REV Group Jumps 9% After Earnings Beat Estimates, Increased Outlook

(RTTNews) - Shares of REV Group, Inc. (REVG), a maker of specialty vehicles are rising more than 9% Wednesday morning after reporting upbeat third-quarter results. The company also raised its full-year revenue outlook.

Net income in the third quarter increased to $14.9 million, or $0.25 per share, from $9.5 million or $0.16 per share in the same quarter a year ago.

Excluding one-time items, earnings were $20.9 million or $0.35 per share, that beat the average estimate of analysts polled by Thomson-Reuters of $0.23 per share.

Net sales in the third quarter were $680.0 million, an increase of 14.3% from $594.8 million last year. The consensus estimate was for $627.16 million.

Looking forward, the company has raised its full-year revenue outlook to $2.55 billion - $2.6 billion from $2.45 billion - $2.55 billion guided earlier.

REVG is at $14.11 currently. It has traded in the range of $9.85 - $16.38 in the last 52 weeks.