MACON, Ga. - Blue Bird (NASDAQ:BLBD) Corporation (NASDAQ:BLBD), a prominent manufacturer of electric and low-emission school buses, has successfully negotiated a three-year collective bargaining agreement with the United Steelworkers (USW) union. The agreement, which was ratified by an overwhelming majority of USW members, applies to over 1,500 production workers at the company's facility in Fort Valley, Ga.
The ratified collective bargaining agreement is set to enhance Blue Bird's employee offerings, including competitive wages, benefits, and opportunities for career development and skill acquisition. This strategic move is expected to aid in the recruitment and retention of top talent, reinforcing Blue Bird's reputation as a preferred employer in the industry.
Phil Horlock, CEO of Blue Bird Corporation, expressed satisfaction with the ratification process, which he described as collaborative and professional. "We reached an agreement which provides positive outcomes for all parties involved and will continue to drive our One Team, high-performance culture," Horlock stated. He also emphasized the company's commitment to customer service in North America and its growth plans, as well as the anticipation of a strong partnership with USW team members.
Blue Bird prides itself on being the sole U.S.-owned and operated school bus manufacturer in the country, leading the way in electric bus production with over 1,500 zero-emission vehicles currently in service. The company's focus on clean student transportation is also a significant contributor to sustaining approximately 2,000 U.S. jobs.
Since its inception in 1927, Blue Bird has been recognized for its commitment to safety, reliability, and durability in school bus manufacturing. With over 20,000 propane, natural gas, and electric buses in operation, the company continues to lead the shift towards low- and zero-emission student transportation solutions.
This announcement is based on a press release statement from Blue Bird Corporation.
InvestingPro Insights
Blue Bird Corporation (NASDAQ:BLBD) has been making significant strides in the market, as reflected in the company's recent financial metrics. The firm's market capitalization stands at a robust $1.73 billion, indicating a solid position within its industry. With a Price/Earnings (P/E) ratio of 21.34, the company presents itself as a potentially attractive investment when benchmarked against industry standards. Additionally, the Price/Book ratio, as of the last twelve months leading up to Q2 2024, is at 16.37, which may suggest a premium valuation given by the market to Blue Bird's assets and growth prospects.
InvestingPro data also shows a remarkable year-over-year revenue growth of 26.17% in the last twelve months as of Q2 2024, highlighting the company's increasing ability to generate sales. This growth trajectory is complemented by a strong gross profit margin of 17.68%, underscoring Blue Bird's efficiency in managing its production costs relative to its revenues.
An InvestingPro Tip highlights that analysts have revised their earnings expectations upwards for the upcoming period, which could indicate confidence in Blue Bird's financial performance going forward. Moreover, the company's net income is expected to grow this year, reinforcing the optimistic outlook. With 13 additional InvestingPro Tips available, investors can delve deeper into the company's financial health and market potential by visiting https://www.investing.com/pro/BLBD and using the exclusive coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription.
Blue Bird's commitment to innovation and sustainability, as demonstrated by its investment in electric bus technology and a new collective bargaining agreement, seems to be resonating well with the market. These strategic initiatives may continue to support the company's growth and operational success, as evidenced by the positive financial indicators and analyst sentiment.
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