REV Group, Inc., disclosed their first-quarter net income to be $182.7 million, roughly $3.06 per share. This impressive figure includes a substantial gain of $257.5 million from the sale of Collins Bus, which was slightly offset by an increase in income tax expense. These results contrast with the net loss of $13.5 million (approximately $0.23 per share) they reported a year ago. Adjusting for some factors, REV Group's net income was actually $14.7 million, or $0.25 per share. For comparison, this figure was $6.9 million, or $0.12 per share in the same period the previous year. Interestingly, three analysts surveyed by Thomson Reuters had anticipated the company's share profit for the quarter to be $0.15. However, it’s important to note that analysts' estimates often exclude extraordinary items.
The company also reported consolidated net sales in the first quarter to be $586.0 million, showing a nominal increase of 0.4% compared to the previous year's $583.5 million. The uptick in consolidated net sales resulted largely from increased net sales in the Specialty Vehicles segment. This increment included price realization, but was slightly offset by a decrease in net sales in the Recreational Vehicles segment. The average revenue estimate provided by analysts was approximately $579.42 million.
