Blue Bird Corporation, a prominent American school bus manufacturer, reached a significant milestone last week by delivering its 2,000th electric school bus. The recipient of this eco-friendly vehicle is the Clark County School District (CCSD) in Nevada, demonstrating a growing trend towards sustainable transportation solutions in the education sector.
This new electric school bus, capable of carrying 84 students, boasts a range of up to 150 miles on a single charge and can be fully recharged within three to eight hours. Its acquisition was made possible by a generous $9.875 million grant awarded to CCSD from the U.S. Environmental Protection Agency’s (EPA) Clean School Bus Program. This program is specifically designed to encourage the adoption of zero-emission school buses nationwide.
Britton Smith, president of Blue Bird Corporation, expressed enthusiasm for this achievement, stating, “Local, state, and federal funding for clean school buses remains at an historic high. Above all, we applaud the EPA’s Clean School Bus Program for accelerating the adoption of zero-emission student transportation nationwide and for helping to usher in an unprecedented era of technology innovation.”
The impact of Blue Bird’s commitment to electric school buses is evident in its growing presence across the United States and Canada. Currently, its electric buses serve school districts in 41 U.S. states and four Canadian provinces, having already covered over five million miles. This impressive achievement signifies a major shift towards sustainable transportation in the education sector.
Furthermore, Blue Bird is demonstrating its commitment to expanding its production capacity to meet the increasing demand for electric school buses. The company aims to produce over 5,000 electric school buses annually in the future. This ambitious target reflects the growing popularity and acceptance of electric vehicles in the school transportation industry.
The company’s financial performance also reflects its success in this market. During the three months ending in June, Blue Bird reported net sales of $333.4 million, a 13.3% increase compared to the same period last year. Additionally, the company achieved an adjusted EBITDA of $48.2 million, showcasing an impressive $18.6 million increase from the previous year.
While many electric vehicle (EV) stocks have experienced a downturn this year, including prominent players like Tesla, Blue Bird shares have exhibited a remarkable upward trend. As of Friday’s closing, the company’s stock price reached $51.18, representing a substantial year-to-date growth of approximately 95%. This positive performance underscores the market’s confidence in Blue Bird’s commitment to sustainable transportation and its ability to capitalize on the growing demand for electric school buses.
