Blue Bird Corporation

Blue Bird Closes $600 Million Credit Facility Refinancing, Extends Maturity to 2031

Blue Bird closed a new $600 million senior secured credit facility, replacing its prior $250 million facilities and extending maturity from November 2028 to September 2031. The deal consists of a $300 million revolver and a $300 million delayed draw term loan, with pricing lowered to SOFR plus 1.25%-2.25% and a 3.25x maximum net leverage covenant. At closing, the company had ~$86 million drawn and $670+ million of available liquidity. CFO Razvan Radulescu said the refinancing more than doubles borrowing capacity, lowers cost of debt, and funds investment in operations and product development while keeping a conservative balance sheet.

•19d ago

Blue Bird Reports Fiscal 2026 Third Quarter Results

Blue Bird reported fiscal Q3 net sales of $517.2 million, up 29.9% year-over-year, with GAAP net income reaching $185.3 million driven by the inclusion of Micro Bird and strong pricing. Adjusted EBITDA increased to $71.4 million with a 14% margin, prompting management to raise full-year FY2026 guidance to approximately $247 million. The company also announced a strategic collaboration with Ford Motor Company to design and manufacture the next generation F53/59 commercial chassis, targeting a long-term EBITDA of $500 million.

•2mo ago

Blue Bird Enters Definitive Agreement with Ford to Expand Commercial Stripped Chassis Operations

Blue Bird entered a definitive agreement with Ford to design, manufacture, and sell the next generation F-53/F-59 commercial stripped chassis starting in 2028. To facilitate this expansion, Blue Bird will acquire the Detroit Assembly Plant assets from Detroit Chassis LLC, the long-time manufacturer of these platforms. The collaboration leverages Ford's powertrain technology and is expected to significantly diversify Blue Bird's product portfolio and addressable market.

•2mo ago

Blue Bird Reports Fiscal 2026 Second Quarter Results

Blue Bird delivered fiscal Q2 net sales of $352.6 million with GAAP net income of $29.3 million, or $0.90 diluted EPS, despite a 1.7% YoY revenue decline attributed to fewer production days. The company achieved a record Q2 Adjusted EBITDA of $50.8 million with a 14.4% margin, prompting a raise in full-year guidance to ~$1.75 billion in revenue and ~$245 million in Adjusted EBITDA. Management highlighted strong progress in the electric bus segment with 201 units sold this quarter and successful integration of the Micro Bird acquisition.

•5mo ago

RIO BRAVO-GREELEY UNION SCHOOL DISTRICT TO BREAK GROUND ON ELECTRIC SCHOOL BUS PROJECT

Blue Bird Corporation will supply eight electric school buses to Rio Bravo-Greeley Union School District as part of a new electrification initiative. The project is being delivered in partnership with Highland Electric Fleets, which is handling the charging infrastructure and support services. The dedicated charging depot is expected to be completed in early 2027.

•5mo ago

Bibb County School District to Unveil 15 Electric School Buses, Advancing Student Transportation in Macon

Blue Bird Corporation is deploying 15 Type C electric school buses for the Bibb County School District, marking the district's initial step toward fleet electrification. Highland Electric Fleets is supporting the initiative by managing the charging infrastructure to ensure the fleet is ready for daily routes without increasing administrative overhead. This deployment highlights Blue Bird's ongoing presence in its headquarters city of Macon, where the company has operated for nearly a century.

•6mo ago