School bus manufacturer Blue Bird beats Wall Street's 1Q estimates on higher pricing
School bus manufacturer Blue Bird Corp (NASDAQ:BLBD) saw its net loss shrink in its fiscal first quarter and beat Wall Street’s profit and revenue estimates after adopting higher pricing to offset a jump in commodity costs.
In the three months ended December 29, the company posted a net loss of $1.2 million, which represented an improvement of $6.6 million compared with the year-ago period. On an adjusted basis, its earnings came in at $0.05 per share on revenue of $154.9 million.
READ: School bus manufacturer Blue Bird tops 4Q revenue estimates despite rising steel costs
The results handily beat the estimates of Wall Street analysts who had predicted Blue Bird would earn a loss of $0.03 per share on sales of $154.15 million.
In a statement, CEO Phil Horlock suggested that the company’s move to put in place higher prices to offset increasing commodities costs rescued the quarter.
“Maintaining first-quarter profitability at about last year’s level, despite significantly higher steel-led commodity prices and lower volume, was a key objective, and we delivered,” he said. “The pricing actions we took to offset rapidly-increasing commodity costs late in fiscal year 2018 have taken hold as expected, resulting in a 3% increase in net revenue per school bus in the first quarter, compared with last year.”
The company sold a total of 1,600 buses in the quarter, a decrease from the 1,705 buses sold in the year-ago quarter. Looking ahead, the company expects full-year revenue of $990 million to $1.025 billion.
Headquartered in Macon, Georgia, Blue Bird says it has more than 180,000 buses in operation.
Story by ProactiveInvestors
Source: https://www.proactiveinvestors.com/companies/news/214123/school-bus-manufacturer-blue-bird-beats-wall-street-s-1q-estimates-on-higher-pricing-214123.html
Anyone can join.
Anyone can contribute.
Anyone can become informed about their world.
"United We Stand" Click Here To Create Your Personal Citizen Journalist Account Today, Be Sure To Invite Your Friends.
Please Help Support BeforeitsNews by trying our Natural Health Products below!
Order by Phone at 888-809-8385 or online at https://mitocopper.com M - F 9am to 5pm EST
Order by Phone at 866-388-7003 or online at https://www.herbanomic.com M - F 9am to 5pm EST
Order by Phone at 866-388-7003 or online at https://www.herbanomics.com M - F 9am to 5pm EST
Humic & Fulvic Trace Minerals Complex - Nature's most important supplement! Vivid Dreams again!
HNEX HydroNano EXtracellular Water - Improve immune system health and reduce inflammation.
Ultimate Clinical Potency Curcumin - Natural pain relief, reduce inflammation and so much more.
MitoCopper - Bioavailable Copper destroys pathogens and gives you more energy. (See Blood Video)
Oxy Powder - Natural Colon Cleanser! Cleans out toxic buildup with oxygen!
Nascent Iodine - Promotes detoxification, mental focus and thyroid health.
Smart Meter Cover - Reduces Smart Meter radiation by 96%! (See Video).