Rev Group’s Recreational Vehicle segment saw fiscal fourth-quarter and full-year sales slump because of order cancellations and fewer orders.
President and CEO Mark Skonieczny said the company was looking ahead to January for its first sign of a potential turnaround.
“It is really going to be reliant on what we see in Tampa,” he said of the Florida RV SuperShow in mid-January. “We are seeing orders but dealers are still hesitant to release the orders for production.”
The RV segment totaled $158.1 million in fiscal fourth-quarter sales, down 26.5% from the fiscal fourth quarter of 2023. Profits in the quarter totaled $6.4 million, down 63% from the fiscal fourth quarter of 2023.
Chief Financial Officer Amy Campbell said the quarter’s RV results were related to fewer Type A and Type B shipments, with favorable Type C shipments helping to balance the losses out.
“Despite a decline in segment shipments,” Campbell said, “we believe that our motorized brand shipments have outperformed their respective product categories throughout the year.”
For the full fiscal year, RV segment sales totaled $654.6 million, down 28% from fiscal 2023 levels. Profits totaled $32.3 million in the fiscal year, down 61% from fiscal 2023.
Skonieczny said the manufacturer talks monthly with its dealers to determine which RV orders will come out of Rev Group’s backlog. He said a typical uptick occurs in November and December as dealers stock their lots for the Tampa show.
“We will start seeing in the spring if (the market is) consistent with what RVIA is saying,” he said, “and what some of our competitors as well in the space say.”
Skonieczny said the manufacturer benefited from limiting over-investment capacity in the RV segment during peak demand. He said Rev Group managed its cost structure over the past two years to align with fewer retail sales.
