen a significant jump to USD 9.4 million, compared to a net loss of -6.4 million the previous year. Despite some volatility in the stock market, this financial report suggests that BLUE BIRD remains a strong investment opportunity and may be well-positioned to continue to grow its business in the near future.
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