Stock falls 8% as sales and earnings outlook reduced

  • REV Group shares drop after guidance cut
  • Sales and adjusted earnings outlook for 2024 reduced
  • Stock down 8% in early trading
  • Sales outlook now $2.45 billion to $2.55 billion
  • Adjusted earnings forecast lowered to $72 million to $90 million
  • Company swings to profit in fiscal first-quarter

Shares of REV Group fell after the company cut its sales and adjusted earnings outlook for 2024. The stock was down 8% at $19.10 in early trading. The maker of specialty vehicles and related aftermarket parts reduced its sales outlook for 2024 to $2.45 billion to $2.55 billion from a previous range of $2.6 billion to $2.7 billion. Adjusted earnings are now forecast to be $72 million to $90 million, down from prior guidance for $82 million to $99 million. The cuts came despite the company swinging to a profit in its fiscal first-quarter on higher sales, with top line and bottom line metrics beating analyst projections, according to FactSet.

Factuality Level: 8
Factuality Justification: The article provides factual information about REV Group cutting its sales and adjusted earnings outlook for 2024. It includes relevant details such as the percentage decrease in stock price, the new sales and earnings forecasts, and the company’s performance in the fiscal first quarter. The information is presented objectively without sensationalism or bias.
Noise Level: 3
Noise Justification: The article provides relevant information about REV Group’s recent performance, including details about the company’s sales and earnings outlook for 2024. It includes specific numbers and comparisons to previous figures, as well as mentions analyst projections. The article stays on topic and does not contain irrelevant or misleading information. However, it could benefit from more in-depth analysis or insights into the reasons behind the company’s revised outlook.
Financial Relevance: Yes
Financial Markets Impacted: REV Group
Presence Of Extreme Event: No
Nature Of Extreme Event: No
Impact Rating Of The Extreme Event: No
Rating Justification: The article pertains to financial topics as it discusses REV Group’s cut in sales and adjusted earnings outlook for 2024. However, there is no mention of an extreme event or its impact rating.
Public Companies: REV Group (REVG)
Key People:

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