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Jul 31, 2021
REV Group Q3 2021 Earnings Report
Reported strong third quarter results, driven by increased sales and profitability in the recreation segment and improved performance in the fire and emergency segment.
Key Takeaways
REV Group reported a strong third quarter with net sales of $593.3 million, a 1.9% increase compared to the prior year. Net income was $23.7 million, compared to a net loss of $3.6 million in the prior year. Adjusted EBITDA was $41.6 million, compared to $21.4 million in the prior year. The company's backlog reached a record $2.7 billion.
Net sales increased by 1.9% to $593.3 million compared to the prior year quarter.
Net income was $23.7 million, a significant improvement from the net loss of $3.6 million in the prior year quarter.
Adjusted EBITDA increased to $41.6 million, compared to $21.4 million in the prior year quarter.
Record backlog of $2.7 billion, driven by strong order intake across all segments.
REV Group
REV Group
REV Group Revenue by Segment
Revenue by Segment
Specialty Vehicles Revenue
CapyFin.comRecreational Vehicles Revenue
CapyFin.com Forward Guidance
The company provided its updated outlook for its fiscal year ending October 31st, 2021.
Positive Outlook
- Net Sales between $2,300 and $2,450 million
- Net Income between $54 and $64 million
- Adjusted EBITDA between $140 and $150 million
- Adjusted Net Income between $74 and $83 million
- Free Cash Flow between $90 and $100 million
Revenue & Expenses
Visualization of income flow from segment revenue to net income