Welcome to our dedicated page for Rev Group news (Ticker: REVG), a resource for investors and traders seeking the latest updates and insights on Rev Group stock.
REV Group, Inc. reported developments tied to its specialty vehicle and recreational vehicle manufacturing businesses, including operating results, segment performance, product demand, capital investment and brand activity. Its Specialty Vehicles segment provided customized vehicle solutions for public-service and commercial-infrastructure applications, including ambulances, fire apparatus, terminal trucks and industrial sweepers. Its Recreational Vehicles segment manufactured Class B vans, Class C/Super C motorhomes and Class A gas and diesel motor coaches through brands such as Fleetwood RV, Holiday Rambler, American Coach, Renegade RV and Midwest Automotive Designs.
Company updates also covered shareholder voting matters, governance, capital-structure actions, debt reduction, share repurchases, regular cash dividends and capacity investments such as Horton Emergency Vehicles manufacturing expansion. Later corporate-status disclosures addressed the removal and termination of registration of REV Group common stock.
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.
Summary not available.
Lightning eMotors and REV Group, Inc. are co-developing zero-emission, all-electric ambulances through Leader Emergency Vehicles™, a REV Group subsidiary. The electric ambulances, based on Lightning's fourth-generation Electric Transit Van, are set for delivery by the end of this year. They will feature a battery capacity of up to 105 kWh, ensuring powerful performance with no tailpipe emissions, promoting healthier air quality. Production will occur at Lightning's facility in Loveland, Colorado, and Leader's facility in California.
REV Group, a leader in specialty vehicle manufacturing, will host its 2021 Investor and Analyst Day on April 15, 2021, at 10:00 a.m. ET. Presenters include CEO Rod Rushing and CFO Mark Skonieczny, who will discuss the REV Drive Business System, aimed at enhancing operational and financial performance, alongside strategic direction and capital allocation. A live webcast will be available, with a supplemental slide deck on its investor relations website, providing further insights into REV's diversified offerings across Fire & Emergency, Commercial, and Recreation sectors.