REV Group Q1 Adj. Net Income Rises - Quick Facts

(RTTNews) - REV Group, Inc. (REVG) reported first quarter net income of $182.7 million, or $3.06 per share, which included a $257.5 million gain on the sale of Collins Bus, partially offset by higher income tax expense, compared to a net loss of $13.5 million, or $0.23 per share, a year ago. Adjusted net income was $14.7 million, or $0.25 per share, compared to $6.9 million, or $0.12 per share, prior year. On average, three analysts polled by Thomson Reuters expected the company to report profit per share of $0.15, for the quarter. Analysts' estimates typically exclude special items.

Consolidated net sales in the first quarter were $586.0 million, an increase of 0.4% compared to $583.5 million, previous year. The company said the increase in consolidated net sales was primarily due to higher net sales, including price realization, within the Specialty Vehicles segment, partially offset by lower net sales in the Recreational Vehicles segment. Analysts on average had estimated $579.42 million in revenue.

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