REV Group Inc (REVG) has released an update.
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REV Group, Inc. has announced the launch of a public offering of 12 million shares, with an additional option for underwriters to purchase up to 1.8 million more. The company also plans to repurchase half of the shares offered. Preliminary financial results for Q1 2024 show an estimated increase in revenue and net income, primarily due to strong performance in the Specialty Vehicles segment and a gain from the sale of their Collins Bus Corporation subsidiary. These early figures suggest a significant improvement compared to the same period in the previous year, with a notable rise in Adjusted EBITDA and Adjusted Net Income. However, these preliminary results are subject to finalization and should not be relied upon as an indication of future performance.
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