$BLBD

Blue Bird Corp

CIK:0001589526|SEC Filings

Condensed Consolidated Statements of Operations - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Jun. 27, 2026	Jun. 28, 2025	Jun. 27, 2026	Jun. 28, 2025
Income Statement [Abstract]
Net sales	$ 517,160	$ 398,011	$ 1,202,879	$ 1,070,734
Cost of goods sold	413,786	312,083	957,629	853,635
Gross profit	103,374	85,928	245,250	217,099
Operating expenses
Selling, general and administrative expenses	40,706	35,859	105,787	100,277
Operating profit	62,668	50,069	139,463	116,822
Interest expense	(1,964)	(1,738)	(5,075)	(5,466)
Interest income	627	1,483	4,537	4,309
Other income (expense), net (Notes 13 and 14)	135,690	(580)	132,557	2,780
Income before income taxes	197,021	49,234	271,482	118,445
Income tax expense	(10,173)	(12,375)	(28,394)	(30,197)
Equity in net (loss) income of non-consolidated affiliates	(1,593)	(404)	2,224	2,975
Net income	$ 185,255	$ 36,455	$ 245,312	$ 91,223
Earnings per share:
Basic weighted average shares outstanding	34,237,303	31,556,312	32,547,949	31,899,623
Diluted weighted average shares outstanding	35,150,916	32,581,820	33,464,047	33,023,743
Basic earnings per share (in dollars per share)	$ 5.41	$ 1.16	$ 7.54	$ 2.86
Diluted earnings per share (in dollars per share)	$ 5.27	$ 1.12	$ 7.33	$ 2.76

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	9 Months Ended
	Jun. 27, 2026	Jun. 28, 2025
Cash flows from operating activities
Net income	$ 245,312	$ 91,223
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization expense	16,791	11,671
Non-cash interest expense	236	249
Share-based compensation expense	5,564	12,910
Equity in net income of non-consolidated affiliates	(2,224)	(2,975)
Loss on disposal of fixed assets	52	316
Deferred income tax expense (benefit)	95	(5,442)
Amortization of deferred actuarial pension losses	315	209
Pension plan settlement loss (Note 14)	19,562	0
Remeasurement gain	(160,522)	0
Changes in assets and liabilities:
Accounts receivable	(32,848)	37,991
Inventories	(17,894)	(23,244)
Other assets	(3,097)	(8,709)
Accounts payable	7,663	7,305
Accrued expenses, pension and other liabilities	36,372	(10,408)
Total adjustments	(129,935)	19,873
Total cash provided by operating activities	115,377	111,096
Cash flows from investing activities
Cash paid for fixed assets	(22,695)	(18,215)
Equity investment in affiliates (Note 11)	(190)	(850)
Business acquisition, net of cash acquired (Note 13)	(49,641)	0
Total cash used in investing activities	(72,526)	(19,065)
Cash flows from financing activities
Term loan repayments	(3,750)	(3,750)
Repayment of Micro Bird debt (Note 4)	(129,618)	0
Principal payments on finance leases	(231)	(981)
Repurchase of common stock in connection with repurchase programs (Note 12)	(19,948)	(38,993)
Repurchase of common stock in connection with stock award exercises	(2,574)	(4,412)
Cash received from stock option exercises	781	1,484
Total cash used in financing activities	(155,340)	(46,652)
Change in cash and cash equivalents	(112,489)	45,379
Cash and cash equivalents at beginning of period	229,313	127,687
Cash and cash equivalents at end of period	116,824	173,066
Supplemental disclosures of cash flow information
Interest paid	4,989	5,710
Interest received	(5,018)	(4,132)
Income tax paid, net of tax refunds	16,728	43,594
Non-cash investing and financing activities:
Changes in accounts payable for capital additions to property, plant and equipment	2,402	1,573
Right-of-use assets obtained in exchange for operating lease obligations	$ 3,713	$ 0

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 27, 2026	Sep. 27, 2025
Current assets
Cash and cash equivalents	$ 116,824	$ 229,313
Accounts receivable, net	53,498	20,650
Inventories	302,468	139,470
Other current assets	40,920	22,195
Total current assets	513,710	411,628
Property, plant and equipment, net	165,118	108,541
Goodwill	264,102	18,825
Intangible assets, net	175,826	41,685
Equity investment in affiliates	27	35,197
Deferred tax assets	0	2,697
Finance lease right-of-use assets	28,664	0
Pension (Note 14)	17,726	4,889
Other assets	1,347	1,793
Total assets	1,166,520	625,255
Current liabilities
Accounts payable	174,964	151,479
Warranty	10,924	7,494
Accrued expenses	66,385	55,164
Deferred warranty income	12,633	11,329
Finance lease obligations	976	0
Other current liabilities	42,464	6,333
Current portion of long-term debt	5,000	5,000
Total current liabilities	313,346	236,799
Long-term liabilities
Revolving credit facility	0	0
Long-term debt	81,810	85,324
Warranty	17,079	9,681
Deferred warranty income	24,262	22,368
Deferred tax liabilities	32,926	5,439
Finance lease obligations	27,965	0
Other liabilities	14,240	10,229
Total long-term liabilities	198,282	133,041
Guarantees, commitments and contingencies (Note 6)
Stockholders' equity
Preferred stock, $0.0001 par value, 10,000,000 shares authorized, 0 shares issued and outstanding at June 27, 2026 and September 27, 2025	0	0
Common stock, $0.0001 par value, 100,000,000 shares authorized, 31,676,039 and 31,884,721 shares issued and outstanding at June 27, 2026 and September 27, 2025, respectively	3	3
Additional paid-in capital	342,115	195,466
Retained earnings	313,557	88,193
Accumulated other comprehensive loss (Note 10)	(783)	(28,247)
Total stockholders' equity	654,892	255,415
Total liabilities and stockholders' equity	$ 1,166,520	$ 625,255