Financial PerformanceFQ2 saw record revenue of $359mn, 1% ahead of expectations and record EBITDA of $49.2mn, 4% ahead of consensus.
Market ExpansionThe Buy rating is reiterated due to the potential expansion into the class 5/6 truck market which is seen as a growth opportunity beyond the traditional school bus market.
Operational ExecutionBlue Bird beat and maintained outlook, with revamped operations continuing to drive outperformance.