Blue Bird Delivers Strong Fiscal 2017 Third Quarter; Authorizes Capital Stock Repurchase Program

Unit Sales up 2%, Net Income up $23.0 million and Adjusted EBITDA down $0.3 million

Full Year Net Sales guidance narrowed; Adjusted EBITDA and Adjusted Free Cash Flow guidance lowered

FORT VALLEY, Ga.-- Blue Bird Corporation (BLBD) (Blue Bird), the leading independent designer and manufacturer of school buses, announced today its fiscal 2017 third quarter results and the authorization by its Board of Directors of a capital stock repurchase program.

Trans Tech, National Bus Sales Multi-State Dealership Agreement

NEW YORK – Trans Tech announced today that it has reached an agreement with National Bus Sales, Inc. to be their dealer for sales and service of its full-line of Type-A school buses in seven states, including Colorado, Florida, Georgia, Kansas, Oklahoma, Ohio and Washington.  Trans Tech continues to expand its market across the United States and Canada by growing its dealer network and bringing customer-inspired innovation to its industry-leading Type-A school buses.

GM Reports Strong Net Income, Up 33.5 Percent to $2.6 Billion

GM agreed to sell its Opel/Vauxhall subsidiary and GM Financial’s European operations to PSA Group to support the company’s focus on higher-return opportunities. Once closed, the transaction will immediately improve GM’s EBIT- adjusted and adjusted automotive free cash flow. It also will allow the company to lower its cash balance by $2 billion, which it plans to use to accelerate share buybacks, subject to market conditions. In connection with the transaction, GM will take a primarily non-cash special charge of approximately $4.5 billion.