Blue Bird Corp (BLBD) FY2025 10-K Annual Report
Blue Bird Corp (BLBD) 10-K annual report for fiscal year 2025, filed with SEC EDGAR on Nov 24, 2025. This page provides AI-powered analysis including business overview, management discussion & analysis (MD&A), risk factors, and key financial data such as revenue, net income, gross margin, operating margin, and return on equity (ROE) extracted from XBRL.
Blue Bird Corp FY2025 10-K Analysis
Business Overview
- • Core business model: Designer and manufacturer of school buses and replacement parts with focus on multiple powertrain options including diesel, propane, gasoline, and electric
- • New product focus: First-in-industry standard three-point seat belts on all student seats and introduction of 4Front steering wheel air bag for drivers starting fiscal 2026
- • Strategic shift: Expansion of electric bus production capacity supported by $80 million DOE MESC grant and increased investment to convert facility for all powertrains
- • Quantitative metric: Delivered 2,000th electric school bus in fiscal 2024, over 619,000 total buses sold since 1927
- • Noteworthy fact: Awarded $80 million DOE grant in fiscal 2024 to convert former diesel motorhome plant into advanced multi-powertrain bus facility, under government review in 2025
Management Discussion & Analysis
- • Revenue not explicitly stated; sold 9,000 units in fiscal 2024 and over 9,400 units in fiscal 2025, backlog down from 4,800 to 3,070 units
- • Gross margin in fiscal 2025 better than fiscal 2024; gross profit and margin in fiscal 2023 and 2024 consistent with or better than pre-pandemic levels
- • Manufacturing efficiencies improved; supply chain constraints limited production volume and mix due to critical component shortages and raw materials cost increases
- • No specific cash flow, buyback, dividend, or capex amounts disclosed in this text
- • Management highlights ongoing supply chain risks tied to global conflicts; uncertain magnitude/duration of future disruptions impacting production and costs
Risk Factors
- • Inflation and tariffs risk: inventory purchase costs increased due to supply chain disruptions and tariffs imposed in fiscal 2025
- • Geopolitical supply chain impact: Russia's invasion of Ukraine caused inflation and freight cost escalation affecting fiscal 2022-2025
- • Revenue exposure to student enrollment shifts from remote learning reducing bus ridership and new orders
- • Competitive risk from major fleet operators vying for accounts impacting sales based on fleet brand preference
- • Interest expense risk linked to debt levels and fluctuating interest rates affecting borrowing costs
Blue Bird Corp FY2025 Key Financial MetricsXBRL
Revenue
$1.5B
▲ +9.9% YoY
Net Income
$128M
▲ +21.0% YoY
Gross Margin
20.5%
▲ +149bp YoY
Operating Margin
11.3%
▲ +95bp YoY
Net Margin
8.6%
▲ +79bp YoY
ROE
50.0%
▼ -1614bp YoY
Total Assets
$625M
▲ +19.1% YoY
EPS (Diluted)
$3.88
▲ +22.8% YoY
Operating Cash Flow
$176M
▲ +58.6% YoY
Source: XBRL data from Blue Bird Corp FY2025 10-K filing on SEC EDGAR. All figures in USD.
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