REV Group Q4: Mixed Results, $250 Million Buyback, Dividend Boost & More
Fourth Quarter Results: REV Group, Inc. reported fourth-quarter net sales of $597.9 million, falling short of expectations, with significant declines in both the Specialty Vehicles and Recreational Vehicles segments. However, adjusted EPS of 51 cents exceeded analyst predictions.
Future Outlook and Shareholder Returns: The company anticipates FY25 net sales between $2.3 billion and $2.4 billion and has raised its quarterly cash dividend by 20%. Additionally, a new $250 million share repurchase program has been authorized to enhance shareholder value.
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REV Group Q4: Mixed Results, $250 Million Buyback, Dividend Boost & More
Fourth Quarter Results: REV Group, Inc. reported fourth-quarter net sales of $597.9 million, falling short of expectations, with significant declines in both the Specialty Vehicles and Recreational Vehicles segments. However, adjusted EPS of 51 cents exceeded analyst predictions.
Future Outlook and Shareholder Returns: The company anticipates FY25 net sales between $2.3 billion and $2.4 billion and has raised its quarterly cash dividend by 20%. Additionally, a new $250 million share repurchase program has been authorized to enhance shareholder value.
Footwear Company Caleres Faces Tough Q2 With Lowered FY24 Forecast As Back-To-School Sales Lag
Quarterly Performance: Caleres, Inc. reported second-quarter revenues of $683.32 million, missing expectations, and lowered its fiscal 2024 outlook for net sales and EPS due to operational challenges and weak seasonal demand.
Future Outlook: The company is implementing restructuring actions to save costs and aims to reduce debt, while also addressing issues from its ERP implementation that affected visibility in operations.
REV Group's Mixed Q3: Recreational Vehicle Struggles Drag Sales, Stock Dives
Quarterly Performance: REV Group, Inc. reported third-quarter net sales of $579.4 million, falling short of the expected $618.7 million, with significant declines in both Specialty Vehicles and Recreational Vehicles segments. Adjusted EBITDA increased to $45.2 million, and adjusted EPS of $0.48 surpassed estimates.
Future Outlook: The company has lowered its FY24 net sales outlook to between $2.35 billion and $2.45 billion, while also revising its adjusted net income forecast. Despite challenges in the Recreational Vehicles segment, CEO Mark Skonieczny noted improvements in profitability from fire and ambulance businesses.
Why Specialty Vehicles Manufacturer REV Group Shares Are Surging Today
- Company Performance: REV Group, Inc. reported second-quarter FY24 results with net sales beating expectations at $616.9 million.
- Segment Performance: Specialty Vehicles segment saw a 2.9% Y/Y increase in net sales, while Recreational Vehicles segment experienced a 30% Y/Y decline.
- Financials: Adjusted EBITDA was $37.5 million, adjusted EPS was $0.39, and the company closed the sale of Collins Bus Corporation for $303.0 million.
- Debt and Dividend: Net debt as of April-end was $181.8 million, and the board declared a quarterly cash dividend per share of $0.05.
- Outlook and Comments: REV Group lowered its FY24 net sales outlook, focusing on robust demand in Fire and Ambulance businesses and cost management in the Recreational Vehicles segment.
LQD, MYLD: Big ETF Inflows
REV Group Q4: Mixed Results, $250 Million Buyback, Dividend Boost & More
Fourth Quarter Results: REV Group, Inc. reported fourth-quarter net sales of $597.9 million, falling short of expectations, with significant declines in both the Specialty Vehicles and Recreational Vehicles segments. However, adjusted EPS of 51 cents exceeded analyst predictions.
Future Outlook and Shareholder Returns: The company anticipates FY25 net sales between $2.3 billion and $2.4 billion and has raised its quarterly cash dividend by 20%. Additionally, a new $250 million share repurchase program has been authorized to enhance shareholder value.
Footwear Company Caleres Faces Tough Q2 With Lowered FY24 Forecast As Back-To-School Sales Lag
Quarterly Performance: Caleres, Inc. reported second-quarter revenues of $683.32 million, missing expectations, and lowered its fiscal 2024 outlook for net sales and EPS due to operational challenges and weak seasonal demand.
Future Outlook: The company is implementing restructuring actions to save costs and aims to reduce debt, while also addressing issues from its ERP implementation that affected visibility in operations.
REV Group's Mixed Q3: Recreational Vehicle Struggles Drag Sales, Stock Dives
Quarterly Performance: REV Group, Inc. reported third-quarter net sales of $579.4 million, falling short of the expected $618.7 million, with significant declines in both Specialty Vehicles and Recreational Vehicles segments. Adjusted EBITDA increased to $45.2 million, and adjusted EPS of $0.48 surpassed estimates.
Future Outlook: The company has lowered its FY24 net sales outlook to between $2.35 billion and $2.45 billion, while also revising its adjusted net income forecast. Despite challenges in the Recreational Vehicles segment, CEO Mark Skonieczny noted improvements in profitability from fire and ambulance businesses.
Why Specialty Vehicles Manufacturer REV Group Shares Are Surging Today
- Company Performance: REV Group, Inc. reported second-quarter FY24 results with net sales beating expectations at $616.9 million.
- Segment Performance: Specialty Vehicles segment saw a 2.9% Y/Y increase in net sales, while Recreational Vehicles segment experienced a 30% Y/Y decline.
- Financials: Adjusted EBITDA was $37.5 million, adjusted EPS was $0.39, and the company closed the sale of Collins Bus Corporation for $303.0 million.
- Debt and Dividend: Net debt as of April-end was $181.8 million, and the board declared a quarterly cash dividend per share of $0.05.
- Outlook and Comments: REV Group lowered its FY24 net sales outlook, focusing on robust demand in Fire and Ambulance businesses and cost management in the Recreational Vehicles segment.
LQD, MYLD: Big ETF Inflows
