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BROOKFIELD, Wis. -On Wednesday, REV Group, Inc. (NYSE:REVG), the specialty vehicle manufacturer, reported better-than-expected first quarter results and reaffirmed its full-year guidance.
The company saw its shares jump 7.51% in premarket trading following the release.
The company posted adjusted earnings per share of $0.40, surpassing analyst estimates of $0.28. Revenue came in at $525.1 million, topping the consensus forecast of $503.12 million.
REV Group’s first quarter net sales decreased to $525.1 million from $586.0 million in the prior year quarter. However, excluding the impact of divested bus manufacturing businesses, net sales increased 3.1% YoY.
The company reported record first quarter adjusted EBITDA of $36.8 million, up from $30.5 million last year. Excluding the bus businesses, adjusted EBITDA rose 78.6% YoY.
"We are pleased to have delivered record first quarter results, demonstrating the strength of our operational execution and disciplined approach," said REV Group President and CEO Mark Skonieczny.
The company reaffirmed its fiscal 2025 guidance provided in December. REV Group also repurchased approximately 0.6 million shares for $19.2 million during the quarter.
Looking ahead, REV Group said it remains focused on driving continued growth and creating long-term shareholder value.
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