Short answer
Blue Bird Corp (BLBD) filed its fiscal 2025 10-K annual report with the SEC on Nov 24, 2025. It reported revenue of $1.5B (+9.9% year over year) and net income of $128M.
- Top risk flagged: Inflation and tariffs risk: inventory purchase costs increased due to supply chain disruptions and tariffs imposed in fiscal 2025
FY2025 key financial metrics · XBRL
- Revenue
- $1.5B
- +9.9% YoY
- Net income
- $128M
- +21.0% YoY
- Operating margin
- 11.3%
- +1.0 pp YoY
- Gross margin
- 20.5%
- +1.5 pp YoY
- EPS (diluted)
- $3.88
- +22.8% YoY
- ROE
- 50.0%
- −16.1 pp YoY
- Operating cash flow
- $176M
- +58.6% YoY
Source: XBRL data from the Blue Bird Corp (BLBD) FY2025 10-K on SEC EDGAR. USD.
Blue Bird Corp FY2025 10-K analysis
AI summary of each section, grounded in the filing text
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
- 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
Generated from the filing text; verify against the original. How to read a 10-K
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