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Apr 30
REV Group Q2 2025 Earnings Report
REV Group reported higher revenue and profitability in Q2 2025, driven by strong performance in the Specialty Vehicles segment.
Key Takeaways
REV Group delivered a solid Q2 2025 with revenue of $629.1 million and net income of $19 million. The company saw significant margin improvement in its Specialty Vehicles segment, and Adjusted EBITDA rose sharply year-over-year.
Net sales reached $629.1 million, up from $616.9 million in Q2 2024.
Net income rose to $19 million from $15.2 million a year ago.
Adjusted EBITDA grew to $58.9 million, a 57% increase year-over-year.
Strong segment performance in Specialty Vehicles with margin improvement.
REV Group
REV Group
REV Group Revenue by Segment
Revenue by Segment
Specialty Vehicles Revenue
CapyFin.comRecreational Vehicles Revenue
CapyFin.com Forward Guidance
REV Group updated its FY2025 guidance, expecting revenue of $2.35–$2.45 billion and adjusted EBITDA of $200–$220 million.
Positive Outlook
- Revenue guidance raised to $2.35–$2.45B.
- Adjusted EBITDA forecast maintained at up to $220M.
- Adjusted Net Income outlook of $112M to $130M.
- Expectations for $100M–$120M in Free Cash Flow.
- Strong year-to-date performance supports outlook.
Challenges Ahead
- Potential headwinds from tariffs mentioned.
- Recreational Vehicle segment showed lower shipments.
- Dealer assistance impacts margins in RV segment.
- Unfavorable fire apparatus mix noted.
- Increased inflationary pressures in manufacturing costs.
Revenue & Expenses
Visualization of income flow from segment revenue to net income