10-Q Filing

REV GROUP, INC. CIK: 1687221 Q1 2020

Filing Information

Form Type	10-Q
Accession Number	`0001564590-20-008716`
Period End Date	20200131
Filing Date	20200304
Fiscal Year	2020
Fiscal Period	Q1
XBRL Instance	revg-20200131.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 75 Income Statement 35 Cash Flow Statement 47 Stockholders Equity 17

Balance Sheet 75 line items

Line Item	Tag	Value	Unit	Period
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.00	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
Common stock, shares issued	`CommonStockSharesIssued`	62.68M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$67.30M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	62.22M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$3.30M	USD	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$230.50M	USD	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$253.50M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	62.68M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	62.22M	shares	Point-in-time
Inventories, net	`InventoryNet`	$513.40M	USD	Point-in-time
Inventories, net	`InventoryNet`	$532.70M	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$19.40M	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$22.90M	USD	Point-in-time
Assets held for sale	`AssetsOfDisposalGroupIncludingDiscontinuedOperationCurrent`	$19.50M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$853.40M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$809.10M	USD	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$201.70M	USD	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$198.50M	USD	Point-in-time
Goodwill	`Goodwill`	$159.80M	USD	Point-in-time
Goodwill	`Goodwill`	$161.80M	USD	Point-in-time
Goodwill	`Goodwill`	$159.80M	USD	Point-in-time
Goodwill	`Goodwill`	$159.80M	USD	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$159.90M	USD	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$155.90M	USD	Point-in-time
Right of use assets	`OperatingLeaseRightOfUseAsset`	$21.90M	USD	Point-in-time
Other long-term assets	`OtherAssetsNoncurrent`	$16.50M	USD	Point-in-time
Other long-term assets	`OtherAssetsNoncurrent`	$16.60M	USD	Point-in-time
Total assets	`Assets`	$1.41B	USD	Point-in-time
Total assets	`Assets`	$1.35B	USD	Point-in-time
Total assets	`Assets`	$1.37B	USD	Point-in-time
Current portion of long-term debt	`LongTermDebtCurrent`	$3.60M	USD	Point-in-time
Current portion of long-term debt	`LongTermDebtCurrent`	$3.40M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$187.40M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$200.80M	USD	Point-in-time
Customer advances	`ContractWithCustomerLiabilityCurrent`	$139.30M	USD	Point-in-time
Customer advances	`ContractWithCustomerLiabilityCurrent`	$129.90M	USD	Point-in-time
Accrued warranty	`StandardProductWarrantyAccrualCurrent`	$16.10M	USD	Point-in-time
Accrued warranty	`StandardProductWarrantyAccrualCurrent`	$15.60M	USD	Point-in-time
Short-term lease obligations	`OperatingLeaseLiabilityCurrent`	$7.20M	USD	Point-in-time
Liabilities held for sale	`LiabilitiesOfDisposalGroupIncludingDiscontinuedOperationCurrent`	$15.40M	USD	Point-in-time
Other current liabilities	`OtherLiabilitiesCurrent`	$55.00M	USD	Point-in-time
Other current liabilities	`OtherLiabilitiesCurrent`	$70.20M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$436.00M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$407.90M	USD	Point-in-time
Long-term debt, less current maturities	`LongTermDebtNoncurrent`	$458.30M	USD	Point-in-time
Long-term debt, less current maturities	`LongTermDebtNoncurrent`	$376.60M	USD	Point-in-time
Deferred income taxes	`DeferredTaxLiabilitiesNoncurrent`	$15.40M	USD	Point-in-time
Deferred income taxes	`DeferredTaxLiabilitiesNoncurrent`	$17.20M	USD	Point-in-time
Long-term lease obligations	`OperatingLeaseLiabilityNoncurrent`	$14.70M	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$12.00M	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$13.90M	USD	Point-in-time
Total liabilities	`Liabilities`	$841.90M	USD	Point-in-time
Total liabilities	`Liabilities`	$910.10M	USD	Point-in-time
Commitments and contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Common stock ($.001 par value, 605,000,000 shares authorized; 62,680,472 and 62,217,486 shares issued and outstanding, respectively)	`CommonStockValue`	$100.00K	USD	Point-in-time
Common stock ($.001 par value, 605,000,000 shares authorized; 62,680,472 and 62,217,486 shares issued and outstanding, respectively)	`CommonStockValue`	$100.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$494.20M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$490.80M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$15.80M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$3.30M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-1.70M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-1.70M	USD	Point-in-time
Total REV's shareholders' equity	`StockholdersEquity`	$505.00M	USD	Point-in-time
Total REV's shareholders' equity	`StockholdersEquity`	$495.90M	USD	Point-in-time
Non-controlling interest	`MinorityInterest`	$200.00K	USD	Point-in-time
Total shareholders' equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$515.10M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$531.40M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$495.90M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$505.20M	USD	Point-in-time
Total liabilities and shareholders' equity	`LiabilitiesAndStockholdersEquity`	$1.35B	USD	Point-in-time
Total liabilities and shareholders' equity	`LiabilitiesAndStockholdersEquity`	$1.41B	USD	Point-in-time

Income Statement 35 line items

Line Item	Tag	Value	Unit	Period
Net sales	`RevenueFromContractWithCustomerExcludingAssessedTax`	$532.10M	USD	1 Quarter
Net sales	`RevenueFromContractWithCustomerExcludingAssessedTax`	$518.70M	USD	1 Quarter
Cost of sales	`CostOfRevenue`	$472.40M	USD	1 Quarter
Cost of sales	`CostOfRevenue`	$484.70M	USD	1 Quarter
Gross profit	`GrossProfit`	$47.40M	USD	1 Quarter
Gross profit	`GrossProfit`	$46.30M	USD	1 Quarter
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$47.80M	USD	1 Quarter
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$46.30M	USD	1 Quarter
Research and development costs	`ResearchAndDevelopmentExpense`	$1.30M	USD	1 Quarter
Research and development costs	`ResearchAndDevelopmentExpense`	$1.20M	USD	1 Quarter
Amortization of intangible assets	`AmortizationOfIntangibleAssets`	$4.00M	USD	1 Quarter
Amortization of intangible assets	`AmortizationOfIntangibleAssets`	$4.60M	USD	1 Quarter
Restructuring	`RestructuringCharges`	$1.10M	USD	1 Quarter
Restructuring	`RestructuringCharges`	$600.00K	USD	1 Quarter
Impairment charges	`AssetImpairmentCharges`	$2.70M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$52.10M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$57.50M	USD	1 Quarter
Operating loss	`OperatingIncomeLoss`	$-4.70M	USD	1 Quarter
Operating loss	`OperatingIncomeLoss`	$-11.20M	USD	1 Quarter
Interest expense, net	`InterestExpense`	$7.80M	USD	1 Quarter
Interest expense, net	`InterestExpense`	$7.30M	USD	1 Quarter
Loss before benefit for income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-19.00M	USD	1 Quarter
Loss before benefit for income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-12.00M	USD	1 Quarter
Benefit for income taxes	`IncomeTaxExpenseBenefit`	$-2.60M	USD	1 Quarter
Benefit for income taxes	`IncomeTaxExpenseBenefit`	$-4.40M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-9.40M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-14.60M	USD	1 Quarter
Comprehensive loss	`ComprehensiveIncomeNetOfTax`	$-14.60M	USD	1 Quarter
Comprehensive loss	`ComprehensiveIncomeNetOfTax`	$-9.40M	USD	1 Quarter
Basic	`EarningsPerShareBasic`	$-0.15	USD	1 Quarter
Basic	`EarningsPerShareBasic`	$-0.23	USD	1 Quarter
Diluted	`EarningsPerShareDiluted`	$-0.23	USD	1 Quarter
Diluted	`EarningsPerShareDiluted`	$-0.15	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`	$-14.60M	USD	1 Quarter
Net loss	`ProfitLoss`	$-9.40M	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$12.40M	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$10.80M	USD	1 Quarter
Amortization of debt issuance costs	`AmortizationOfFinancingCosts`	$500.00K	USD	1 Quarter
Amortization of debt issuance costs	`AmortizationOfFinancingCosts`	$400.00K	USD	1 Quarter
Stock-based compensation expense	`ShareBasedCompensation`	$2.60M	USD	1 Quarter
Stock-based compensation expense	`ShareBasedCompensation`	$1.40M	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$1.80M	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$2.90M	USD	1 Quarter
Gain on sale of assets	`GainLossOnDispositionOfAssets1`	$500.00K	USD	1 Quarter
Gain on sale of assets	`GainLossOnDispositionOfAssets1`	$300.00K	USD	1 Quarter
Impairment charges	`AssetImpairmentCharges`	$2.70M	USD	1 Quarter
Changes in operating assets and liabilities, net	`IncreaseDecreaseInOperatingCapital`	$19.10M	USD	1 Quarter
Changes in operating assets and liabilities, net	`IncreaseDecreaseInOperatingCapital`	$44.30M	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-39.40M	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-13.30M	USD	1 Quarter
Purchase of property, plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$3.20M	USD	1 Quarter
Purchase of property, plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$6.30M	USD	1 Quarter
Purchase of rental and used vehicles	`PaymentsForRentalAndUsedVehicles`	$3.00M	USD	1 Quarter
Purchase of rental and used vehicles	`PaymentsForRentalAndUsedVehicles`	$2.70M	USD	1 Quarter
Proceeds from sale of assets	`ProceedsFromSaleOfProductiveAssets`	$2.10M	USD	1 Quarter
Proceeds from sale of assets	`ProceedsFromSaleOfProductiveAssets`	$3.50M	USD	1 Quarter
Proceeds from sale of business, net	`ProceedsFromDivestitureOfBusinesses`	$1.10M	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-1.30M	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-7.20M	USD	1 Quarter
Net proceeds from borrowings under April 2017 ABL Facility	`ProceedsFromLinesOfCredit`	$82.00M	USD	1 Quarter
Net proceeds from borrowings under April 2017 ABL Facility	`ProceedsFromLinesOfCredit`	$51.20M	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`	$-300.00K	USD	1 Quarter
Other financing activities	`ProceedsFromPaymentsForOtherFinancingActivities`	$100.00K	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$78.60M	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$48.20M	USD	1 Quarter
Net increase in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$1.60M	USD	1 Quarter
Net increase in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$64.00M	USD	1 Quarter
Cash and cash equivalents, beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$11.90M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$13.50M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$3.30M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$67.30M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$11.90M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$13.50M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$3.30M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$67.30M	USD	Point-in-time
Interest	`InterestPaidNet`	$7.50M	USD	1 Quarter
Interest	`InterestPaidNet`	$7.40M	USD	1 Quarter
Income taxes, net of refunds	`IncomeTaxesPaidNet`	$-8.40M	USD	1 Quarter

Stockholders Equity 17 line items

Line Item	Tag	Value	Unit	Period
Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$515.10M	USD	Point-in-time
Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$531.40M	USD	Point-in-time
Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$495.90M	USD	Point-in-time
Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$505.20M	USD	Point-in-time
Net loss	`NetIncomeLoss`	$-9.40M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-14.60M	USD	1 Quarter
Sale of business	`NoncontrollingInterestIncreaseFromSaleOfParentEquityInterest`	$200.00K	USD	1 Quarter
Stock-based compensation expense	`AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationStockOptionsRequisiteServicePeriodRecognition`	$2.60M	USD	1 Quarter
Stock-based compensation expense	`AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationStockOptionsRequisiteServicePeriodRecognition`	$1.40M	USD	1 Quarter
Exercise of common stock options	`StockIssuedDuringPeriodValueStockOptionsExercised`	$100.00K	USD	1 Quarter
Exercise of common stock options	`StockIssuedDuringPeriodValueStockOptionsExercised`	$800.00K	USD	1 Quarter
Dividends declared on common stock	`DividendsCommonStock`	$3.20M	USD	1 Quarter
Dividends declared on common stock	`DividendsCommonStock`	$3.10M	USD	1 Quarter
Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$515.10M	USD	Point-in-time
Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$531.40M	USD	Point-in-time
Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$495.90M	USD	Point-in-time
Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$505.20M	USD	Point-in-time

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