REV Group Q2 2023 Earnings Report
Key Takeaways
REV Group reported strong second quarter results with net sales of $681.2 million and net income of $14.2 million. The company raised its full-year fiscal 2023 outlook for net sales, Adjusted EBITDA, Adjusted Net Income, and Free Cash Flow. A new $175.0 million share repurchase authorization was approved.
Second quarter net sales increased to $681.2 million compared to $576.3 million in the prior year quarter.
Second quarter net income was $14.2 million compared to a net loss of $2.3 million in the prior year quarter.
Second quarter Adjusted EBITDA reached $41.9 million compared to $23.8 million in the prior year quarter.
The company raised its full-year fiscal 2023 outlook for net sales to $2.45 to $2.55 billion and Adjusted EBITDA to $120 to $135 million.
REV Group
REV Group
REV Group Revenue by Segment
Forward Guidance
The company raised its full-year fiscal 2023 outlook for net sales of $2.45 to $2.55 billion, Adjusted EBITDA of $120 to $135 million, Adjusted Net Income of $48 to $62 million, and Free Cash Flow of $43 to $56 million; net income outlook of $15 to $30 million
Revenue & Expenses
Visualization of income flow from segment revenue to net income