BLBD Stock Recent News

Despite industry challenges, domestic auto stocks like General Motors (GM) and Blue Bird (BLBD) are worth watching, given their strong fundamentals.

BLBD continues to enjoy robust prospects, with the pent-up demand for school bus replacements flowing to its growing backlog at higher ASPs. This has led to the management's raised FY2024 guidance and promising FY2027 projections, with it implying a 4Y profitable growth outlook. Its investment thesis is significantly aided by the richer profit margins and healthier balance sheet.

Blue Bird Stock suffered a 30% decline, likely due to panic selling and profit-taking after hitting highs in June 2024. Blue Bird's recent earnings release corroborates its bullish thesis, as it upgraded its guidance. BLBD is still cheap, even though it boasts a solid growth profile.

Global electric car sales June 2024 up 15% YoY to 22% share. China sales up 23% to 49.9% share. Europe down 5% to 22% share. USA down 3.8% to 9.10%. EV market news - EU puts tariffs on China EVs. China doubles cash subsidies to replace ICE cars. U.S. EV sales reach new record in Q2 2024, up 11.3% YoY. EV company news - Tesla delays robotaxi event to October. JPMorgan hikes BYD's PT by more than 80% on outlook (to HKD 475). Volvo June electric car sales up 41%.

Blue Bird Corporation (NASDAQ:BLBD ) Q3 2024 Earnings Conference Call August 7, 2024 4:30 PM ET Company Participants Mark Benfield - IR Phil Horlock - CEO Razvan Radulescu - CFO Conference Call Participants Mike Shlisky - D. A. Davidson.

Blue Bird (BLBD) came out with quarterly earnings of $0.91 per share, beating the Zacks Consensus Estimate of $0.50 per share. This compares to earnings of $0.44 per share a year ago.

Industrial stocks are vital to daily operations. Many investors are drawn to these companies due to their inherent need, whether it's a period of strong economic growth or an overall downturn.

Blue Bird Corporation BLBD is slated to release fiscal third-quarter 2024 results on Aug 7, after market close. The Zacks Consensus Estimate for the to-be-reported quarter's earnings is 50 cents a share on revenues of $330 million.

In the latest trading session, Blue Bird (BLBD) closed at $52.12, marking a +1.46% move from the previous day.

Investors often turn to recommendations made by Wall Street analysts before making a Buy, Sell, or Hold decision about a stock. While media reports about rating changes by these brokerage-firm employed (or sell-side) analysts often affect a stock's price, do they really matter?