REV Stock Jumps On Return To Profit In Q2 Beating Street; Ups Guidance; Sets Share Buyback

(RTTNews) - Specialty vehicles manufacturer REV Group, Inc (REVG), Thursday reported earnings for the second quarter compared to a loss for the same period last year, on higher revenues including price realization across all divisions. Earnings also surpassed the Street view. The company also raised its earnings and revenue outlook for the full year.

The company also said it has been authorized to buy back up to $175 million of shares, replacing the earlier authorization of $150 million.

In pre-market activity, shares of REV Group were trading at $13.49, up 14.71% or $1.73 on the New York Stock Exchange.

Quarterly earnings were $14.2 million or $0.24 per share compared with a loss of $2.3 million or $0.04 per share last year.