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.
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.
REV Group, Inc. has promoted Brian Stout to Vice President and General Manager of Midwest Automotive Designs, effective immediately. Stout, who has been with the company for ten years, previously served as Director of Operations, where he successfully increased production from five to 40 vans per week. His leadership is expected to further enhance operational efficiency. Mike Lanciotti, the President of the REV Recreation Segment, commended Stout for his significant contributions to the company’s growth and success.
REV Group reported third quarter 2022 net sales of $594.8 million, a slight increase from $593.3 million in the same period last year. However, net income fell to $9.5 million from $23.7 million, and Adjusted EBITDA decreased to $29.5 million compared to $41.6 million year-over-year. The company updated its fiscal 2022 outlook to net sales between $2.25 billion and $2.35 billion. Despite strong demand, challenges such as supply chain disruptions impacted performance in the Fire & Emergency segment, with a backlog of $3.9 billion reported.
ElDorado National, a subsidiary of REV Group, has announced the development of next-generation zero-emission buses: the Axess Battery Electric Bus (EVO-BE) and Axess Hydrogen Fuel Cell Electric Bus (EVO-FC). The EVO-BE features a market-leading 738 kWh battery and the EVO-FC is designed for a range of up to 400 miles. Both models utilize the proven Axess platform, ensuring over 90% commonality for easier maintenance. Orders are now being accepted, with deliveries expected in 2023, highlighting the company's commitment to revolutionizing the transit bus industry with innovative emission-free technology.
REV Group has unveiled the Eclipse, a new Class A Gas motorhome by Holiday Rambler, showcasing various luxury features. It offers three floorplans ranging from 32’ to 35’ to cater to diverse owner preferences. Notable standard features include a full-sized stainless-steel refrigerator, Serenity king bed, and a Hide-A-Loft™ electric drop-down bed for extra guests. The motorhome is built on a robust 22,000-pound chassis with a Ford® 7.3L V8 engine providing 350 horsepower. The Eclipse starts at an MSRP of $199,888.
REV Group's Spartan Emergency Response has secured an order from Toronto Fire Services for two all-electric Vector™ fire trucks, marking a significant step in sustainable firefighting. This makes Toronto one of the first Canadian fire departments to adopt fully electric pumper trucks. The Vector trucks feature 327 kWh batteries, enabling long-lasting electric operations, aligning with Toronto's TransformTO Net Zero Strategy aiming for community-wide net zero emissions by 2040. This historic purchase supports both operational efficiency and climate action efforts.
REV Group, Inc. (NYSE: REVG) will participate in the DA Davidson Diversified Industrial & Services Conference on September 22 in Nashville, Tennessee. Mark Skonieczny, CFO, and Drew Konop, VP of Investor Relations, will represent the company, holding one-on-one meetings with institutional investors throughout the event. REV Group is known for its specialty vehicles and aftermarket services, providing solutions across three main segments: Fire & Emergency, Commercial, and Recreation.