REV Group, Inc. (NYSE:REVG) shares are trading higher after the company reported first-quarter FY25 results.
Net sales of $525.1 million beat the consensus of $492.77 million. Specialty Vehicles segment net sales fell 11.3%, while Recreational Vehicles segment net sales declined 8.5% Y/Y.
Excluding the impact of the Bus Manufacturing Businesses, total net sales increased 3.1% year over year, aided by growth of 8.7% in the Specialty Vehicles segment.
Adjusted EBITDA stood at $36.8 million versus $30.5 million a year ago quarter. Adjusted EPS of 40 cents exceeded the street view of 27 cents
As of January 31, 2025, net debt totaled $108.4 million, with $31.6 million cash on hand.
Dividend: The board of directors disclosed its regular quarterly cash dividend per share of $0.06, payable on April 11, 2025, to shareholders of record on March 28, 2025.
In the quarter, the company repurchased around 0.6 million of its shares for $19.2 million.
Outlook Reiterated: REV Group reaffirmed FY25 net sales forecast of $2.3 billion – $2.4 billion vs. an estimate of $2.35 billion and the adjusted net income of $116 million – $140 million.
Investors can gain exposure to the stock via iShares Microcap ETF (NYSE:IWC).
Price Action: REVG shares are up 7.11% at $29.24 premarket at the last check Wednesday.
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