Rev Group Inc (NYSE:REVG) stock rose 0.42% (As on December 12, 11:32:05 AM UTC-4, Source: Google Finance) after the company posted better than expected results for the fourth quarter of FY 24. Adjusted EBITDA in the fourth quarter 2024 was $49.6 million, compared to $54.0 million in the fourth quarter 2023. Specialty Vehicles segment net sales were $439.9 million in the fourth quarter 2024, a decrease of 8.1%, from $478.8 million in the fourth quarter 2023. Specialty Vehicles segment backlog at the end of the fourth quarter 2024 was $4,179.8 million compared to $4,076.7 million at the end of the fourth quarter 2023. The backlog at the end of the fourth quarter 2023 included $220.3 million related to Collins, and $167.5 million related to ElDorado National (California) (“ENC”), which was divested in the fourth quarter of fiscal year 2024. Recreational Vehicles segment net sales were $158.1 million in the fourth quarter 2024, a decrease of 26.5%, from $215.2 million in the fourth quarter 2023. The decrease in net sales compared to the prior year quarter was primarily due to decreased unit shipments and increased discounting. The Recreational Vehicles segment backlog at the end of the fourth quarter 2024 was $291.5 million, a decrease of $93.7 million compared to $385.2 million at the end of the fourth quarter 2023.

REVG in the fourth quarter of FY 24 has reported the adjusted earnings per share of 51 cents, beating the analysts’ estimates for the adjusted earnings per share of 50 cents, according to the Zacks Consensus Estimate. The company had reported the adjusted revenue decline of 6.4 percent to $597.9 million in the fourth quarter of FY 24, beating the analysts’ estimates for revenue by 0.27%. Net sales for the fourth quarter 2023 included $54.2 million attributable to Collins Bus Corporation which was divested on January 26, 2024. The decrease, excluding the impact of Collins, was primarily due to lower net sales in the Recreational Vehicles segment, partially offset by higher net sales in the Specialty Vehicles segment.

For fiscal 2025, net sales are expected to be in the range of $2.3 to $2.4 billion, net income are expected to be in the range of $98.0 to $125.0 million, Adjusted EBITDA are expected to be in the range of $190.0 to $220.0 million, Adjusted Net Income are expected to be in the range of $116.0 to $140.0 million and Free Cash Flow in the range of $90.0 to $110.0