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Blue Bird Corporation (BLBD) has submitted its 10-Q filing for the quarterly period ended December 28, 2024.
The filing includes financial statements for the quarter, showing net sales of $313.9 million, a decrease from $317.7 million in the same quarter the previous year. The decrease is attributed to changes in Bus customer and product mix.
Cost of goods sold for the quarter was $253.6 million, representing 80.8% of sales, compared to 80.0% in the same quarter of the previous year. This increase in cost ratio is due to ongoing inflationary pressures and higher labor costs.
The company reported a gross profit of $60.3 million for the quarter, compared to $63.6 million in the previous year, with the decline attributed to changes in customer and product mix.
Operating expenses, including selling, general, and administrative expenses, increased to $27.3 million from $25.6 million, primarily due to increased labor costs.
Net income for the quarter was $28.7 million, up from $26.2 million in the previous year. The increase in net income is primarily due to a decrease in interest expense and an increase in other income.
Cash provided by operating activities was $26.4 million, while cash used in investing and financing activities was $5.1 million and $12.9 million, respectively.
Blue Bird had a working capital of $101.4 million as of December 28, 2024. The company acknowledges the impact of supply chain constraints and inflationary pressures on its operations.
The filing also details the company's credit agreement, which includes a term loan facility and a revolving credit facility with aggregate commitments of $150.0 million.
Blue Bird does not anticipate any significant changes in its financial condition or liquidity in the near future.
The company continues to focus on its core business of manufacturing and selling school buses, with an emphasis on alternative powered buses, despite ongoing supply chain challenges.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Blue Bird Corporation quarterly 10-Q report dated February 5, 2025. To report an error, please email earnings@qz.com.