Fiscal Third Quarter 2025 Highlights - REV Group experienced momentum in year-over-year throughput increases[7] - The company broke ground for a $20 million investment in the Brandon, SD facility[7] - REV Group completed the sale of Lance Camper[7] - The company demonstrated strong cash generation and a solid balance sheet position[7] - REV Group raised its fiscal year 2025 outlook[7] Third Quarter Fiscal 2025 Consolidated Results - Net sales increased to $644.9 million in Q3 2025, compared to $579.4 million in Q3 2024[9], a $109.7 million or 20.5% increase excluding Bus Manufacturing Businesses[13] - Adjusted EBITDA increased to $64.1 million in Q3 2025, compared to $45.2 million in Q3 2024[9], a $25.5 million or 66.1% increase excluding Bus Manufacturing Businesses[13] Full Year Fiscal 2025 Outlook - REV Group updated its net sales guidance to $2.40 to $2.45 billion, compared to the prior guidance of $2.35 to $2.45 billion and the 2024 actual of $2.38 billion[27] - The company updated its Adjusted EBITDA guidance to $220 to $230 million, compared to the prior guidance of $200 to $220 million and the 2024 actual of $162.8 million[27] - REV Group updated its Free Cash Flow guidance to $140 to $150 million, compared to the prior guidance of $100 to $120 million[27] Balance Sheet & Other Financial Items - Year-to-date cash from operations totaled $164.2 million[25] - Net debt was $54.0 million[25] - Trade working capital decreased by $56.6 million compared to 4Q24[26] - $117.6 million cash was returned to shareholders year to date[26]

FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended July 31, 2025 UNITED STATES SECURITIES AND EXCHANGE COMMISSION OR WASHINGTON, DC 20549 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission File Number: 001-37999 REV Group, Inc. (Exact Name of Registrant as Specified in its Charter) Delaware 26-3013415 (State or other jurisdiction of incorporation or organization) 245 ...

2 REV Group, Inc. Adjusted Net Income, Adjusted EBITDA, and Free Cash Flow are non-GAAP measures that are reconciled to their nearest GAAP measure later in this release. Exhibit 99.1 • Third quarter net sales of $644.9 million compared to $579.4 million in the prior year quarter, the latter of which included $44.2 million related to the Bus Manufacturing Businesses1 o Excluding the impact of the Bus Manufacturing Businesses, net sales increased $109.7 million, or 20.5% compared to the prior year quarter • T ...

Core Viewpoint - The content emphasizes the importance of conducting personal due diligence and consulting competent advisors before making any financial decisions, particularly in the context of investments and trading activities [1]. Group 1 - The website provides general news, personal analysis, and third-party content intended for educational and research purposes [1]. - It explicitly states that the information does not constitute any recommendation or advice for investment actions [1]. - Users are advised to perform their own research and consider their financial situation before making decisions [1]. Group 2 - The website includes information about complex financial instruments such as cryptocurrencies and contracts for difference (CFDs), which carry a high risk of losing money [1]. - It encourages users to understand how these instruments work and the associated risks before investing [1].

Group 1 - REV Exploration Corp. has completed the acquisition of the Aden Dome Natural Hydrogen Project in Alberta, receiving final approval from the TSX Venture Exchange [1][2] - The acquisition was conducted on an arm's-length basis, with no finder's fees paid, and all conditions of the purchase agreement have been satisfied, including the issuance of 300,000 common shares at a deemed price of C$0.27 per share [2] - With this acquisition, REV now holds a 100% interest in the Aden Dome project and plans to proceed with exploration activities [2][3] Group 2 - REV Exploration Corp. is a mineral exploration company with a portfolio that includes gold and battery metal properties in Quebec, as well as significant exposure to the Natural Hydrogen sector in Alberta and Saskatchewan [3] - The company has an option to acquire 100% of a series of PNG leases along the Alberta-Montana border, including the drill-ready Aden Dome, and holds a significant equity position in MAX Power Mining Corp., which has the largest permitted land package for Natural Hydrogen in Saskatchewan [3]

Core Viewpoint - REV Group (REVG) has shown strong stock performance, with a 56.9% increase since the beginning of the year, outperforming the Zacks Transportation sector and the Zacks Transportation - Services industry [1][2]. Financial Performance - REV Group has consistently beaten earnings estimates, reporting EPS of $0.7 against a consensus estimate of $0.59 in its last earnings report [2]. - For the current fiscal year, REV Group is projected to achieve earnings of $2.45 per share on revenues of $2.41 billion, reflecting a 54.09% increase in EPS and a 1.07% increase in revenues [3]. - The next fiscal year forecasts earnings of $3.36 per share on revenues of $2.6 billion, indicating a year-over-year change of 37.01% in EPS and 7.89% in revenues [3]. Valuation Metrics - REV Group has a Value Score of B, a Growth Score of A, and a Momentum Score of F, resulting in a combined VGM Score of B [6]. - The stock trades at 20.4 times the current fiscal year EPS estimates, which is above the peer industry average of 18.8 times [6]. - On a trailing cash flow basis, the stock trades at 26.1 times compared to the peer group's average of 7.5 times, indicating a premium valuation [6]. Zacks Rank - REV Group holds a Zacks Rank of 1 (Strong Buy) due to rising earnings estimates, suggesting potential for further stock price appreciation [7]. - The combination of a Zacks Rank of 1 or 2 and Style Scores of A or B positions REV Group favorably for investors [7].

Group 1 - REV Group, a specialty vehicle manufacturer, reported growth in its topline after experiencing consecutive declines in the past four quarters [1] - The growth was primarily attributed to a double-digit contraction in previous periods [1] Group 2 - The company is engaged in the technology, industrial, and conglomerate sectors, focusing on businesses with strong foundations for long-term success [1] - The analysis emphasizes a combination of financial examination and narrative to provide insights into market performance [1]

Group 1 - The recovery of REV Group, Inc. (NYSE: REVG) has materialized within two months, indicating a more manageable market despite ongoing volatility [1] - The company is navigating the current market conditions with prudent inventory management [1] - The analyst has extensive experience in the logistics sector and has been involved in stock investing and macroeconomic analysis for nearly a decade [1] Group 2 - The analyst focuses on ASEAN and NYSE/NASDAQ stocks, particularly in sectors such as banks, telecommunications, logistics, and hotels [1] - The analyst's investment strategy includes diversification across different industries and market cap sizes, with holdings for both retirement and trading profits [1] - The analyst entered the US market in 2020 and has been using analyses from Seeking Alpha to compare with the Philippine market [1]

Core Viewpoint - The content emphasizes the importance of conducting personal due diligence and consulting competent advisors before making any financial decisions, particularly in the context of investments and trading activities [1]. Group 1 - The website provides general news and publications, personal analysis, and third-party content intended for educational and research purposes [1]. - It explicitly states that the information does not constitute any recommendation or advice for investment or purchasing decisions [1]. - The content is not tailored to individual financial situations or needs, highlighting the necessity for users to apply their own discretion [1]. Group 2 - The website includes information about complex financial instruments such as cryptocurrencies and contracts for difference (CFDs), which carry a high risk of losing money [1]. - Users are encouraged to perform their own research before making investment decisions, particularly regarding instruments they do not fully understand [1].

Strategic Actions and Financial Impact - REV Group sold Collins Bus to Forest River for $303 million in cash[7, 8] - The company expects >$250 million in net cash proceeds from strategic actions, including the Collins sale and winding down ENC operations[7, 11] - A special cash dividend of $3.00 per share will be paid to shareholders[7, 8] - REV Group anticipates a net debt to trailing twelve-month Adjusted EBITDA leverage ratio of <1.0x exiting 1Q24[8] Revised Fiscal 2024 Outlook - Net sales are projected to be $2.45 to $2.55 billion, adjusted for strategic actions[21] - Adjusted EBITDA is expected to be $140 to $160 million[21] - Free cash flow is estimated at $53 to $68 million[21] Business Segmentation - REV Group will be reorganized into two reporting segments: Specialty Vehicles and Recreational Vehicles[8, 19] - The Specialty Vehicles segment includes Fire & Emergency and remaining commercial segment businesses[19] - The Recreational Vehicles segment includes all of REV Group's recreation products[19, 20] FY2023 Recast Results - FY2023 Adjusted EBITDA was $156.6 million[21, 34]