REVG Group climbs on upbeat 2023 forecast

Rev

14/12/2022 16:58

** Shares of heavy vehicle maker REVG Group Inc  REVG.N 
jump 19% to $15.8 - hitting their highest in a year
    ** Co sees 2023 net sales in the range of $2.3 bln-$2.5 bln
vs average analysts' estimate of $2.34 bln - Refinitiv
 urn:newsml:reuters.com:*:nBw6RBgjQa
    ** REVG's fiscal Q4 net sales climb 5.7% to $623.6 mln vs
average analysts' estimate of $595 mln - Refinitiv
    ** "We have made progress against supply chain headwinds
with an expectation to benefit from multi-sourcing initiatives
within the first half of fiscal 2023," says CEO Rod Rushing
    ** Co says at the end of Q4 it had a order backlog of $4.2
bln
    ** Including session gains, stock up 11.1% YTD
 (Reporting by Sourasis Bose in Bengaluru)
 ((Sourasis.bose@thomsonreuters.com))