10-Q Filing

REV GROUP, INC. CIK: 1687221 Q1 2023

Filing Information

Form Type	10-Q
Accession Number	`0000950170-23-006585`
Period End Date	20230131
Filing Date	20230308
Fiscal Year	2023
Fiscal Period	Q1
XBRL Instance	revg-20230131_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 81 Income Statement 37 Cash Flow Statement 47 Stockholders Equity 21

Balance Sheet 81 line items

Line Item	Tag	Value	Unit	Period
Preferred stock, par value	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Preferred stock, par value	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Preferred stock, authorized shares	`PreferredStockSharesAuthorized`	95.00M	shares	Point-in-time
Preferred stock, authorized shares	`PreferredStockSharesAuthorized`	95.00M	shares	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$20.40M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$23.00M	USD	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$218.80M	USD	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$215.00M	USD	Point-in-time
Inventories, net	`InventoryNet`	$671.90M	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Inventories, net	`InventoryNet`	$629.50M	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$23.50M	USD	Point-in-time
Common stock, authorized shares	`CommonStockSharesAuthorized`	605.00M	shares	Point-in-time
Other current assets	`OtherAssetsCurrent`	$27.60M	USD	Point-in-time
Common stock, authorized shares	`CommonStockSharesAuthorized`	605.00M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$941.30M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	59.52M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$888.40M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	59.32M	shares	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$148.90M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	59.52M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	59.32M	shares	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$147.10M	USD	Point-in-time
Goodwill	`Goodwill`	$157.30M	USD	Point-in-time
Goodwill	`Goodwill`	$157.30M	USD	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$117.80M	USD	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$119.20M	USD	Point-in-time
Right of use assets	`OperatingLeaseRightOfUseAsset`	$28.30M	USD	Point-in-time
Right of use assets	`OperatingLeaseRightOfUseAsset`	$20.20M	USD	Point-in-time
Other long-term assets	`OtherAssetsNoncurrent`	$10.60M	USD	Point-in-time
Other long-term assets	`OtherAssetsNoncurrent`	$9.80M	USD	Point-in-time
Total assets	`Assets`	$1.29B	USD	Point-in-time
Total assets	`Assets`	$1.34B	USD	Point-in-time
Total assets	`Assets`	$1.40B	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$163.90M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$187.10M	USD	Point-in-time
Short-term customer advances	`ContractWithCustomerLiabilityCurrent`	$258.00M	USD	Point-in-time
Short-term customer advances	`ContractWithCustomerLiabilityCurrent`	$227.10M	USD	Point-in-time
Short-term accrued warranty	`StandardProductWarrantyAccrualCurrent`	$19.20M	USD	Point-in-time
Short-term accrued warranty	`StandardProductWarrantyAccrualCurrent`	$18.90M	USD	Point-in-time
Short-term lease obligations	`OperatingLeaseLiabilityCurrent`	$6.80M	USD	Point-in-time
Short-term lease obligations	`OperatingLeaseLiabilityCurrent`	$6.10M	USD	Point-in-time
Other current liabilities	`OtherLiabilitiesCurrent`	$80.50M	USD	Point-in-time
Other current liabilities	`OtherLiabilitiesCurrent`	$82.40M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$522.60M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$527.40M	USD	Point-in-time
Long-term debt	`LongTermDebtNoncurrent`	$250.00M	USD	Point-in-time
Long-term debt	`LongTermDebtNoncurrent`	$230.00M	USD	Point-in-time
Long-term customer advances	`ContractWithCustomerLiabilityNoncurrent`	$124.40M	USD	Point-in-time
Long-term customer advances	`ContractWithCustomerLiabilityNoncurrent`	$74.80M	USD	Point-in-time
Deferred income taxes	`DeferredIncomeTaxLiabilitiesNet`	$21.00M	USD	Point-in-time
Deferred income taxes	`DeferredIncomeTaxLiabilitiesNet`	$21.50M	USD	Point-in-time
Long-term lease obligations	`OperatingLeaseLiabilityNoncurrent`	$14.20M	USD	Point-in-time
Long-term lease obligations	`OperatingLeaseLiabilityNoncurrent`	$21.60M	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$20.80M	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$20.90M	USD	Point-in-time
Total liabilities	`Liabilities`	$888.30M	USD	Point-in-time
Total liabilities	`Liabilities`	$960.90M	USD	Point-in-time
Commitments and contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Preferred stock ($.001 par value, 95,000,000 shares authorized; none issued or outstanding)	`PreferredStockValue`	-	USD	Point-in-time
Preferred stock ($.001 par value, 95,000,000 shares authorized; none issued or outstanding)	`PreferredStockValue`	-	USD	Point-in-time
Common stock ($.001 par value, 605,000,000 shares authorized; 59,515,037 and 59,323,534 shares issued and outstanding, respectively)	`CommonStockValue`	$100.00K	USD	Point-in-time
Common stock ($.001 par value, 605,000,000 shares authorized; 59,515,037 and 59,323,534 shares issued and outstanding, respectively)	`CommonStockValue`	$100.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$437.90M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$436.40M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$19.50M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$2.90M	USD	Point-in-time
Accumulated other comprehensive (loss) income	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$300.00K	USD	Point-in-time
Accumulated other comprehensive (loss) income	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-200.00K	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$488.10M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$456.30M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$440.70M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$518.80M	USD	Point-in-time
Total liabilities and shareholders' equity	`LiabilitiesAndStockholdersEquity`	$1.34B	USD	Point-in-time
Total liabilities and shareholders' equity	`LiabilitiesAndStockholdersEquity`	$1.40B	USD	Point-in-time

Income Statement 37 line items

Line Item	Tag	Value	Unit	Period
Net sales	`RevenueFromContractWithCustomerExcludingAssessedTax`	$537.00M	USD	1 Quarter
Net sales	`RevenueFromContractWithCustomerExcludingAssessedTax`	$583.50M	USD	1 Quarter
Cost of sales	`CostOfRevenue`	$525.60M	USD	1 Quarter
Cost of sales	`CostOfRevenue`	$481.20M	USD	1 Quarter
Gross profit	`GrossProfit`	$55.80M	USD	1 Quarter
Gross profit	`GrossProfit`	$57.90M	USD	1 Quarter
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$66.90M	USD	1 Quarter
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$47.60M	USD	1 Quarter
Research and development costs	`ResearchAndDevelopmentExpense`	$900.00K	USD	1 Quarter
Research and development costs	`ResearchAndDevelopmentExpense`	$1.20M	USD	1 Quarter
Amortization of intangible assets	`AmortizationOfIntangibleAssets`	$1.40M	USD	1 Quarter
Amortization of intangible assets	`AmortizationOfIntangibleAssets`	$2.40M	USD	1 Quarter
Restructuring costs	`RestructuringCharges`	$3.70M	USD	1 Quarter
Restructuring costs	`RestructuringCharges`	-	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$54.90M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$69.20M	USD	1 Quarter
Operating (loss) income	`OperatingIncomeLoss`	$-11.30M	USD	1 Quarter
Operating (loss) income	`OperatingIncomeLoss`	$900.00K	USD	1 Quarter
Interest expense, net	`InterestExpense`	$3.40M	USD	1 Quarter
Interest expense, net	`InterestExpense`	$7.10M	USD	1 Quarter
Loss on investment in China JV	`GainLossOnInvestments`	$-200.00K	USD	1 Quarter
Loss before benefit for income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-18.60M	USD	1 Quarter
Loss before benefit for income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-2.50M	USD	1 Quarter
Benefit for income taxes	`IncomeTaxExpenseBenefit`	$-5.10M	USD	1 Quarter
Benefit for income taxes	`IncomeTaxExpenseBenefit`	$-1.80M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-13.50M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-700.00K	USD	1 Quarter
Other comprehensive (loss) income, net of tax	`OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent`	$-500.00K	USD	1 Quarter
Other comprehensive (loss) income, net of tax	`OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent`	$100.00K	USD	1 Quarter
Comprehensive loss	`ComprehensiveIncomeNetOfTax`	$-14.00M	USD	1 Quarter
Comprehensive loss	`ComprehensiveIncomeNetOfTax`	$-600.00K	USD	1 Quarter
Basic	`EarningsPerShareBasic`	$-0.23	USD	1 Quarter
Basic	`EarningsPerShareBasic`	$-0.01	USD	1 Quarter
Diluted	`EarningsPerShareDiluted`	$-0.23	USD	1 Quarter
Diluted	`EarningsPerShareDiluted`	$-0.01	USD	1 Quarter
Dividends declared per common share	`CommonStockDividendsPerShareDeclared`	$0.05	USD	1 Quarter
Dividends declared per common share	`CommonStockDividendsPerShareDeclared`	$0.05	USD	1 Quarter

Cash Flow Statement 47 line items

Line Item	Tag	Value	Unit	Period
Net loss	`ProfitLoss`	$-700.00K	USD	1 Quarter
Net loss	`ProfitLoss`	$-13.50M	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$6.90M	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$9.60M	USD	1 Quarter
Amortization of debt issuance costs	`AmortizationOfFinancingCosts`	$400.00K	USD	1 Quarter
Amortization of debt issuance costs	`AmortizationOfFinancingCosts`	$400.00K	USD	1 Quarter
Stock-based compensation expense	`ShareBasedCompensation`	$5.90M	USD	1 Quarter
Stock-based compensation expense	`ShareBasedCompensation`	$2.30M	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$1.70M	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$500.00K	USD	1 Quarter
Gain on sale of assets	`GainLossOnSaleOfPropertyPlantEquipment`	$100.00K	USD	1 Quarter
Gain on sale of assets	`GainLossOnSaleOfPropertyPlantEquipment`	$100.00K	USD	1 Quarter
Loss on investment in China JV	`GainLossOnInvestments`	$-200.00K	USD	1 Quarter
Changes in operating assets and liabilities, net	`IncreaseDecreaseInOperatingCapital`	$7.20M	USD	1 Quarter
Changes in operating assets and liabilities, net	`IncreaseDecreaseInOperatingCapital`	$16.90M	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-6.90M	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-3.70M	USD	1 Quarter
Purchase of property, plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$3.80M	USD	1 Quarter
Purchase of property, plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$4.50M	USD	1 Quarter
Proceeds from sale of assets	`ProceedsFromSaleOfProductiveAssets`	$200.00K	USD	1 Quarter
Proceeds from sale of assets	`ProceedsFromSaleOfProductiveAssets`	$100.00K	USD	1 Quarter
Other investing activities	`PaymentsForProceedsFromOtherInvestingActivities`	$-600.00K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-3.00M	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-4.40M	USD	1 Quarter
Net proceeds from borrowings on revolving credit facility	`ProceedsFromRepaymentsOfLinesOfCredit`	$20.00M	USD	1 Quarter
Net proceeds from borrowings on revolving credit facility	`ProceedsFromRepaymentsOfLinesOfCredit`	$41.00M	USD	1 Quarter
Payment of dividends	`PaymentsOfDividends`	$3.10M	USD	1 Quarter
Payment of dividends	`PaymentsOfDividends`	$3.30M	USD	1 Quarter
Repurchase and retirement of common stock	`PaymentsForRepurchaseOfCommonStock`	$24.40M	USD	1 Quarter
Other financing activities	`ProceedsFromPaymentsForOtherFinancingActivities`	$-4.60M	USD	1 Quarter
Other financing activities	`ProceedsFromPaymentsForOtherFinancingActivities`	$-4.40M	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$8.70M	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$12.50M	USD	1 Quarter
Net increase in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$600.00K	USD	1 Quarter
Net increase in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$2.60M	USD	1 Quarter
Cash and cash equivalents, beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$23.00M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$13.90M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$20.40M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$13.30M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$23.00M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$13.90M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$20.40M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$13.30M	USD	Point-in-time
Interest	`InterestPaidNet`	$2.80M	USD	1 Quarter
Interest	`InterestPaidNet`	$5.50M	USD	1 Quarter
Income taxes, net of refunds	`IncomeTaxesPaidNet`	-	USD	1 Quarter
Income taxes, net of refunds	`IncomeTaxesPaidNet`	$-16.30M	USD	1 Quarter

Stockholders Equity 21 line items

Line Item	Tag	Value	Unit	Period
Balance	`StockholdersEquity`	$488.10M	USD	Point-in-time
Balance	`StockholdersEquity`	$456.30M	USD	Point-in-time
Balance	`StockholdersEquity`	$440.70M	USD	Point-in-time
Balance	`StockholdersEquity`	$518.80M	USD	Point-in-time
Net loss	`NetIncomeLoss`	$-13.50M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-700.00K	USD	1 Quarter
Stock-based compensation expense	`AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationStockOptionsRequisiteServicePeriodRecognition`	$2.30M	USD	1 Quarter
Stock-based compensation expense	`AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationStockOptionsRequisiteServicePeriodRecognition`	$5.90M	USD	1 Quarter
Vesting of restricted and performance stock units and awards, net of employee tax withholdings	`RestrictedStockUnitValueSharesIssuedNetOfTaxWithholdings`	$-2.10M	USD	1 Quarter
Vesting of restricted and performance stock units and awards, net of employee tax withholdings	`RestrictedStockUnitValueSharesIssuedNetOfTaxWithholdings`	$-1.30M	USD	1 Quarter
Issuance of restricted stock awards, net of forfeitures and employee tax withholdings on vested awards	`IssuanceOfRestrictedStockValueNetOfForfeituresAndTaxWithholdings`	$-3.10M	USD	1 Quarter
Issuance of restricted stock awards, net of forfeitures and employee tax withholdings on vested awards	`IssuanceOfRestrictedStockValueNetOfForfeituresAndTaxWithholdings`	$-2.60M	USD	1 Quarter
Other comprehensive income (loss), net of tax	`OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent`	$-500.00K	USD	1 Quarter
Other comprehensive income (loss), net of tax	`OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent`	$100.00K	USD	1 Quarter
Repurchase and retirement of common stock	`StockRepurchasedAndRetiredDuringPeriodValue`	$24.40M	USD	1 Quarter
Dividends declared on common stock	`DividendsCommonStock`	$3.30M	USD	1 Quarter
Dividends declared on common stock	`DividendsCommonStock`	$3.10M	USD	1 Quarter
Balance	`StockholdersEquity`	$488.10M	USD	Point-in-time
Balance	`StockholdersEquity`	$456.30M	USD	Point-in-time
Balance	`StockholdersEquity`	$440.70M	USD	Point-in-time
Balance	`StockholdersEquity`	$518.80M	USD	Point-in-time

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.