REV Group ( (REVG) ) has released its Q1 earnings. Here is a breakdown of the information REV Group presented to its investors.
REV Group, Inc., a prominent manufacturer of specialty and recreational vehicles, operates primarily in the United States, providing customized vehicle solutions for public services and commercial infrastructure.
In its fiscal 2025 first quarter earnings report, REV Group announced net sales of $525.1 million, a decrease from the previous year’s $586.0 million, which included sales from the now-divested Bus Manufacturing Businesses. Despite this, the company reported a record first quarter Adjusted EBITDA of $36.8 million, showcasing strong operational performance.
Key financial highlights include an increase in net sales by 3.1% when excluding the Bus Manufacturing Businesses, driven by the Specialty Vehicles segment. Adjusted Net Income rose to $20.9 million from $14.7 million in the prior year, reflecting improved profitability. The company also repurchased 0.6 million shares, utilizing its strong financial position to enhance shareholder value.
The Specialty Vehicles segment saw a notable increase in Adjusted EBITDA, bolstered by higher sales volumes of fire apparatus and ambulances, while the Recreational Vehicles segment faced challenges with decreased shipments and increased dealer assistance. Despite these hurdles, the company maintained a solid backlog, indicating sustained demand.
Looking ahead, REV Group remains confident in its growth trajectory, reaffirming its fiscal 2025 guidance. The company plans to continue leveraging its operational strengths and financial resources to drive long-term shareholder value.