Blue Bird Corporation – Blue Bird School Bases

Blue Bird Corporation, the most important independent designer and manufacturer of school buses, declared its full fiscal year 2017 and fourth quarter results.

 

Results for the 4th quarter of 2017:

Net sales:

Total net sales were $312.7M for the fourth quarter of fiscal 2017, an increase of $26.3M, or 9.20%, from the prior year period.

The sales of the bus unit were 3,608.00 units for the quarter, in contrast to 3,308.00 units for the same period of the previous year.

 

Gross profit:

The fourth quarter gross profit of $39.5M represents a momentum of $0.8M from the fourth quarter of last year.

 

Income / Losses from continuing operations:

Income from continuing operations was $14.4 million for the fourth quarter of fiscal year 2017, an increase of $3.3 million in contrast to the similar period last year.

The increase was mainly driven by lower operating costs and interest, partially offset by higher tax expenses.

 

Adjusted income from continuing operations:

Adjusted income from continuing operations was $15.1 million, which represents an increase of $1.8 million, a contrast with the similar period last year.

 

Adjusted EBITDA:

Adjusted EBITDA was $25.10M, or 8.00% of net sales, for the fourth quarter of fiscal year 2017, which represents an increase of $ 0.8M compared to the fourth quarter of the previous year.

 

Results of the full year 2017:

Blue Bird School Buses
Blue Bird School Buses

Net sales:

Total net sales were $990.6M for the fiscal year ended September 30, 2017, an increase of $58.6M, or 6.30%, compared to the prior year.

This was mainly due to the higher sales of bus units, which were 701.00 units above the similar period of the previous year.

 

Gross profit:

The gross profit for the full year was $127.4M, a decrease of $2.0M compared to the previous year.

 

Income / Losses from Continuous Operations:

Income from continuing operations was $28.8 million for the fiscal year ended September 30, 2017, which was $21.5 million above the similar period of the previous year.

The increase was mainly driven by a $29.9M decrease in SG A costs, which was partially offset by a $2.0M decrease in gross profit.

 

Adjusted income from continuing operations:

Adjusted income from continuing operations was $37.1 million, which represents an increase of $10.4 million compared to the previous year.

 

Adjusted EBITDA:

Adjusted EBITDA was $68.9M, or 7.00% of net sales, for the fiscal year ended September 30, 2017, a decrease of $3.3M with respect to the previous year.

The decrease in adjusted EBITDA was mainly due to a lower gross profit.

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