REV Group Q3 2022 Earnings Report
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
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