Blue Bird (BLBD) Investor presentation summary

Investment highlights

• Strong industry growth expected, supported by healthy funding and an aging school bus fleet.

• Leading position in alternative power and electric school buses, with over 60% of sales non-diesel.

• Beneficiary of federal and state subsidies for school bus electrification.

• Expanded total addressable market through commercial chassis offerings and Micro Bird acquisition.

• Structural cost reductions and EBITDA margins targeted at ~14% in 2026 and 15%+ long-term.

Industry overview

• Over 500,000 school buses operate in the U.S. and Canada, transporting 26 million children daily.

• Industry size averages 30,500 new units annually, with a total fleet of ~552,000 and average age of 11 years.

• 45% of the fleet is 11 years or older, supporting high annual replacement demand.

• Demand is driven by increasing school-age population, aging fleet, and federal funding for clean buses.

• Property taxes are the primary funding source, with volume tracking housing prices.

Company and product highlights

• Headquartered in Macon, Georgia, with a strategic manufacturing footprint across North America.

• Offers the most expansive range of school buses (10–90 passengers) with multiple fuel options, including electric.

• Micro Bird acquisition adds commercial shuttle buses and expands growth opportunities.

• Leadership in clean technologies, with more than 60% of unit sales non-diesel and a strong position in electric and propane buses.

• Launched Blue Bird Energy Services and Clean Bus Solutions JV for turnkey charging infrastructure.