But on social media, critics noted that other coverage of the air strike in the United States and Britain-which also supports the coalition-failed to acknowledge the countries' involvement in the war.
The bus was struck as it was driving through a market in the rebel-held province of Saada, according to the Houthi-run Al-Masirah TV.
A military coalition led by Saudi Arabia has been carrying out airstrikes since 2015 against Houthi positions - causing thousands of civilian deaths in the process, according to war monitors - in an attempt to restore the internationally-recognized government of President Abdrabbuh Mansur Hadi.
Video footage, which CBS News can't independently verify, appear to show the devastating aftermath.
"Scores killed, even more injured, most under the age of 10", Johannes Bruwer, head of delegation for the ICRC in Yemen, said in a further Twitter post.
The missile was sacked from Amran province in northern Yemen on Wednesday night, the coalition said in a statement published by the Saudi Press Agency.
"We are trying to get rid of the arms manifestations in the province, and to carry on the efforts exerted by the UAE to counter the terrorism groups in Yemen", Col Mohammed Salem Al Buhar, commander of the elite forces in Shabwa, told The National.
Coalition spokesman Maliki confirmed the strike had hit a bus, telling AFP "the elements inside the bus were Houthi combatants".
The children were traveling on a school bus that was hit by a Saudi coalition airstrike in Dahyan, the BBC reported.
Saudi Arabia shot down a missile fired by the Huthis on Wednesday, with debris killing a Yemeni man and wounding 11 others, the coalition said.
He said the leaders and militants responsible for launching ballistic missiles and targeting civilians would be held accountable as part of the coalition's efforts to prevent terrorist elements from compromising regional and global security.
The United Nations has repeatedly criticized the actions of the coalition.
The Houthis have in recent months ramped up missile attacks against Saudi Arabia, which Riyadh usually says it intercepts.
The tragic incident has prompted the ICRC to once again call for the protection of civilians during conflicts.
According to Al Jazeera, the Saudi coalition claimed it had targeted "missile launchers", but Yemen-based reporters who have witnessed numerous attacks in civilian-populated areas vigorously disputed the claim.
A State Department spokeswoman expressed concern over the airstrike, and called for the Saudi-led coalition to investigate.
"It is beyond cruel; innocent children's lives have been lost".
So far, almost 10,000 people have died in the war in Yemen, which has unleashed what the United Nations describes as the world's worst humanitarian crisis.
The fight for the port of Hodeida, a key lifeline for supplies and aid for Yemen's population on the brink of starvation, has become the latest battleground in the devastating war.