EV Group Withdraws Guidance

By Staff Writer March 29, 2020

EV Group, Inc., a manufacturer of specialty vehicles, provided a business and financial update to address uncertainty related to the coronavirus pandemic. The company also withdraws full year fiscal 2020 guidance provided on March 4, 2020.

The company announced that it has suspended normal production activities at all four RV production facilities in Indiana and California. The impacted businesses suspended production during the week of March 23, 2020 and will continue to monitor local health and safety mandates, the supply chain and dealer demand to determine when to restart normal operations. The company’s service centers will continue to perform essential support to meet dealers’ and end customers’ technical, warranty and parts requests.

“While we have suspended normal RV production, most of the vehicles we produce are considered by the Department of Homeland Security as essential to the nation’s health and safety as well as critical to transportation infrastructure. In order to deliver against existing backlogs and inbound orders and support our nation’s first responders during this challenging time, we are currently maintaining a regular work schedule at our non-RV production facilities,” stated Rod Rushing, REV Group, Inc. CEO. 

As a result of uncertainties introduced by the current health crisis, REV Group’s fiscal 2020 financial results may materially differ from guidance provided on March 4, 2020. Therefore, the company is withdrawing its full year fiscal 2020 guidance.

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Last modified on Friday, 03 April 2020 12:56

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