Rev Group Stock Price, News & Analysis

REV Group announced that its all-electric Vector fire truck will join three other REV Fire pumpers at Daytona International Speedway in 2023. This partnership, now in its second year, aligns with the speedway's sustainability efforts, as the Vector is zero-emission and contributes to reducing carbon footprints. The Vector features advanced technology with 327 kWh of automotive-grade batteries, providing the longest electric pumping duration in the industry. It will be utilized during major events like the Daytona 500 and Rolex 24, reinforcing REV's commitment to innovation in emergency response vehicles.

REV Group's subsidiary, ElDorado National (California), has begun delivering nine hybrid-electric E-Z Rider II buses to Georgia Tech, aligning with the university's goal of achieving carbon neutrality by 2050. The buses will operate on the Atlanta campus, featuring innovative GPS technology that enables automatic switching to 100% battery power in designated 'green zones', effectively eliminating emissions and noise. This initiative underscores REV Group's commitment to alternative fuel solutions in the transit sector.

Spartan Emergency Response, a subsidiary of REV Group, has secured an order from the Charlotte Fire Department for an all-electric Vector fire truck, the first of its kind in North Carolina and the Southeast. This vehicle, equipped with 327 kWh batteries, will facilitate extended electric pumping capabilities. It is set to be housed in the city’s inaugural all-electric firehouse, which will open in 2024, highlighting REV Group's commitment to sustainable firefighting solutions.

REV Group, Inc. (NYSE: REVG) reported Q4 2022 net sales of $623.6 million, a 5.7% increase year-over-year, and full-year sales of $2.3 billion, down 2.1% from the previous year. Q4 net income was $8.7 million, up from $0 million, while full-year net income dropped to $15.2 million from $44.4 million. Adjusted EBITDA for Q4 was $33.5 million, a rise from $31.1 million, but full-year Adjusted EBITDA decreased to $105.1 million from $141.5 million. The company declared a quarterly dividend of $0.05 per share and expects 2023 sales between $2.3 billion and $2.5 billion.

The Fleetwood RV® Frontier GTX has gained industry recognition, including being awarded Best New Model for 2023 by RV PRO and being named a finalist for RV of the Year by RVBusiness. This model features an innovative corner office design in the 37RT, catering to the needs of remote workers. The Frontier GTX was showcased at the 2022 Open House in Elkhart and will be featured at the Florida RV Super Show from January 18-22, 2023. REV Group, Inc. manufactures this model, reinforcing its commitment to innovation in the recreational vehicle sector.

REV Group (NYSE: REVG) plans to release its fourth quarter fiscal 2022 results on December 14, 2022, before market open. Investors can join a live webcast at 10:00 a.m. ET that same day for discussion and insights regarding the results. The webcast will be accessible via www.revgroup.com. A telephonic replay will be available about three hours after the call, lasting until 11:59 p.m. ET on December 28, 2022.

REV Group, Inc. (NYSE: REVG) has appointed Dan DesRochers as the new President of REV Fire Group. He will oversee brands such as E-ONE®, Ferrara™, and KME™, reporting directly to CEO Rod Rushing. DesRochers brings over 30 years of experience, having previously served as President and COO at Morgan Truck Body, leading 2,500 employees across 14 plants. His track record includes successful business turnarounds and expertise in manufacturing operations. Rushing expressed confidence in DesRochers' ability to enhance customer service and shareholder value.

REV Group Inc., through its subsidiary ElDorado National, has secured an order from Dallas Fort Worth International Airport for 22 Axess CNG buses and 4 Axess EVO-BE Battery Electric buses. This acquisition aims to enhance DFW's sustainability efforts, as it is the first carbon-neutral airport in North America. The buses are expected to be delivered by Summer 2023. Jason Moore, VP of ENC, emphasized the commitment to low-emission technologies, while DFW aims for net-zero carbon emissions by 2030.