Why Blue Bird Stock Is Up Today
School bus manufacturer Blue Bird (NASDAQ: BLBD) reported quarterly results that came in ahead of expectations, and raised its guidance for the year. The company's turnaround appears to be ahead of schedule, and investors reacted by sending shares up as much as 40% on Friday morning.
Blue Bird makes most of the buses that get about 25 million U.S. children to school every day, but the stock has received a failing grade through much of the last three years. Blue Bird shares lost nearly 75% of their value from the start of 2021 to the end of last year due to sluggish operating results.
That appears to now be in the past. Blue Bird earned $0.22 per share in its fiscal second quarter (ending April 1) on revenue of $299.8 million, easily surpassing expectations for $0.08 per share in earnings on sales of $249.5 million.
Source Fool.com
