Rev Group Stock Price, News & Analysis

REV Group reported third-quarter 2021 net sales of $593.3 million, a 1.9% increase from the prior year. Net income stood at $23.7 million, reversing a net loss of $3.6 million in Q3 2020. Adjusted EBITDA rose to $41.6 million, compared to $21.4 million in the same quarter last year. The company announced a $150 million share repurchase program and reported a record backlog of $2.7 billion due to strong order intake across all segments. Additionally, REV updated its fiscal year 2021 guidance, projecting net sales between $2.3 billion and $2.45 billion.

REV Group, Inc. (NYSE: REVG) announced that its President and CEO Rod Rushing, CFO Mark Skonieczny, and VP of Investor Relations Drew Konop will present at the Morgan Stanley Virtual Laguna Conference. The presentation is scheduled for 12:45 p.m. Eastern Time on September 13, 2021. Interested parties can access the live webcast through the investor relations section of the company’s website. An online replay will be available for 90 days after the presentation, with materials posted on their investor relations page.

REV Group (NYSE: REVG) and Lightning eMotors (NYSE: ZEV) have partnered to manufacture and deploy over 100 all-electric Type A school buses across the U.S. and Canada. This collaboration includes an initial order worth approximately $11 million over the next two years, with Lightning providing electric powertrains and charging infrastructure. The buses will feature advanced battery technology and V2G capabilities. Demand for zero-emission school buses is rising significantly, aided by upcoming infrastructure funding that includes $7.5 billion for electric vehicle charging.

REV Fire Group, part of REV Group (NYSE:REVG), announces the launch of the first fully electric North American-style fire apparatus. Developed with Emergency One Group LTD, this innovative truck features a 316 kW battery system, enabling prolonged electric operation for fire departments. It is designed to enhance sustainability while maintaining performance, including a backup diesel engine for extended operations. Customizable and built with locally sourced components, the new apparatus will be available for delivery in 2022 and is currently open for preorders.

Lightning eMotors (NYSE: ZEV) and Collins Bus, a subsidiary of REV Group (NYSE: REVG), have announced a partnership to manufacture over 100 all-electric Type A school buses for deployment across the U.S. and Canada. The deal includes an initial firm order worth approximately $11 million over the next two years, with Lightning providing powertrains and charging infrastructure. The school buses will feature advanced battery technology and capabilities, supporting both Level 2 AC and Level 3 DC Fast Charging. Production is underway, with deliveries expected this fall.

REV Group (NYSE: REVG) is set to release its third quarter 2021 financial results on September 8, 2021, before the market opens. The results will be presented in a live webcast starting at 10:00 a.m. ET on the same day. Investors can access the webcast at www.revgroup.com. Additionally, a telephonic replay will be available three hours post-call until September 22, 2021. REV Group specializes in designing and manufacturing specialty vehicles across various sectors, including emergency services, commercial needs, and recreational vehicles.

REV Group, a leader in specialty vehicle manufacturing, announced that its President and CEO, Rod Rushing, along with CFO Mark Skonieczny and VP Drew Konop, will present at the Jefferies 2021 Virtual Industrials Conference on August 3, 2021, at 9:30 a.m. ET. The presentation will be available for live streaming on the company's investor relations website. A replay will be accessible for 90 days following the event. REV Group operates in three segments: Fire & Emergency, Commercial, and Recreation, serving a diversified customer base with a robust portfolio of established vehicle brands.

REV Group (NYSE:REVG) announced the pricing of a public offering of 5,500,000 shares of common stock by certain selling stockholders at $15.50 per share. Additionally, underwriters have an option to purchase 825,000 more shares. REV Group will not issue any shares or receive proceeds from this offering. The offering is expected to close around June 15, 2021. Goldman Sachs, Morgan Stanley, and other financial institutions are leading the offering, with a registration statement filed with the SEC.

REV Group, Inc. (NYSE:REVG) has initiated an underwritten public offering of 7,500,000 shares of common stock by selling stockholders, with an additional option for underwriters to purchase up to 1,125,000 more shares. REV Group will not sell shares nor receive proceeds from this offering. The offering depends on market conditions. Goldman Sachs & Co. LLC and Morgan Stanley are the joint book-running managers. The SEC has declared the related registration statement effective, and details can be found in the preliminary prospectus filed with the SEC.