NYSE$REVG
REV Group Inc · Q1 2024 earnings
Q1 2024 earnings · · Investor relations
Briefing
Reported strong first quarter results and provided updated fiscal 2024 outlook.
REV Group reported a strong first quarter with net sales of $586.0 million and net income of $182.7 million, driven by pricing actions and operational improvements in the Specialty Vehicles segment. The company has updated its full-year fiscal 2024 outlook, projecting net sales between $2.45 and $2.55 billion and adjusted EBITDA between $145.0 and $165.0 million.
- Net sales increased to $586.0 million compared to $583.5 million in the prior year quarter.
- Net income was $182.7 million, a significant increase from the net loss of $13.5 million in the prior year quarter, including a gain on sale of Collins Bus.
- Adjusted EBITDA increased to $30.5 million compared to $21.3 million in the prior year quarter.
- The company completed the sale of Collins Bus Corporation and announced the discontinuation of manufacturing operations at its ElDorado National (California) facility.
Headline financials
Revenue & EPS history
REV Group · Revenue · Quarterly
$586M
Revenue by segment
REV Group · $554M total across 2 segments · Q4 2023
- Specialty Vehicles$339M+34.0%61.2%
- Recreational Vehicles$215M-17.3%38.8%
Forward guidance
REV Group adjusts its full-year fiscal 2024 outlook with net sales between $2.45 to $2.55 billion, net income of $224.0 to $245.0 million, Adjusted EBITDA of $145.0 to $165.0 million, and Adjusted Net Income of $72.0 to $90.0 million.
Tailwinds
- Net sales are projected to be between $2.45 billion and $2.55 billion.
- Net income is expected to be between $224.0 million and $245.0 million.
- Adjusted EBITDA is anticipated to be between $145.0 million and $165.0 million.
- Adjusted Net Income is forecasted to be between $72.0 million and $90.0 million.
- Net cash from operating activities is projected to be between $16.0 million and $36.0 million.
Headwinds
- Net cash from operating activities includes approximately $71.0 million of income tax and transaction costs related to divestiture activities.
- The wind down of ENC’s manufacturing operations is expected to be substantially completed by the end of fiscal year 2024.
- Lower net sales in the Recreational Vehicles segment negatively impacted consolidated net sales.
- Inflationary pressures and increased discounting affected the Recreational Vehicles segment.
- The company used a portion of the proceeds from the sale of Collins to reduce outstanding borrowings.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 7 quarterly earnings reports
-0.4%
Avg return
Earnings day
+10.7%
Avg return
5 days after
+12.7%
Avg return
30 days after
54%
22 / 41 earnings
Positive
+24.8%
Q1 2021
Best reaction
-26.5%
Q4 2018
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | — | — | — | |
| Q4 2025 | +5.8% | +6.3% | +20.6% | |
| Q3 2025 | +12.5% | +19.8% | +4.2% | |
| Q2 2025 | +15.0% | +23.4% | +33.1% | |
| Q1 2025 | +2.4% | +11.8% | +7.3% | |
| Q4 2024 | +14.8% | +15.3% | +9.9% | |
| Q3 2024 | -14.2% | +10.0% | +14.5% | |
| Q2 2024 | +11.0% | +10.2% | -0.6% | |
| Q1 2024 | -6.6% | -11.6% | +12.9% | |
| Q4 2023 | +9.6% | — | — | |
| Q3 2023 | +7.5% | — | — | |
| Q2 2023 | +9.6% | — | — | |
| Q1 2023 | +3.0% | — | — | |
| Q4 2022 | -3.8% | — | — | |
| Q3 2022 | +7.3% | — | — | |
| Q2 2022 | -4.8% | — | — | |
| Q1 2022 | +5.9% | — | — | |
| Q4 2021 | -18.5% | — | — | |
| Q3 2021 | -10.4% | — | — | |
| Q2 2021 | -1.0% | — | — | |
| Q1 2021 | +24.8% | — | — | |
| Q4 2020 | -7.6% | — | — | |
| Q3 2020 | -4.3% | — | — | |
| Q2 2020 | -12.2% | — | — | |
| Q1 2020 | +7.3% | — | — | |
| Q4 2019 | +8.0% | — | — | |
| Q3 2019 | -21.1% | — | — | |
| Q2 2019 | -7.5% | — | — | |
| Q1 2019 | +10.2% | — | — | |
| Q4 2018 | -26.5% | — | — | |
| Q3 2018 | -15.2% | — | — | |
| Q2 2018 | -14.6% | — | — | |
| Q1 2018 | -11.6% | — | — | |
| Q4 2015 | +4.6% | — | — | |
| Q4 2017 | +3.7% | — | — | |
| Q3 2017 | +4.6% | — | — | |
| Q3 2016 | +4.6% | — | — | |
| Q2 2016 | +3.1% | — | — | |
| Q2 2017 | +1.2% | — | — | |
| Q1 2017 | -4.8% | — | — | |
| Q1 2016 | -4.8% | — | — | |
| Q4 2016 | -4.8% | — | — | |
| Q3 2015 | — | — | — |
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