REVG - REV Group stock rises on earnings beat upbeat EBITDA guide

2023-03-08 08:44:03 ET

REV Group ( NYSE: REVG ) shares rose sharply on Wednesday after the company posted a surprise quarterly profit and above-consensus revenue.

For the company’s fiscal first quarter, a report of $0.12 in earnings per share came in $0.13 better than analyst expectations. Meanwhile, $583.5M in revenue rose about the bar set by the Street by $86.15M.

“First quarter results reflect an improving operating environment as the efforts of our team to manage through an inconsistent supply chain take hold,” Interim President and CEO Mark Skonieczny said. “ We continue to address inefficiencies within the fire group that have weighed on the segment performance, and I have confidence in our ability to increase its profitability throughout the year.”

The company reaffirmed its full-year guidance including a net sales guide of between $2.3B and $2.5B billion versus the $2.42B consensus. Management offered an adjusted EBITDA forecast of $110M to $130M, suggesting upside to the $115M consensus.

Shares of the Wisconsin-based manufacturer 4.6% on light volume in premarket trading on Wednesday.

Read more on the details of the Q1 print .

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