By Aisha Al-Muslim
Blue Bird Corp. (BLBD) reported fourth-quarter and full-year earnings that beat analysts’ expectations after the school-bus manufacturer achieved its highest bus sales in 15 years.
The Fort Valley, Ga.-based company reported a profit of $14.5 million, or 28 cents a share, compared with $10.8 million, or 39 cents a share, a year earlier.
Excluding one-time items, Blue Bird earned 51 cents a share for the fourth quarter, compared with 42 cents a share a year ago.
Revenue for the quarter jumped 9.2% from a year ago to $312.7 million. Analysts polled by Thomson Reuters had forecast adjusted earnings of 50 cents on $310.7 million in revenue.
Bus sales for the quarter totaled 3,608, a 9% increase.
In its fiscal 2017, the company earned a profit of $28.8 million, or 74 cents a share, compared with $6.9 million, or 14 cents a share, a year earlier.
Revenue for the fiscal year rose 6.3% to $990.6 million. Bus sales rose 7% to 11,317.
Excluding one-time items, Blue Bird earned $1.27 a share for the year, compared with $1.14 a share a year ago. Analysts polled by Thomson Reuters expected $1.17 a share and $988.6 million in revenue for the year.
Blue Bird forecast total revenue for fiscal 2018 of $1 billion to $1.03 billion. Analysts had forecast $1.07 billion in revenue in the current year.
Shares were unchanged at $18.75 in after-hours trading. Shares are up 21% for the year.
Write to Aisha Al-Muslim at [email protected]
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