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Apr 30, 2023
REV Group Q2 2023 Earnings Report
Reported strong second quarter results and updated fiscal 2023 outlook.
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.
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
Historical Earnings Impact
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Avg. Return Before/After Earnings
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