REV Group (NYSE:REVG) delivered second-quarter results that surpassed Wall Street expectations, prompting the specialty vehicle manufacturer to raise its full-year outlook. Shares surged more than 16% intra-day today following the announcement.

Adjusted earnings per share came in at $0.70, well ahead of the $0.55 analysts were projecting. Revenue climbed to $629.1 million, exceeding estimates of $603.5 million and reflecting 2% year-over-year growth. Excluding its exited bus operations, net sales jumped 7.7%, fueled by solid performance in the Specialty Vehicles segment, which offset weakness in Recreational Vehicles.

Adjusted EBITDA surged to $58.9 million from $37.5 million a year earlier, showcasing improved operational efficiency. The company also returned capital to shareholders, buying back 2.9 million shares for $88.4 million during the quarter.

In light of the strong performance, REV Group upgraded its fiscal 2025 revenue forecast to a range of $2.35 billion to $2.45 billion, up from the previous $2.3 billion to $2.4 billion and above consensus expectations.