Shares of REV Group went up after the company raised its earnings guidance for the fiscal year and reported better-than-expected results for the fiscal second quarter.
In Wednesday morning trading, the stock was up 5% to $26. So far this year, shares have gone up more than a third.
The company that makes specialty vehicles and aftermarket parts for them said it now expects to make at least $230 million this year, which is more than the $224 million that was the low end of its previous range of predictions.
Amounts earned after one-time items are taken out are now expected to reach $76 million, which is $4 million more than the previous estimate.
REV Group also lowered its sales forecast by $50 million, to a range of $2.40 billion to $2.50 billion.
FactSet says that sales dropped from $681.2 million to $616.9 million in the fiscal second quarter, which ended on April 30. This was better than the $601.4 million that analysts had predicted.
Last quarter, the company made $14.2 million, or 24 cents per share. This quarter, it made $15.2 million, or 28 cents per share. Analysts had predicted earnings of 39 cents per share, which was more than a dime more than what was earned.
