REV Group has reported results for the three months ended Jan. 31, showing that consolidated net sales were $518.7 million which represented a growth of 0.7 percent over the three months ended Jan. 31, 2018. The company also reported that its first quarter 2019 net loss was $14.6 million, compared to net income of $9.4 million in the first quarter of 2018.
Recreation segment net sales were $176.3 million for the first quarter 2019, an increase of $9 million, or 5.4 percent, from $167.3 million for the first quarter 2018. Recreation segment sales growth was primarily due to higher sales of Super C and Class B RVs, as well as a full quarter of Lance towable and camper sales, partially offset by a reduction in Class A sales.
Excluding the impact of net sales from Lance, which was acquired late in the first quarter 2018, Recreation segment net sales decreased $7.8 million in the first quarter 2019 compared to the first quarter 2018. Recreation segment backlog at the end of the first quarter 2019 was $225.2 million, which was down 22.5 percent from $290.7 million at the end of fiscal year 2018. This decrease in backlog is reflective of the softer Class A RV market, somewhat offset by growth in Class B and Super Cs.
“We are confident that our first-class brands and ongoing performance improvements in this segment will support continued growth in profitability in this segment in fiscal year 2019,” said RV Group CEO Tim Sullivan.