Shares of REV Group, Inc. (REVG) surged approximately 16% on Wednesday morning as the company unveiled its fourth-quarter financial results. The company reported earnings of $41.7 million, or $0.80 per share, up from $29.7 million, or $0.50 per share, a year ago.
As of now, REV's shares are trading higher by 16.47%, or $4.83, at $34.58 on the New York Stock Exchange.
On an adjusted basis, the net income for the quarter was $0.51 per share, slightly down from $0.53 per share in the corresponding period last year.
Analysts surveyed by Thomson Reuters had on average predicted the company to post earnings of $0.49 per share for the quarter. Generally, these analyst forecasts exclude special items.
Nevertheless, net sales for the quarter declined to $597.9 million from $693.3 million in the previous year.
