Blue Bird Corporation (NASDAQ:BLBD) Q4 2023 Earnings Conference Call December 11, 2023 4:30 PM ET
Company Participants
Mark Benfield - Head of Invest Relations
Phil Horlock - Chief Executive Officer
Razvan Radulescu - Chief Financial Officer
Conference Call Participants
Eric Stine - Craig-Hallum
Mike Shlisky - D.A. Davidson
Craig Irwin - ROTH MKM
Operator
Hello, everyone. Thank you for attending Blue Bird Corporation's Fiscal 2023 Fourth Quarter and Full Year Earnings Call. My name is Sierra, and I'll be your moderator today. All lines will be muted during the prepared remarks from our management team with an opportunity for questions-and-answers at the end. [Operator Instructions]
I would now like to pass the conference over to our host, Mark Benfield, Head of Invest Relations. Please proceed.
Mark Benfield
Thank you, and welcome to Blue Bird's fiscal 2023 fourth quarter and full year earnings conference call. The audio for our call is webcast live on blue-bird.com under the Investor Relations tab. You can access supporting slides on our website by clicking on the presentation box on the IR website.
Our comments today include forward-looking statements that are subject to risks that could cause actual results to be materially different. Those risks include, among others, matters we have noted on the following two slides and in our filings with the SEC. Blue Bird disclaims any obligation to update the information in this call.
This afternoon, you'll hear from Blue Bird CEO, Phil Horlock, and CFO, Razvan Radulescu. Then, we'll take some questions.
Let's get started. Phil?
Phil Horlock
Well, thank you, Mark, and good afternoon, everybody.
First, let me say the Blue Bird team has done a fantastic job in delivering continually approved results as we have moved through each quarter in 2023. As you'll see shortly in Razvan's section, the fourth quarter was no exception to that, where we achieved outstanding financial performance. For the full year, we delivered record financial results across the board, well ahead of the transformational plan that we outlined just a year ago, following a very tough year in fiscal 2022.
So, let's get started with the key takeaways for the full year on Slide 6. As the headline says, we achieved record full-year financial results in fiscal 2023, and we beat guidance every quarter, including the fourth quarter. In fact, as Razvan will show you in just a few minutes, the fourth quarter was an all-time record profit for any quarter in Blue Bird's history with an exceptional adjusted EBITDA margin of 13%.