10-Q Filing

REV GROUP, INC. CIK: 1687221 Q1 2021

Filing Information

Form Type	10-Q
Accession Number	`0001564590-21-011894`
Period End Date	20210131
Filing Date	20210310
Fiscal Year	2021
Fiscal Period	Q1
XBRL Instance	revg-10q_20210131_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 85 Income Statement 30 Cash Flow Statement 46 Stockholders Equity 18

Balance Sheet 85 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
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$9.10M	USD	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$11.40M	USD	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$229.30M	USD	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$207.70M	USD	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Inventories, net	`InventoryNet`	$533.20M	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`	$537.20M	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
Other current assets	`OtherAssetsCurrent`	$17.60M	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$34.10M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	63.40M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	64.48M	shares	Point-in-time
Assets held for sale	`AssetsOfDisposalGroupIncludingDiscontinuedOperationCurrent`	$9.70M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	64.48M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$812.00M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$777.30M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	63.40M	shares	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$155.90M	USD	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$168.40M	USD	Point-in-time
Goodwill	`Goodwill`	$159.80M	USD	Point-in-time
Goodwill	`Goodwill`	$157.30M	USD	Point-in-time
Goodwill	`Goodwill`	$157.30M	USD	Point-in-time
Goodwill	`Goodwill`	$159.80M	USD	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$136.10M	USD	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$133.60M	USD	Point-in-time
Right of use assets	`OperatingLeaseRightOfUseAsset`	$19.60M	USD	Point-in-time
Right of use assets	`OperatingLeaseRightOfUseAsset`	$23.20M	USD	Point-in-time
Other long-term assets	`OtherAssetsNoncurrent`	$15.30M	USD	Point-in-time
Other long-term assets	`OtherAssetsNoncurrent`	$15.40M	USD	Point-in-time
Total assets	`Assets`	$1.41B	USD	Point-in-time
Total assets	`Assets`	$1.26B	USD	Point-in-time
Total assets	`Assets`	$1.31B	USD	Point-in-time
Current portion of long-term debt	`LongTermDebtCurrent`	$1.70M	USD	Point-in-time
Current portion of long-term debt	`LongTermDebtCurrent`	$1.70M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$128.70M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$169.50M	USD	Point-in-time
Customer advances	`ContractWithCustomerLiabilityCurrent`	$170.10M	USD	Point-in-time
Customer advances	`ContractWithCustomerLiabilityCurrent`	$167.60M	USD	Point-in-time
Accrued warranty	`StandardProductWarrantyAccrualCurrent`	$24.10M	USD	Point-in-time
Accrued warranty	`StandardProductWarrantyAccrualCurrent`	$22.30M	USD	Point-in-time
Short-term lease obligations	`OperatingLeaseLiabilityCurrent`	$7.60M	USD	Point-in-time
Short-term lease obligations	`OperatingLeaseLiabilityCurrent`	$8.40M	USD	Point-in-time
Liabilities held for sale	`LiabilitiesOfDisposalGroupIncludingDiscontinuedOperationCurrent`	$9.30M	USD	Point-in-time
Other current liabilities	`OtherLiabilitiesCurrent`	$73.50M	USD	Point-in-time
Other current liabilities	`OtherLiabilitiesCurrent`	$65.90M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$447.30M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$403.10M	USD	Point-in-time
Long-term debt, less current maturities	`LongTermDebtNoncurrent`	$340.50M	USD	Point-in-time
Long-term debt, less current maturities	`LongTermDebtNoncurrent`	$330.40M	USD	Point-in-time
Deferred income taxes	`DeferredIncomeTaxLiabilitiesNet`	$2.90M	USD	Point-in-time
Deferred income taxes	`DeferredIncomeTaxLiabilitiesNet`	$4.10M	USD	Point-in-time
Long-term lease obligations	`OperatingLeaseLiabilityNoncurrent`	$16.90M	USD	Point-in-time
Long-term lease obligations	`OperatingLeaseLiabilityNoncurrent`	$13.50M	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$32.70M	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$32.40M	USD	Point-in-time
Total liabilities	`Liabilities`	$783.80M	USD	Point-in-time
Total liabilities	`Liabilities`	$840.00M	USD	Point-in-time
Commitments and contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Preferred stock ($.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; 64,479,781 and 63,403,326 shares issued and outstanding, respectively)	`CommonStockValue`	$100.00K	USD	Point-in-time
Common stock ($.001 par value, 605,000,000 shares authorized; 64,479,781 and 63,403,326 shares issued and outstanding, respectively)	`CommonStockValue`	$100.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$496.10M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$499.10M	USD	Point-in-time
Retained deficit	`RetainedEarningsAccumulatedDeficit`	$-21.10M	USD	Point-in-time
Retained deficit	`RetainedEarningsAccumulatedDeficit`	$-21.10M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-2.80M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-2.80M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$505.20M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$475.30M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$495.90M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$472.30M	USD	Point-in-time
Total liabilities and shareholders' equity	`LiabilitiesAndStockholdersEquity`	$1.26B	USD	Point-in-time
Total liabilities and shareholders' equity	`LiabilitiesAndStockholdersEquity`	$1.31B	USD	Point-in-time

Income Statement 30 line items

Line Item	Tag	Value	Unit	Period
Net sales	`RevenueFromContractWithCustomerExcludingAssessedTax`	$532.10M	USD	1 Quarter
Net sales	`RevenueFromContractWithCustomerExcludingAssessedTax`	$554.00M	USD	1 Quarter
Cost of sales	`CostOfRevenue`	$492.30M	USD	1 Quarter
Cost of sales	`CostOfRevenue`	$484.70M	USD	1 Quarter
Gross profit	`GrossProfit`	$61.70M	USD	1 Quarter
Gross profit	`GrossProfit`	$47.40M	USD	1 Quarter
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$46.30M	USD	1 Quarter
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$47.10M	USD	1 Quarter
Research and development costs	`ResearchAndDevelopmentExpense`	$1.20M	USD	1 Quarter
Research and development costs	`ResearchAndDevelopmentExpense`	$1.30M	USD	1 Quarter
Amortization of intangible assets	`AmortizationOfIntangibleAssets`	$4.00M	USD	1 Quarter
Amortization of intangible assets	`AmortizationOfIntangibleAssets`	$2.60M	USD	1 Quarter
Restructuring	`RestructuringCharges`	$600.00K	USD	1 Quarter
Restructuring	`RestructuringCharges`	$1.00M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$52.00M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$52.10M	USD	1 Quarter
Operating income (loss)	`OperatingIncomeLoss`	$-4.70M	USD	1 Quarter
Operating income (loss)	`OperatingIncomeLoss`	$9.70M	USD	1 Quarter
Interest expense, net	`InterestExpense`	$7.30M	USD	1 Quarter
Interest expense, net	`InterestExpense`	$5.50M	USD	1 Quarter
Loss on business held for sale	`GainLossOnSaleOfBusiness`	$-3.80M	USD	1 Quarter
Loss on acquisition of business	`LossOnAcquisitionOfBusiness`	$400.00K	USD	1 Quarter
Income (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`	-	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$-9.40M	USD	1 Quarter
Comprehensive income (loss)	`ComprehensiveIncomeNetOfTax`	$-9.40M	USD	1 Quarter
Basic	`EarningsPerShareBasic`	$-0.15	USD	1 Quarter
Diluted	`EarningsPerShareDiluted`	$-0.15	USD	1 Quarter
Dividends declared per common share	`CommonStockDividendsPerShareDeclared`	$0.05	USD	1 Quarter

Cash Flow Statement 46 line items

Line Item	Tag	Value	Unit	Period
Net income (loss)	`ProfitLoss`	$-9.40M	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$8.60M	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`	$600.00K	USD	1 Quarter
Stock-based compensation expense	`ShareBasedCompensation`	$1.90M	USD	1 Quarter
Stock-based compensation expense	`ShareBasedCompensation`	$2.60M	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$1.30M	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$1.80M	USD	1 Quarter
Gain on sale of assets	`GainLossOnSaleOfPropertyPlantEquipment`	$1.50M	USD	1 Quarter
Gain on sale of assets	`GainLossOnSaleOfPropertyPlantEquipment`	$500.00K	USD	1 Quarter
Loss on business held for sale	`GainLossOnSaleOfBusiness`	$-3.80M	USD	1 Quarter
Loss on acquisition of business	`BusinessCombinationBargainPurchaseLossRecognizedAmount`	$400.00K	USD	1 Quarter
Changes in operating assets and liabilities, net	`IncreaseDecreaseInOperatingCapital`	$19.10M	USD	1 Quarter
Changes in operating assets and liabilities, net	`IncreaseDecreaseInOperatingCapital`	$13.20M	USD	1 Quarter
Net cash provided by (used in) operating activities	`NetCashProvidedByUsedInOperatingActivities`	$1.90M	USD	1 Quarter
Net cash provided by (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`	$2.90M	USD	1 Quarter
Purchase of rental and used vehicles	`PaymentsForRentalAndUsedVehicles`	$2.70M	USD	1 Quarter
Proceeds from sale of assets	`ProceedsFromSaleOfProductiveAssets`	$10.00M	USD	1 Quarter
Proceeds from sale of assets	`ProceedsFromSaleOfProductiveAssets`	$3.50M	USD	1 Quarter
Proceeds from sale of business	`ProceedsFromDivestitureOfBusinesses`	$1.10M	USD	1 Quarter
Net cash provided by (used in) provided by investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-1.30M	USD	1 Quarter
Net cash provided by (used in) provided by investing activities	`NetCashProvidedByUsedInInvestingActivities`	$7.10M	USD	1 Quarter
Net (repayments) proceeds from borrowings under ABL Facility	`ProceedsFromRepaymentsOfLinesOfCredit`	$-10.00M	USD	1 Quarter
Net (repayments) proceeds from borrowings under ABL Facility	`ProceedsFromRepaymentsOfLinesOfCredit`	$82.00M	USD	1 Quarter
Repayment of long-term debt	`RepaymentsOfLongTermDebt`	$400.00K	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`	$-900.00K	USD	1 Quarter
Net cash (used in) provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-11.30M	USD	1 Quarter
Net cash (used in) provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$78.60M	USD	1 Quarter
Net (decrease) increase in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$-2.30M	USD	1 Quarter
Net (decrease) increase in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$64.00M	USD	1 Quarter
Cash and cash equivalents, beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$9.10M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$11.40M	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`	$9.10M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$11.40M	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`	$6.60M	USD	1 Quarter
Interest	`InterestPaidNet`	$4.70M	USD	1 Quarter
Income taxes, net of refunds	`IncomeTaxesPaidNet`	$-11.50M	USD	1 Quarter

Stockholders Equity 18 line items

Line Item	Tag	Value	Unit	Period
Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$505.20M	USD	Point-in-time
Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$475.30M	USD	Point-in-time
Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$495.90M	USD	Point-in-time
Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$472.30M	USD	Point-in-time
Net income (loss)	`NetIncomeLoss`	$-9.40M	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`	$1.90M	USD	1 Quarter
Exercise of common stock options	`StockIssuedDuringPeriodValueStockOptionsExercised`	$800.00K	USD	1 Quarter
Exercise of common stock options	`StockIssuedDuringPeriodValueStockOptionsExercised`	$200.00K	USD	1 Quarter
Vesting and issuance of restricted stock units and awards, net of forfeitures and employee tax withholdings	`RestrictedStockUnitValueSharesIssuedNetOfForfeitureAndTaxWithHoldings`	$-1.10M	USD	1 Quarter
Settlement of liability classified award	`AdjustmentsToAdditionalPaidInCapitalAwardsClassifiedToLiability`	$2.00M	USD	1 Quarter
Dividends declared on common stock	`DividendsCommonStock`	$3.10M	USD	1 Quarter
Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$505.20M	USD	Point-in-time
Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$475.30M	USD	Point-in-time
Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$495.90M	USD	Point-in-time
Balance	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$472.30M	USD	Point-in-time
Sale of business	`NoncontrollingInterestIncreaseFromSaleOfParentEquityInterest`	$200.00K	USD	1 Quarter

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