Rev Group Stock Price, News & Analysis

REV Group, Inc. (NYSE: REVG) reported fourth quarter net sales of $589.9 million, a 4.3% decline year-over-year. However, full year sales rose 4.5% to $2.38 billion. The fourth quarter net income stood at $0.0 million but adjusted net income increased to $17.9 million. Adjusted EBITDA also improved to $31.1 million for the quarter. The company declared a quarterly dividend of $0.05 per share and reported a record backlog of $3.1 billion.

Outlook for fiscal 2022 anticipates net sales between $2.3 and $2.55 billion.

REV Group, Inc. (NYSE: REVG) has announced key agreements to advance alternative fuel-powered ambulances in the U.S. and internationally. Major contracts include sales to American Medical Response (AMR), Qatar's Hamad Medical Corporation (HMC), and a modification of the U.S. General Services Administration (GSA) contract for electric ambulances. AMR has purchased five electric ambulances, with an option for 25 more, while HMC is testing a zero-emission ambulance. These initiatives align with REV's commitment to lead in electric ambulance technology.

REV Group (NYSE: REVG) plans to release its fourth quarter and full year fiscal 2021 results on December 15, 2021, before market open. A live webcast will follow at 10:00 a.m. ET on the same day for discussing these results. Investors can access the webcast on www.revgroup.com. A telephonic replay of the conference call will be available three hours after the call until 11:59 p.m. ET on December 29, 2021. REV Group specializes in manufacturing specialty vehicles across three segments: Fire & Emergency, Commercial, and Recreation.

REV Group, Inc. (NYSE: REVG) announced a presentation at the virtual Baird 2021 Global Industrial Conference on November 9, 2021, at 2:00 p.m. Eastern Time. President and CEO Rod Rushing, CFO Mark Skonieczny, and VP of Investor Relations Drew Konop will present. Investors can listen to the webcast via the company's investor relations website, and materials will be available for 90 days post-presentation. REV Group specializes in manufacturing specialty vehicles and aftermarket parts across three segments: Fire & Emergency, Commercial, and Recreation.

REV Group announces the construction of an all-electric E-ONE Vector fire truck for the Mesa Fire and Medical Department in Mesa, AZ. The Vector features the longest electric pumping duration, enabling the use of four hose lines for four hours on a single charge. This initiative aligns with Mesa's Climate Action Plan aimed at achieving carbon neutrality by 2050, showcasing REV's commitment to innovative, environmentally friendly solutions. The delivery of this electric fire truck is expected in 2022, marking a significant step in the company's product offerings.

ElDorado National (California), a subsidiary of REV Group, announced the launch of its fully electric Axess bus at the APTA Expo from November 8-10, 2021. This bus is a remarkable achievement in zero-emissions technology, featuring a zero-corrosion 304-grade stainless steel structure and multiple configurations in lengths of 40’, 35’, and 32’. Safety features include 3-point passenger seat belts and enhanced driver visibility. The Axess is designed for various high-demand applications, marking a significant advancement in emission-free public transportation solutions.

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.