2023-05-15 09:07:44 ET
Blue Bird Corporation ( NASDAQ: BLBD ) announced on Monday that Phil Horlock will return to lead the company again as CEO with Matthew Stevenson leaving the position for personal reasons.
Horlock held the CEO position for nearly 11 years between 2011 and 2021 and presently serves on the board of directors.
"Phil brings extensive knowledge and experience of the school bus industry and the Company to this role. During Phil’s prior tenure, Blue Bird significantly grew both top-line and bottom-line financial results and firmly established itself as the industry leader in alternative-powered school buses," noted Blue Bird Chairman Kevin Penn on the development.
Blue Bird Corporation ( BLBD ) soared more than 30% last week and carved out a new 52-week high of $27.75. The company's earnings report featured 44.4% revenue growth on electric school bus bookings that were 176% higher year-over-year. The order backlog was reported to be almost 5.8K units. Blue Bird ( BLBD ) reconfirmed its long-term outlook of profitable growth towards $2B in revenues and adjusted EBITDA margins of 12%.
Shares of Blue Bird ( BLBD ) tacked on another 0.80% in premarket trading on Monday.
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Blue Bird names Phil Horlock CEO again