REV Group(US:REVG)2025-12-10 12:00Financial Performance - Consolidated net sales for Q4 2025 were $664.4 million, a 13.0% increase from $597.9 million in Q4 2024, excluding the impact of Bus Manufacturing Businesses[2] - Full year 2025 consolidated net sales reached $2,463.5 million, an 11.1% increase from $2,380.2 million in 2024, excluding the impact of Bus Manufacturing Businesses[3] - Q4 2025 net income was $28.9 million, or $0.59 per diluted share, down from $41.7 million, or $0.80 per diluted share in Q4 2024[4] - Net income for the twelve months ended October 31, 2025, was $95.2 million, compared to $257.6 million in the prior year, reflecting a decrease of 63.0%[29] - For the three months ended October 31, 2025, the total net income was $28.9 million, a decrease from $41.7 million in the same period of 2024, representing a decline of 30.0%[33] - For the twelve months ended October 31, 2025, the total net income was $95.2 million, down from $257.6 million in 2024, indicating a decrease of 63.0%[35] Segment Performance - Specialty Vehicles segment net sales were $507.4 million in Q4 2025, a 15.3% increase from $439.9 million in Q4 2024[10] - Recreational Vehicles segment net sales were $157.2 million in Q4 2025, a slight decrease of 0.6% from $158.1 million in Q4 2024[12] - Specialty Vehicles segment net sales increased to $507.4 million for the three months ended October 31, 2025, compared to $439.9 million in the prior year, a growth of 15.4%[31] EBITDA and Cash Flow - Adjusted EBITDA for Q4 2025 was $69.7 million, a 39.7% increase from $49.6 million in Q4 2024, excluding the impact of Bus Manufacturing Businesses[5] - Adjusted EBITDA for the three months ended October 31, 2025, was $69.7 million, up from $49.6 million in the same period last year, marking a 40.0% increase[31] - The company reported a free cash flow of $190.0 million for the twelve months ended October 31, 2025, after capital expenditures of $51.1 million[38] Assets and Liabilities - Total assets decreased to $1,200.0 million as of October 31, 2025, down from $1,213.0 million in the previous year[25] - Total current liabilities increased to $515.3 million, up from $469.3 million in the prior year, reflecting an increase of 9.0%[25] Capital Expenditures and Dividends - Capital expenditures in Q4 2025 were $23.2 million, significantly higher than $5.3 million in Q4 2024[14] - The board declared a quarterly cash dividend of $0.06 per share, equating to an annualized rate of $0.24 per share[15] Strategic Plans - The company plans to close a strategic merger with Terex Corporation in the first half of calendar 2026[8] Other Financial Metrics - Gross profit for the same period rose to $102.6 million, representing a 30.2% increase compared to $78.8 million in the prior year[27] - Operating income for the three months ended October 31, 2025, was $47.5 million, a 37.0% increase from $34.6 million in the previous year[27] - The total EBITDA for the twelve months ended October 31, 2025, was $168.6 million, compared to $394.3 million in 2024, a decline of 57.3%[35] - The company incurred transaction expenses of $7.3 million for the twelve months ended October 31, 2025, slightly down from $7.4 million in 2024[37] - The net loss on sale of business and assets for the twelve months ended October 31, 2025, was $36.7 million[35] - The company reported stock-based compensation expenses of $12.6 million for the twelve months ended October 31, 2025, compared to $12.7 million in 2024[37] - Depreciation and amortization for the twelve months ended October 31, 2025, totaled $26.0 million, up from $25.4 million in 2024[35] - The provision for income taxes for the twelve months ended October 31, 2025, was $22.3 million, compared to $82.8 million in 2024, a decrease of 73.0%[35] Backlog - Period-end backlog for Specialty Vehicles was $4,402.3 million, a 5.3% increase from $4,179.8 million in the previous year[31]