MILWAUKEE — Net sales increased
1% during the second quarter for REV Group, Inc. when compared to
the specialty vehicle manufacturer’s second quarter last year.
Consolidated net sales in the second quarter were $615 million, an
increase of 1% compared to $608.9 million during the same period in
2018. According to a release from the company Wednesday, the
increase in consolidated net sales was driven by continued sales
growth in both the commercial and recreation segments, which was
partially offset by lower net sales in the fire and emergency
“Our results through the first half of fiscal 2019 were generally
in-line with our expectations. The actions we took over the last
several quarters to improve our focus on organic growth and
profitability are contributing to better results in most of our
businesses,” said Tim Sullivan, CEO REV Group, Inc.
The Milwaukee-based company’s second quarter net income was $5.6
million, or $0.09 per diluted share, compared to net income of $7.4
million, or $0.11 per diluted share, in the second quarter 2018. The
decline in net income was primarily due to higher interest expense,
according to the report. Adjusted net income for the second quarter
2019 was $15.2 million, or $0.24 per diluted share, compared to
adjusted net income of $15.5 million, or $0.24 per diluted share, in
the second quarter 2018.