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REV Group's Fiscal Q3 Adjusted Earnings Rise, Sales Fall; Lowers Fiscal 2024 Sales Outlook -- Shares Drop
2024-09-04 19:46
07:46 AM EDT, 09/04/2024 (MT Newswires) -- REV Group (REVG) reported fiscal Q3 adjusted earnings Wednesday $0.48 per diluted share, up from $0.35 a year earlier.
Analysts polled by Capital IQ expected $0.42.
Net sales for the quarter ended July 31 were $579.4 million, down from $680 million a year earlier.
Analysts surveyed by Capital IQ expected $618.7 million.
The company said it now expects fiscal 2024 net sales of $2.35 billion to $2.45 billion, down from its previous guidance of $2.40 billion to $2.50 billion. Analysts surveyed by Capital IQ are expecting $2.44 billion.
REV said it has maintained a quarterly dividend of $0.05 per share, payable Oct. 11 to shareholders of record on Sept. 27.
Shares of the company were down nearly 13% in recent Wednesday premarket activity.
Price: 26.30, Change: -3.91, Percent Change: -12.94
