Blue Bird Corp (NASDAQ:BLBD) shares rose, up 8.67% trading at $23.70 in premarket, after the EV school bus firm’s fourth-quarter results showed a swing into profit.
The company posted adjusted earnings of $0.66 per share, compared to a loss of $0.66 per share a year earlier and above expectations of $0.47 per share.
Revenue was reported at $303 million for the quarter, up 17% year-over-year and topping expectations of $290.11 million.
“The Blue Bird team executed a rigorous transformational plan over the past two years to improve operations and throughput, control fixed costs, recover economics through pricing and expand our leadership position in alternative-powered buses,” CEO Phil Horlock said in a statement.
“The market demand for Blue Bird’s school buses remains very strong with approximately 4,600 units in our order backlog,” he added.
Looking ahead, Blue Bird issued fiscal 2025 net revenue guidance of $1.15 billion to $1.25 billion.