REV Group, Inc. (NYSE: REVG) reported Q1 EPS of $0.14, $0.08 better than the analyst estimate of $0.06. Revenue for the quarter came in at $554 million versus the consensus estimate of $530.09 million.

• First quarter net sales of $554.0 million compared to $532.1 million in the prior year quarter
• First quarter net income of $0.0 million compared to a net loss of $9.4 million in the prior year quarter
• First quarter Adjusted EBITDA1 of $23.2 million compared to $11.3 million in the prior year quarter
• First quarter Adjusted Net Income of $8.8 million compared to an Adjusted Net Loss of $2.7 million in the prior year quarter
• Net cash provided by operating activities of $1.9 million compared to a net use of $13.3 million in the prior year quarter
• Full year fiscal 2021 Adjusted EBITDA guidance range of $125 to $135 million, represents an 85% to 100% increase year over year

“We are pleased with our fiscal first quarter results which reflect year-over-year operating improvements in our business. Backlog and order intake have been strong in fire, emergency, recreation and specialty markets and we expect our transportation service markets to respond to greater availability and adoption of COVID-19 vaccinations throughout the year,” REV Group Inc. President and CEO Rod Rushing said. “Today we provide fiscal 2021 guidance that illustrates the momentum that we have achieved as we continue to offset the COVID-19 related headwinds by driving operational improvements.”

GUIDANCE:

REV Group, Inc. sees FY2021 revenue of $2.4-2.6 billion, versus the consensus of $2.36 billion.

The company also provided its initial outlook for fiscal year 2021, which includes the following performance expectations:

• Net sales of $2.45 to $2.6 billion
• Net income of $38 to $52 million
• Adjusted EBITDA of $125 to $135 million
• Adjusted Net Income of $56 to $70 million
• Free Cash Flow4 of $45 to $70 million

For earnings history and earnings-related data on REV Group, Inc. (REVG) click here.