REV Group slumps on dour outlook, Q2 miss

Rev

07/06/2022 18:16

** Specialty vehicle maker REV Group's shares  REVG.N  fall
as much as 21.9% to a near 1-1/2-year low of $9.50 after co
lowers FY sales and profit forecasts 
    ** Shares last down 16.4% at $10.18 in afternoon trade
    ** Co lowers annual net sales view to between $2.25 bln and
$2.4 bln from a range of $2.3 bln to $2.55 bln, saying supply
chain challenges will continue into 2023  urn:newsml:reuters.com:*:nBw70tVm1a
    ** Now expects full-year adjusted net income of $43 mln to
$62 mln, compared with $64 mln to $89 mln forecast previously 
    ** REVG's Q2 adj profit and revenue also fall short of
analysts' estimates, as per Refinitiv IBES data
    ** "Second quarter results reflect continuing shortages of
key components and lower chassis supply that limited new starts,
throughput, and completions"- CEO
    ** REVG shares now down ~27% YTD

 (Reporting by Aatrayee Chatterjee in Bengaluru)
 ((Aatrayee.Chatterjee@thomsonreuters.com;))