Blue Bird (NASDAQ: BLBD) is making more money selling school buses than expected, and investors are taking notice. Shares of the transportation company surged 26% Thursday after a strong earnings report.

Blue Bird is a nearly 100-year-old maker of school buses with more than 20,000 vehicles currently on the road.

The company earned $0.89 per share in its fiscal second quarter ending March 30 on revenue of $345.9 million, easily topping Wall Street's forecast for $0.48 per share on sales of $300 million. Revenue was up 15% and net income was up 37% year over year to $26 million despite the company selling 50 fewer units in the quarter.

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Source Fool.com