Rev Group reported 2024 fiscal first-quarter financial results Wednesday. The manufacturer said among its recent capital expenditures are investments in its Type C operations.
Rev Group President and CEO Mark Skonieczny said the company invested $10.5 million in capital expenditures. The investments included buying a Type C motorhome service center. Skonieczny said the service center would enable more manufacturing.
Additional investments include a manufacturing facility in which the services and aftermarket parts businesses previously operated.
Rev Group’s Recreational Vehicles segment totaled $169 million in sales in the fiscal first quarter, down $56.6 million compared with the same quarter in 2023. Adjusted earnings totaled $11.6 million, down 52% compared with 2023’s fiscal first quarter.
RV shipments declined by 39% for the quarter, compared with 2023’s fiscal first quarter. The decline was driven by an 80% decline in towable shipments from the previous year.
Despite lower sales, the company continues to build profits.
According to Skonieczny, Rev Group is focused on “making sure that we have the right cost structures and the ability to flex out as units come out.”
Other focus areas include building on different product types and ensuring appropriate staffing.
Rev Group is also implementing enterprise resource planning software to expand its business. New Microsoft applications will replace older software this quarter.
