Shares of electric and low-emission school bus manufacturer Blue Bird Corp. (NASDAQ:BLBD) are rising upward today on the back of a robust second-quarter showing.
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Revenue surged 44.4% year-over-year to $299.8 million, outpacing estimates by nearly $50.3 million. Additionally, EPS at $0.27 comfortably raced past estimates by $0.19.
The company is witnessing robust demand and the order backlog stands at a healthy 5,800 units at present. Further, in electric school buses, while bookings have risen 176%, the order backlog stands at 620 units.
What’s more, a higher average sales price per unit coupled with a product and customer mix change is helping the company realize higher sales. Looking ahead, for the year 2023, BLBD now expects revenue to hover upward of $1.1 billion alongside an adjusted EBITDA range of $55 million and $65 million.
BLBD shares have gained nearly 65.3% over the last six months and are up a further 32% in the pre-market session at the time of publishing today.
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