Blue Bird Corp BLBD
The Company (formerly Hennessy Capital Acquisition Corp.) was incorporated in Delaware on September 24, 2013 as a special purpose acquisition company, or SPAC. On February 24, 2015, the Company consummated a business combination (the "Business Combination"), pursuant to which the Company acquired all of the outstanding capital stock of School Bus Holdings Inc., a Delaware corporation ("School Bus Holdings" or "SBH") from The Traxis Group, B.V. (the "Seller"). The total purchase price was paid in a combination of cash in the amount of $100.0 million and 12,000,000 shares of the Company's common stock, $0.0001 par value (the "Common Stock"), valued at $120.0 million.
In connection with the closing of the Business Combination, the Company changed its name from Hennessy Capital Acquisition Corp. to Blue Bird Corporation. Unless expressly stated otherwise in this Report, Blue Bird Corporation is referred to as "Blue Bird," the "Company," "we," "our" or "us," and includes its consolidated subsidiaries.
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $1.48B | $1.35B | $1.13B | $800.6M | $684.0M | $879.2M | $1.02B | $1.02B | $990.6M | $932.0M |
| Cost of revenue | $1.18B | $1.09B | $993.9M | $764.1M | $611.9M | $783.0M | $885.4M | $903.0M | $863.2M | $802.7M |
| Gross profit | $303.5M | $256.2M | $138.8M | $36.5M | $72.1M | $96.2M | $133.5M | $122.0M | $127.4M | $129.4M |
| R&D | $15.2M | $9.4M | $6.6M | $6.1M | $5.2M | $6.4M | $11.5M | $8.5M | $7.4M | $5.4M |
| SG&A | $136.3M | $116.8M | $87.2M | $77.2M | $65.6M | $74.2M | $89.6M | $86.9M | $67.8M | $102.7M |
| Operating income | $167.2M | $139.3M | $51.7M | -$40.7M | $6.5M | $22.0M | $43.8M | $35.1M | $59.5M | $26.6M |
| Interest expense | $7.2M | $10.6M | $18.0M | $14.7M | $9.7M | $12.3M | $12.9M | $6.7M | $7.3M | $16.4M |
| Pre-tax income | $169.6M | $126.9M | $25.8M | -$53.1M | -$2.0M | $10.5M | $29.6M | $26.9M | $37.4M | $9.8M |
| Income tax | $43.9M | $33.2M | $9.0M | $11.5M | $1.2M | $1.5M | $7.6M | $2.6M | $11.9M | $5.8M |
| Net income | $127.7M | $105.5M | $23.8M | -$45.8M | -$289.0K | $12.2M | $24.3M | $30.8M | $28.8M | $6.9M |
| EPS, basic | 4.01 | 3.27 | 0.74 | -1.48 | -0.01 | 0.45 | 0.92 | 1.15 | 0.79 | 0.14 |
| EPS, diluted | 3.88 | 3.16 | 0.74 | -1.48 | -0.01 | 0.45 | 0.90 | 1.08 | 0.74 | 0.14 |
| Shares, diluted (wtd. avg.) | 32.9M | 33.3M | 32.3M | 31.0M | 27.1M | 27.1M | 27.0M | 28.6M | 24.9M | 21.3M |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $229.3M | $127.7M | $79.0M | $10.5M | $11.7M | $44.5M | $71.0M | $60.3M | $62.6M | $52.3M |
| Receivables | $20.6M | $59.1M | $12.6M | $12.5M | $10.0M | $7.6M | $10.5M | $24.1M | $10.1M | $20.3M |
| Inventory | $139.5M | $127.8M | $135.3M | $143.0M | $125.2M | $56.5M | $78.8M | $57.3M | $76.2M | $53.8M |
| Total current assets | $411.6M | $323.4M | $236.1M | $174.5M | $156.1M | $116.9M | $172.1M | $149.8M | $160.4M | $132.5M |
| Property, plant and equipment | $108.5M | $97.3M | $95.1M | $100.6M | $105.5M | $103.4M | $100.1M | $66.1M | $34.7M | $33.5M |
| Goodwill | $18.8M | $18.8M | $18.8M | $18.8M | $18.8M | $18.8M | $18.8M | $18.8M | $18.8M | $18.8M |
| Other intangibles | $41.7M | $43.6M | $45.4M | $47.4M | $49.4M | $51.6M | $54.7M | $55.5M | $57.5M | $59.5M |
| Total assets | $625.3M | $524.9M | $417.8M | $366.1M | $356.0M | $317.4M | $365.4M | $307.4M | $295.8M | $277.9M |
| Accounts payable | $151.5M | $143.2M | $137.1M | $107.9M | $72.3M | $57.6M | $102.3M | $95.8M | $87.3M | $80.6M |
| Short-term debt | $5.0M | $5.0M | $19.8M | $19.8M | $14.8M | $9.9M | $9.9M | $9.9M | $8.0M | $11.8M |
| Total current liabilities | $236.8M | $236.0M | $229.6M | $164.8M | $124.8M | $111.6M | $169.7M | $148.9M | $138.8M | $130.5M |
| Long-term debt | $85.3M | $90.0M | $110.5M | $130.4M | $149.6M | $164.2M | $173.2M | $132.2M | $143.2M | $140.4M |
| Retained earnings | $88.2M | $0 | -$55.7M | -$79.5M | -$33.8M | -$33.5M | -$45.6M | -$69.2M | -$100.1M | -$128.9M |
| Total equity | $255.4M | $159.6M | $40.0M | $1.4M | -$32.7M | -$53.2M | -$67.8M | -$28.3M | -$58.5M | -$87.0M |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $176.2M | $111.1M | $119.9M | -$24.4M | -$54.2M | $3.5M | $55.7M | $48.4M | $47.6M | $25.1M |
| Depreciation and amortisation | $15.6M | $14.8M | $16.0M | $14.1M | $13.4M | $14.4M | $10.4M | $9.0M | $8.2M | $8.0M |
| Stock-based compensation | $14.8M | $8.6M | $4.2M | $3.7M | $5.9M | $4.1M | $4.3M | $2.6M | $1.3M | $12.7M |
| Capital expenditure | $22.9M | $15.3M | $8.5M | $6.5M | $12.2M | $19.0M | $35.5M | $32.1M | $9.3M | $9.6M |
| Investing cash flow | -$23.9M | -$15.8M | -$8.5M | -$6.5M | -$11.3M | -$18.8M | -$35.5M | -$32.1M | -$9.2M | -$9.6M |
| Financing cash flow | -$50.7M | -$46.6M | -$42.9M | $29.7M | $32.8M | -$11.1M | -$9.5M | -$18.6M | -$28.1M | -$16.1M |
| Dividends paid | — | — | — | — | — | — | — | — | — | $0 |
| Buybacks | $9.9M | $1.2M | $376.0K | $1.7M | $517.0K | $3.6M | — | — | — | — |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001589526-25-000100.
Plot the figures US dollars
- Revenue
- Gross profit
- Net income
| Fiscal year | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $932.0M | $990.6M | $1.02B | $1.02B | $879.2M | $684.0M | $800.6M | $1.13B | $1.35B | $1.48B |
| Gross profit | $129.4M | $127.4M | $122.0M | $133.5M | $96.2M | $72.1M | $36.5M | $138.8M | $256.2M | $303.5M |
| Net income | $6.9M | $28.8M | $30.8M | $24.3M | $12.2M | -$289.0K | -$45.8M | $23.8M | $105.5M | $127.7M |
Recent filings and events
- Material agreement signed The company entered an agreement outside the ordinary course of business - a large contract, a credit facility, a merger agreement. Item 1.01
- Results announced The quarterly or annual earnings release. Arrives four times a year from almost every company here. Item 2.02
- Regulation FD disclosure Something the company told the market and had to tell everyone at once - usually a slide deck or a press release. Item 7.01
- Regulation FD disclosure Item 7.01
- Material agreement signed Item 1.01
- Results announced Item 2.02
- Regulation FD disclosure Item 7.01
- Officer or director change Someone at the top arrived or left. The item covers everything from a board retirement to a chief executive being removed, and only the filing itself says which. Item 5.02
- Acquisition or disposal completed A purchase or sale of a significant business or asset has closed. Item 2.01
- Unregistered share sale Shares issued outside a registered offering. Dilution, and for a small company often the way it is funded. Item 3.02
- Officer or director change Item 5.02
- Charter or fiscal year changed A change to the company's governing documents, or to when its year ends. Item 5.03
Item numbers are Form 8-K's own, and a filing date is up to four business days after the thing it reports. The same feed across the whole market.
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