Market Overview

Blue Bird Cancels Order With Adomani


Adomani (NASDAQ: ADOM) said Wednesday orders placed in April exceeding $6.4 million were canceled by Blue Bird due to Adomani's supplier Cummins (NYSE: CMI) inability to meet delivery schedules. Adomani provides zero-emission and hybrid vehicle drivetrain transport and purpose-built electric vehicles.

In addition to the Blue Bird order cancellation, a school district that had ordered three all-electric school buses from Adomani in September 2017 has also canceled its order for approximately $1.0 million.

ADOMANI reports a net decrease in backlog from $18.9 million as of April 30 to $10.7 million as of June 30.

"As we have mentioned a number of times in recent months, we have been working on our supplier issues, and have made progress with them, but not quickly enough,” said Jim Reynolds, CEO of Adomani. “We are extremely disappointed by these cancellations after extensive discussions/negotiations, but remain very excited about the potential growth from our diversified product offerings of trucks, vans, chassis, NEVs and e-trikes that lie ahead of us."

Adomani shares traded lower by 4.4% to 28 cents per share at time of publication.

Posted-In: News Penny Stocks Contracts Markets


Related Articles (CMI + ADOM)

View Comments and Join the Discussion!
Fastest Market News Application
You'll Hear It First On Pro
Don't Miss Any Updates!
News Directly in Your Inbox
Subscribe to:
Benzinga Trading Daily
Get pre-market outlook, mid-day update and after-market roundup emails in your inbox.
Market in 5 Minutes
Everything you need to know about the market - quick & easy.
Daily Analyst Rating
A summary of each day’s top rating changes from sell-side analysts on the street.
Thank You

Thank you for subscribing! If you have any questions feel free to call us at 1-877-440-ZING or email us at

FDA Places Unum's Early Stage Cancer Drug Trial On Clinical Hold

Drugs At Sea – More Coke Plus More Ships Equals More Problems