10-Q Filing

REV GROUP, INC. CIK: 1687221 Q1 2024

Filing Information

Form Type	10-Q
Accession Number	`0000950170-24-026869`
Period End Date	20240131
Filing Date	20240306
Fiscal Year	2024
Fiscal Period	Q1
XBRL Instance	revg-20240131_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 84 Income Statement 36 Cash Flow Statement 44 Stockholders Equity 20

Balance Sheet 84 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`	$87.90M	USD	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$21.30M	USD	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$223.50M	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`	$226.50M	USD	Point-in-time
Inventories, net	`InventoryNet`	$657.70M	USD	Point-in-time
Inventories, net	`InventoryNet`	$650.40M	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
Other current assets	`OtherAssetsCurrent`	$27.70M	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$26.80M	USD	Point-in-time
Common stock, authorized shares	`CommonStockSharesAuthorized`	605.00M	shares	Point-in-time
Common stock, authorized shares	`CommonStockSharesAuthorized`	605.00M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$988.60M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	59.51M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	59.78M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$933.20M	USD	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$159.50M	USD	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$153.10M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	59.51M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	59.78M	shares	Point-in-time
Goodwill	`Goodwill`	$157.30M	USD	Point-in-time
Goodwill	`Goodwill`	$157.30M	USD	Point-in-time
Goodwill	`Goodwill`	$157.30M	USD	Point-in-time
Goodwill	`Goodwill`	$138.70M	USD	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$99.00M	USD	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$115.70M	USD	Point-in-time
Right of use assets	`OperatingLeaseRightOfUseAsset`	$37.00M	USD	Point-in-time
Right of use assets	`OperatingLeaseRightOfUseAsset`	$35.00M	USD	Point-in-time
Other long-term assets	`OtherAssetsNoncurrent`	$7.70M	USD	Point-in-time
Other long-term assets	`OtherAssetsNoncurrent`	$6.70M	USD	Point-in-time
Total assets	`Assets`	$1.42B	USD	Point-in-time
Total assets	`Assets`	$1.40B	USD	Point-in-time
Total assets	`Assets`	$1.41B	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$165.00M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$208.30M	USD	Point-in-time
Short-term customer advances	`ContractWithCustomerLiabilityCurrent`	$217.00M	USD	Point-in-time
Short-term customer advances	`ContractWithCustomerLiabilityCurrent`	$214.50M	USD	Point-in-time
Dividends payable	`DividendsPayableCurrent`	$179.30M	USD	Point-in-time
Income tax payable	`AccruedIncomeTaxesCurrent`	$66.10M	USD	Point-in-time
Income tax payable	`AccruedIncomeTaxesCurrent`	$11.80M	USD	Point-in-time
Short-term accrued warranty	`StandardProductWarrantyAccrualCurrent`	$20.20M	USD	Point-in-time
Short-term accrued warranty	`StandardProductWarrantyAccrualCurrent`	$23.40M	USD	Point-in-time
Short-term lease obligations	`OperatingLeaseLiabilityCurrent`	$7.40M	USD	Point-in-time
Short-term lease obligations	`OperatingLeaseLiabilityCurrent`	$7.20M	USD	Point-in-time
Other current liabilities	`OtherLiabilitiesCurrent`	$78.50M	USD	Point-in-time
Other current liabilities	`OtherLiabilitiesCurrent`	$91.80M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$557.20M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$733.30M	USD	Point-in-time
Long-term debt	`LongTermDebtNoncurrent`	$150.00M	USD	Point-in-time
Long-term customer advances	`ContractWithCustomerLiabilityNoncurrent`	$128.80M	USD	Point-in-time
Long-term customer advances	`ContractWithCustomerLiabilityNoncurrent`	$142.90M	USD	Point-in-time
Deferred income taxes	`DeferredIncomeTaxLiabilitiesNet`	$8.90M	USD	Point-in-time
Deferred income taxes	`DeferredIncomeTaxLiabilitiesNet`	$8.20M	USD	Point-in-time
Long-term lease obligations	`OperatingLeaseLiabilityNoncurrent`	$28.40M	USD	Point-in-time
Long-term lease obligations	`OperatingLeaseLiabilityNoncurrent`	$30.00M	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$24.10M	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$25.60M	USD	Point-in-time
Total liabilities	`Liabilities`	$925.00M	USD	Point-in-time
Total liabilities	`Liabilities`	$912.40M	USD	Point-in-time
Commitments and contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Preferred stock ($.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; 59,775,713 and 59,505,829 shares issued and outstanding, respectively)	`CommonStockValue`	$100.00K	USD	Point-in-time
Common stock ($.001 par value, 605,000,000 shares authorized; 59,775,713 and 59,505,829 shares issued and outstanding, respectively)	`CommonStockValue`	$100.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$445.00M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$443.00M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$53.00M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$52.70M	USD	Point-in-time
Accumulated other comprehensive income	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$200.00K	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$496.10M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$498.00M	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 liabilities and shareholders' equity	`LiabilitiesAndStockholdersEquity`	$1.42B	USD	Point-in-time
Total liabilities and shareholders' equity	`LiabilitiesAndStockholdersEquity`	$1.41B	USD	Point-in-time

Income Statement 36 line items

Line Item	Tag	Value	Unit	Period
Net sales	`RevenueFromContractWithCustomerExcludingAssessedTax`	$583.50M	USD	1 Quarter
Net sales	`RevenueFromContractWithCustomerExcludingAssessedTax`	$586.00M	USD	1 Quarter
Cost of sales	`CostOfRevenue`	$523.10M	USD	1 Quarter
Cost of sales	`CostOfRevenue`	$525.60M	USD	1 Quarter
Gross profit	`GrossProfit`	$62.90M	USD	1 Quarter
Gross profit	`GrossProfit`	$57.90M	USD	1 Quarter
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$55.40M	USD	1 Quarter
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$67.80M	USD	1 Quarter
Amortization of intangible assets	`AmortizationOfIntangibleAssets`	$600.00K	USD	1 Quarter
Amortization of intangible assets	`AmortizationOfIntangibleAssets`	$1.40M	USD	1 Quarter
Restructuring	`RestructuringCharges`	$800.00K	USD	1 Quarter
Impairment charges	`AssetImpairmentCharges`	$12.60M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$69.40M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$69.20M	USD	1 Quarter
Operating loss	`OperatingIncomeLoss`	$-6.50M	USD	1 Quarter
Operating loss	`OperatingIncomeLoss`	$-11.30M	USD	1 Quarter
Interest expense, net	`InterestExpense`	$6.80M	USD	1 Quarter
Interest expense, net	`InterestExpense`	$7.10M	USD	1 Quarter
Gain on sale of business	`GainLossOnSaleOfProject`	$257.50M	USD	1 Quarter
Other expense	`OtherNonoperatingExpense`	$200.00K	USD	1 Quarter
Income (loss) before provision (benefit) for income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-18.60M	USD	1 Quarter
Income (loss) before provision (benefit) for income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$244.20M	USD	1 Quarter
Provision (benefit) for income taxes	`IncomeTaxExpenseBenefit`	$61.50M	USD	1 Quarter
Provision (benefit) for income taxes	`IncomeTaxExpenseBenefit`	$-5.10M	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$182.70M	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$-13.50M	USD	1 Quarter
Other comprehensive loss, net of tax	`OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent`	$-500.00K	USD	1 Quarter
Other comprehensive loss, net of tax	`OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent`	$-200.00K	USD	1 Quarter
Comprehensive income (loss)	`ComprehensiveIncomeNetOfTax`	$182.50M	USD	1 Quarter
Comprehensive income (loss)	`ComprehensiveIncomeNetOfTax`	$-14.00M	USD	1 Quarter
Basic	`EarningsPerShareBasic`	$-0.23	USD	1 Quarter
Basic	`EarningsPerShareBasic`	$3.09	USD	1 Quarter
Diluted	`EarningsPerShareDiluted`	$3.06	USD	1 Quarter
Diluted	`EarningsPerShareDiluted`	$-0.23	USD	1 Quarter
Dividends declared per common share	`CommonStockDividendsPerShareDeclared`	$0.05	USD	1 Quarter
Dividends declared per common share	`CommonStockDividendsPerShareDeclared`	$3.05	USD	1 Quarter

Cash Flow Statement 44 line items

Line Item	Tag	Value	Unit	Period
Net income (loss)	`ProfitLoss`	$182.70M	USD	1 Quarter
Net income (loss)	`ProfitLoss`	$-13.50M	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$6.50M	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$6.90M	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`	$2.90M	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$500.00K	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$700.00K	USD	1 Quarter
Impairment charges	`AssetImpairmentCharges`	$12.60M	USD	1 Quarter
Gain on sale of business	`GainLossOnSaleOfProject`	$257.50M	USD	1 Quarter
Changes in operating assets and liabilities, net	`IncreaseDecreaseInOperatingCapital`	$7.10M	USD	1 Quarter
Changes in operating assets and liabilities, net	`IncreaseDecreaseInOperatingCapital`	$18.00M	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-6.90M	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-69.70M	USD	1 Quarter
Purchase of property, plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$10.50M	USD	1 Quarter
Purchase of property, plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$3.80M	USD	1 Quarter
Proceeds from sale of assets	`ProceedsFromSaleOfProductiveAssets`	$200.00K	USD	1 Quarter
Proceeds from sale of business	`ProceedsFromDivestitureOfBusinesses`	$308.20M	USD	1 Quarter
Other investing activities	`PaymentsForProceedsFromOtherInvestingActivities`	$-600.00K	USD	1 Quarter
Net cash provided by (used in) investing activities	`NetCashProvidedByUsedInInvestingActivities`	$297.70M	USD	1 Quarter
Net cash provided by (used in) investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-3.00M	USD	1 Quarter
Net (payments) proceeds from borrowings on revolving credit facility	`ProceedsFromRepaymentsOfLinesOfCredit`	$-150.00M	USD	1 Quarter
Net (payments) proceeds from borrowings on revolving credit facility	`ProceedsFromRepaymentsOfLinesOfCredit`	$20.00M	USD	1 Quarter
Payment of dividends	`PaymentsOfDividends`	$3.10M	USD	1 Quarter
Payment of dividends	`PaymentsOfDividends`	$3.10M	USD	1 Quarter
Other financing activities	`ProceedsFromPaymentsForOtherFinancingActivities`	$-4.40M	USD	1 Quarter
Other financing activities	`ProceedsFromPaymentsForOtherFinancingActivities`	$-8.30M	USD	1 Quarter
Net cash (used in) provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-161.40M	USD	1 Quarter
Net cash (used in) provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$12.50M	USD	1 Quarter
Net increase in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$66.60M	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`	$87.90M	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`	$21.30M	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`	$87.90M	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`	$21.30M	USD	Point-in-time
Interest	`InterestPaidNet`	$6.20M	USD	1 Quarter
Interest	`InterestPaidNet`	$5.50M	USD	1 Quarter
Income taxes, net of refunds	`IncomeTaxesPaidNet`	$6.80M	USD	1 Quarter

Stockholders Equity 20 line items

Line Item	Tag	Value	Unit	Period
Balance	`StockholdersEquity`	$496.10M	USD	Point-in-time
Balance	`StockholdersEquity`	$498.00M	USD	Point-in-time
Balance	`StockholdersEquity`	$456.30M	USD	Point-in-time
Balance	`StockholdersEquity`	$440.70M	USD	Point-in-time
Net income (loss)	`NetIncomeLoss`	$182.70M	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$-13.50M	USD	1 Quarter
Stock-based compensation expense	`AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationStockOptionsRequisiteServicePeriodRecognition`	$5.90M	USD	1 Quarter
Stock-based compensation expense	`AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationStockOptionsRequisiteServicePeriodRecognition`	$2.90M	USD	1 Quarter
Vesting of restricted and performance stock units and awards, net of employee tax withholdings	`RestrictedStockUnitValueSharesIssuedNetOfTaxWithholdings`	$-2.00M	USD	1 Quarter
Vesting of restricted and performance stock units and awards, net of employee tax withholdings	`RestrictedStockUnitValueSharesIssuedNetOfTaxWithholdings`	$-1.30M	USD	1 Quarter
Other comprehensive loss, net of tax	`OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent`	$-500.00K	USD	1 Quarter
Other comprehensive loss, net of tax	`OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent`	$-200.00K	USD	1 Quarter
Issuances of restricted stock awards, net of employee tax withholdings on vested awards	`IssuanceOfRestrictedStockValueNetOfTaxWithholdings`	$-2.90M	USD	1 Quarter
Forfeitures of restricted stock awards and employee tax withholdings on vested awards, net of issuances	`ForfeituresOfRestrictedStockAwardsAndEmployeeTaxWithholdingsOnVestedAwardsValueNetOfIssuances`	$-3.10M	USD	1 Quarter
Dividends declared on common stock	`DividendsCommonStock`	$182.40M	USD	1 Quarter
Dividends declared on common stock	`DividendsCommonStock`	$3.10M	USD	1 Quarter
Balance	`StockholdersEquity`	$496.10M	USD	Point-in-time
Balance	`StockholdersEquity`	$498.00M	USD	Point-in-time
Balance	`StockholdersEquity`	$456.30M	USD	Point-in-time
Balance	`StockholdersEquity`	$440.70M	USD	Point-in-time

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