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. (NYSE: REVG) is a manufacturer of specialty vehicles and motorized recreational vehicles, and its news flow reflects activity across both areas. Company releases highlight performance in the Specialty Vehicles Segment, which provides customized vehicle solutions for public services such as ambulances and fire apparatus, and for commercial infrastructure through terminal trucks and industrial sweepers. News items often discuss segment net sales, Adjusted EBITDA, and backlog, particularly for fire apparatus and ambulance units.
In the Recreational Vehicles Segment, REV Group issues updates on brand performance at major industry events, including America’s Largest RV Show in Hershey, Pennsylvania, and the Elkhart Dealer Open House in Indiana. These stories cover sales results, dealer orders, and interest in Class A, B, C, and Super C motorhomes from brands such as Fleetwood RV, Holiday Rambler, American Coach, Renegade RV, and Midwest Automotive Designs. Additional news covers marketing partnerships, such as Holiday Rambler’s agreement with the Indianapolis Colts, which showcases RV products in fan and family settings.
Investors following REVG news will also find earnings announcements, guidance updates, and capital investment disclosures. Recent releases describe quarterly and full-year financial results, updates to fiscal outlook, and facility expansions like Spartan Emergency Response’s planned production increase and Horton Emergency Vehicles’ added assembly capacity. Regulatory filings and joint press releases provide information on the announced merger agreement with Terex Corporation, including transaction structure and closing conditions.
This news page aggregates these updates so readers can review REV Group’s segment performance, brand activity, strategic investments, and corporate transactions in one place.
American Emergency Vehicles (AEV) is consolidating operations into a new 300,000 sq. ft. facility in Jefferson, NC, enhancing production capabilities and operational efficiencies. This unified campus spans 35 acres and will increase production lines from four to five, promoting growth and improved quality. Facility refurbishments are slated for completion by summer, with equipment installation expected by February 2022. AEV’s commitment to quality and excellence is emphasized, positioning the company for future success in the emergency vehicle market.
REV Group announces an extended agreement with ZeroRPM to exclusively integrate their patented Idle Mitigation Systems® into the ambulance market until 2024. The technology significantly reduces extended idling, saving an average of 7,620 gallons of fuel over five years and lowering CO2 emissions by 85 tons. With this system, ambulances can operate critical functions while the engine is off, reducing wear and tear by 1,634 engine hours per year. This partnership enhances REV's commitment to environmental efficiency and cost reduction in emergency services.
ElDorado National (California), a subsidiary of REV Group, has secured a contract from Pace Suburban Bus for 44 additional thirty-foot clean diesel Axess model heavy-duty transit buses. This order is part of a larger agreement for up to 164 fully accessible buses, emphasizing Pace's efforts to modernize its fleet and reduce maintenance costs. With a long-standing partnership, ENC has delivered almost 700 buses to Pace over the past 15 years. The Axess 30’ buses, designed for urban navigation, feature a corrosion-free structure, marking a significant advancement in transit bus technology.
REV Group, Inc. (NYSE: REVG) reported first quarter 2021 net sales of $554.0 million, a 4.1% increase from the prior year. Adjusted Net Income stood at $8.8 million, or $0.14 per diluted share, improving from an Adjusted Net Loss of $2.7 million a year earlier. The Fire and Emergency segment saw net sales rise by 35.9% to $280.6 million, while the Commercial segment fell 47.5% to $83.1 million. The company expects fiscal 2021 net sales between $2.45 and $2.6 billion.
Collins Bus, a leader in Type A school bus manufacturing under REV Group, has experienced increased interest in its Electric Vehicle Type-A school buses. It recently delivered Connecticut's first Type A All Electric School Bus and secured orders for 11 more from California, New York, and Arizona by the end of 2020. The buses are designed to save up to 85% in operating and maintenance costs compared to traditional buses. Collins aims to reduce transportation-related greenhouse gas emissions, promoting cleaner air for drivers and students.
REV Group (NYSE: REVG) plans to release its first quarter 2021 results before market open on March 10, 2021. A live webcast will discuss these results at 10:00 a.m. ET on the same day. Investors can access the webcast via the company's website, with slides available shortly before the event. Additionally, a telephonic replay of the conference call will be accessible after the call until March 24, 2021. REV Group is known for its specialty vehicles serving public services, commercial infrastructure, and consumer leisure markets.
REV Group, Inc. (NYSE: REVG) reported fourth quarter 2020 net sales of $616.3 million, a 5.6% decrease from $652.9 million in Q4 2019. The full year net sales also declined by 5.2% to $2.3 billion. Notably, the company faced a net loss of $10.2 million in Q4 2020, including restructuring expenses and impairment charges, while adjusted net income improved to $11.8 million. Segment highlights include a 22.5% increase in Fire & Emergency net sales driven by the Spartan ER acquisition, though Commercial segment sales fell 55.7%. Adjusted EBITDA increased in Q4 to $28.0 million.
REV Group, Inc. (NYSE: REVG) reported preliminary results for its fiscal year ending October 31, 2020. Net sales reached $2,278 million, exceeding the previous outlook of $2,250 - $2,300 million. However, the company posted a net loss of ($30.5 million), surpassing the anticipated loss of ($9.8 - $17.6 million). Adjusted net income was $9.5 million, with adjusted EBITDA at $67.5 million. As of October 31, cash and cash equivalents were $11.4 million, and net debt was $330.8 million.