Rev Group Inc is a manufacturer of specialty vehicles focusing on diverse markets, including emergency services, recreational vehicles, and commercial products
The company designs and produces a wide range of vehicles, such as ambulances, fire trucks, and buses, catering to the needs of both public safety agencies and consumers. Rev Group combines innovative engineering with craftsmanship to deliver high-quality, reliable vehicles that meet the unique demands of their customers. Through its various brands, the company aims to enhance safety, efficiency, and performance in the vehicles it produces while contributing to the community and industry excellence.
As the craze of earnings season draws to a close, here’s a look back at some of the most exciting (and some less so) results from Q3. Today, we are looking at heavy transportation equipment stocks, starting with REV Group (NYSEREVG).
As the craze of earnings season draws to a close, here’s a look back at some of the most exciting (and some less so) results from Q3. Today, we are looking at heavy transportation equipment stocks, starting with Trinity (NYSETRN).
Shares of speciality vehicle provider REV (NYSEREVG)
jumped 16.8% in the morning session after the company reported third-quarter results, which blew past analysts' EBITDA and EPS estimates. On the other hand, its revenue in the quarter and full-year revenue guidance both missed. Overall, this quarter was mixed. The market seems to be more focused on the positives.
Speciality vehicle provider REV (NYSEREVG) missed Wall Street’s revenue expectations in Q3 CY2024, with sales falling 13.8% year on year to $597.9 million. The company’s full-year revenue guidance of $2.35 billion at the midpoint came in 4.3% below analysts’ estimates. Its non-GAAP profit of $0.51 per share was 4.1% above analysts’ consensus estimates.
REV Group has had an impressive run over the past six months as its shares have beaten the S&P 500 by 6.3%. The stock now trades at $30.85, marking a 20.5% gain. This was partly due to its solid quarterly results, and the performance may have investors wondering how to approach the situation.
REV Group reported Q3 results with net sales of $579.4 million, missing consensus of $618.7 million. Adjusted EPS of $0.48 beat street view of $0.42. Company lowered FY24 outlook for net sales.
