REV Group’s sales increase 1% for quarter

Freeman Staff

June 6, 2019

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 segment.

“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.