REV Group expects to return to organic sales growth in FY19
CEO Tim Sullivan: "As we look to fiscal year 2019, we expect improvement in the availability of chassis and flow of raw materials. We are taking actions to increase manufacturing output to meet the ongoing strength of demand and to catch up with the delayed shipments we have experienced. We enter fiscal year 2019 with expectations for a return to growth in organic sales and profitability as well as significantly stronger cash flow generation and higher returns on invested capital. In addition to the monetization of businesses and assets which is expected to generate approximately $40M of cash in fiscal 2019, we have stepped up our focus on cash generation from operations across all our businesses. We are committed to continuing to evaluate our balance sheet and the performance of our portfolio to identify opportunities and actions to achieve our long-term financial objective of greater than 10 percent Adjusted EBITDA margins and to improve shareholder return."