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Apr 30, 2024
REV Group Q2 2024 Earnings Report
REV Group reported strong results driven by robust demand in Fire and Ambulance businesses and operating initiatives focused on throughput improvements.
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.
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
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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