Rev Group Stock Price, News & Analysis

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.

REV Group (NYSE: REVG) plans to release its first quarter fiscal 2023 results before market open on March 8, 2023. A live webcast will be hosted that same day at 10:00 a.m. ET to discuss the results. Interested investors can access the webcast through www.revgroup.com and should log in at least 15 minutes early. A telephonic replay will be available approximately three hours post-call until 11:59 p.m. ET on March 22, 2023. REV Group specializes in manufacturing specialty vehicles and aftermarket services across various sectors, notably in the Fire & Emergency, Commercial, and Recreation segments.

Capacity Trucks, a subsidiary of REV Group (NYSE: REVG), will introduce its new Zero Emissions Hydrogen Fuel Cell Electric (H2) terminal truck at the Technology & Maintenance Council (TMC) Annual Meeting from Feb 27 to March 1 in Orlando, Florida. This initiative marks a significant step in Capacity's decade-long journey toward zero emissions, leveraging partnerships with alternative fuel powertrain suppliers. The truck is designed for a maximum GCVWR of 180,000 pounds, can operate for a full shift before refueling, and takes just 15 minutes to refuel. Its unveiling reflects REV Group's commitment to low emissions solutions for the heavy-duty trucking industry.

REV Group, Inc. (NYSE: REVG) has announced the return of Mark Van Arnam as President of REV Ambulance Group, effective February 1, 2023, replacing Anoop Prakash. With over 35 years of experience in the ambulance sector, Van Arnam will manage brands such as Horton®, AEV®, and Wheeled Coach®. Additionally, Randy Hanson will rejoin as COO and VP/GM of AEV, leveraging his extensive experience to enhance the brand's leadership in the market. This management transition aims to strengthen operational performance and leadership within REV's ambulance division.

REV Group Appoints Interim CEO Amid Leadership Change

REV Group, Inc. (NYSE:REVG) has appointed Mark Skonieczny as Interim CEO following the departure of Rod Rushing, effective January 27, 2023. Rod has served as President and CEO for three years, guiding the company through challenges including COVID-19, inflation, and supply chain issues. Skonieczny, who is also the CFO, will lead during the transition to a permanent CEO. His extensive experience includes positions at Adient PLC and Johnson Controls. The Board expresses confidence in Skonieczny's capabilities to drive operational improvements and financial results for REV Group.

American Coach, part of REV Group, has launched its Unleash the Luxury program, running from January 1 to April 30, 2023, offering substantial rebates on 2022 and 2023 motorhomes. This initiative includes special savings for military members and first responders. The initiative is aimed at attracting new customers by showcasing the luxury features of American Coach's motorhomes built on exclusive Liberty Bridge chassis. The program is designed to enhance customer experience while expressing gratitude to those who serve the country.

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.