Blue Bird raises full-year forecast after record Q3 results and $100M share repurchase plan

Electric and low-emission school bus maker reports strong unit sales and margin growth in Q3 FY2025, lifting adjusted EBITDA guidance and announcing long-term profitability targets.

Blue Bird Corporation has posted record third quarter results for fiscal year 2025, prompting the company to raise its full-year adjusted EBITDA forecast and launch a $100 million share repurchase program.

The Georgia-based manufacturer, listed on Nasdaq as BLBD, reported net sales of $398 million in the quarter ending June 28, up 19.4 percent from the same period last year. Adjusted EBITDA reached $58.5 million, reflecting a 14.7 percent margin and marking the company’s highest quarterly result to date.

President and CEO John Wyskiel says the performance reflects ongoing improvements in operations and continued demand for alternative-powered buses. “We delivered an exceptional Adj. EBITDA of $58.5M for Q3 2025, a new all-time record for the company,” says Wyskiel. “Our backlog remains strong with approximately 3,900 units, despite industry orders slowing due to tariff-related pricing actions.”

In Q3, Blue Bird sold 2,467 buses, 316 more than in the same quarter last year. The company also delivered 271 electric-powered buses, with 1,200 EV units now either sold or included in the firm’s order backlog.

Revenue mix and pricing support growth

The 20.8 percent increase in bus revenue was attributed to both higher unit volume and a 5.4 percent rise in average sales price, driven by customer and product mix shifts and pricing changes introduced in response to tariffs.

Gross profit increased by $16.6 million year-over-year to $85.9 million, while net income rose to $36.5 million, up from $28.8 million a year earlier. Adjusted net income for the quarter was $38.7 million.

CFO Razvan Radulescu says the results put Blue Bird in a strong position heading into the final quarter. “We are tightening our full-year 2025 guidance for net revenue at ~$1.45 billion and raising our Adj. EBITDA guidance to $205–215 million,” he says. “Additionally, we are raising our long-term profit outlook towards an Adjusted EBITDA margin of 16 percent on ~$2 billion in revenue.”

Year-to-date results show steady growth

For the first nine months of fiscal 2025, Blue Bird reported $1.07 billion in net sales, up 7.4 percent year-over-year. Unit sales reached 6,892, a 5.5 percent increase compared to the same period in fiscal 2024.

Adjusted EBITDA for the year to date stands at $153.4 million, a rise of $11.8 million over the same period last year. Net income reached $91.2 million, up from $80.9 million.

In addition to revising its forecast, the company announced a new $100 million share buyback initiative, aimed at returning capital to shareholders while supporting long-term growth.

“Blue Bird is not just meeting expectations—we are exceeding them,” says Wyskiel. “We look forward to sustained profitable growth in the coming years.”