Rev Group Shares Rise 17% After 4Q Profits Beat Expectations

Dow Jones12-12

By Katherine Hamilton

Rev Group shares advanced after the company posted a higher profit that exceeded analyst expectations despite lower sales because of the impact of a divestiture earlier in the year.

Shares were up 17% to $34.55 in recent trading Wednesday. The stock is up 88.2% overall this year.

The vehicle manufacturer posted a profit of $41.7 million for the fourth quarter, or 80 cents per share, ahead of the 46 cents per share expected by analysts polled by FactSet. It is also up from last year's fourth-quarter net income of $29.7 million, or 50 cents.

Stripping out certain one-time items, adjusted per-share earnings came to 51 cents, ahead of the 49 cents forecast by analysts, according to FactSet.

Net sales fell to $597.9 million, down from $693.3 million in the fourth quarter of 2023. The decline was largely driven by lower net sales in the recreational vehicles segment, the company said.

Rev Group saw gains in its specialty vehicles segment, the company said. Excluding a divestiture from Collins Bus Corp., which Rev divested in January, net sales in its specialty vehicles segment were up 3.6% compared with the prior-year quarter.

Rev guided for between $98 million and $125 million in profit for fiscal year 2025. It is also expecting between $2.30 billion and $2.40 billion in net sales, behind analyst expectations of about $2.46 billion.

Write to Katherine Hamilton at katherine.hamilton@wsj.com

(END) Dow Jones Newswires

December 11, 2024 12:19 ET (17:19 GMT)

Copyright (c) 2024 Dow Jones & Company, Inc.

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The stock is up 88.2% overall this year. \n</p>\n<p>\n  The vehicle manufacturer posted a profit of $41.7 million for the fourth quarter, or 80 cents per share, ahead of the 46 cents per share expected by analysts polled by FactSet. It is also up from last year's fourth-quarter net income of $29.7 million, or 50 cents. \n</p>\n<p>\n  Stripping out certain one-time items, adjusted per-share earnings came to 51 cents, ahead of the 49 cents forecast by analysts, according to FactSet. \n</p>\n<p>\n  Net sales fell to $597.9 million, down from $693.3 million in the fourth quarter of 2023. The decline was largely driven by lower net sales in the recreational vehicles segment, the company said. \n</p>\n<p>\n  Rev Group saw gains in its specialty vehicles segment, the company said. 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