The Recreation Vehicle Industry Association commissioned an Economic Impact Study on the RV industry, released on June 7, 2016. The study found that the RV industry contributes about $49.7 billion in economic output or 0.28 percent of the Gross Domestic Product. Through its production and distribution linkages, the industry impacts firms in 426 of the 440 sectors of the United States economy.
Nationwide, the industry is responsible for 216,170 jobs, both directly and inderectly, creating an economic impact of $37.5 billion. The full study results, along with each individual state and congressional district's economic impact is available on the website by clicking here .
Thu Mar 8, 2018
REV Group, Inc. (NYSE: REVG) today reported results for its fiscal first quarter, the three months ending Jan. 31, with a jump into the black, according to a press release from the Milwaukee, Wisconsin, firm.
Consolidated net sales in the first quarter 2018 were $514.9 million, an increase of 16.2 percent over the first quarter of 2017. The company’s first quarter 2018 net income was $9.4 million, or $0.14 per diluted share compared to a net loss of $13.3 million, or $0.26 per diluted share in the first quarter of 2017.
The company says it saw increased earnings in each of the reported operating segments, which was partially driven by the impact of acquisitions. However, none appears to surpass the recreation division, in which results might get brighter following the acquisition of Lance Campers in January.
The recreation segment grew net sales to $167.2 million in the first quarter 2018, representing an increase of $40.5 million, or 32 percent, from the first quarter 2017, according to the company. Recreation segment sales growth was the result of strength in end markets as well as sales from acquired companies, according to REV. Recreation segment backlog at the end of the first quarter 2018 was $281.8 million, an increase of 94.6 percent from $144.8 million at the end of fiscal year 2017. This significant increase in backlog was positively impacted by the acquired backlog in the Lance Camper business.
“Fiscal year 2018 is off to a good start as we saw continued growth across most of our product categories and we remain on track to meet our full-year objectives,” says Tim Sullivan, CEO of the REV Group, Inc. “We continue to remain highly focused on the execution of our commercial, product and operating strategies to improve profitability as we work towards our long-term goal of an enterprise-wide EBITDA margin in excess of 10 percent.
“Additionally, we continued to execute on our disciplined capital allocation strategy with the acquisition of Lance Camper this quarter, which enables our entry into the large and fast-growing towables RV market. With a strong backlog of $1.24 billion we expect to continue to see improving operating leverage in the business and thus expect earnings growth to exceed sales growth in fiscal year 2018.”
To read the entire release, CLICK HERE.