The earnings call presented a strong positive outlook for REV Group, Inc., with significant improvements in manufacturing efficiency, financial performance, and strategic investments driving growth. However, industry challenges, notably in the RV segment and tariff impacts, present ongoing hurdles.

Company Guidance

In the third quarter fiscal 2025 conference call for REV Group, Inc., the company reported significant financial metrics and guidance updates. Net sales reached $644.9 million, up from $579.4 million in the same quarter of 2024, reflecting a 20.5% increase excluding the divested ENC transit bus business. The adjusted EBITDA for the quarter was $64.1 million, a 66.1% increase from the previous year, driven by performance in the specialty vehicle segment. The company raised its fiscal 2025 revenue guidance to $2.4 billion to $2.45 billion and adjusted EBITDA to $220 million to $230 million, marking a 10% and 55% increase over fiscal 2024, respectively. Additionally, free cash flow guidance was increased to $140 million to $150 million, and the company highlighted a $20 million investment in expanding its Spartan Emergency Response facility in South Dakota, enhancing its fire apparatus production capacity by 40%.

Increased Fire and Ambulance Unit Shipments

Fire unit shipments increased by 11% and ambulance unit shipments increased by 7% year-over-year, reflecting improved manufacturing throughput and efficiency.

Major Facility Expansion

A $20 million facility expansion at Spartan Emergency Response in South Dakota is expected to increase fire apparatus production capacity by 40%, creating 50 new jobs.

Strong Financial Performance

Consolidated net sales increased by 20.5% excluding the impact of the divested bus business, with adjusted EBITDA growing by 66.1% year-over-year.

Improved Cash Flow and Balance Sheet

Year-to-date cash flow strengthened the balance sheet, allowing for strategic reinvestments and share repurchases, with free cash flow guidance raised to $140 million to $150 million.

Raised Fiscal 2025 Outlook

Full-year revenue and adjusted EBITDA guidance were raised, reflecting strong year-to-date performance and expected effective tariff management.

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
Dec 10, 2025	2025 (Q4)	0.78 / -	0.51	―	―	―
Sep 03, 2025	2025 (Q3)	0.63 / 0.79	0.48	64.58% (+0.31)
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)

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
Sep 03, 2025	$51.80	$58.32	+12.59%
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%

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.