Specialty Vehicles Maker REV Group Shares Jump After Beat & Raise Quarterly performance
Portfolio Pulse from Nabaparna Bhattacharya
REV Group, Inc. (NYSE:REVG) reported a 14.3% YoY sales growth in Q3 FY23 to $680 million, beating the consensus of $627.16 million. Adjusted EPS of $0.35 also beat the consensus of $0.23. The company's backlog increased to $4.136 billion, compared with $3.936 billion a year ago. REV Group declared a quarterly cash dividend of $0.05 per share. The company increased its FY23 outlook, expecting sales in the range of $2.55 billion-$2.6 billion and adjusted EBITDA of $135 million-$145 million.
September 13, 2023 | 12:53 pm
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REV Group reported strong Q3 FY23 results, beating sales and EPS consensus. The company also raised its FY23 outlook and declared a dividend, leading to a premarket stock price increase.
REV Group's strong Q3 results and raised FY23 outlook indicate a positive financial performance, which is likely to boost investor confidence and drive the stock price up in the short term.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100