Blue Bird Corporation (NASDAQ: BLBD) reported Q4 EPS of $0.74, $0.07 worse than the analyst estimate of $0.81. Revenue for the quarter came in at $343.5 million versus the consensus estimate of $331.7 million.

GUIDANCE:

Blue Bird Corporation sees FY2020 revenue of $1.02-1.05 billion, versus the consensus of $1.03 billion.

• "We are very pleased with both our fourth quarter and full year performance, breaking 10+ year records for profits in both time periods," said Phil Horlock, President and Chief Executive Officer of Blue Bird Corporation. “The annual bus pricing implemented in late fiscal 2018 to offset rapidly-increasing commodity costs, and a record 48% mix of alternative-fueled bus sales, contributed to an increase in net revenue per bus of nearly $4,000 in the full year. We also achieved significant structural cost reductions from the Transformational Initiatives program that we started last year. We expect continued gains through FY2020 and beyond from the continued focus on the ongoing implementation of these plans. We are pleased to announce increased net revenue and profit outlook for FY2020 with full-year revenue guidance at $1,020- $1,050 million and Adjusted EBITDA guidance at $90 - $95 million.
• "We are focused on delivering differentiated and innovative products that customers want and value, as demonstrated by our continued growth in alternative-fueled bus sales. I am particularly pleased with our Propane success in FY2019, where, seven years after we launched this product, our sales grew by more than 40% over last year. With the industry's broadest range of alternative-fueled school buses, offered at the lowest-emission levels, we are the clear product and sales leader in the fastest growing segment of the business.
• "While making investments in our production facility through FY2020 to drive productivity and quality, we will continue to generate positive cash flow with Adjusted Free Cash Flow guidance at $30 - $35 million."

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