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Jan 31, 2023
REV Group Q1 2023 Earnings Report
REV Group reported first quarter results and updated fiscal year 2023 outlook.
Key Takeaways
REV Group's first quarter net sales increased by 8.7% to $583.5 million compared to the prior year, driven by higher sales in the Commercial and Recreation segments, while net loss was $13.5 million, impacted by legal and restructuring charges. The company reaffirms its full-year fiscal 2023 outlook for net sales and Adjusted EBITDA, while updating the outlook for net income.
First quarter net sales of $583.5 million compared to $537.0 million in the prior year quarter
First quarter net loss of $13.5 million compared to a net loss of $0.7 million in the prior year quarter
First quarter Adjusted EBITDA of $21.3 million compared to $18.3 million in the prior year quarter
Reaffirms full-year fiscal 2023 outlook for net sales of $2.3 to $2.5 billion, Adjusted EBITDA of $110 to $130 million, and Adjusted Net Income of $42 to $60 million; Updates outlook for net income to $13 to $32 million
Revenue by Segment
Forward Guidance
Full Fiscal Year 2023 Updated Guidance. Net Sales $2.3 to $2.5 billion, Net Income $13 to $32 million, Adjusted EBITDA $110 to $130 million, Adjusted Net Income $42 to $60 million, Free Cash Flow $39 to $55 million.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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