REV Group's Mixed Q3: Recreational Vehicle Struggles Drag Sales, Stock Dives
Portfolio Pulse from Lekha Gupta
REV Group, Inc. (NYSE:REVG) reported mixed Q3 results with net sales missing expectations and a significant decline in the Recreational Vehicles segment. Despite a rise in adjusted EPS, the company lowered its FY24 outlook. REVG shares fell 10.7% premarket.
September 04, 2024 | 12:35 pm
News sentiment analysis
Sort by:
Ascending
NEGATIVE IMPACT
Investors can gain exposure to REV Group through the Procure Disaster Recovery Strategy ETF (FIXT), which may be impacted by REVG's stock decline.
FIXT holds REV Group, and the decline in REVG's stock could negatively impact the ETF's performance. However, the overall impact depends on the ETF's diversification and other holdings.
CONFIDENCE 80
IMPORTANCE 50
RELEVANCE 50
NEGATIVE IMPACT
Cambria Micro And SmallCap Shareholder Yield ETF (MYLD) includes REV Group, which may affect its performance due to REVG's stock decline.
MYLD holds REV Group, and the decline in REVG's stock could negatively impact the ETF's performance. The extent of the impact depends on the ETF's diversification and other holdings.
CONFIDENCE 80
IMPORTANCE 50
RELEVANCE 50
NEGATIVE IMPACT
REV Group's Q3 results showed a decline in net sales, particularly in the Recreational Vehicles segment, leading to a 10.7% drop in stock price. Despite an EPS beat, the FY24 outlook was lowered.
The significant decline in the Recreational Vehicles segment and the lowered FY24 outlook are likely to negatively impact investor sentiment, causing the stock price to drop. The EPS beat is a positive, but overshadowed by the sales miss and outlook revision.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100