Rev Group Stock Price, News & Analysis

On April 12, 2023, REV Recreation Group, a subsidiary of REV Group, announced enhancements to its line of American Coach recreational vehicles, targeting full-time RVers. The new floor plans, including the American Dream® 39RK, 45D, and American Eagle® 45E, showcase a luxurious kitchen island design tailored for extended stays. These innovative layouts provide ample storage and facilitate access to essential amenities while the vehicle is in motion. The announcement highlights the growing trend of permanent RV living as a cost-effective alternative to traditional housing and emphasizes community and outdoor exploration benefits. For those interested in RV life, REV Recreation Group encourages visiting their website for more details on their product offerings.

ElDorado National, a REV Group subsidiary, has received an order for three Axess EVO-FC hydrogen fuel cell buses from the Rochester-Genesee Regional Transportation Authority (RGRTA). This order supports RGRTA's goal of achieving a zero-emissions fleet by 2035. The Axess EVO-FC buses have an industry-leading range of 400 miles and feature rapid refueling of 12-20 minutes, emitting only water as a byproduct. This initiative is backed by funding from the Federal Transit Administration to promote low and no-emission technology. Delivery of the buses is expected in 2024.

Modine Manufacturing Company (NYSE: MOD) has expanded its partnership with REV Group (NYSE: REVG) to provide advanced thermal management systems for the Vector, North America’s first all-electric fire truck. The EVantage suite includes a Battery Thermal Management System, Electronics Cooling Package, and cabin heating/cooling circuits. This collaboration aims to minimize environmental impacts in the firefighting industry by enhancing the use of alternative energy solutions. The Vector features 327 kWh of automotive-grade batteries, ensuring efficient operation and sustainability in emergency services.

Horton Emergency Vehicles, a subsidiary of REV Group, announced the launch of the Horton Occupant Protection System™ (HOPS) featuring MBrace™, an advanced airbag safety system for ambulance first responders. MBrace, which protects against frontal impact and rollover incidents, will be standard on all Horton vehicle orders from April 1, 2023. Independent data shows that nearly 80% of fatal ambulance accidents involve frontal impacts. Developed in partnership with IMMI, MBrace ensures both safety and mobility for emergency care providers. The system will be showcased at FDIC International in Indianapolis from April 27-29, 2023.

REV Group, Inc. (NYSE: REVG) reported first quarter 2023 net sales of $583.5 million, an increase of 8.7% from $537.0 million in the same quarter last year. However, the company faced a net loss of $13.5 million, compared to a loss of $0.7 million in Q1 2022. Adjusted EBITDA rose to $21.3 million from $18.3 million. The company affirms its full-year FY 2023 outlook, projecting net sales between $2.3 billion and $2.5 billion and adjusted EBITDA of $110 million to $130 million. The Fire and Emergency segment saw a 3.4% sales drop, largely due to supply chain issues and legal challenges.

REV Fire Group announces a $1.5 million expansion and renovation of its Ephrata, PA facility aimed at increasing the manufacturing capacity for aerial apparatus, specifically tractor drawn aerials (TDAs). This project is set to more than triple the production of TDAs and nearly double the workforce. With the leasing of two additional buildings, total space will increase to 123,000 square feet. The enhancements will streamline operations, including a new 20,000 square foot final inspection center. Job fairs will be held to recruit additional employees, reflecting the company's commitment to operational efficiency and customer satisfaction.