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Jul 31, 2022
REV Group Q3 2022 Earnings Report
Reported third quarter results with net sales slightly increased year-over-year, but net income and Adjusted EBITDA decreased.
Key Takeaways
REV Group, Inc. reported third quarter 2022 results with a slight increase in net sales but a decrease in net income and Adjusted EBITDA compared to the prior year quarter. The company is taking actions to offset inflationary pressures and focusing on operational disciplines to drive margin expansion.
Net sales increased slightly to $594.8 million compared to $593.3 million in the prior year quarter.
Net income decreased to $9.5 million compared to $23.7 million in the prior year quarter.
Adjusted EBITDA decreased to $29.5 million compared to $41.6 million in the prior year quarter.
Record backlog of $3.9 billion at the end of the third quarter.
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 full-year fiscal 2022 outlook, anticipating continued margin momentum on revenue constrained by the supply chain.
Positive Outlook
- Net Sales: $2.25 to $2.35 billion
- Net Income: $14 to $25 million
- Adjusted Net Income: $44 to $54 million
- Adjusted EBITDA: $100 to $110 million
- Free Cash Flow: $58 to $70 million
Revenue & Expenses
Visualization of income flow from segment revenue to net income