Rev Group Stock Price, News & Analysis

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.

REV Group, Inc. (NYSE: REVG) reported second quarter 2021 net sales of $643.6 million, up 17.7% from $547.0 million in Q2 2020. Net income reached $20.6 million ($0.31 per diluted share), with adjusted net income at $25.7 million ($0.39 per diluted share), compared to a loss of $5.8 million last year. Adjusted EBITDA surged to $45.5 million from $7.6 million. The F&E segment showed a 6.3% sales rise, while recreation saw a remarkable 108.7% growth. Full-year guidance was raised, with anticipated net sales between $2.45 billion and $2.6 billion.

The Stark Area Regional Transit Authority (SARTA) has resumed its Borrow a Bus (BaB) Zero-Emissions Tour across California, starting June 4, 2021. This tour features a hydrogen fuel cell bus designed to showcase the benefits of hydrogen fuel technology. Supported by industry leaders, including ElDorado National California and Ballard Power Systems, the initiative aims to educate the public and policymakers about hydrogen's potential in transforming transportation. The tour includes multiple stops, where transit managers will gather data on the bus's performance, reliability, and environmental impact.

REV Group's subsidiary, ElDorado National California, has secured a contract with the San Francisco Municipal Transportation Agency (SFMTA) to supply 30 hybrid-electric E-Z Rider II buses for the Muni service. This partnership aims to enhance service reliability and reduce emissions in San Francisco's transit system. The buses will utilize the advanced Allison Hybrid EP™ system, significantly lowering diesel consumption and CO² emissions. This contract marks a strategic entry for ElDorado into a crucial market, reflecting ongoing modernization efforts in public transit.

REV Group (NYSE: REVG) will release its second quarter 2021 results on June 7, 2021, after market close. A live webcast to discuss the results is scheduled for June 8, 2021, at 10:00 a.m. ET. Investors can access the webcast through www.revgroup.com. The conference call can also be accessed via phone at 1-877-407-3982 (domestic) or 1-201-493-6780 (international). A replay will be available after the call until June 22, 2021. REV Group specializes in designing and manufacturing specialty vehicles across various sectors.