Rev Group Stock Price, News & Analysis

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.

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.