REV Group, Inc. (REVG) Misses Q2 EPS by 6c, Guidance Misses Consensus
REV Group, Inc. (NYSE: REVG) reported Q2 EPS of $0.17, $0.06 worse than the analyst estimate of $0.23. Revenue for the quarter came in at $576.3 million versus the consensus estimate of $595.59 million.
GUIDANCE:
REV Group, Inc. sees FY2022 revenue of $2.25-2.4 billion, versus the consensus of $2.44 billion.
Updated Fiscal Year 2022 Outlook
“We expect the current supply chain challenges will continue into calendar year 2023 versus our prior expectation for a recovery in the second half of the current fiscal year,” REV Group, Inc. Chief Financial Officer Mark Skonieczny said. “Shortages of critical parts and chassis have negatively impacted performance, requiring us to update guidance.”
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| Full Fiscal Year 2022 |
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| Updated Guidance |
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| Prior Guidance |
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($ in millions) |
| Low |
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| High |
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| Low |
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| High |
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Net Sales |
| $ | 2,250 |
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| $ | 2,400 |
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| $ | 2,300 |
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| $ | 2,550 |
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Net Income |
| $ | 14 |
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| $ | 35 |
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| $ | 45 |
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| $ | 73 |
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Adjusted EBITDA |
| $ | 100 |
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| $ | 120 |
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| $ | 125 |
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| $ | 155 |
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Adjusted Net Income |
| $ | 43 |
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| $ | 62 |
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| $ | 64 |
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| $ | 89 |
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Free Cash Flow 4 |
| $ | 58 |
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| $ | 70 |
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| $ | 58 |
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| $ | 80 |
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For earnings history and earnings-related data on REV Group, Inc. (REVG) click here.