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BROOKFIELD, Wis. - REV Group, Inc. (NYSE:REVG) reported better-than-expected second quarter results and raised its full-year outlook on Wednesday.
The specialty vehicle manufacturer saw its shares jump 2.47% in pre-market trading after the earnings release.
The company posted adjusted earnings per share of $0.70, surpassing analyst estimates of $0.55. Revenue came in at $629.1 million, topping expectations of $603.5 million and rising 2% YoY.
"We are pleased that the second quarter’s performance continued to build upon our recent achievements," said REV Group CEO Mark Skonieczny. "The standout this quarter was the sustained year-over-year increase in manufacturing throughput within the fire group, which played a pivotal role in driving our top-line growth."
Excluding the impact of divested bus manufacturing businesses, net sales increased 7.7% compared to the prior year quarter. This growth was primarily driven by higher sales in the Specialty Vehicles segment, partially offset by lower Recreational Vehicles sales.
Adjusted EBITDA rose to $58.9 million from $37.5 million last year. The company repurchased approximately 2.9 million shares for $88.4 million during the quarter.
Looking ahead, REV Group raised its fiscal 2025 revenue guidance to $2.35-$2.45 billion, up from its previous outlook of $2.3-$2.4 billion and above the $2.38 billion consensus estimate.
The strong results and optimistic forecast reflect REV Group’s operational improvements and continued demand for its specialty and recreational vehicles.
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