The earnings call highlighted strong financial and operational performance, particularly in the specialty vehicles segment, and successful cost management strategies. Despite challenges from tariffs and a strategic business exit, the company demonstrated effective cash flow management and updated guidance reflects confidence in continued growth.

Company Guidance

In the second quarter of fiscal 2025, REV Group, Inc. delivered robust performance, with consolidated net sales reaching $629.1 million, marking a 7.7% year-over-year increase when excluding the impact of a divested bus business. The company's specialty vehicles segment drove much of this growth, with a notable 12.2% increase in net sales compared to the prior year, thanks to higher unit production of fire apparatus and favorable ambulance unit mixes. Adjusted EBITDA for the quarter was $50 million, a 63.6% increase from the previous year. Despite facing a $10 million tariff impact anticipated in the second half, largely within the specialty vehicles segment, the company expects to mitigate these effects through enhanced throughput. Additionally, full-year revenue guidance was increased by $50 million to a range of $2.35 billion to $2.45 billion, reflecting strong year-to-date results and effective tariff management. Capital expenditure guidance was also raised to support continued investments in expanding production capabilities.

Increased Manufacturing Throughput

Year-over-year increase in manufacturing throughput at fire plants, resulting in top-line growth. Fire and emergency vehicle production increased by nearly 30% from 2022 run rates.

Improved Financial Performance

Consolidated net sales for Q2 2025 were $629.1 million, reflecting a 7.7% increase compared to the prior year when excluding divested businesses. Adjusted EBITDA increased by 63.6% year-over-year.

Cash Flow and Share Repurchase

Generated strong cash flow and repurchased approximately 2.9 million shares for $88 million, reflecting a balanced capital allocation strategy.

Specialty Vehicles Segment Growth

Specialty vehicles segment sales increased by 12.2% excluding divested businesses, driven by higher fire apparatus unit production and favorable ambulance unit mix.

Ambulance Group Milestone

Celebrated 50 years of the Ambulance Group, Wheel Coach, highlighting innovation and growth in ambulance manufacturing.

Updated Fiscal 2025 Guidance

Guidance updated to reflect strong year-to-date performance, projecting full-year revenue growth in the specialty vehicles segment to be in the low double digits.

REV Group (REVG) Earnings, Revenues Date & History

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REVG Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Sep 03, 2025	2025 (Q3)	0.63 / -	0.48	―	―	―
Jun 04, 2025	2025 (Q2)	0.57 / 0.70	0.39	79.49% (+0.31)
Mar 05, 2025	2025 (Q1)	0.27 / 0.40	0.25	60.00% (+0.15)
Dec 11, 2024	2024 (Q4)	0.49 / 0.51	0.53	-3.77% (-0.02)
Sep 04, 2024	2024 (Q3)	0.42 / 0.48	0.35	37.14% (+0.13)
Jun 05, 2024	2024 (Q2)	0.26 / 0.39	0.35	11.43% (+0.04)
Mar 06, 2024	2024 (Q1)	0.15 / 0.25	0.12	108.33% (+0.13)
Dec 13, 2023	2023 (Q4)	0.34 / 0.53	0.28	89.29% (+0.25)
Sep 13, 2023	2023 (Q3)	0.25 / 0.35	0.24	45.83% (+0.11)
Jun 08, 2023	2023 (Q2)	0.20 / 0.35	0.17	105.88% (+0.18)

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat

Missed

REVG Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Jun 04, 2025	$37.17	$42.88	+15.36%
Mar 05, 2025	$27.22	$27.86	+2.35%
Dec 11, 2024	$29.45	$33.52	+13.82%
Sep 04, 2024	$30.00	$26.68	-11.07%

Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.