Welcome to our dedicated page for Rev Group news (Ticker: REVG), a resource for investors and traders seeking the latest updates and insights on Rev Group stock.
Overview of REV Group
REV Group Inc is a United States-based designer, manufacturer, and distributor of specialty vehicles and related aftermarket parts and services. With a legacy spanning over 60 years, the company has established itself as a major player in the manufacturing of vehicles that serve, move, and protect communities. Its robust product portfolio includes emergency vehicles, small buses, recreational vehicles, terminal trucks, and street sweepers. Industry-specific keywords such as "specialty vehicles", "emergency vehicles", and "commercial transportation" highlight the company's deep-rooted presence in critical sectors.
Business Segments and Operational Framework
The company is organized into two primary segments: the Specialty Vehicles Segment and the Recreational Vehicles Segment. The Specialty Vehicles Segment integrates the traditionally separate Fire & Emergency and Commercial operations, focusing on the sophisticated engineering and manufacturing of vehicles that fulfill essential public and commercial roles. Meanwhile, the Recreational Vehicles Segment caters to consumers seeking mobility solutions for leisure and adventure. This bifurcated structure allows REV Group to achieve operational efficiencies while addressing very distinct market needs.
Manufacturing Expertise and Scale
REV Group's operations are underpinned by state-of-the-art manufacturing facilities strategically located across North America. The company's dedication to innovative engineering, performance, and durability is evident in its extensive production capabilities. By leveraging advanced production techniques and a workforce of dedicated associates, REV Group ensures that its vehicles meet stringent safety and performance standards. The firm’s long-standing reputation is built on a commitment to quality and a robust aftermarket support network, which enhances the ownership experience for its diverse customer base.
Market Position and Competitive Landscape
Positioned as the largest manufacturer in North America of emergency vehicles and small buses, REV Group stands out in a competitive market by combining proven innovation with a rich heritage of reliability. Its ability to effectively serve multiple sectors—from public safety organizations, transportation institutions, to families and recreational enthusiasts—illustrates its versatile market approach. This broad scope allows the company to diversify its customer base, mitigate risks associated with market fluctuations, and maintain a resilient operational model. Its strategic partnerships with the best dealers further amplify its market presence and facilitate broad distribution channels.
Product Philosophy and Value Proposition
The company's value proposition centers on delivering vehicles that are not only durable and performance-driven but are also engineered to address unique industry challenges. REV Group’s products are crafted with a focus on safety, reliability, and versatility, ensuring that whether it is a vehicle designed for emergency response or a small bus built for public transportation, it meets the exacting standards required by today's demanding environments. Each vehicle reflects a blend of innovative design and functionality, tailored to meet the multifaceted needs of its global clientele.
Expertise, Innovation, and Industry Impact
Backed by decades of industry experience, REV Group continues to push the boundaries of vehicular design and manufacturing. The company's integration of advanced technologies with proven manufacturing methodologies enhances the overall performance and longevity of its products. Its commitment to operational excellence and staff expertise enables it to sustain a competitive edge, adapting to the evolving demands of global transportation and mobility. This expertise not only underscores its standing as an industry innovator but also reinforces the reliability and trust inherent in its brand.
Conclusion
In summary, REV Group stands as a multifaceted manufacturer with a rich history and significant market presence. Its strategic segmentation, commitment to quality manufacturing, and deep-rooted industry expertise collectively position it as an essential contributor to sectors that safeguard communities and support critical transportation needs worldwide. Investors and industry observers alike will find that REV Group offers a compelling case study in balanced, diversified manufacturing excellence and operational resilience.
REV Group, Inc. (NYSE: REVG) reported fourth quarter net sales of $589.9 million, a 4.3% decline year-over-year. However, full year sales rose 4.5% to $2.38 billion. The fourth quarter net income stood at $0.0 million but adjusted net income increased to $17.9 million. Adjusted EBITDA also improved to $31.1 million for the quarter. The company declared a quarterly dividend of $0.05 per share and reported a record backlog of $3.1 billion.
Outlook for fiscal 2022 anticipates net sales between $2.3 and $2.55 billion.
REV Group, Inc. (NYSE: REVG) has announced key agreements to advance alternative fuel-powered ambulances in the U.S. and internationally. Major contracts include sales to American Medical Response (AMR), Qatar's Hamad Medical Corporation (HMC), and a modification of the U.S. General Services Administration (GSA) contract for electric ambulances. AMR has purchased five electric ambulances, with an option for 25 more, while HMC is testing a zero-emission ambulance. These initiatives align with REV's commitment to lead in electric ambulance technology.
REV Group (NYSE: REVG) plans to release its fourth quarter and full year fiscal 2021 results on December 15, 2021, before market open. A live webcast will follow at 10:00 a.m. ET on the same day for discussing these results. Investors can access the webcast on www.revgroup.com. A telephonic replay of the conference call will be available three hours after the call until 11:59 p.m. ET on December 29, 2021. REV Group specializes in manufacturing specialty vehicles across three segments: Fire & Emergency, Commercial, and Recreation.
REV Group, Inc. (NYSE: REVG) announced a presentation at the virtual Baird 2021 Global Industrial Conference on November 9, 2021, at 2:00 p.m. Eastern Time. President and CEO Rod Rushing, CFO Mark Skonieczny, and VP of Investor Relations Drew Konop will present. Investors can listen to the webcast via the company's investor relations website, and materials will be available for 90 days post-presentation. REV Group specializes in manufacturing specialty vehicles and aftermarket parts across three segments: Fire & Emergency, Commercial, and Recreation.
REV Group announces the construction of an all-electric E-ONE Vector fire truck for the Mesa Fire and Medical Department in Mesa, AZ. The Vector features the longest electric pumping duration, enabling the use of four hose lines for four hours on a single charge. This initiative aligns with Mesa's Climate Action Plan aimed at achieving carbon neutrality by 2050, showcasing REV's commitment to innovative, environmentally friendly solutions. The delivery of this electric fire truck is expected in 2022, marking a significant step in the company's product offerings.
ElDorado National (California), a subsidiary of REV Group, announced the launch of its fully electric Axess bus at the APTA Expo from November 8-10, 2021. This bus is a remarkable achievement in zero-emissions technology, featuring a zero-corrosion 304-grade stainless steel structure and multiple configurations in lengths of 40’, 35’, and 32’. Safety features include 3-point passenger seat belts and enhanced driver visibility. The Axess is designed for various high-demand applications, marking a significant advancement in emission-free public transportation solutions.
REV Group reported third-quarter 2021 net sales of $593.3 million, a 1.9% increase from the prior year. Net income stood at $23.7 million, reversing a net loss of $3.6 million in Q3 2020. Adjusted EBITDA rose to $41.6 million, compared to $21.4 million in the same quarter last year. The company announced a $150 million share repurchase program and reported a record backlog of $2.7 billion due to strong order intake across all segments. Additionally, REV updated its fiscal year 2021 guidance, projecting net sales between $2.3 billion and $2.45 billion.
REV Group, Inc. (NYSE: REVG) announced that its President and CEO Rod Rushing, CFO Mark Skonieczny, and VP of Investor Relations Drew Konop will present at the Morgan Stanley Virtual Laguna Conference. The presentation is scheduled for 12:45 p.m. Eastern Time on September 13, 2021. Interested parties can access the live webcast through the investor relations section of the company’s website. An online replay will be available for 90 days after the presentation, with materials posted on their investor relations page.
REV Group (NYSE: REVG) and Lightning eMotors (NYSE: ZEV) have partnered to manufacture and deploy over 100 all-electric Type A school buses across the U.S. and Canada. This collaboration includes an initial order worth approximately $11 million over the next two years, with Lightning providing electric powertrains and charging infrastructure. The buses will feature advanced battery technology and V2G capabilities. Demand for zero-emission school buses is rising significantly, aided by upcoming infrastructure funding that includes $7.5 billion for electric vehicle charging.
REV Fire Group, part of REV Group (NYSE:REVG), announces the launch of the first fully electric North American-style fire apparatus. Developed with Emergency One Group LTD, this innovative truck features a 316 kW battery system, enabling prolonged electric operation for fire departments. It is designed to enhance sustainability while maintaining performance, including a backup diesel engine for extended operations. Customizable and built with locally sourced components, the new apparatus will be available for delivery in 2022 and is currently open for preorders.
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