Financial News
Blue Bird (BLBD) Q3 Earnings Report Preview: What To Look For
School bus company Blue Bird (NASDAQ:BLBD) will be announcing earnings results tomorrow after market close. Here’s what to expect.
Blue Bird beat analysts’ revenue expectations by 2% last quarter, reporting revenues of $333.4 million, up 13.3% year on year. It was a very strong quarter for the company, with a solid beat of analysts’ EPS estimates and an impressive beat of analysts’ EBITDA estimates.
Is Blue Bird a buy or sell going into earnings? Read our full analysis here, it’s free.
This quarter, analysts are expecting Blue Bird’s revenue to grow 13.5% year on year to $344 million, slowing from the 17.6% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.65 per share.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Blue Bird has a history of exceeding Wall Street’s expectations, beating revenue estimates every single time over the past two years by 11.1% on average.
Looking at Blue Bird’s peers in the heavy transportation equipment segment, some have already reported their Q3 results, giving us a hint as to what we can expect. Cummins posted flat year-on-year revenue, beating analysts’ expectations by 1.8%, and Allison Transmission reported revenues up 12%, topping estimates by 4.3%. Cummins traded up 9.3% following the results while Allison Transmission was also up 8%.
Read our full analysis of Cummins’s results here and Allison Transmission’s results here.
There has been positive sentiment among investors in the heavy transportation equipment segment, with share prices up 7.1% on average over the last month. Blue Bird is down 2.9% during the same time and is heading into earnings with an average analyst price target of $59.57 (compared to the current share price of $41.24).
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