REV Group Inc. (REVG) saw its shares soar 8.77% in Wednesday's pre-market trading, following the company's record fiscal first-quarter 2025 results and reaffirmed full-year guidance.
The specialty vehicle manufacturer reported robust financial performance, with net sales of $525.1 million, outpacing analysts' estimates of $492.8 million. The strong top-line growth was primarily driven by higher shipments of fire apparatus, a favorable mix of ambulance units, and pricing actions in the company's Specialty Vehicles segment.
REV Group's adjusted EBITDA for the quarter stood at an impressive $36.8 million, significantly exceeding Wall Street's expectations of $27.8 million. The Specialty Vehicles segment's adjusted EBITDA surged 116% compared to the prior-year quarter, benefiting from increased sales volume, favorable product mix, and pricing realization.
The company's adjusted earnings per share (EPS) of $0.40 also outperformed analysts' estimates of $0.27, reflecting the company's continued operational excellence and cost management initiatives.
REV Group's backlog remained robust at $4.49 billion as of January 31, 2025, driven by strong demand for fire apparatus and ambulance units. The company reaffirmed its fiscal 2025 guidance, expecting adjusted net income between $116 million and $140 million on net sales of $2.30 billion to $2.40 billion.
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