Blue Bird Corp (NASDAQ:BLBD) stock 4.26% (As on Dec 16, 12:54:50 AM UTC-4, Source: Google Finance) after the company missed the earnings estimates. The results of FY2021 are characterized by a first half with soft demand and a second half fraught with supply chain disruptions when order volume recovered. However, there is clear evidence of exciting longer-term trends in demand. Order backlog is strong at more than 4,200 buses, filling production slots through the first half of FY2022. The interest in electric buses continues to grow, with more than 550 buses sold or in the backlog in fiscal 2021. In fact, total units sold and in backlog since the company began production three years ago is more than 750 electric buses, covering Type A, C and D configurations. With the growth rate the company is seeing, and the breadth of chassis and powertrain choices that the company offer, the company js increasing its focus and resources in the EV business. The company is very pleased that the recently-passed infrastructure bill will rapidly accelerate adoption of EV school buses, with $5 billion dollars of funding for clean school buses.

BLBD in the fourth quarter of FY 21 has reported the adjusted earnings per share of 7 cents, missing the analysts’ estimates for the adjusted earnings per share of 15 cents. The company had reported the adjusted net sales of $192.2 million for the fourth quarter of fiscal 2021, a decrease of $89.2 million, or 31.7%, from prior year period. Bus unit sales were 1,911 units for the quarter compared with 2,876 units for the same period last year. The company delivered fourth quarter gross profit of $13.0 million represented a decrease of $16.6 million from the fourth quarter of last year. Gross profit margin declined 3.7 points to 6.8%. The company has reported adjusted Net Income of $2.0 million, representing a decrease of $11.3 million compared with the same period last year. Adjusted EBITDA was $7.6 million, which was a decrease of $14.3 million compared with the fourth quarter last year. Supply disruptions resulted in moving more than 2,000 bookings out of the fiscal year and caused substantial operating cost increases.

Blue Bird expects full-year revenue to be in the range of $750 million to $850 million, Adjusted EBITDA of to be in the range of $30 million – $50 million and Adjusted Free Cash Flow to be in the range of $35 million – $55 million.