REV Group Inc · Q1 2022 earnings

Briefing

REV Group reported a decrease in net sales and net loss in Q1 2022, but maintained a record backlog due to strong order intake.

REV Group reported a decrease in net sales by 3.1% to $537.0 million and a net loss of $0.7 million for the first quarter of 2022. Despite these challenges, the company's backlog reached a record $3.4 billion, driven by robust demand across all segments.

• Net sales decreased by 3.1% to $537.0 million compared to the prior year quarter.
• Net loss was $0.7 million, compared to $0.0 million in the prior year quarter.
• Adjusted EBITDA was $18.3 million, down from $23.2 million in the prior year quarter.
• Record backlog of $3.4 billion driven by strong order intake across all segments.

Headline financials

Revenue & EPS history

REV Group reaffirms its full-year fiscal 2022 outlook, expecting net sales between $2.3 to $2.55 billion, net income of $45 to $73 million, Adjusted Net Income of $64 to $89 million, Free Cash Flow of $58 to $80 million, and Adjusted EBITDA of $125 to $155 million.