REV Group Q4 2021 Earnings Report
Key Takeaways
REV Group reported Q4 2021 results with net sales of $589.9 million, a decrease of 4.3% compared to Q4 2020. Net income was $0.0 million, or $0.00 per diluted share. Adjusted EBITDA was $31.1 million, compared to $28.0 million in Q4 2020. The company's backlog reached a record $3.1 billion.
Net sales decreased by 4.3% to $589.9 million compared to the fourth quarter of 2020.
Net income was $0.0 million, or $0.00 per diluted share, including a $6.2 million loss related to the expected exit of its interest in a China JV investment.
Adjusted EBITDA increased to $31.1 million compared to $28.0 million in the fourth quarter of 2020.
Record backlog of $3.1 billion at the end of the fourth quarter.
REV Group
REV Group
REV Group Revenue by Segment
Forward Guidance
The company provided its outlook for its fiscal year ended October 31st, 2022, which includes the following performance expectations:
Positive Outlook
- Net sales of $2.3 to $2.55 billion
- Net income of $45 to $73 million
- Adjusted EBITDA of $125 to $155 million
- Adjusted Net Income of $64 to $89 million
- Free Cash Flow of $58 to $80 million