Blue Bird Corp. Files 10-Q for Period Ending December 30, 2023

Ticker: BLBD · Form: 10-Q · Filed: Feb 7, 2024 · CIK: 1589526

Complexity: simple

Sentiment: neutral

Topics: 10-Q, Blue Bird Corp, Financials, Quarterly Report, SEC Filing

TL;DR

<b>Blue Bird Corp. filed its Q1 2024 10-Q, detailing financial positions as of December 30, 2023.</b>

AI Summary

Blue Bird Corp (BLBD) filed a Quarterly Report (10-Q) with the SEC on February 7, 2024. Blue Bird Corp. filed a 10-Q report for the period ending December 30, 2023. The filing covers the first quarter of fiscal year 2024. The company's principal business is manufacturing truck and bus bodies. The filing includes financial data for the periods ending December 30, 2023, and December 31, 2022. Key financial statement members such as Common Stock, Additional Paid-In Capital, and Retained Earnings are detailed for these periods.

Why It Matters

For investors and stakeholders tracking Blue Bird Corp, this filing contains several important signals. This 10-Q filing provides investors with the latest quarterly financial performance and position of Blue Bird Corp., crucial for assessing operational health and investment potential. The detailed financial statements and disclosures within the 10-Q allow stakeholders to understand the company's financial health, debt structure, and equity changes over the reported period.

Risk Assessment

Risk Level: medium — Blue Bird Corp shows moderate risk based on this filing. The company's financial health and operational performance are subject to market conditions and the specifics of its debt agreements, as indicated by the mention of credit agreements and medium-term notes.

Analyst Insight

Review the detailed financial statements within the 10-Q to understand Blue Bird Corp.'s revenue, expenses, and debt levels for the quarter ending December 30, 2023.

Key Numbers

Key Players & Entities

FAQ

When did Blue Bird Corp file this 10-Q?

Blue Bird Corp filed this Quarterly Report (10-Q) with the SEC on February 7, 2024.

What is a 10-Q filing?

A 10-Q is a quarterly financial report with unaudited financials, management discussion, and interim business updates. This particular 10-Q was filed by Blue Bird Corp (BLBD).

Where can I read the original 10-Q filing from Blue Bird Corp?

You can access the original filing directly on the SEC's EDGAR system. The filing is publicly available and includes all exhibits and attachments submitted by Blue Bird Corp.

What are the key takeaways from Blue Bird Corp's 10-Q?

Blue Bird Corp filed this 10-Q on February 7, 2024. Key takeaways: Blue Bird Corp. filed a 10-Q report for the period ending December 30, 2023.. The filing covers the first quarter of fiscal year 2024.. The company's principal business is manufacturing truck and bus bodies..

Is Blue Bird Corp a risky investment based on this filing?

Based on this 10-Q, Blue Bird Corp presents a moderate-risk profile. The company's financial health and operational performance are subject to market conditions and the specifics of its debt agreements, as indicated by the mention of credit agreements and medium-term notes.

What should investors do after reading Blue Bird Corp's 10-Q?

Review the detailed financial statements within the 10-Q to understand Blue Bird Corp.'s revenue, expenses, and debt levels for the quarter ending December 30, 2023. The overall sentiment from this filing is neutral.

Key Dates

Glossary

10-Q
A quarterly report required by the U.S. Securities and Exchange Commission (SEC). (Provides investors with a timely update on the company's financial condition between annual reports.)
Common Stock
A security that represents ownership in a corporation. (Key component of the company's equity structure detailed in the balance sheet.)
Additional Paid-In Capital
The amount of money a company receives from selling stock above its par value. (Reflects capital contributions from shareholders beyond the nominal stock value.)
Retained Earnings
The cumulative amount of net income that a company has retained over time. (Indicates the company's profitability and its ability to reinvest earnings back into the business.)

Filing Stats: 4,613 words · 18 min read · ~15 pages · Grade level 17.3 · Accepted 2024-02-07 16:33:53

Key Financial Figures

Filing Documents

– FINANCIAL INFORMATION

PART I – FINANCIAL INFORMATION 2

Financial Statements (Unaudited)

Item 1. Financial Statements (Unaudited) 2 Condensed Consolidated Balance Sheets 2 Condensed Consolidated Statements of Operations 3 Condensed Consolidated Statements of Comprehensive Income (Loss ) 4 Condensed Consolidated Statements of Cash Flows 5 Condensed Consolidated Statements of Stockholders' Equity (De ficit) 7 Notes to Condensed Consolidated Financial Statements 8

Management's Discussion and Analysis of Financial Condition and Results of Operations

Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations. 18

Quantitative and Qualitative Disclosures About Market Risk

Item 3. Quantitative and Qualitative Disclosures About Market Risk. 30

Controls and Procedures

Item 4. Controls and Procedures. 30

– OTHER INFORMATION

PART II – OTHER INFORMATION 31

Legal Proceedings

Item 1. Legal Proceedings. 31

Risk Factors

Item 1A. Risk Factors. 31

Other Information

Item 5. Other Information. 31

Exhibits

Item 6. Exhibits . 32

– FINANCIAL INFORMATION

PART I – FINANCIAL INFORMATION

Financial Statements (Unaudited)

Item 1. Financial Statements (Unaudited) BLUE BIRD CORPORATION AND SUBSIDIARIES CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) (in thousands of dollars, except for share data) December 30, 2023 September 30, 2023 Assets Current assets Cash and cash equivalents $ 77,296 $ 78,988 Accounts receivable, net 11,107 12,574 Inventories 142,457 135,286 Other current assets 12,485 9,215 Total current assets $ 243,345 $ 236,063 Property, plant and equipment, net $ 95,563 $ 95,101 Goodwill 18,825 18,825 Intangible assets, net 44,956 45,424 Equity investment in affiliate 24,007 17,619 Deferred tax assets 1,001 2,182 Finance lease right-of-use assets 858 1,034 Other assets 2,723 1,518 Total assets $ 431,278 $ 417,766 Liabilities and Stockholders' Equity Current liabilities Accounts payable $ 113,911 $ 137,140 Warranty 6,601 6,711 Accrued expenses 32,454 32,894 Deferred warranty income 8,351 8,101 Finance lease obligations 980 583 Other current liabilities 20,500 24,391 Current portion of long-term debt 5,000 19,800 Total current liabilities $ 187,797 $ 229,620 Long-term liabilities Revolving credit facility $ 36,220 $ — Long-term debt 93,486 110,544 Warranty 8,682 8,723 Deferred warranty income 15,767 15,022 Deferred tax liabilities 2,516 2,513 Finance lease obligations 445 987 Other liabilities 8,522 7,955 Pension 2,266 2,404 Total long-term liabilities $ 167,904 $ 148,148 Guarantees, commitments and contingencies (Note 6) Stockholders' equity Preferred stock, $ 0.0001 par value, 10,000,000 shares authorized, 0 shares outstanding at December 30, 2023 and September 30, 2023 $ — $ — Common stock, $ 0.0001 par value, 100,000,000 shares authorized, 32,198,592 and 32,165,225 shares outstanding at December 30, 2023 and September 30, 2023, respectively 3 3 Additional paid-in capital 187,159 177,861 Accumulated deficit ( 29,550 ) ( 55,700 ) Accumulated other comprehensive loss ( 31,753 ) ( 31,884 ) Treasury stock, at cost, 1,782,568

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