Blue Bird Corp

Listed Company

BLBDCIK 0001589526NasdaqLarge AcceleratedTruck & Bus BodiesFY ends Oct 3

Period

FY 2025

Revenue

$1.48B

Net Income

$127.72M

Total Assets

$625.25M

Equity

$255.41M

Shares Out

31.59M

Op. Cash Flow

$176.21M

Business

Blue Bird Corp is a leading independent designer and manufacturer of school buses, operating historically as School Bus Holdings and now consolidated under Blue Bird. It offers Type C, Type D and specialty school buses, Micro Bird Type A vehicles through a joint venture, extended warranties, and replacement parts and service support. The company reports two segments — Bus (manufacture and sale of buses and warranties) and Parts (sale and distribution of replacement parts). Blue Bird sells primarily through an exclusive network of U.S. and Canadian dealers, direct fleet and government channels, and selected export dealers.

Summary from filing dated 2025-11-24

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-09-30	FY 2024 2024-09-30	FY 2023 2023-09-30	FY 2022 2022-09-30	FY 2021 2021-09-30
Net sales	1,480	1,347	1,133	801	684
Cost of goods sold	1,177	1,091	994	764	612
Gross profit	304	256	139	37	72
Selling, general and administrative expenses	136	117	87	77	66
Operating profit	167	139	52	−41	7
Interest expense	−7	−11	−18	−15	−10
Interest income	6	4	1	9,000	4,000
Other income (expense), net	3	−4	−8	3	2
Loss on debt refinancing or modification	0	−2	−537,000	−632,000	−598,000
Income before income taxes	170	127	26	−53	−2
Income tax expense	−44	−33	−9	11	1
Equity in net income of non-consolidated affiliate(s)	2	12	7	−4	498,000
Net income	128	106	24	−46	−289,000
Basic weighted average shares outstanding (in shares)	32	32	32	31	27
Diluted weighted average shares outstanding (in shares)	33	33	32	31	27
Basic earnings per share (in dollars per share)	4.01	3.27	0.74	−1.48	−0.01
Diluted earnings per share (in dollars per share)	3.88	3.16	0.74	−1.48	−0.01

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-09-30	FY 2024 2024-09-30	FY 2023 2023-09-30	FY 2022 2022-09-30	FY 2021 2021-09-30
Cash and cash equivalents	229	128	79	10	12
Accounts receivable, net	21	59	13	13	10
Inventories	139	128	135	143	125
Other current assets	22	9	9	8	9
Total current assets	412	323	236	174	156
Property, plant and equipment, net	109	97	95	101	105
Goodwill	19	19	19	19	19
Intangible assets, net	42	44	45	47	49
Equity investment in affiliates	35	32	18	11	15
Deferred tax assets	3	2	2	11	4
Finance lease right-of-use assets	0	332,000	1	2	5
Pension	5	5	0	—	—
Other assets	2	2	2	1	1
Total assets	625	525	418	366	356
Accounts payable	151	143	137	108	72
Warranty	7	7	7	7	7
Accrued expenses	55	56	33	16	12
Deferred warranty income	11	9	8	7	8
Finance lease obligations	0	975,000	583,000	566,000	1
Other current liabilities	6	14	24	6	9
Current portion of long-term debt	5	5	20	20	15
Total current liabilities	237	236	230	165	125
Revolving credit facility	0	0	0	20	45
Long-term debt	85	90	111	130	150
Warranty	10	9	9	9	11
Deferred warranty income	22	19	15	12	12
Deferred tax liabilities	5	3	3	0	4
Finance lease obligations	0	6,000	987,000	2	5
Other liabilities	10	9	8	11	15
Total long-term liabilities	133	129	148	200	264
Guarantees, commitments and contingencies (Note 10)	—	—	—	—	—
Preferred stock, $0.0001 par value, 10,000,000 shares authorized, 0 issued and outstanding with liquidation preference of $0 at September 27, 2025 and September 28, 2024	0	0	0	0	0
Common stock, $0.0001 par value, 100,000,000 shares authorized, 31,884,721 and 32,268,022 shares issued and outstanding at September 27, 2025 and September 28, 2024, respectively	3,000	3,000	3,000	3,000	3,000
Additional paid-in capital	195	186	178	173	96
Retained earnings	88	0	−56	−80	−34
Accumulated other comprehensive loss	−28	−26	−32	−42	−45
Total stockholders' equity	255	160	40	1	−33
Total liabilities and stockholders' equity	625	525	418	366	356

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-09-30	FY 2024 2024-09-30	FY 2023 2023-09-30	FY 2022 2022-09-30	FY 2021 2021-09-30
Depreciation and amortization expense	16	15	16	14	13
Non-cash interest expense	330,000	390,000	1	3	3
Share-based compensation expense	15	9	4	4	6
Equity in net income of non-consolidated affiliate(s)	−9	−12	−7	—	—
Dividend from equity investment in affiliate(s) (Note 17)	0	5	0	0	—
Impairment of equity investment in affiliate(s) (Note 17)	7	0	0	1	0
Loss on disposal of fixed assets	325,000	200,000	64,000	15,000	−679,000
Deferred income tax expense (benefit)	3	−2	8	−11	−925,000
Amortization of deferred actuarial pension losses	279,000	687,000	1	4	2
Accounts receivable	38	−47	−40,000	−3	−2
Inventories	−12	7	8	−27	−69
Other assets	−16	971,000	453,000	2	−409,000
Accounts payable	8	7	29	35	14
Accrued expenses, pension and other liabilities	−3	19	35	−15	−19
Total adjustments	48	6	96	21	−54
Total cash provided by operating activities	176	111	120	−24	−54
Cash paid for fixed assets	−23	−15	−9	−6	−12
Equity investment in affiliate(s) (Note 17)	−1	−552,000	0	—	—
Total cash used in investing activities	−24	−16	−9	−6	−11
Proceeds from lines of credit	0	36	45	135	117
Revolving credit facility repayments	0	−36	−65	−160	−72
Term loan borrowings - new credit agreement (Note 8)	0	100	0	0	—
Term loan repayments (Note 8)	−5	−136	−20	−15	−10
Principal payments on finance leases	−981,000	−589,000	−570,000	−1	−1
Cash paid for debt costs (Note 8)	0	−3	−3	−3	−2
Repurchase of common stock in connection with repurchase program(s) (Note 13)	−40	−10	0	0	—
Repurchase of common stock in connection with stock award exercises	10	1	376,000	2	517,000
Cash received from stock option exercises	5	4	1	303,000	2
Total cash used in financing activities	−51	−47	−43	30	33
Change in cash and cash equivalents	102	49	69	−1	−33
Interest paid	7	10	16	15	12
Interest received	−6	−4	−1	−9,000	—
Income tax paid (received), net of tax refunds	59	29	−29,000	−79,000	31,000
Changes in accounts payable for capital additions to property, plant and equipment	2	721,000	941,000	948,000	587,000
Right-of-use assets obtained in exchange for operating lease obligations	3	2	626,000	1	62,000
Warrants issued for equity investment in affiliate (Note 17)	0	7	0	0	—

Filings

Filing historySign up free to browse every 10-K, 10-Q, 8-K, and proxy this filer has submitted to the SEC.Sign up free · Upgrade to Pro

Material Events

Material EventsTrack every 8-K filing and material event — AI-summarized, timelined, and alertable.Sign up free · Upgrade to Pro

Insiders

Insider ActivitySee executive buy/sell windows and insider trade activity over rolling 30/90/365-day windows.Sign up free · Upgrade to Pro

Institutional Holders

Institutional HoldersSee which funds hold this stock and track position changes quarter over quarter.Sign up free · Upgrade to Pro