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E BLUE BIRD BLUE BIRD REPORTS FISCAL 2021 SECOND QUARTER RESULTS ; FOCUSED ON MARGIN EXPANSION , EV GROWTH AND INDUSTRY RECOVERY ; FISCAL 2021 GUIDANCE REAFFIRMED Net Sales of $ 164.7M and GAAP Net Loss of $ 0.6M Bus Average Selling Price up 9.7 % Electric Bus Sales up 50 % Adjusted EBITDA of $ 7.5M in Second Lowest - Volume Quarter with 1,489 Buses Sold Macon , GA , May 12 , 2021 - Blue Bird Corporation ( " Blue Bird " ) ( Nasdaq : BLBD ) , the leading independent designer and manufacturer of school buses , announced today its fiscal 2021 second quarter results . GAAP net loss for the quarter of $ 0.6 million was equal to the comparable FY2020 fiscal period . Adjusted EBITDA for the quarter was $ 7.5 million , $ 4.7 million below last year , reflecting 1,105 lower unit sales resulting from the pandemic impact on schools . Highlights ( in millions except Unit Sales and EPS data ) Unit Sales GAAP Measures : Revenue Net Loss Diluted Loss per Share Non - GAAP Measures¹ : Adjusted EBITDA Adjusted Net Income Adjusted Diluted Earnings per Share 1 Reconciliation to relevant GAAP metrics shown below Three Months Ended April 3 , 2021 1,489 B / ( W ) 2020 ( 1,105 ) Six Months Ended April 3 , 2021 2,744 B / ( W ) 2020 ( 1,310 ) SA SASA $ 164.7 $ ( 90.7 ) $ $ $ ( 0.6 ) $ ( 0.02 ) $ SA SASA $ $ 295.1 $ ( 2.2 ) $ ( 0.08 ) $ ( 113.5 ) ( 1.2 ) ( 0.04 ) $ SA SA SA $ 7.5 $ 1.4 $ $ 0.05 $ ( 4.7 ) $ ( 1.1 ) $ ( 0.04 ) $ 13.3 $ ( 7.0 ) 1.4 $ ( 3.1 ) 0.05 $ ( 0.12 ) " We are very pleased with our second quarter performance and results , " said Phil Horlock , President and Chief Executive Officer of Blue Bird Corporation . " The Blue Bird team executed well despite the pandemic resulting in the majority of schools operating in virtual or hybrid mode for most of the second quarter and supply chain issues creating inefficiencies in our manufacturing operations ; nevertheless , we increased our gross margin by 1.7 pts . compared with last year , despite a 43 % drop in unit sales . We are increasingly confident in schools fully reopening for in - classroom teaching as we head toward the next school year , supported by progressively higher quote and order rate activity during the quarter and our firm - order backlog , which is now 15 % above the prior - year quarter . " As we move toward a school - bus industry recovery beginning in the second half of our fiscal year , I am encouraged with our progress in improving our underlying business structure , which is key to achieving our near - term EBITDA margin target of at least 10 % . We increased our second quarter average selling price per bus by $ 8,900 , or 9.7 % , over last year . We realized manufacturing efficiency improvements , despite the supplier disruptions we experienced , and benefited from lower operating expenses as a result of cost control actions that we implemented last year . Our alternative - powered bus sales mix was 43 % in the quarter , slightly below prior year . This decline was entirely driven by the March launch timing of our all - new and exclusive Ford and Roush CleanTech propane and gasoline engines . We expect full - year alternative power sales mix to exceed 50 % of total sales , supported by a very strong order 1