Blue Bird Corp falls to one-month low on Q4 loss

Blue Bird

13/12/2022 18:14

** School bus maker Blue Bird Corp's shares  BLBD.O  fall as
much as 12% to one-month low of $10.86 in afternoon trade
    ** BLBD after markets on Monday reported Q4 adj. loss of
$0.66/shr vs analysts' expectations of adj. profit of $0.04/shr
- Refinitiv
    ** BLBD says loss due to decrease in gross profit that fell
because of increased raw material costs and supply chain
disruptions
    ** "In light of significant inflationary pressures
experienced over the last 18 months, we were able to implement a
total of 25% in price increases" - CEO Matthew Stevenson
    ** However, co beats Q4 net revenue estimates
    ** Co expects FY23 net revenue of $900 mln to $1000 mln vs
estimate of $959.80 mln
    ** "We are reconfirming our long term outlook of profitable
growth towards $2 billion in revenues and adjusted EBITDA
margins of 12%, or $250 million" - CFO Razvan Radulescu
    ** Brokerage Craig-Hallum cuts stock PT to $16 from $18
    ** YTD, stock down ~28%
 (Reporting by Granth Vanaik in Bengaluru)
 ((Granth.Vanaik@thomsonreuters.com;))