Blue Bird Corporation (NASDAQ:BLBD) Q2 2024 Results Conference Call May 8, 2024 4:30 PM ET

Company Participants

Mark Benfield - IR
Phil Horlock - CEO
Razvan Radulescu - CFO

Conference Call Participants

Eric Stine - Craig-Hallum
Mike Shlisky - D.A. Davidson
Chris Pierce - Needham

Operator

Hello and welcome to the Blue Bird Corporation Fiscal 2024 Second Quarter Earning Call. My name is Natasha, and I will be your moderator for today. [Operator Instructions]

I now have the pleasure of handing you over to your host, Mark Benfield. Mark, please go ahead.

Mark Benfield

Thank you, and welcome to Blue Bird's fiscal 2024 second quarter earnings conference call. The audio for our call is webcast live on blue-bird.com under the Investor Relations tab. You can access the supporting slides on our website by clicking on the presentations box on our IR landing page.

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 our filings with the SEC. Blue Bird disclaims any obligation to update the information in this call.

This afternoon, you will hear from Blue Bird CEO, Phil Horlock; and CFO, Razvan Radulescu. Then we'll take some questions. Let's get started. Phil?

Phil Horlock

Thanks, Mark, and good afternoon, everybody. It's great to be here and to share with you our results for our fiscal 2024 second quarter. You recall that our first quarter earnings call, we reported an all-time record profit for a quarter. Well, I'm pleased to tell you that our momentum has not slowed down at all with the Blue Bird team doing a great job in delivering an all-time record profit for any second quarter in our history and our second-best quarter ever after the last quarter. Razvan will be taking us through the details of our financial results shortly. So let me get started with the key takeaways for the second quarter on slide six.

As a headline says, we achieved best ever financial results for second quarter only surpassed by our 2024 first quarter profit performance. As shown in the first line in the box, while we achieved a second quarter record for adjusted EBITDA, our net sales revenue was a record for any quarter. So with record profits and record revenue, I'm very pleased to tell you that we achieved an outstanding adjusted EBITDA margin of 13% in the second quarter. And importantly, we are once again increasing our full year guidance.