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Blue Bird shares target raised by Needham on EV adoption optimism

MACON, Ga., July 17, 2024--(BUSINESS WIRE)-- In other recent news, Blue Bird Corporation, a leading manufacturer of school buses, has announced significant developments. The company, in partnership with IMMI, is set to introduce advanced safety features on its vehicles from 2024. This includes three-point seat belts for all passengers and a steering wheel deployed airbag for drivers, along with high-intensity LED lighting, high-resolution cameras, and enhanced visibility elements.


Analysts from Craig-Hallum and DA Davidson have raised their price targets on Blue Bird shares, reflecting the company's strong financial performance and market position, especially in the electric school bus segment. Barclays has maintained its Overweight rating on Blue Bird, highlighting the expansion of the company's Total Addressable Market due to its step van offering.


Blue Bird has also negotiated a three-year collective bargaining agreement with the United Steelworkers union, enhancing employee offerings and reinforcing its reputation as a preferred employer in the industry.


In other recent news, Blue Bird Corporation, a leading manufacturer of school buses, has announced significant developments. The company, in partnership with IMMI, is set to introduce advanced safety features on its vehicles from 2024. This includes three-point seat belts for all passengers and a steering wheel deployed airbag for drivers, along with high-intensity LED lighting, high-resolution cameras, and enhanced visibility elements.


Analysts from Craig-Hallum and DA Davidson have raised their price targets on Blue Bird shares, reflecting the company's strong financial performance and market position, especially in the electric school bus segment. Barclays has maintained its Overweight rating on Blue Bird, highlighting the expansion of the company's Total Addressable Market due to its step van offering.


Blue Bird has also negotiated a three-year collective bargaining agreement with the United Steelworkers union, enhancing employee offerings and reinforcing its reputation as a preferred employer in the industry.


Additionally, strategic changes have been announced in its Sales and Marketing division, promoting Tim Gordon to Senior Vice President of Sales and Marketing, Albert Burleigh to Vice President of North America Bus Sales, and Jenna Van Harpen to Vice President of National Fleet Sales.


These are recent developments that mark a significant period for the company.


About Blue Bird Corporation

Blue Bird (NASDAQ: BLBD) is recognized as a technology leader and innovator of school buses since its founding in 1927. Our dedicated team members design, engineer and manufacture school buses with a singular focus on safety, reliability, and durability. Blue Bird buses carry the most precious cargo in the world – the majority of 25 million children twice a day – making us the most trusted brand in the industry. The company is the proven leader in low- and zero-emission school buses with more than 20,000 propane, natural gas, and electric powered buses in operation today. Blue Bird is transforming the student transportation industry through cleaner energy solutions. For more information on Blue Bird's complete product and service portfolio, visit www.blue-bird.com.


Forward Looking Statements

This press release includes forward-looking statements within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements relate to expectations for future financial performance, business strategies or expectations for our business. Specifically, forward-looking statements include statements in this press release regarding guidance, seasonality, product mix and gross profits and may include statements relating to:


  • Inherent limitations of internal controls impacting financial statements

  • Growth opportunities

  • Future profitability

  • Ability to expand market share

  • Customer demand for certain products

  • Economic conditions (including tariffs) that could affect fuel costs, commodity costs, industry size and financial conditions of our dealers and suppliers

  • Labor or other constraints on the Company’s ability to maintain a competitive cost structure

  • Volatility in the tax base and other funding sources that support the purchase of buses by our end customers

  • Lower or higher than anticipated market acceptance for our products

  • Other statements preceded by, followed by or that include the words "estimate," "plan," "project," "forecast," "intend," "expect," "anticipate," "believe," "seek," "target" or similar expressions


These forward-looking statements are based on information available as of the date of this press release, and current expectations, forecasts and assumptions, and involve a number of judgments, risks and uncertainties. Accordingly, forward-looking statements should not be relied upon as representing our views as of any subsequent date, and we do not undertake any obligation to update forward-looking statements to reflect events or circumstances after the date they were made, whether as a result of new information, future events or otherwise, except as may be required under applicable securities laws. The factors described above, as well as risk factors described in reports filed with the SEC by us (available at www.sec.gov), could cause our actual results to differ materially from estimates or expectations reflected in such forward-looking statements.


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