REV Group, Inc. (REVG) Tops Q3 EPS by 10c, Revenues Beat

REV Group, Inc. (NYSE: REVG) reported Q3 EPS of $0.10, $0.10 better than the analyst estimate of $0.00. Revenue for the quarter came in at $582.2 million versus the consensus estimate of $563.26 million.

• Third quarter net sales of $582.2 million compared to $617.0 million in the prior year quarter
• Third quarter net loss of $3.6 million compared to net income of 5.6 million in the prior year quarter
• Third quarter Adjusted EBITDA1 of $21.4 million compared to $33.5 million in the prior year quarter
• Third quarter Adjusted Net Income1 of $6.3 million compared to Adjusted Net Income of $13.6 million in the prior year quarter
• Year-to-date net cash provided by operating activities of $25.0 million, compared to net cash provided of $22.0 million in the prior year period
• Completed the sale of two shuttle bus businesses for approximately $49 million in cash effective May 8, 2020

“Throughout the quarter we experienced lingering supply chain disruptions and employee absenteeism related to COVID-19 that impacted operations and shipments. Despite some uncertainties in incoming order rates, we have seen stabilization in many of our end markets,” REV Group Inc. President and CEO Rod Rushing said. “We have made progress on the operating model and design of our business to align our leadership and define our operating cadence. To accelerate the rate of change toward delivering sequential improvements within our most challenged businesses, we implemented change programs with weekly governance to ensure transparency to our progress.”

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

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