REV Group Q4 Earnings Surge, Beat Street

(RTTNews) - Specialty vehicles maker REV Group, Inc. (REVG) Wednesday reported profit of $29.7 million, or $0.50 per share for the fourth quarter, significantly higher than $8.7 million, or $0.15 per share, in the same quarter a year ago, primarily helped by growth in sales.

Excluding one-time items, earnings were $31.7 million, or $0.53 per share, that beat the average estimate of analysts polled by Thomson-Reuters of $0.34 per share. Analysts' estimates typically exclude special items.

Sales for the quarter grew 11.2 percent to $693.3 million from $623.6 million last year, mainly due to an increase in sales in the Fire & Emergency and Commercial segments. The consensus estimate stood at $666.13 million

For fiscal 24, the company expects sales to be in the range of $2.6 billion- $2.7 billion. Analysts expect the company to report revenue of $2.63 billion.

The company's Board has declared a quarterly dividend of $0.05 per share, payable on January 12, to shareholders of record on December 26.