REV Group posts $552.1 million in first-quarter sales as Terex merger closes
BROOKFIELD, Wis., July 31. REV Group, Inc. reported first-quarter net sales of $552.1 million for the three months ended January 31, 2026, up from $525.1 million a year earlier, according to a pro forma quarterly report filed as an exhibit to Terex Corporation's (TEX) 8-K. Net income fell to $13.3 million from $18.2 million, reduced by an $11.6 million loss on assets reclassified as held for sale.
Key takeaways
- REV Group reported first-quarter net sales of $552.1 million for the three months ended January 31, 2026, up from $525.1 million a year earlier.
- Net income fell to $13.3 million from $18.2 million, reduced by an $11.6 million loss on assets reclassified as held for sale.
- Diluted earnings per share were $0.27, down from $0.35 a year earlier, while the dividend held steady at $0.06 per common share.
- REV Group's merger with Terex Corporation, agreed on October 29, 2025, closed February 2, 2026, after the reporting period.
- Total assets rose to $1,282.8 million as of January 31, 2026, from $1,200.0 million at October 31, 2025, and long-term debt increased to $121.0 million from $40.0 million.
BROOKFIELD, Wis., July 31. REV Group, Inc. reported first-quarter net sales of $552.1 million for the three months ended January 31, 2026, up from $525.1 million a year earlier, according to a pro forma quarterly report filed as an exhibit to Terex Corporation's (TEX) 8-K. Net income fell to $13.3 million from $18.2 million, reduced by an $11.6 million loss on assets reclassified as held for sale.
Earnings narrowed by asset write-down
Gross profit widened to $76.6 million from $69.8 million and operating income rose to $31.3 million from $28.0 million. Selling, general and administrative expenses totaled $45.3 million, up from $41.8 million. The held-for-sale charge hit below the operating line, cutting pretax income to $13.5 million from $22.0 million in the prior-year period.
The income tax provision fell to $0.2 million from $3.8 million. Diluted earnings per share came to $0.27, against $0.35 a year earlier, the filing shows. REV Group declared a dividend of $0.06 per common share, unchanged from the prior-year quarter.
Balance sheet and liquidity
Total assets reached $1,282.8 million as of January 31, 2026, compared with $1,200.0 million at October 31, 2025. Inventories totaled $531.8 million, up from $527.1 million, and net accounts receivable rose to $183.5 million from $167.6 million. Cash and cash equivalents stood at $80.6 million, against $34.7 million at the prior fiscal year end.
Long-term debt rose to $121.0 million from $40.0 million over the quarter. The company drew a net $81.0 million on its revolving credit facility during the period, the cash flow statement shows. Operating activities consumed $10.4 million in cash, compared with $13.1 million in the year-earlier period.
Assets classified as held for sale totaled $24.4 million on the January 31 balance sheet, against zero at October 31, 2025. Shares outstanding stood at 49,037,651 at quarter end. In the year-earlier quarter, REV Group had retired 579,165 shares for $19.3 million; the current quarter showed no repurchase activity.
Terex merger completed February 2
REV Group entered an agreement and plan of merger with Terex Corporation, a Delaware corporation, on October 29, 2025. The merger was structured through two Terex subsidiaries: Tag Merger Sub 1 Inc. and Tag Merger Sub 2 LLC. The transaction closed February 2, 2026, after the reporting period, as disclosed in the filing's subsequent events note. REV Group is headquartered at 245 South Executive Drive, Suite 100, in Brookfield, Wisconsin.