RV Business RVing in New England,” the weekly Facebook Live show hosted by the New England RV Dealers Association (NERVDA), this week features a panel of technical experts – Chris Dougherty, Randy Murry, Mike Sokol and Ryan Hadley.
Co-hosted by Bob Zagami and John DiPietro, tonight’s show airs at 7 p.m. ET.
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RoverPass, a leading provider of campground management and reservation software, announced the promotion of Melisa Chang as the new marketing director for the company.
Chang’s new role as Marketing Director will involve overseeing RoverPass’s marketing strategy and initiatives, including expanding brand presence and enhancing customer engagement. Her promotion reflects the company’s commitment to strengthening its marketing efforts and driving growth through innovative strategies and effective leadership.
“We are excited to see Melisa take on this new role,” said Michelle Smith, CEO of RoverPass. “Her dedication, strategic vision, and results-driven approach have been instrumental in our marketing success. With Melisa at the helm of our marketing team, we are confident that we will continue to elevate our brand and reach new milestones.”
As Marketing Director, Chang will lead the development and execution of comprehensive marketing plans to establish further RoverPass’s position as a leader in campground management solutions. Her leadership will play a crucial role in the company’s ongoing efforts to innovate and meet the evolving needs of campground owners and operators.
About RoverPass
RoverPass is a comprehensive reservation and park management software designed to streamline campground operations and enhance customer experience. With a focus on innovation and user-friendly solutions, RoverPass offers a range of features to simplify booking, improve park management, and drive business growth for campgrounds across North America.
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STERLING, Va. – Altor Locks, the Virginia manufacturer with the strongest coupler lock available on the market, is excited to announce a strategic partnership with Automotive Accessories Marketing USA, Inc. (The AAM Group), the largest distribution group in the Specialty Equipment Market Association (SEMA) marketplace. The ICON Trailer Lock was approved by AAM Group members – leading automotive aftermarket distributors – after they saw how it stands up to power tools at a private event this Spring.
“We’re excited to partner with Altor Locks and bring their top-tier security products to our network. This partnership is a testament to our ongoing dedication to supporting our warehouse members and the automotive aftermarket,” said David Ayers, Vice President of Operations at The AAM Group.
The AAM Group was founded in 1988 by eight high performance warehouse distributors that sought to achieve cooperative, scaled purchasing and marketing advantages. They now count 27 member-companies operating 76 distribution centers throughout North America. Headquartered in Piney Flats, Tennessee, The AAM Group manages product purchasing and marketing for distributors, resellers and suppliers. Members include Lordco, Midwest Wheel, Tri-State Enterprises, A1 Distributing, Toys for Trucks, AllPro Distributing and other leading wholesalers and retailers.
Altor’s US Patent 11,766,905 B2 was issued in 2023 for a premium lock specifically engineered to deter thieves using angle grinders, reciprocating saws, drills, lock picks, pry bars and hammers. Conventional locks on the market can be compromised in 120 seconds or less. The innovative ICON survived a concentrated attack with an angle grinder, lasting more than 90 minutes, using 14 blades, and 8 battery packs. (See the testing video here). The ICON Trailer Lock is made with over twenty pounds of high quality cast steel hardened to 450 Brinell making the ICON extremely strong and able to withstand repeated, concentrated attacks. Common conventional locks are made with cheaper low carbon steel which is more malleable and vulnerable to saw blades and drill bits. In addition to the patented radial fin engineering, the ICON features a premium disc detainer lock core, extreme weather resistant seals and one-piece design for easy lock and go experience.
“We are thrilled to become an approved AAM Group member,” said Larry Thomas, Altor’s Chief Revenue Officer. “Acceptance by these industry experts further validates the ICON and expands our reach to the SEMA marketplace.”
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BILLINGS, Mont. – In honor of Childhood Cancer Awareness Month, Care Camps Foundation is launching its new rebranding that showcases the organization’s official name change announced earlier this year.
Care Camps Foundation is a national non-profit foundation whose mission is to give joy, hope, and the healing power of the outdoors to children with cancer and their families at medically supervised pediatric oncology camps, according to a release.
The new logo holds symbolic significance and encapsulates the core attributes of their mission: outdoors, life, growth, caring, community, connection, joy, transformation and healing.
“As we move forward with our new image, what remains the same is our steadfast commitment to fund pediatric oncology camps across the U.S. and Canada,” said Gwynn Sullivan, Care Camps Foundation executive director. “And we continue to promise to be the best stewards of the generous donations we receive from campgrounds, companies, foundations and individuals so ultimately more children and families navigating a cancer journey will benefit from the programs these special camps provide.”
Additionally, as Care Camps Foundation commemorates its 40th anniversary this year, their Board of Directors and staff wish to acknowledge the caring group of Kampgrounds of America (KOA) owners who ignited their mission and began fundraising to support a few camps for children with cancer in 1984. Since that time, KOA campgrounds across the U.S. and Canada as well as other campgrounds, companies, foundations and individuals have continued to elevate the cause.
This past year Care Camps Foundation provided $2M to 122 camps that touched the lives of 41,880 children, siblings, parents and other family members – all of whom attended these specialized camps at no cost. To learn more, donate and be inspired, visit www.carecamps.org.
About Care Camps
Care Camps Foundation dedicated to funding medically supervised pediatric oncology camps across the United States and Canada. They aspire to bring the healing power of community and the outdoors to children living with cancer and their families by partnering with the outdoor industry, other businesses, foundations, and individuals to fund the camps. Care Camps supports camps who are members of the Children’s Oncology Camping Association (COCA) which oversees their quality assurance and professional development. For more information, visit www.carecamps.org.
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FAIRFAX, Va. – The advance registration deadline for the 2024 RVDA Convention/Expo is Sept. 5. The event will take place Nov. 11-15 at Paris Las Vegas.
“Dealers who register at least one person by the deadline lock in the best rate for any additional personnel registering after Sept 5th,” said RVDA President Phil Ingrassia. “This provides maximum flexibility for dealerships who decide to register additional employees as the convention approaches.”
The convention brings together North America’s top dealership personnel for a week of in-person networking and continuing education workshops designed for dealers/GMs, sales, fixed ops, F&I, and digital marketing professionals.
For complete information and to register for the Convention/Expo click here.
The RVDA Convention/Expo also includes opportunities to interact with leading manufacturers, suppliers, and RV industry business partners in the Expo.
The event is presented by RVDA, RVDA of Canada, and the Mike Molino RV Learning Center.
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GREENWICH, Conn. – L Catterton, a leading global consumer-focused investment firm, announced in a press release that it has made a strategic investment in Open Road Resorts, an operating platform managing a portfolio of RV parks across the U.S. ORR has established a collection of clean, safe, highly amenitized, family-friendly RV and camping destinations nationwide for campers who are seeking exceptional outdoor experiences. L Catterton is joined by THOR Industries, Long Light Capital, and Chesapeake Partners, establishing a strategic investment consortium with deep experience in the outdoor, hospitality, and adventure categories.
Founded by Chase Becker and Jim Omstrom in 2019, Open Road Resorts was established with the vision of providing a best-in-class experience for RVers by building a portfolio of parks at in-demand locations across the U.S. and maintaining rigorous standards to ensure consumer expectations are consistently exceeded. U.S. household participation in camping remains robust and continues to grow meaningfully, with the number of active camping households growing annually since 2015 and now sitting at over 60 million. Open Road Resorts seeks to capitalize on this strong, consistent demand while ensuring RVers and outdoor enthusiasts are provided memorable experiences.
Currently, Open Road Resorts operates five parks across Idaho, Montana, Nebraska, and Texas. The ORR team seeks to provide superior hospitality experiences by acquiring exceptional parks and investing in key enhancements to drive consumer satisfaction. The investment will support ORR’s acquisition of additional parks, allow for investment in key amenities and infrastructure across new and existing parks, and enable further investments in marketing and brand-building nationwide.
“We are incredibly excited to work with a group of partners with deep experience in the outdoor category. With partners such as L Catterton and THOR, we believe we will be able to meaningfully scale our operations and geographic presence,” said Chase Becker, Co-Founder of Open Road Resorts.
Jim Omstrom, fellow ORR Co-Founder, added: “We established Open Road Resorts with the goal of building a collection of parks that offer our guests a consistent, high-quality, memorable experience at desirable destinations across the U.S. We believe this investment will help us achieve that goal.”
“We partnered with the Open Road Resorts team because we believe they are building a uniquely compelling offering for campers that will be highly desirable to our current and future customers. We always seek to provide our consumers with a superior experience, and partnering with ORR allows us to accomplish this goal by ensuring their access to the next great brand in outdoor hospitality,” said Todd Woelfer, Senior Vice President and Chief Operating Officer of THOR.
“We are thrilled to partner with Jim, Chase, and the fantastic investor base of Open Roads Resorts to scale the ORR platform and help grow the next great outdoor hospitality company,” said Matt Nugent, a Partner in L Catterton’s Growth Fund. “We are huge believers in the long-term growth of the RV market and in outdoor participation more generally, and we believe ORR is optimally positioned to provide a compelling experience to a broad set of outdoor enthusiasts across the country.”
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BRISTOL, Ind. – Bontrager Outdoors continues to set the industry standard with the introduction of two new products focused on versatility and customer experience for the 2025 model year, according to a press release.
Both new models – the 7ROD and the 10ROK – are part of Bontrager Outdoors’ recently rebranded Small Line, which had previously been known as its Bushwhacker line.
The 7ROD features an overall exterior length of just under 11 feet and an unloaded vehicle weight of only 500 pounds, making it the lightest RVIA-certified camper on the market. The 7ROD’s incredibly low vehicle weight means it can be towed – thanks in particular to its exclusive swivel hitch – by even the lightest vehicles, including compact cars, EVs, side-by-sides, ATVs, hybrids and even larger motorcycles. The 7ROD does not sacrifice when it comes to quality components; its build materials include composite, aluminum and steel.
Offering a robust cargo carrying capacity of up to 1440 pounds, the 10ROK combines the best of the industry-leading 10HD camper with a vertical rear wall similar to the one used on the larger 12ROK model. The 10ROK also offers an innovative new rear door design featuring flush slam hatch handles with integrated keyed-alike locks and a hinge designed to significantly discourage water infiltration into the rear exterior kitchen.
“Both the 7ROD and the 10ROK perfectly embody our mission of creating high-quality recreational vehicles that inspire unforgettable adventures,” said Jason Bontrager, co-owner and CEO of Bontrager Outdoors. “Their incredible quality construction, low weight and innovative features show why Bontrager Outdoors is the name families trust to connect and make memories time and time again. We are thrilled to add these innovative products to our growing Small Line product family.”
“The 7ROD and the 10ROK are both exciting representations of our belief that everyone should be able to enjoy the great outdoors regardless of their vehicle,” added Austin Bontrager, co-owner and COO of Bontrager Outdoors.
Like all Bontrager Outdoors products, both the 7ROD and 10ROK will be covered by the company’s one-year bumper-to-bumper warranty.
Bontrager Outdoors focuses on adventure-oriented travel trailers and teardrop trailers, appealing to a wide market of outdoor enthusiasts. With a best-in-class leadership team and extensive industry experience, the company’s products are known for high-quality craftsmanship, reliability, and innovative designs. The company’s commitment to the Golden Rule—treating customers as they would like to be treated—translates to exceptional customer support and loyalty. For more information, visit its website.
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DÜSSELDORF, Germany – The interest German holidaymakers take in caravanning remains high: between January and July 2024, 67,681 recreational vehicles were newly registered which corresponds to a 7.2% increase compared to the previous year. At Caravan Salon 2024, the great enthusiasm for self-determined traveling close to nature is palpable. After the first half of the world’s largest caravanning trade fair exhibitors and organizers draw a positive interim balance, according to a release.
“We are very satisfied with the results so far and have succeeded in welcoming more than 150,000 caravanning fans to our fairgrounds up to and including Wednesday. We managed to address a highly interested audience and many of our exhibitors report having concluded good contracts. The second half of the trade fair also still has plenty of highlights in store. Visitors with concrete intentions to buy can look forward to receiving attractive trade-fair terms until Sunday,” said Stefan Koschke, director of Caravan Salon. All in all, he adds, a great atmosphere and a good mood could be detected in the 16 halls and on the outdoor premises.
Daniel Onggowinarso, general manager of the Caravaning Industrie Verband (CIVD), also draws a positive interim conclusion.
“Caravan Salon is not a caravanning trade fair like any other,” he stated. “As the world-leading trade fair of the industry the expectations of visitors and exhibitors in Düsseldorf are particularly high every year. All the more pleasing to note is that Caravan Salon has also succeeded in fulfilling the high demands and taken off to a promising start this year. The foundation for this was laid by the vehicle and accessories manufacturers presenting a plethora of product ranges and innovations again. The product ranges are currently very attractive, especially since the exhibitors’ traditional special trade fair activities herald a big comeback this year. This is why an especially high number of visitors seized the moment to obtain detailed information and talk about concrete purchases.
“In addition,” he continued, “we are delighted that we managed to again welcome high-calibre guests from political, business and scientific circles during the ‘Deutscher Stellplatztag’ event and the symposium ‘Natur.Tourismus.Zukunft.’ in Düsseldorf. The strong cross-industry interest shows that Caravan Salon has also become an established, important platform for tourism-policy discussions.”
Once again, a high figure of 37% was achieved among first-time visitors. ‘This shows that the popularity of caravanning as a form of holiday is still extremely high. Many of these newcomers specifically visited the StarterWelt in the outdoor area to get advice on vehicle types, accessories and the right choice of travel routes and campsites,’ added Koschke.
At Caravan Salon Düsseldorf, 778 exhibitors from 35 countries will be presenting leisure vehicles, equipment and accessories for every taste and budget in 16 halls and on the outdoor exhibition area until 8 September. In addition to motorhomes, caravans and campervans, the range of products includes vehicle technology, components and finishing parts, tents, mobile homes, caravanning and camping accessories and equipment, outdoor clothing and equipment, tourist destinations as well as nature regions, camping sites and pitches.
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BROOKFIELD, Wis. – REV Group, Inc. (NYSE: REVG), a manufacturer of industry-leading specialty and recreational vehicles, today reported results for the three months ended July 31. Consolidated net sales in the third quarter 2024 were $579.4 million, compared to $680.0 million for the three months ended July 31, 2023. Net sales for the third quarter 2023 included $45.9 million attributable to Collins. Excluding the impact of the Collins divestiture, net sales decreased $54.7 million, or 8.6% compared to the prior year quarter. The decrease, excluding the impact of Collins, was primarily due to lower net sales in the Recreational Vehicles segment, partially offset by higher net sales in the Specialty Vehicles segment.
The company’s third quarter 2024 net income was $18.0 million, or $0.35 per diluted share, compared to net income of $14.9 million, or $0.25 per diluted share, in the third quarter 2023. Adjusted Net Income for the third quarter 2024 was $24.8 million, or $0.48 per diluted share, compared to Adjusted Net Income of $20.9 million, or $0.35 per diluted share, in the third quarter 2023. Adjusted EBITDA in the third quarter 2024 was $45.2 million, compared to $39.4 million in the third quarter 2023. Adjusted EBITDA for the third quarter 2023 included $9.2 million attributable to Collins. Excluding the impact of the Collins divestiture, Adjusted EBITDA increased $15.0 million, or 49.7% compared to the prior year quarter. The increase was primarily due to the higher contribution from the Specialty Vehicles segment, partially offset by lower results in the Recreational Vehicles segment.
“We are pleased with the results of the Specialty Vehicles segment, which delivered double digit Adjusted EBITDA margin performance in the third quarter,” REV Group Inc. President and CEO, Mark Skonieczny, said. “Profitability benefited from another quarter of sequential and year-over-year improvements within the fire and ambulance businesses. The continued momentum demonstrated by these businesses positions us well for the future. Within the Recreational Vehicles segment, market conditions remain challenged, however, we continue to be proactive in managing our cost structure to align with end market demand and deliver operating margins in line with our expectations.”
REV Group Third Quarter Segment Highlights
Specialty Vehicles Segment
Specialty Vehicles segment net sales were $432.1 million in the third quarter 2024, a decrease of $34.1 million, or 7.3%, from $466.2 million in the third quarter 2023. Net sales for the third quarter 2023 included $45.9 million attributable to Collins. Excluding the impact of the Collins divestiture, net sales increased $11.8 million, or 2.8% compared to the prior year quarter. The increase in net sales compared to the prior year quarter was primarily due to price realization and increased shipments of fire apparatus, ambulance units, and municipal transit buses, partially offset by lower shipments of terminal trucks. Specialty Vehicles segment backlog at the end of the third quarter 2024 was $4,114.4 million compared to $3,728.2 million at the end of the third quarter 2023. Backlog at the end of the third quarter 2023 included $257.1 million related to Collins. Excluding the impact of the Collins divestiture, backlog increased $643.3 million compared to the prior year quarter. The increase was primarily the result of continued demand and order intake for fire apparatus and ambulance units, along with pricing actions, partially offset by a decrease in backlog related to the wind down of municipal transit bus operations, increased unit shipments, and lower order intake for terminal truck units.
Specialty Vehicles segment Adjusted EBITDA was $44.3 million in the third quarter 2024, an increase of $14.6 million, or 49.2%, from Adjusted EBITDA of $29.7 million in the third quarter 2023. Adjusted EBITDA for the third quarter 2023 included $9.2 million attributable to Collins. Excluding the impact of the Collins divestiture, Adjusted EBITDA increased $23.8 million, or 116.1% compared to the prior year quarter. Profitability within the segment benefited from price realization, higher sales volume of fire apparatus and ambulance units, and improved performance in the municipal transit bus business, partially offset by lower sales volume of terminal trucks.
Recreational Vehicles Segment
Recreational Vehicles segment net sales were $147.4 million in the third quarter 2024, a decrease of $67.1 million, or 31.3%, from $214.5 million in the third quarter 2023. The decrease in net sales compared to the prior year quarter was primarily due to decreased unit shipments and increased discounting. Recreational Vehicles segment backlog at the end of the third quarter 2024 was $240.3 million, a decrease of $168.3 million compared to $408.6 million at the end of the third quarter 2023. The decrease was primarily the result of lower order intake in certain categories, unit shipments against backlog, and order cancelations.
Recreational Vehicles segment Adjusted EBITDA was $9.4 million in the third quarter 2024, a decrease of $9.0 million, or 48.9%, from $18.4 million in the third quarter 2023. The decrease was primarily due to lower unit shipments, increased discounting, and inflationary pressures, partially offset by cost reduction actions.
Working Capital, Liquidity, and Capital Allocation
Net debt2 totaled $164.5 million as of July 31, 2024, including $50.5 million cash on hand. The company had $261.8 million available under its ABL revolving credit facility as of July 31, 2024, a decrease of $122.3 million as compared to the October 31, 2023 availability of $384.1 million. Trade working capital3 for the company as of July 31, 2024 was $322.7 million, compared to $318.5 million as of October 31, 2023. The increase was primarily due to a decrease in customer advances and accounts payable, partially offset by a decrease in accounts receivable and inventory. Capital expenditures in the third quarter 2024 were $5.9 million compared to $9.1 million in the third quarter 2023.
Quarterly Dividend
The company’s board of directors declared a regular quarterly cash dividend in the amount of $0.05 per share of common stock, payable on October 11, 2024, to shareholders of record on September 27, 2024, which equates to a rate of $0.20 per share of common stock on an annualized basis.
Conference Call
A conference call to discuss the company’s third quarter 2024 financial results and our outlook is scheduled for September 4, 2024, at 10:00 a.m. ET. A supplemental slide deck will be available on the REV Group, Inc. investor relations website. The call will be webcast simultaneously over the Internet. To access the webcast, listeners can go to http://investors.revgroup.com/investor-events-and-presentations/events at least 15 minutes prior to the event and follow instructions for listening to the webcast. An audio replay of the call and related question and answer session will be available for 12 months at this website.
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EDITOR’S NOTE: The following is the latest list of RV recalls compiled by the National Highway Traffic Safety Administration (NHTSA). Per strict NHTSA protocols, manufacturers will next notify its dealer partners of the recall notice. Each notice will include details of the affected vehicles as well as the appropriate remedy.
Forest River Inc. is recalling 34 2024 Forest River Salem, and Wildwood travel trailers. The tire may contact the outrigger, causing the tire to fail. Dealers will replace and relocate the outriggers, free of charge. Owner notification letters are expected to be mailed Oct. 1. Owners may contact Forest River customer service at 1-574-534-3167. Forest River’s number for this recall is 44-1831.
Forest River Inc. is recalling 132 2024-2025 Salem SBF325RL, and Wildwood WBF325RL travel trailers. The tires may contact chassis components, causing the tires to fail. The remedy is currently under development. Owner notification letters are expected to be mailed Oct. 1. Owners may contact Forest River customer service at 1-574-534-3167. Forest River’s number for this recall is 69-1833.
Ford Motor Company is recalling 373 2024 Transit vehicles. The front gross axle weight rating may be labeled incorrectly on the vehicle B-pillar label and the owner’s manual label, which can result in an overloaded vehicle. Dealers will replace the labels, free of charge. Owner notification letters are expected to be mailed Sept. 9. Owners may contact Ford customer service at 1-866-436-7332. Ford’s number for this recall is 24S53.
Aluminum Trailer Company is recalling 12 2021-2023 Commercial Office trailers equipped with CK7G generators. The fuel line assembly on the generator may be loose or improperly routed, which can result in a fuel leak. ATC will work with the equipment manufacturer, CK Power, to replace and reroute the fuel lines, free of charge. Owner notification letters are expected to be mailed Sept. 9. Owners may contact ATC customer service at 1-877-441-2440, ext. 3422.
Aluminum Trailer Company is recalling 12 2021-2023 Commercial Office trailers equipped with CK7G generators. The insulated exhaust port outlet may fail, which can result in damage to other components. ATC will work with the equipment manufacturer, CK Power, to inspect and replace the exhaust pipe, gaskets and mufflers as necessary, free of charge. Owner notification letters are expected to be mailed Sept. 9. Owners may contact ATC customer service at 1-877-441-2440, ext. 3422.
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