Blue Bird Surges On Upbeat Quarterly Results, Increased Outlook

(RTTNews) - Shares of bus manufacturer Blue Bird Corporation (BLBD) are rising more than 16% Tuesday morning after reporting upbeat quarterly results. The company also raised its full-year outlook.

"Our business transformation is already generating record levels of profitability compared with historical levels, and more improvements are still to come," said Razvan Radulescu, CFO of Blue Bird Corporation.

Blue Bird reported profit of $18.62 million or $0.58 per share for the fourth quarter compared with loss of 23.1 million or $0.72 per share in the same quarter a year ago. Excluding one-time items, earnings were $21.35 million or $0.66 per share.

Revenue for the quarter increased 17.6% to $302.96 million from $257.67 million last year.

For the full year 2024, the company now expects revenue to be in the range of $1.15 billion-1.25 billion.

BLBD, currently at $25.35, has traded in the range of $8.91 - $28.80 in the last 1 year.