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Extra Everything: The Story of Chipotle
Chipotle's story from a single restaurant to a nationwide chain, through crisis and turnaround, built on one of the strongest models in the industry.
Blue Bird
Blue Bird (BLBD) investor relations material
Blue Bird Q2 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q2 2026 earnings summary6 May, 2026
Executive summary
Achieved record Q2 FY2026 results with net sales of $353 million, adjusted EBITDA of $51 million (14.4% margin), and net income of $29.3 million, driven by strong pricing, alternative power leadership, and lower SG&A expenses.
Sold 2,148 buses in Q2, including 201 electric buses, with over 900 EVs in the order backlog.
Completed acquisition of the remaining 50% of Micro Bird JV for $201.8 million, expanding product portfolio, addressable market, and integrating 950 employees.
Free cash flow for Q2 was $40 million, liquidity reached $418 million, and cash balance at quarter-end was $276 million.
Announced $80 million DOE MESC grant and $300 million+ investment in a new plant focused on Type C buses and automation.
Financial highlights
Q2 revenue was $353 million, down $6 million year-over-year due to lower volumes; adjusted EBITDA was $51 million (14.4% margin), up $1.6 million year-over-year.
Adjusted net income for Q2 was $32.5 million, up $1 million; adjusted diluted EPS was $1.00, up $0.04 year-over-year.
Free cash flow for Q2 was $40 million, $21 million higher than prior year; six-month free cash flow was $71 million.
Gross margin for Q2 was 20.0%, up 30 bps year-over-year; operating margin was 11.1%, up from 9.4%.
Cash and equivalents at quarter-end were $275.9 million; total debt was $92.98 million.
Outlook and guidance
FY2026 guidance raised: net revenue expected at $1.725–$1.775 billion, adjusted EBITDA at $245 million (range $235–$255 million), and adjusted free cash flow at $100–$125 million.
Long-term outlook targets $2.5 billion+ revenue and $375 million+ adjusted EBITDA (14–15%+ margin).
Backlog increased to 3,560 units, including over 900 electric units, reflecting strong demand and improved order flow.
Management expects continued positive impact from government grants for alternative power buses.
Ongoing supply chain and tariff risks could impact future results if not mitigated by pricing actions.
Micro Bird commercial shuttle market strategy
Fort Valley plant automation and cost benefits
Impact of healthcare costs on EBITDA margins
Tariff impact on procurement and pricing
Production calendar impact on Q2 unit volume
Micro Bird entry into Buy America shuttle market
Compare Tennessee and NC store ramp speeds
Strategy against Canadian not-for-profit rivals
AI applications for inventory and pricing
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Latest events from Blue Bird
- Acquisition boosts scale, product breadth, and EPS, targeting $2.5B revenue and 15%+ EBITDA margin.BLBD
M&A Announcement Presentation17 Feb 2026 - FY2026 guidance raised with record margins, strong EV demand, and a $100M buyback program.BLBDInvestor presentation6 Feb 2026
- Record Q1 sales and margins led to a raised FY2026 outlook and strong EV demand.BLBDQ1 20264 Feb 2026
- Record Q3 profit, raised outlook, and strong EV demand drive robust growth despite supply challenges.BLBDQ3 20242 Feb 2026
- Record sales and margins in FY2025, with strong growth and EV leadership continuing into FY2026.BLBDInvestor presentation28 Jan 2026
- Shareholders will vote on director elections, equity plan changes, officer liability, pay, and auditor ratification.BLBDProxy Filing26 Jan 2026
- Key votes include director elections, equity plan, officer liability limits, and auditor ratification.BLBDProxy Filing26 Jan 2026
- Key votes include director elections, equity plan expansion, and officer liability limits.BLBDProxy Filing15 Jan 2026
- Record-breaking year with doubled EBITDA, strong EV growth, and raised 2025 guidance.BLBDQ4 202412 Jan 2026
Next Blue Bird earnings date
Q3 20265 Aug, 2026
Blue Bird
Next Blue Bird earnings date
Q3 20265 Aug, 2026
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Leroy DaleyApp Store
One of the very few apps you could call perfect. If something was to add to it, maybe the share price of the company when you search for it, but it's already excellent.
Eferix Drawings Google Play
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@ankurshah47_ x.com
Love the app! Quartr makes it really easy to keep track of earnings calls. It also includes the reports and slides to make it easier to follow along.
Amina0781App Store
Quartr is amazing, no way around it. It is the best right now for earnings calls, presentations, and the like.
@theshortbearx.com
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