Advertisement
REV Group Q3 Net Profit More Plunges; Trims FY22 Sales Outlook
(RTTNews) - REV Group, Inc. (REVG), a manufacturer of specialty vehicles, on Wednesday reported that net income for the third quarter plunged to $9.5 million or $0.16 per share from $23.7 million or $0.36 per share in the prior-year quarter.
Excluding items, adjusted net income for the quarter were $0.24 per share, compared to $0.37 per share in the prior-year quarter.
Net sales for the quarter edged up to $594.8 million from $593.3 million in the same quarter last year. The Street was looking for revenues of $592.62 million for the quarter.
Looking ahead to fiscal 2022, the company now projects net income in a range of $14 million to $25 million and adjusted net income in a range of $44 million to $54 million on net sales between $2.25 billion and $2.35 billion. The Street is looking for revenues of $2.34 billion for the quarter.
Previously, the company expected net income in the range of $14 million to $35 million and adjusted net income in the range of $43 million to $62 million on net sales between $2.25 billion and $2.40 billion.
The company's board of directors also declared a quarterly cash dividend of $0.05 per share of common stock, payable on October 14, 2022, to shareholders of record on September 30, 2022.
For more earnings news, earnings calendar, and earnings for stocks, visit rttnews.com
REV Group Q3 Results Top Estimates; Boosts FY23 Outlook
TSX Settles Lower As Trade Tensions Resurface
Crude Oil Prices Slip On Friday
Pound Drops As Trade Tensions Renew
Weighed Down By Tariff Uncertainty, Gold Slides
Swiss Market Ends Modestly Higher
Major European Markets Close Slightly Higher
