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Blue Bird Corporation (BLBD) is a leading independent designer and manufacturer of school buses, headquartered in Fort Valley, Georgia. The company specializes in producing a variety of school buses powered by diesel, propane, gasoline, and electric engines, as well as selling replacement parts for these vehicles. Blue Bird serves primarily the United States and Canada, with a focus on innovation and environmental sustainability in the transportation industry.
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Bus Segment - Designs, engineers, manufactures, and sells school buses, including Type A, Type C, and Type D buses, as well as specialty buses for government and commercial applications. Offers alternative-powered buses such as propane, gasoline, and electric models.
- Type A Buses - Manufactured through a joint venture in Canada, catering to smaller transportation needs.
- Type C and Type D Buses - Larger buses designed for school and specialty applications.
- Alternative-Powered Buses - Includes propane, gasoline, and electric buses, with over 40,000 alternative fuel-powered buses deployed since 2012 and more than 2,000 electric buses delivered since 2018.
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Parts Segment - Sells replacement bus parts essential for maintenance and repairs, distributed through a dedicated center in Delaware, Ohio, and direct shipments from suppliers.
| Name | Position | External Roles | Short Bio | |
|---|---|---|---|---|
John Wyskiel ExecutiveBoard | President and CEO | John Wyskiel is the President and CEO of Blue Bird Corporation and serves as a Class I director since February 17, 2025. He is an automotive industry veteran with over 35 years of experience, having held key roles at Magna International, Dana Corporation, and Borg Warner. | ||
Philip Horlock ExecutiveBoard | President and CEO | Philip Horlock is the current President and CEO of Blue Bird Corporation since September 28, 2024. He previously served as President and CEO from February 24, 2015 to October 31, 2021 and again as CEO from May 2023 while retaining his board membership since February 24, 2015. | ||
Razvan Radulescu Executive | Chief Financial Officer (CFO) | Razvan Radulescu is the CFO of Blue Bird Corporation since October 1, 2021 , and previously held various executive roles at Daimler AG. | ||
Ted Scartz Executive | Senior Vice President and General Counsel | Ted Scartz has served as Senior Vice President and General Counsel at Blue Bird Corporation since May 2022. Previously, he held key legal roles at The Aaron's Company, Inc. from 2013 to 2022 and at Siemens Industry, Inc. from 2007 to 2013. | ||
Douglas Grimm Board | Chairman of the Board | Chairman of the Board of Electrical Components International, Inc. ; Director of Pangea Corporation ; Board Member of Lumileds | Douglas Grimm has served as Chairman of the Board at BLBD since August 7, 2024 and as a Class III director since April 1, 2017. He brings extensive automotive and executive experience from previous roles including leadership at V-to-X, LLC and Metaldyne Performance Group, Inc. | |
Edward T. Hightower Board | Class I Director | Founder and Managing Director of Motoring Ventures LLC | Edward T. Hightower is an experienced automotive and EV industry leader who served as CEO and President at Lordstown Motors before joining BLBD as a Class I Director and Audit Committee member on October 23, 2024. | |
Kevin Penn Board | Class I Director | Managing Director at American Securities LLC; Chairman of the Board at Learning Care Group; Chairman of the Board at Foundation Building Materials; Chairman of the Board at NWN Carousel; Chairman of the Board at Conair; Chairman of the Board at Trace3; Chairman of the Board at SOLV Energy; Director at Amentum; Director at CS Energy | Kevin Penn has served as a Class I Director at BLBD since June 3, 2016 and was Chairman of the Board from 2016 until August 7, 2024. He is also a Managing Director at American Securities LLC since 2009, contributing extensive private equity and strategic governance experience. | |
Simon J. Newman Board | Class II director | Chairman of MW Components ; Chairman of Paragon Medical ; Board Member of Elgen Manufacturing Company Inc. ; Board Member of Chromalloy | Simon J. Newman has been serving as the Class II director at BLBD since March 31, 2023. He brings over 40 years of manufacturing and executive experience, having served as CEO and later Chairman at MW Components and Paragon Medical along with board roles at Elgen Manufacturing Company Inc. and Chromalloy. |
- With the proposed 10% tariffs on China, can you detail the estimated cost impact on critical components and explain the specific sourcing shifts or pricing adjustments you have in place to counteract this risk?
- In light of the reported prebuying of EV components amid tariff uncertainty, can you provide detailed figures on the inventory buildup and discuss how this strategy might impact your working capital and overall margins?
- Regarding your ongoing efforts to reduce the EV school bus cost structure, can you elaborate on the progress of alternative drivetrain tests and share specific targets or outcomes that will help bridge the total cost of ownership gap with ICE buses?
- With the uncertainty surrounding the EPA funding pause and its impact on EV unit sales, what are the precise assumptions behind your adjusted EBITDA guidance range, and how would a prolonged delay in funding affect your ability to meet your medium- to long-term margin objectives?
- Given your commitment to a $10 million quarterly share buyback amid strong profitability, how do you justify this capital allocation strategy over potentially more aggressive repurchases, and under what circumstances might you reconsider this approach?
Competitors mentioned in the company's latest 10K filing.
| Company | Description |
|---|---|
Thomas Built Bus | A subsidiary of Daimler Trucks North America, it is one of the principal competitors in the U.S. and Canadian school bus industry. It competes on product diversification, innovation, safety, quality, and price. It also offers electric-powered school buses, directly competing with the company's electric offerings. As part of a larger corporation, it may have greater access to financial and technical resources. |
IC Bus | A subsidiary of International Motors, LLC (formerly Navistar, Inc.), it is another principal competitor in the U.S. and Canadian school bus industry. It competes on similar grounds as others in the industry, including product innovation and price. It also offers electric-powered school buses, competing directly with the company's electric offerings. Being part of a larger corporation, it may have access to more resources. |
Recent press releases and 8-K filings for BLBD.
- Record Q2 results: Blue Bird achieved a quarterly record with $359 million in net revenue and $49 million in adjusted EBITDA, driven by strong pricing actions and a high mix of alternative power vehicles, as well as solid bus sales and backlog performance.
- Guidance maintained amid tariff challenges: The company confirmed its full-year guidance of approximately $1.45 billion in revenue and $200 million in adjusted EBITDA despite tariff impacts, particularly on the EV segment, and has implemented targeted pricing actions to mitigate these challenges.
- Strategic adjustments due to tariffs: Tariff increases – including a 2% immediate tariff increase and additional price hikes – are impacting EV pricing, prompting Blue Bird to prioritize production of ICE buses in Q4 while evaluating the full effect on EV pricing strategies.
- FY2025 Outlook: The presentation outlines strong full-year guidance with $1.45B in revenue and an adjusted EBITDA of ~$200M at ~14% margin, along with near-record Q1 performance details.
- Leadership in Alternative Power: The company emphasized its market leadership in electric and non-diesel bus sales, supported by a robust EV backlog of approximately 1,000 EVs.
- Strategic Investments: A key highlight is the $80M DOE MESC grant awarded for a new 600k sq.ft. production facility in Fort Valley, GA, aimed at increasing production capacity and supporting long-term growth.
- Delivered robust Q1 2025 performance with $314M in revenue, $29M in net income, and near-record adjusted EBITDA of $46M at ~14% margin
- Maintained full-year guidance with expected revenue of $1.4B–$1.5B and adjusted EBITDA of $185M–$215M, with potential upside as federal funding uncertainties stabilize
- Recorded 2,130 bus sales and built a strong backlog of 4,400 units across ICE and EV models, underscoring sustained market demand
- Secured an $80M DOE-backed contract for plant expansion in Fort Valley and benefited from the lifting of the EPA funding pause, bolstering future growth