REV Clocks 18% Revenue Growth In Q2 Amid Macro Headwinds
Portfolio Pulse from Nabaparna Bhattacharya
REV Group reported Q2 FY23 sales growth of 18.2% YoY to $681.2 million, beating consensus estimates. Adjusted EPS of $0.35 also surpassed expectations. The company declared a quarterly cash dividend of $0.05 per share and increased its FY23 outlook. Additionally, the board approved a new $175 million stock buyback program.
June 08, 2023 | 2:11 pm
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POSITIVE IMPACT
REV Group's Q2 results exceeded expectations, with strong sales growth and increased outlook for FY23. The company also declared a dividend and approved a new stock buyback program.
REV Group's strong Q2 results, increased FY23 outlook, dividend declaration, and new stock buyback program are all positive factors that are likely to boost investor confidence and drive the stock price up in the short term. The stock is already up 13.45% in premarket trading, indicating a positive market reaction to the news.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100