NASDAQ$BLBD
Blue Bird Corporation · Q3 2020 earnings
Q3 2020 earnings · · Investor relations
Briefing
Blue Bird's Q3 2020 earnings were significantly impacted by COVID-19, but the company focused on margin growth.
Blue Bird's Q3 2020 results were significantly impacted by COVID-19, with net sales down 39% year-over-year to $189.2 million. Despite these challenges, the average bus selling price increased by 9%. The company reported a GAAP net income of $1.3 million and an adjusted EBITDA of $12.5 million.
- Net sales decreased by 39% to $189.2 million due to COVID-19 impacts.
- Average selling price per bus increased by 9% due to pricing and a richer mix of higher-priced vehicles.
- GAAP net income was $1.3 million, a decrease of $13.3 million from the prior year.
- Adjusted EBITDA was $12.5 million, down $16.6 million from the prior year.
Headline financials
Revenue & EPS history
Blue Bird · Revenue · Quarterly
$189M
Revenue by segment
Blue Bird · $288M total across 2 segments · Q3 2023
- Bus Sales$283M+16407779.5%98.4%
- Parts Sales$4.6M—1.6%
Forward guidance
The company is focused on achieving an EBITDA margin target of at least 10% in the near-term and is taking restructuring actions to navigate the challenges posed by COVID-19.
Tailwinds
- Successfully moved to a single shift production schedule to drive efficiency and quality improvement.
- Average selling price per bus increased by more than $7,000, or 9%, over last year's third quarter.
- Alternative-fuel results represent a 48% mix of year-to-date sales and backlog.
- The company is the market share leader in propane, gasoline and electric-powered buses.
- Transformational Initiatives improved profits by $2.3 million in the quarter.
Headwinds
- School shutdowns and shelter-in-place mandates delayed orders through the third quarter.
- Continued supplier disruptions impacted efficiencies throughout the quarter.
- Orders have continued to be slow as schools deliberate online versus in-classroom teaching this Fall.
- Lower volumes and manufacturing disruptions due to COVID-19 impacted gross profit margin.
- Adjusted EBITDA decreased due to lower volume and production inefficiencies due to COVID-19.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q3 2020
+1.6%
Avg return
Earnings day
+2.2%
Avg return
5 days after
+4.5%
Avg return
30 days after
55%
27 / 49 earnings
Positive
+35.7%
Q2 2023
Best reaction
-19.4%
Q4 2022
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q2 2026 | +8.9% | +6.4% | +7.1% | |
| Q1 2026 | +11.8% | +14.2% | +10.2% | |
| Q4 2025 | -5.4% | -4.8% | -5.5% | |
| Q2 2025 | +2.0% | +7.1% | +9.0% | |
| Q1 2025 | +4.2% | +3.2% | -5.1% | |
| Q4 2024 | -1.2% | -1.3% | -5.7% | |
| Q3 2024 | +0.2% | -2.0% | -4.5% | |
| Q2 2024 | +25.9% | +31.4% | +51.8% | |
| Q1 2024 | -2.7% | -0.5% | +3.9% | |
| Q4 2023 | +11.6% | +15.3% | +16.1% | |
| Q3 2023 | -5.0% | -0.2% | +2.3% | |
| Q2 2023 | +35.7% | +13.4% | +10.3% | |
| Q1 2023 | +33.2% | +51.4% | +53.1% | |
| Q4 2022 | -19.4% | -19.8% | +13.7% | |
| Q3 2022 | -0.3% | +8.9% | -5.2% | |
| Q2 2022 | -7.0% | -9.2% | -18.7% | |
| Q1 2022 | +16.1% | +12.4% | +34.9% | |
| Q4 2021 | -5.3% | -8.4% | -3.1% | |
| Q3 2021 | -10.5% | -9.3% | -24.3% | |
| Q2 2021 | -1.4% | +1.2% | -5.7% | |
| Q1 2021 | -18.4% | -20.2% | +9.4% | |
| Q4 2020 | +0.1% | +7.5% | +33.8% | |
| Q3 2020 | -14.4% | -14.9% | -15.6% | |
| Q2 2020 | +9.2% | +15.1% | +31.6% | |
| Q1 2020 | -5.9% | -6.7% | -34.3% | |
| Q4 2019 | +1.3% | +3.7% | +17.9% | |
| Q3 2019 | +2.0% | -9.1% | -5.7% | |
| Q2 2019 | +9.9% | +8.5% | +9.9% | |
| Q1 2019 | -4.9% | -10.1% | -15.7% | |
| Q4 2018 | -0.1% | -6.1% | +1.8% | |
| Q3 2018 | +6.3% | +1.2% | +7.2% | |
| Q2 2018 | -7.4% | -12.7% | -19.3% | |
| Q1 2018 | +15.9% | +17.9% | +20.9% | |
| Q4 2017 | -7.0% | -6.2% | -2.3% | |
| Q3 2017 | +1.7% | +1.1% | +3.4% | |
| Q2 2017 | -1.3% | -1.1% | -5.3% | |
| Q1 2017 | +2.4% | +2.7% | +0.0% | |
| Q4 2016 | +1.2% | -3.5% | -7.0% | |
| Q3 2016 | -1.6% | -1.1% | -1.2% | |
| Q2 2016 | +2.2% | +11.1% | +16.1% | |
| Q1 2016 | -5.9% | — | — | |
| Q4 2013 | +0.4% | — | — | |
| Q4 2015 | +0.4% | — | — | |
| Q3 2015 | -2.0% | — | — | |
| Q2 2015 | +1.4% | — | — | |
| Q3 2014 | +0.8% | — | — | |
| Q1 2015 | +0.8% | — | — | |
| Q4 2014 | +0.5% | — | — | |
| Q2 2014 | -0.6% | — | — |
Discussion
Share your read of this quarter. Sign-in carries your eToro identity.
Join the conversation
Sign in with eToro to post your read of this quarter and vote on others'.
Sign in with eToro