BLBD - Blue Bird Corporation (BLBD) Q1 2024 Earnings Call Transcript

2024-02-07 23:36:02 ET

Blue Bird Corporation (BLBD)

Q1 2024 Results Earnings Conference Call

February 7, 2024, 04:30 PM ET

Company Participants

Mark Benfield - Head of Invest Relations

Phil Horlock - Chief Executive Officer

Razvan Radulescu - Chief Financial Officer

Conference Call Participants

Michael Shlisky - D.A. Davidson & Co.

Eric Stine - Craig-Hallum

Craig Irwin - ROTH-MKM

Presentation

Operator

Hello, all. And welcome to the Blue Bird Corporation Fiscal 2024 First Quarter Earnings. My name is Lydia, and I'll be your operator today. [Operator Instructions].

I will now hand you over to your host, Mark Benfield, Head of Invest Relations, to begin.

Mark Benfield

Thank you. And welcome to Blue Bird's fiscal 2024 first quarter earnings conference call. The audio for our call is webcast live on blue-bird.com under the Investor Relations tab. You can access supporting slides on our website by clicking on the Presentations box on our IR website.

Our comments today include forward-looking statements that are subject to risks that could cause actual results to be materially different. Those risks include, among others, matters we have noted on the following two slides and in our filings with the SEC. Blue Bird disclaims any obligation to update the information in this call.

This afternoon, you'll hear from Blue Bird CEO, Phil Horlock, and CFO, Razvan Radulescu. Then we'll take some questions.

Let's get started. Phil?

Phil Horlock

Thanks, Mark. And good afternoon, everybody. It's great to be here and to share with you our results for our fiscal 2024 first quarter. Now, you recall in our last earnings call, we reported record results for fiscal 2023 fourth quarter and full year. Well, I'm pleased to tell you that our momentum has not slowed down at all, where the Blue Bird team did a fantastic job in delivering another all-time record profit in the first quarter of fiscal 2024.

Razvan will be taking you through the details of our financial results shortly, so let me get started with the key takeaways for the first quarter on slide 6.

As the headline states, we achieved record financial results in the first quarter of fiscal 2024. As I just mentioned, and as shown in the first line in the box, it was a record adjusted EBITDA for any quarter in our history. And our net sales revenue was a record for any quarter in the first half of fiscal year. ...

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