AcquisitionsMay 6, 2026, 04:32 PM
Blue Bird Acquires Remaining 50% of Micro Bird Holdings
AI Summary
Blue Bird Corp reported strong financial results for the six months ended March 28, 2026, with net income increasing by 9.7% and diluted EPS by 11.5%. The company also announced a significant strategic move, completing the acquisition of the remaining 50% equity interest in Micro Bird Holdings, Inc. on April 1, 2026, which will lead to full consolidation of Micro Bird's financials in the third quarter of fiscal 2026.
Key Highlights
- Blue Bird acquired the remaining 50% equity interest in Micro Bird Holdings, Inc. on April 1, 2026.
- Net income for the six months ended March 28, 2026, increased 9.7% to $60.1 million.
- Diluted EPS for the six months ended March 28, 2026, rose 11.5% to $1.84.
- Net sales for the six months ended March 28, 2026, grew 1.9% to $685.7 million.
- Cash and cash equivalents increased to $275.9 million as of March 28, 2026, from $229.3 million.
- Net cash provided by operating activities for the six months increased 55.7% to $84.3 million.
- Other current liabilities include $42.8 million deferred income from a large electric school bus order.
- The company repurchased $19.9 million of common stock during the six-month period.