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REV Group, Inc. - REVG STOCK NEWS

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.

REV Group, Inc. (symbol: REVG) is a prominent United States-based designer, manufacturer, and distributor of specialty vehicles and related aftermarket parts and services. The company is renowned for its role in providing customized vehicle solutions across various applications, including essential services, industrial and commercial needs, and consumer leisure.

Core Business and Operations:

REV Group is structured into three primary operating segments:

  • Fire & Emergency: The largest revenue-generating segment, encompassing the manufacturing of fire apparatus and ambulance products that are critical for municipal and government emergency services.
  • Commercial: This segment focuses on producing vehicles used for industrial and commercial purposes, such as small buses, terminal trucks, and street sweepers.
  • Recreation: Known for its leading position in the recreational vehicle market, REV Group caters to consumers seeking leisure and travel solutions.

The company's products are marketed to a wide array of clients, including municipalities, government agencies, private contractors, consumers, and industrial and commercial end-users. With a robust manufacturing footprint, REV Group operates 14 world-class facilities in North America and boasts a workforce of over 4,500 dedicated associates.

Recent Achievements and Current Projects:

REV Group manufactures more than 16,000 specialty vehicles annually, and its portfolio includes brands with over 60 years of proven history. The company is committed to supporting over 300,000 of its vehicles that are in daily use, ensuring they deliver performance, durability, and innovation. Partnerships with industry-leading dealers help REV Group provide an unparalleled ownership experience to its customers.

Financial Condition and Market Presence:

REV Group's financial health is bolstered by a diversified revenue stream, with significant income derived from the Fire & Emergency segment. The company operates not only in the United States but also in Canada and various international markets, emphasizing its global reach and impact.

Partnerships and Products:

REV Group's partnerships with top dealers and the continuous drive for innovation make it a formidable player in the specialty vehicle market. The company's range of products is extensive, catering to essential services, industrial needs, and consumer leisure, highlighting its versatility and commitment to meeting diverse market demands.

News

REV Group, Inc. Announces Proposed Secondary Offering of Common Stock and Concurrent Share Repurchase

Rhea-AI Summary
REV Group, Inc. (REVG) announced a public offering of 12,000,000 shares of common stock by certain selling stockholders. The company is not selling any shares in the offering. Baird, Goldman Sachs & Co. LLC, and Morgan Stanley are the joint book-running managers. REV Group plans to repurchase 6,000,000 shares from the underwriters using cash on hand and borrowings.
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REV Group, Inc. to Exit School and Transit Bus Manufacturing and Reorganize Into Two Reporting Segments; Announces a Special Cash Dividend

Rhea-AI Summary
REV Group, Inc. (NYSE: REVG) has completed the sale of its school bus business, Collins Bus Corporation, to Forest River Bus, LLC for $303.0 million in cash. The company will also be exiting transit bus manufacturing by winding down operations at its ElDorado National-California business. REV Group expects to generate at least $250 million in net cash proceeds from these strategic actions, using it to return approximately $180 million of cash to shareholders in the form of a special cash dividend and the remainder to pay down debt under its ABL credit facility. The company will be reorganized into two reporting segments, creating a more focused operating structure that provides opportunities for growth, consistent cash generation, and improved margin performance.
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E-ONE Celebrates 50 Years of Fire Industry Leadership and Innovation

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E-ONE, a subsidiary of REV Group Inc., is celebrating its 50th anniversary in 2024 with a year-long celebration, including honoring customers and employees, special events, and the unveiling of a new fire truck badge and commemorative challenge coin. The company has a rich history of pioneering innovation in the fire industry and has achieved significant milestones over the past 50 years, growing from 25 employees to over 1,000.
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REV Group Announces Kathleen M. Steele as New Independent Board Member

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REV Group, a leading manufacturer of specialty vehicles, appoints Kathleen M. Steele as an independent member of its Board of Directors, effective immediately. Steele brings extensive investment management and financial leadership expertise to the company, with a background in private investment firms and investment banking. Her appointment is in anticipation of Donn Viola's retirement at this year's Annual Meeting of Stockholders in February. Steele's broad experience is expected to drive value creation for REV Group. (NYSE:REVG)
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Mesa Unveils Arizona’s First All-Electric North American Style Fire Truck by E-ONE

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Mesa's all-electric fire truck, manufactured by E-ONE®, a subsidiary of REV Group, Inc. and stationed at Fire Station 221 in southeast Mesa, is the first fully electric fire North American style engine in Arizona. The truck will reduce toxin exposure for firefighters, support the City of Mesa's Climate Action Plan, and help achieve carbon neutrality by 2050. It excels at sustainability and performance with low to no carbon emissions, less noise pollution, range extension for prolonged power needs, and life-long batteries. The new fire truck can pump four hose lines at 750 gallons per minute for four hours on a single charge, with the station equipped with an electrical charger capable of fully recharging the fire truck in approximately 3 and a half hours. Funding for Mesa's all-electric fire truck is from 2018 bonds approved by voters and the City's General Fund.
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REV Group, Inc. Reports Strong Fiscal 2023 Fourth Quarter and Full Year Results, Provides Fiscal 2024 Full Year Guidance

Rhea-AI Summary
REV Group, Inc. (NYSE: REVG) reported fourth quarter net sales of $693.3 million, up 11.2% from the previous year, and full year net sales of $2,638.0 million, up 13.1% from the previous year. Net income for the fourth quarter was $29.7 million, and for the full year was $45.3 million. Adjusted EBITDA for the fourth quarter was $54.0 million, and for the full year was $156.6 million. The company's cash provided by operating activities for the full year was $126.5 million, with a year-end Net Debt of $128.7 million.
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Fleetwood Family of Brands Introduces the Xcursion & Xpedition Class B Motorhomes

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Fleetwood Family of brands (Fleetwood RV) proudly announces the launch of the Fleetwood® Xcursion™ and Holiday Rambler® Xpedition™ Class B Motorhomes. These new products are designed to set a new standard for outdoor adventure enthusiasts and provide exceptional versatility intended to meet the diverse needs of its customers. The Xcursion and Xpedition showcase meticulous attention to detail, offering unique and optimized living experiences. The products build on the Fleetwood Family’s 75-year legacy of excellence and empower travelers to choose the floorplan that best suits their individual preferences and travel style.
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REV Group Recognized as 2024 Military Friendly® Employer

Rhea-AI Summary
REV Group, Inc. (REVG) has been recognized as a 2024 Bronze Military Friendly Employer and Military Friendly Spouse Employer by VIQTORY, a veteran-owned military marketing company. This marks the first year REV Group has been recognized for demonstrating its commitment to the military community and providing a positive work environment for military Veterans. REV Group is a leading manufacturer of specialty vehicles, including fire apparatus, ambulances, school buses, and recreational vehicles. The company hires an average of 120-140 active duty or military Veterans each year, showcasing its dedication to supporting the military community.
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REV Group to Release Fourth Quarter 2023 Earnings on Wednesday, December 13, 2023

Rhea-AI Summary
REV Group, Inc. (REVG) plans to release its Q4 fiscal 2023 results on December 13, 2023, followed by a live webcast at 10:00 a.m. ET. Investors can access the webcast on www.revgroup.com and the conference call by dialing 1-877-407-9208 (domestic) or 1-201-493-6784 (international). A telephonic replay will be available until December 27, 2023.
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REV Group to Present at Baird’s 2023 Global Industrials Conference

Rhea-AI Summary
REV Group, Inc. (NYSE:REVG) will participate in the Baird 2023 Global Industrials Conference in Chicago, IL on November 7, 2023. Mark Skonieczny, president and CEO, and Drew Konop, VP Investor Relations & Corporate FP&A, will be present. The presentation will be available on the REV Group investor website at investors.revgroup.com.
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FAQ

What is the current stock price of REV Group (REVG)?

The current stock price of REV Group (REVG) is $31.78 as of December 20, 2024.

What is the market cap of REV Group (REVG)?

The market cap of REV Group (REVG) is approximately 1.7B.

What does REV Group, Inc. specialize in?

REV Group specializes in designing, manufacturing, and distributing specialty vehicles for essential services, industrial applications, and consumer leisure.

What are the main operating segments of REV Group?

REV Group's primary operating segments are Fire & Emergency, Commercial, and Recreation.

Who are REV Group’s main customers?

REV Group's customers include municipalities, government agencies, private contractors, consumers, and industrial and commercial end-users.

Where does REV Group operate?

REV Group operates primarily in the United States but also has a presence in Canada and other international markets.

How many vehicles does REV Group manufacture annually?

REV Group manufactures over 16,000 specialty vehicles each year.

What is the largest revenue-generating segment for REV Group?

The Fire & Emergency segment is the largest revenue-generating segment, encompassing fire apparatus and ambulance products.

How many manufacturing facilities does REV Group have?

REV Group operates 14 world-class manufacturing facilities.

How many employees work at REV Group?

REV Group employs over 4,500 dedicated associates.

What is the history behind REV Group's brands?

REV Group's brands represent industry innovators and iconic names with over 60 years of proven history.

How does REV Group support its vehicles in use?

REV Group is committed to supporting over 300,000 of its vehicles in daily use, ensuring they deliver performance, durability, and innovation.

Stock REVG logo
REV Group, Inc.

NYSE:REVG

REVG Rankings

#2094 Ranked by Market Cap
#1923 Ranked by Dividends

REVG Stock Data

1.67B
50.76M
2.37%
103.14%
5.61%
Farm & Heavy Construction Machinery
Motor Vehicles & Passenger Car Bodies
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United States of America
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