MACON, Ga. - Blue Bird Corporation (NASDAQ:BLBD), a $1.32 billion market cap company known for its electric and low-emission school buses, announced the appointment of John Wyskiel as its new President and CEO, starting February 17, 2025. Wyskiel, who also joins the Board of Directors, brings over three decades of experience in the automotive industry to his new role.
Wyskiel’s appointment marks a return to Blue Bird, where he previously held the position of General Manager at Blue Bird Coach (NYSE:TPR) in Canada from 2002 to 2004. His recent tenure as President of Magna Seating at Magna International (NYSE:MGA) saw him oversee a $6 billion business and a workforce of 33,000 across multiple countries. Wyskiel’s career includes senior roles at Magna, Dana Corporation, and Borg Warner, with a focus on manufacturing, operations, and sales.
Taking over from Phil Horlock, who had been at the helm since 2011 and briefly reappointed in May 2023, Wyskiel is set to lead Blue Bird’s strategic initiatives and drive profitable growth. Horlock will continue to serve on the Board to support the transition.
Doug Grimm, Chairman of Blue Bird Corporation, praised Wyskiel’s extensive background and operational prowess, deeming him well-suited to guide the company as it aims to expand and enhance its operational processes. Grimm also acknowledged Horlock’s significant contributions to Blue Bird’s success, particularly in establishing the company as a leader in the electric and low-emission school bus market.
Blue Bird has a history dating back to 1927 and has sold over 25,000 buses powered by alternative energies, including propane, natural gas, and electricity. The company is committed to providing clean energy solutions for student transportation.
This leadership change comes at a time when Blue Bird reports strong financial health, with record profitability, margins, and liquidity over the past two years. The company maintains impressive metrics with 19% gross margins and nearly 19% revenue growth over the last twelve months. According to InvestingPro analysis, Blue Bird currently appears undervalued, with a modest P/E ratio of 12.8 and strong financial health score of "GREAT." For deeper insights into Blue Bird’s valuation and 8 additional exclusive ProTips, visit InvestingPro, where you’ll find comprehensive analysis and the detailed Pro Research Report. The information in this article is based on a press release statement and InvestingPro data.
In other recent news, Blue Bird Corp has been making significant strides in the market, as evidenced by a series of recent developments. The company’s Q4 revenues, EBITDA, and EPS surpassed Wall Street estimates, achieving record levels. The company’s backlog of approximately 4,800 units, valued at $735 million, and the electric vehicle (EV) backlog increased quarter-over-quarter to 630 units, worth over $200 million.
Craig-Hallum, an independent research firm, has maintained a Buy rating on the company’s shares and raised the stock’s price target to $71 from $68. This decision was influenced by Blue Bird’s strong finish to the fiscal year 2024 and the expectation of this positive trend and momentum continuing into fiscal year 2025.
In fiscal year 2024, Blue Bird reported a record year with a 6% increase in bus sales, totaling 9,000 units, and a 19% increase in sales revenue. The company’s adjusted EBITDA more than doubled to $183 million, with the adjusted EBITDA margin rising to 13.6%.
The production and deliveries of electric buses grew by 30%, with EVs making up 8% of total sales. Looking ahead, Blue Bird anticipates net revenue of $1.4-$1.5 billion for fiscal 2025 and expects adjusted EBITDA to be between $190-$210 million. The company aims to grow EV unit sales by 64% and achieve a 14% adjusted EBITDA margin.
Finally, Blue Bird has completed its first collective bargaining agreement with the United Steel Workers and received an $80 million investment grant from the Department of Energy for facility expansion. This is expected to contribute to supplying up to 4,000 EV buses over the next three years, supported by the EPA’s $5 billion Clean School Bus Program.
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