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How Blue Bird (BLBD) makes money

Blue Bird (BLBD) made $517M of revenue in the third quarter fiscal 2026 (Q3 FY26), +30% from a year earlier. Alternative fuel buses brought in $340M (66%); Diesel buses brought in $140M (27%); Parts brought in $24.7M (5%). Of every dollar of revenue, 20¢ was left as gross profit, 12¢ was left as operating profit, 36¢ was left as net earnings.

Drawing the Sankey…

Blue Bird revenue by segment, Q3 FY26Blue Bird revenue by segment, Q3 FY26Alternative fuel buses$340MDiesel buses$140MParts$24.7MOther$13.2M
Blue Bird: revenue by line, Q4 FY24 to Q3 FY26Blue Bird: revenue by line, Q4 FY24 to Q3 FY26Alternative fuel busesDiesel busesPartsOtherAlternative fuel buses: $340M latest$340MDiesel buses: $140M latest$140MParts: $24.7M latestOther: $13.2M latestQ4 FY24Q2 FY25Q3 FY25Q4 FY25Q1 FY26Q2 FY26Q3 FY26
Alternative fuel buses went from 47% of revenue in Q4 FY24 to 66% in Q3 FY26, the largest shift in the mix.
Blue Bird revenue by quarterBlue Bird revenue by quarter$350MQ4 FY24$359MQ2 FY25$398MQ3 FY25$409MQ4 FY25$333MQ1 FY26$353MQ2 FY26$517MQ3 FY26
Blue Bird: where each dollar of revenue goesBlue Bird: where each dollar of revenue goesCost of revenue80¢Gross profit20¢Operating expenses8¢Operating profit12¢Income tax2¢Net earnings36¢Operating cash flow6¢Free cash flow4¢

Revenue by segment, Q3 FY26

SegmentRevenueShareQ/QY/Y
Alternative fuel buses$340M65.6%+127%+45%
Diesel buses$140M27.0%-15%+11%
Parts$24.7M4.8%-8%-1%
Other$13.2M2.5%+22%+4%

Where each dollar of revenue goes

LineQ3 FY26% of revenue
Revenue$517M100.0%
Cost of revenue$414M80.0%
Gross profit$103M20.0%
Operating expenses$40.7M7.9%
Operating profit$62.7M12.1%
Income tax$10.2M2.0%
Net earnings$185M35.8%
Operating cash flow$31.0M6.0%
Free cash flow$21.7M4.2%

Revenue, quarter by quarter

QuarterRevenueY/Y
Q3 FY26$517M+30%
Q2 FY26$353M-2%
Q1 FY26$333M+6%
Q4 FY25$409M+17%
Q3 FY25$398M+19%
Q2 FY25$359M+4%
Q4 FY24$350M+16%

From Blue Bird's 10-Q filed Aug 5, 2026 (on EDGAR).

Questions

How does Blue Bird make money?

Blue Bird (BLBD) made $517M of revenue in the third quarter fiscal 2026 (Q3 FY26), +30% from a year earlier. Alternative fuel buses brought in $340M (66%); Diesel buses brought in $140M (27%); Parts brought in $24.7M (5%). Of every dollar of revenue, 20¢ was left as gross profit, 12¢ was left as operating profit, 36¢ was left as net earnings.

What is Blue Bird's biggest business?

Alternative fuel buses: $340M in the third quarter fiscal 2026, 66% of revenue, +45% from a year earlier.

What is Blue Bird's profit margin?

Net earnings were $185M, 35.8% of revenue, in the third quarter fiscal 2026; the operating margin was 12.1%.

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Updated Nov 8, 2026. Read automatically from SEC filings and public data; errors are possible. Not investment advice.