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.
Actor Ian Somerhalder has selected Fleetwood RV as his family's mobile home, traveling across the nation in a luxury Discovery LXE 40M model during 2022. As he promotes the recently launched Brother's Bond bourbon, he enjoys the flexibility of traveling in an RV. Fleetwood RV, a brand under REV Group (NYSE: REVG), is noted for its quality and family-friendly designs, essential for Somerhalder’s travels. The Discovery LXE model features numerous luxurious amenities, reinforcing Fleetwood's reputation in the RV market.
REV Group's subsidiary, ElDorado National (ENC), has secured its inaugural order of six Axess Battery Electric Buses (BEB) from First Transit for Emory University in Atlanta. This order marks an expansion of their partnership, enhancing the university's existing fleet of 36 low-floor shuttle buses. Incorporating Cummins' battery-electric system, the ENC Axess BEB aims to support Emory's sustainability goals as part of the Race to Zero initiative for carbon neutrality. The Axess BEB is designed for various transit applications, featuring flexible charging options and customizable configurations.
REV Recreation Group reported record sales at the 2022 Florida RV SuperShow held from January 19 to 23. The company showcased over 70 models across various brands including American Coach®, Fleetwood RV®, and Holiday Rambler®. Notably, Renegade RV achieved record sales with its luxury models. Fleetwood RV, Holiday Rambler, and American Coach sold over 100 units, marking a historic performance. Attendance surpassed 20,000 on opening day, highlighting strong consumer interest. This success may positively impact REV Group's stock performance.
REV Recreation Group, a leader in luxury RV manufacturing, has announced advancements in its 2022 models across brands like Fleetwood RV, American Coach, and Renegade RV. Notable features include a patent-pending dinette design, lithium battery technology, and innovative living areas tailored to customer needs. The company aims to enhance user experiences through cutting-edge technology while expanding its customer base in the recreational vehicle sector.
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.
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