REV Group Q2 2024 Earnings Report
Key Takeaways
REV Group, Inc. reported second quarter net sales of $616.9 million and net income of $15.2 million. The company's Specialty Vehicles segment saw increased sales and Adjusted EBITDA, while the Recreational Vehicles segment experienced decreased sales and Adjusted EBITDA. REV Group updated its full-year fiscal 2024 outlook, projecting net sales of $2.4 to $2.5 billion and net income of $230.0 to $245.0 million.
Net sales were $616.9 million compared to $681.2 million in the prior year quarter.
Net income was $15.2 million compared to $14.2 million in the prior year quarter.
Adjusted EBITDA was $37.5 million compared to $41.9 million in the prior year quarter.
Company updated full-year fiscal 2024 outlook with net sales of $2.4 to $2.5 billion and net income of $230.0 to $245.0 million.
REV Group
REV Group
REV Group Revenue by Segment
Forward Guidance
The company updated its full-year fiscal 2024 outlook, projecting net sales of $2.4 to $2.5 billion, net income of $230.0 to $245.0 million, Adjusted EBITDA of $151.0 to $165.0 million, and Adjusted Net Income of $76.0 to $90.0 million.
Positive Outlook
- Net sales of $2.4 to $2.5 billion
- Net income of $230.0 to $245.0 million
- Adjusted EBITDA of $151.0 to $165.0 million
- Adjusted Net Income of $76.0 to $90.0 million
- Net cash from operating activities of $20.0 to $35.0 million
Challenges Ahead
- Approximately $71.0 million of income tax and transaction costs related to divestiture activities
- Adjusted Free Cash Flow of $61.0 to $72.0 million
- Does not include any non-recurring charges that may occur during the period shown other than those presented in this reconciliation.
- Our forward-looking statements are subject to risks and uncertainties
- You should not place undue reliance on forward-looking statements, which only speak as of the date hereof.
Revenue & Expenses
Visualization of income flow from segment revenue to net income