REV Group Q3 2020 Earnings Report
Key Takeaways
REV Group reported a decrease in net sales and a net loss for the third quarter of 2020, impacted by COVID-19 related supply chain disruptions and employee absenteeism. The company also completed the sale of two shuttle bus businesses. Despite these challenges, the company saw stabilization in many end markets and made progress on its operating model.
Net sales decreased by 5.6% to $582.2 million compared to the prior year quarter.
Net loss was $3.6 million, compared to net income of $5.6 million in the prior year quarter.
Adjusted EBITDA decreased to $21.4 million from $33.5 million in the prior year quarter.
Completed the sale of two shuttle bus businesses for approximately $49 million in cash.
REV Group
REV Group
REV Group Revenue by Segment
Forward Guidance
The company provided its outlook for fiscal year 2020, including net revenue of $2.25 to $2.3 billion and Adjusted EBITDA of $64 to $68 million.
Revenue & Expenses
Visualization of income flow from segment revenue to net income