REV Group, Inc. (REVG) revealed a profit for its second quarter that increased from the same period last year and beat the Street estimates.
The company's bottom line came in at $19 million, or $0.38 per share. This compares with $15.2 million, or $0.28 per share, last year.
Excluding items, REV Group, Inc. reported adjusted earnings of $35.4 million or $0.70 per share for the period.
Analysts on average had expected the company to earn $0.57 per share. Analysts' estimates typically exclude special items.
The company's revenue for the period rose 2.0% to $629.1 million from $616.9 million last year.
REV Group, Inc. earnings at a glance (GAAP) :
-Earnings: $19 Mln. vs. $15.2 Mln. last year.-EPS: $0.38 vs. $0.28 last year.-Revenue: $629.1 Mln vs. $616.9 Mln last year.
The Board will pay a quarterly dividend of $0.06 per share on July 11 to shareholders of record as of June 27.
Looking ahead, for the full year, REV Group has revised down its earnings guidance while raising its sales outlook.
The company now expects net income of $88 million to $107 million, less than the prior guidance of $98 million to $125 million.
Excluding items, earnings are now anticipated to be $112 million to $130 million against earlier expectations of $116 million to $140 million.
The Group now projects sales of $2.350 billion to $2.450 billion, compared with the previous guidance of $2.300 billion to $2.400 billion.
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