REV (REVG) 10-Q 5 Jun 24 2024 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Apr. 30, 2024	May 29, 2024
Cover [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Apr. 30, 2024
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	Q2
Current Fiscal Year End Date	--10-31
Entity File Number	001-37999
Trading Symbol	REVG
Title of 12(b) Security	Common Stock ($0.001 Par Value)
Security Exchange Name	NYSE
Entity Registrant Name	REV Group, Inc.
Entity Central Index Key	0001687221
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	26-3013415
Entity Address, Address Line One	245 South Executive Drive, Suite 100
Entity Address, City or Town	Brookfield
Entity Address, State or Province	WI
Entity Address, Postal Zip Code	53005
City Area Code	414
Local Phone Number	290-0190
Entity Interactive Data Current	Yes
Entity Current Reporting Status	Yes
Entity Filer Category	Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		51,914,477
Document Transition Report	false
Document Quarterly Report	true

Condensed Unaudited Consolidate

Condensed Unaudited Consolidated Balance Sheets - USD ($) $ in Millions	Apr. 30, 2024	Oct. 31, 2023
Current assets:
Cash and cash equivalents	$ 38.2	$ 21.3
Accounts receivable, net	210.6	226.5
Inventories, net	630.4	657.7
Other current assets	26	27.7
Total current assets	905.2	933.2
Property, plant and equipment, net	150.1	159.5
Goodwill	137.7	157.3
Intangible assets, net	98.3	115.7
Right of use assets	32.7	37
Other long-term assets	6.4	7.7
Total assets	1,330.4	1,410.4
Current liabilities:
Accounts payable	190.2	208.3
Short-term customer advances	176.9	214.5
Income tax payable	35.5	11.8
Short-term accrued warranty	15.8	23.4
Short-term lease obligations	6.8	7.4
Other current liabilities	93.3	91.8
Total current liabilities	518.5	557.2
Long-term debt	220	150
Long-term customer advances	149.9	142.9
Deferred income taxes	9.9	8.2
Long-term lease obligations	26.6	30
Other long-term liabilities	25.8	24.1
Total liabilities	950.7	912.4
Commitments and contingencies
Shareholders' Equity:
Preferred stock ($.001 par value, 95,000,000 shares authorized; none issued or outstanding)
Common stock ($.001 par value, 605,000,000 shares authorized; 51,914,477 and 59,505,829 shares issued and outstanding, respectively)	0.1	0.1
Additional paid-in capital	314.5	445
Retained earnings	65.1	52.7
Accumulated other comprehensive income		0.2
Total shareholders' equity	379.7	498
Total liabilities and shareholders' equity	$ 1,330.4	$ 1,410.4

Condensed Unaudited Consolida_2

Condensed Unaudited Consolidated Balance Sheets (Parenthetical) - $ / shares	Apr. 30, 2024	Oct. 31, 2023
Statement of Financial Position [Abstract]
Preferred stock, par value	$ 0.001	$ 0.001
Preferred stock, authorized shares	95,000,000	95,000,000
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Common stock, par value	$ 0.001	$ 0.001
Common stock, authorized shares	605,000,000	605,000,000
Common stock, shares issued	51,914,477	59,505,829
Common stock, shares outstanding	51,914,477	59,505,829

Condensed Unaudited Consolida_3

Condensed Unaudited Consolidated Statements of Income and Comprehensive Income - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Apr. 30, 2024	Apr. 30, 2023	Apr. 30, 2024	Apr. 30, 2023
Income Statement [Abstract]
Net sales	$ 616.9	$ 681.2	$ 1,202.9	$ 1,264.7
Cost of sales	539.6	598.7	1,062.7	1,124.3
Gross profit	77.3	82.5	140.2	140.4
Operating expenses:
Selling, general and administrative	50.1	52.5	105.5	120.3
Amortization of intangible assets	0.6	1	1.2	2.4
Restructuring	3.7		4.5
Impairment charges			12.6
Total operating expenses	54.4	53.5	123.8	122.7
Operating income	22.9	29	16.4	17.7
Interest expense, net	6.5	7.4	13.4	14.5
(Gain) Loss on sale of business	(1.5)	1.1	(259)	1.1
Other expense		0.5		0.7
Income before provision for income taxes	17.9	20	262	1.4
Provision for income taxes	2.7	5.8	64.1	0.7
Net income	15.2	14.2	197.9	0.7
Other comprehensive loss, net of tax			(0.2)	(0.5)
Comprehensive income	$ 15.2	$ 14.2	$ 197.7	$ 0.2
Net income per common share:
Basic	$ 0.29	$ 0.24	$ 3.53	$ 0.01
Diluted	0.28	0.24	3.49	0.01
Dividends declared per common share	$ 0.05	$ 0.05	$ 3.1	$ 0.1

Condensed Unaudited Consolida_4

Condensed Unaudited Consolidated Statements of Cash Flows - USD ($) $ in Millions	6 Months Ended
	Apr. 30, 2024	Apr. 30, 2023
Cash flows from operating activities:
Net income	$ 197.9	$ 0.7
Adjustments to reconcile net income to net cash (used in) provided by operating activities:
Depreciation and amortization	13	13.4
Stock-based compensation expense	5.9	7.5
Deferred income taxes	1.7	0.7
Impairment charges	12.6
(Gain) Loss on sale of business	(259)	1.1
Other non-cash adjustments	0.9	1.1
Changes in operating assets and liabilities, net	(2.6)	(16.3)
Net cash (used in) provided by operating activities	(29.6)	8.2
Cash flows from investing activities:
Purchase of property, plant and equipment	(16.4)	(10.6)
Proceeds from sale of business	318.2	0.6
Other investing activities	0.1	1.1
Net cash provided by (used in) investing activities	301.9	(8.9)
Cash flows from financing activities:
Net proceeds from borrowings on revolving credit facility	70
Payment of dividends	(185.5)	(6.1)
Repurchase and retirement of common stock	(126.1)	0
Other financing activities	(13.8)	(4.6)
Net cash used in financing activities	(255.4)	(10.7)
Net increase (decrease) in cash and cash equivalents	16.9	(11.4)
Cash and cash equivalents, beginning of period	21.3	20.4
Cash and cash equivalents, end of period	38.2	9
Supplemental Cash Flow Information [Abstract]
Interest	11.3	12.4
Income taxes, net of refunds	$ 42.5	$ 0.6

Condensed Unaudited Consolida_5

Condensed Unaudited Consolidated Statements of Shareholders' Equity - USD ($) $ in Millions	Total	Common Stock [Member]	Additional Paid-in Capital [Member]	Retained Earnings [Member]	Accumulated Other Comprehensive Income (Loss) [Member]
Balance at Oct. 31, 2022	$ 456.3	$ 0.1	$ 436.4	$ 19.5	$ 0.3
Balance, shares at Oct. 31, 2022		59,323,534
Net income (loss)	(13.5)			(13.5)
Stock-based compensation expense	5.9		5.9
Vesting of restricted and performance stock units and awards, net of employee tax withholdings	(1.3)		(1.3)
Vesting of restricted and performance stock units and awards, net of employee tax withholdings, shares		214,746
Other comprehensive loss, net of tax	(0.5)				(0.5)
Forfeitures of restricted stock awards and employee tax withholdings on vested awards, net of issuances	(3.1)		(3.1)
Forfeitures of restricted stock awards and employee tax withholdings on vested awards, net of issuances, Shares		(23,243)
Dividends declared on common stock	(3.1)			(3.1)
Balance at Jan. 31, 2023	440.7	$ 0.1	437.9	2.9	(0.2)
Balance, shares at Jan. 31, 2023		59,515,037
Balance at Oct. 31, 2022	456.3	$ 0.1	436.4	19.5	0.3
Balance, shares at Oct. 31, 2022		59,323,534
Net income (loss)	0.7
Other comprehensive loss, net of tax	(0.5)
Balance at Apr. 30, 2023	453.3	$ 0.1	439.3	14.1	(0.2)
Balance, shares at Apr. 30, 2023		59,403,839
Balance at Jan. 31, 2023	440.7	$ 0.1	437.9	2.9	(0.2)
Balance, shares at Jan. 31, 2023		59,515,037
Net income (loss)	14.2			14.2
Stock-based compensation expense	1.6		1.6
Vesting of restricted and performance stock units and awards, net of employee tax withholdings	(0.1)		(0.1)
Vesting of restricted and performance stock units and awards, net of employee tax withholdings, shares		9,321
Issuance of restricted stock shares net of forfeitures and tax withholdings, Shares		(120,519)
Issuance of restricted stock awards, net of forfeitures and employee tax withholdings on vested awards	(0.1)		(0.1)
Dividends declared on common stock	(3)			(3)
Balance at Apr. 30, 2023	453.3	$ 0.1	439.3	14.1	(0.2)
Balance, shares at Apr. 30, 2023		59,403,839
Balance at Oct. 31, 2023	498	$ 0.1	445	52.7	0.2
Balance, shares at Oct. 31, 2023		59,505,829
Net income (loss)	182.7			182.7
Stock-based compensation expense	2.9		2.9
Vesting of restricted and performance stock units and awards, net of employee tax withholdings	(2)		(2)
Vesting of restricted and performance stock units and awards, net of employee tax withholdings, shares		255,651
Other comprehensive loss, net of tax	(0.2)				(0.2)
Issuances of restricted stock awards, net of employee tax withholdings on vested awards	(2.9)		(2.9)
Issuances of restricted stock awards, net of employee tax withholdings on vested awards, Shares		14,233
Dividends declared on common stock	(182.4)			(182.4)
Balance at Jan. 31, 2024	496.1	$ 0.1	443	53
Balance, shares at Jan. 31, 2024		59,775,713
Balance at Oct. 31, 2023	498	$ 0.1	445	52.7	$ 0.2
Balance, shares at Oct. 31, 2023		59,505,829
Net income (loss)	197.9
Other comprehensive loss, net of tax	(0.2)
Balance at Apr. 30, 2024	379.7	$ 0.1	314.5	65.1
Balance, shares at Apr. 30, 2024		51,914,477
Balance at Jan. 31, 2024	496.1	$ 0.1	443	53
Balance, shares at Jan. 31, 2024		59,775,713
Net income (loss)	15.2			15.2
Stock-based compensation expense	3		3
Vesting of restricted and performance stock units and awards, net of employee tax withholdings	(1.8)		(1.8)
Vesting of restricted and performance stock units and awards, net of employee tax withholdings, shares		115,232
Issuances of restricted stock awards, Shares		23,532
Repurchase and retirement of common stock, including fees and excise taxes	(129.7)		(129.7)
Repurchase and retirement of common stock, including fees and excise taxes, Shares		(8,000,000)
Dividends declared on common stock	(3.1)			(3.1)
Balance at Apr. 30, 2024	$ 379.7	$ 0.1	$ 314.5	$ 65.1
Balance, shares at Apr. 30, 2024		51,914,477

Basis of Presentation

Basis of Presentation	6 Months Ended
	Apr. 30, 2024
Accounting Policies [Abstract]
Basis of Presentation	Note 1. Basis of Presentation The Condensed Unaudited Consolidated Financial Statements include the accounts of REV Group, Inc. (“REV” or “the Company”) and all its subsidiaries. In the opinion of management, the accompanying Condensed Unaudited Consolidated Financial Statements contain all adjustments (which include normal recurring adjustments, unless otherwise noted) necessary to present fairly the financial position, results of operations and cash flows for the periods presented. Certain information and footnote disclosures normally included in financial statements prepared in accordance with generally accepted accounting principles in the United States (U.S. GAAP) have been condensed or omitted pursuant to the rules and regulations of the U.S. Securities and Exchange Commission. These Condensed Unaudited Consolidated Financial Statements should be read in conjunction with the audited financial statements and notes thereto included in the Annual Report on Form 10-K of the Company for the fiscal year ended October 31, 2023. The interim results are not necessarily indicative of results for the full year. Equity Sponsor Exit : Prior to the second quarter of fiscal year 2024, the Company’s largest equity holder was comprised of (i) American Industrial Partners Capital Fund IV, LP, (ii) American Industrial Partners Capital Fund IV (Parallel), LP and (iii) AIP/CHC Holdings, LLC, which the Company collectively refers to as “AIP” or “Sponsor”. During the second quarter of fiscal year 2024, the Company completed two underwritten public offerings (the “Offerings”) in which a total of 25,795,191 shares of common stock previously held by AIP were sold. Refer to Note 15, Shareholders’ Equity, for additional information related to these offerings. Upon completion of the second of the two Offerings, AIP ceased to beneficially own at least 15 % of the Company’s outstanding shares of common stock, in the aggregate. As a result, under the terms of the Amended and Restated Shareholders Agreement, dated as of February 1, 2017 (as amended), AIP no longer has significant influence over the Company, including control over decisions that require the approval of stockholders, and no longer has the right to nominate any directors to the board of directors of the Company. Each of the board members previously nominated by AIP resigned from the Board of Directors of the Company, effective upon the completion of the second of the two Offerings. AIP is no longer considered a sponsor or related party of the Company. Related Party Transactions : During the three months ended April 30, 2024 and April 30, 2023, the Company did not incur expenses associated with its former Sponsor, other than in connection with the Offerings and related share repurchase. During the six months ended April 30, 2024 and April 30, 2023 , the Company reimbursed expenses of its former Sponsor of $ 0.2 million. These expenses are included in Selling, general and administrative expenses in the Company’s Condensed Unaudited Consolidated Statements of Income and Comprehensive Income. Refer to Note 15, Shareholders’ Equity, for additional information related to the share repurchase. Reclassifications: Certain reclassifications have been made to the prior period financial statements to conform with the fiscal year 2024 presentation and improve comparability between periods. These reclassifications had no effect on the reported results of operations. Recent Accounting Pronouncements Accounting Pronouncement - Adopted In September 2022, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2022-04 “Liabilities-Supplier Finance Programs (Subtopic 405-50): Disclosure of Supplier Finance Program Obligations”. The amendments in this ASU require that a company that uses a supplier finance program in connection with the purchase of goods or services disclose sufficient information about the program to allow a user of financial statements to understand the program’s nature, activity during the period, changes from period to period, and potential magnitude. ASU 2022-04 is effective for fiscal years beginning after December 15, 2022 . We adopted ASU 2022-04 in the first quarter of fiscal year 2024 and have indicated the impact of ASU 2022-04 to our consolidated financial statements. Refer to Note 3, Supply Chain Finance Program, for further details. Accounting Pronouncements - To Be Adopted In November 2023, the FASB issued ASU 2023-07 “Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures”. The amendments in this ASU require public entities to disclose information about their reportable segments’ significant expenses on an interim and annual basis. The ASU is effective for fiscal years beginning after December 15, 2023, and interim periods beginning after December 15, 2024, with early adoption permitted. We expect to adopt ASU 2023-07 in fiscal year 2025 and are currently evaluating the impact of ASU 2023-07 on our consolidated financial statements.

Revenue Recognition

Revenue Recognition	6 Months Ended
	Apr. 30, 2024
Revenue from Contract with Customer [Abstract]
Revenue Recognition	Note 2. Revenue Recognition Substantially all of the Company’s revenue is recognized from contracts with customers with product shipment destinations in the United States and Canada. The Company accounts for a contract when it has approval and commitment from both parties, the rights and payment terms of the parties are identified, the contract has commercial substance and collectability of consideration is probable. The Company determines the transaction price for each contract at inception based on the consideration that it expects to receive for the goods and services promised under the contract. The transaction price excludes sales and usage-based taxes collected and certain “pass-through” amounts collected on behalf of third parties. The Company has elected to expense incremental costs to obtain a contract when the amortization period of the related asset is expected to be less than one year. The Company’s primary source of revenue is generated from the manufacture and sale of specialty and recreational vehicles through its direct sales force and dealer network. The Company also generates revenue through separate contracts that relate to the sale of aftermarket parts and services. Revenue is typically recognized at a point-in-time, when control is transferred, which generally occurs when the product has been shipped to the customer or when it has been picked-up from the Company’s manufacturing facilities. Shipping and handling costs that occur after the transfer of control are fulfillment costs that are recorded in Cost of sales in the Condensed Unaudited Consolidated Statements of Income and Comprehensive Income when incurred or when the related product revenue is recognized, whichever is earlier. Periodically, certain customers may request bill and hold transactions according to the terms in the contract. In such cases, revenue is not recognized until after control has transferred which is generally when the customer has requested such transaction and has been notified that the product (i) has been completed according to customer specifications, (ii) has passed our quality control inspections, (iii) has been separated from our inventory and is ready for physical transfer to the customer, and (iv) the Company cannot use the product or redirect the product to another customer. Warranty obligations associated with the sale of a unit are assurance-type warranties that are a guarantee of the unit’s intended functionality and, therefore, do not represent a distinct performance obligation within the context of the contract. Contract Assets and Contract Liabilities The Company is generally entitled to bill its customers upon satisfaction of its performance obligations, and payment is usually received shortly after billing. Payments for certain contracts are received in advance of satisfying the related performance obligations. Such payments are recorded as Customer advances in the Company’s Condensed Unaudited Consolidated Balance Sheets. The Company reduces the customer advance balances when the Company transfers control of the promised good or service. During the three months ended April 30, 2024, and April 30, 2023 , the Company recognized $ 44.2 million and $ 44.6 million, respectively, of revenue that was included in the customer advance balances of $ 357.4 million and $ 332.8 million as of October 31, 2023 and October 31, 2022, respectively. During the six months ended April 30, 2024 and April 30, 2023 , the Company recognized $ 93.0 m illion and $ 82.2 million, respectively, of revenue that was included in the customer advance balances of $ 357.4 million and $ 332.8 million as of October 31, 2023 and October 31, 2022, respectively. The Company’s payment terms do not include a significant financing component outside of the Specialty Vehicles segment. Within the Specialty Vehicles segment, customers earn interest on customer advances at a rate determined at contract inception. The Company incurred interest charges on customer advances during the three months ended April 30, 2024 and April 30, 2023 of $ 2.2 million and $ 2.2 million, respectively. The Company incurred interest charges on customer advances during the six months ended April 30, 2024, and April 30, 2023 of $ 4.5 million and $ 4.1 million, respectively. The interest charges were recorded in Interest expense in the Condensed Unaudited Consolidated Statements of Income and Comprehensive Income. The Company does not have significant contract assets. Remaining Performance Obligations As of April 30, 2024, the Company had unsatisfied performance obligations for non-cancelable contracts with an original duration greater than one year totalin g $ 3,063.9 million, of which $ 1,231.8 million is expected to be satisfied and recognized in revenue in the next twelve months and $ 1,832.1 million i s expected to be satisfied and recognized in revenue thereafter .

Supply Chain Finance Program

Supply Chain Finance Program	6 Months Ended
	Apr. 30, 2024
Disclosure Text Block Supplement [Abstract]
Supply Chain Finance Program	Note 3. Supply Chain Finance Program The Company has an unsecured agreement with a third-party financial institution to facilitate a supply chain finance (“SCF”) program. The SCF prog ram allows qualifying suppliers to sell their receivables due from the Company, on an invoice level at the selection of the supplier, to the financial institution and negotiate their outstanding receivable arrangements and associated fees directly with the financial institution. The Company is not party to the agreements between the supplier and the financial institution. The supplier invoices that have been confirmed as valid under the program require payment in full by the Company within 120 days of the invoice date. All outstanding amounts related to suppliers participating in the SCF program are confirmed with the third-party financial institution and are recorded in Accounts payable in the Condensed Unaudited Consolidated Balance Sheets. The Company’s outstanding obligation under the SCF program as of April 30, 2024 and October 31, 2023 was $ 12.9 million and $ 13.1 million, respectively.

Inventories

Inventories	6 Months Ended
	Apr. 30, 2024
Inventory Disclosure [Abstract]
Inventories	Note 4. Inventories Inventories consisted of the following: April 30, October 31, Chassis $ 109.1 $ 122.2 Raw materials & parts 205.6 224.3 Work in process 256.0 274.1 Finished products 67.9 46.8 638.6 667.4 Less: reserves ( 8.2 ) ( 9.7 ) Total inventories, net $ 630.4 $ 657.7

Property, Plant and Equipment

Property, Plant and Equipment	6 Months Ended
	Apr. 30, 2024
Property, Plant and Equipment [Abstract]
Property, Plant and Equipment	Note 5. Property, Plant and Equipment Property, plant and equipment consisted of the following: April 30, October 31, Land & land improvements $ 20.7 $ 19.2 Buildings & improvements 109.7 111.7 Machinery & equipment 104.6 107.2 Computer hardware & software 67.8 65.0 Office furniture & fixtures 6.1 5.5 Construction in process 5.8 16.4 314.7 325.0 Less: accumulated depreciation ( 164.6 ) ( 165.5 ) Total property, plant and equipment, net $ 150.1 $ 159.5 Depreciation expense was $ 5.9 million and $ 5.5 million for the three months ended April 30, 2024 and April 30, 2023, respectively, and $ 11.8 m illion and $ 11.0 million for the six months ended April 30, 2024 and April 30, 2023, respectively. In connection with the discontinuation of manufacturing operations at the Company's ElDorado National (California) (“ENC”) facility, the Company recorded impairment charges of property, plant, and equipment of $ 4.4 million for the six months ended April 30, 2024, which were based on Level 3 inputs as defined by Accounting Standards Codification (“ASC”) 820, Fair Value Measurements . Refer to Note 8, Restructuring and Other Related Charges, for further details.

Goodwill and Intangible Assets

Goodwill and Intangible Assets	6 Months Ended
	Apr. 30, 2024
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Intangible Assets	Note 6. Goodwill and Intangible Assets The table below represents goodwill by segment: April 30, October 31, Specialty Vehicles $ 95.2 $ 114.8 Recreational Vehicles 42.5 42.5 Total goodwill $ 137.7 $ 157.3 The change in the net carrying value of goodwill consisted of the following: Six Months Ended 2024 2023 Balance at beginning of period $ 157.3 $ 157.3 Divestitures (Note 7) ( 19.6 ) — Balance at end of period $ 137.7 $ 157.3 Intangible assets (excluding goodwill) consisted of the following: April 30, 2024 Weighted- Gross Accumulated Net Finite-lived Customer Relationships 8 $ 42.9 $ ( 35.9 ) $ 7.0 Indefinite-lived trade names 91.3 — 91.3 Total intangible assets, net $ 134.2 $ ( 35.9 ) $ 98.3 October 31, 2023 Weighted- Gross Accumulated Net Finite-lived Customer Relationships 8 $ 43.7 $ ( 35.4 ) $ 8.3 Indefinite-lived trade names 107.4 — 107.4 Total intangible assets, net $ 151.1 $ ( 35.4 ) $ 115.7 The change in the net carrying value of indefinite-lived trade names consisted of the following: Six Months Ended 2024 2023 Balance at beginning of period $ 107.4 $ 107.4 Impairment (Note 8) ( 7.2 ) — Divestiture (Note 7) ( 8.9 ) — Balance at end of period $ 91.3 $ 107.4 Amortization expense was $ 0.6 million and $ 1.0 million for the three months ended April 30, 2024 and April 30, 2023, respectively, and $ 1.2 million and $ 2.4 million for the six months ended April 30, 2024 and April 30, 2023 , respectively. Estimated future amortization expense of finite-lived intangible assets for the remainder of fiscal year 2024 and each of the five fiscal years succeeding October 31, 2024 is as follows: 2024 (remaining six months) - $ 1.1 million; 2025 - $ 1.7 million; 2026 - $ 1.2 million; 2027 - $ 1.2 million; 2028 - $ 1.2 million; 2029 - $ 0.6 million, at which point all finite-lived intangible assets will be fully amortized. In connection with the discontinuation of manufacturing operations at the Company's ENC facility , the Company recorded an impairment charge of an indefinite-lived trade name of $ 7.2 million for the six months ended April 30, 2024, which was based on Level 3 inputs, as defined by ASC 820, Fair Value Measurements .

Divestiture Activities

Divestiture Activities	6 Months Ended
	Apr. 30, 2024
Discontinued Operations and Disposal Groups [Abstract]
Divestiture Activities	Note 7. Divestiture Activities On January 26, 2024, the Company entered into a Stock Purchase Agreement (the “Stock Purchase Agreement”) by and among the Company, Collins Industries, Inc., (“Collins Industries”) an indirect wholly-owned subsidiary of the Company, Collins Bus Corporation, a wholly-owned subsidiary of Collins Industries (“Collins”), Forest River, Inc. and Forest River Bus, LLC (the “Buyer”), pursuant to which Collins Industries agreed to sell all of the issued and outstanding shares of capital stock of Collins to the Buyer. The sale is aimed at optimizing the Company's portfolio of products and to create a more focused operating structure aligned with markets where the Company has a strong presence of industry leading brands. The transactions under the Stock Purchase Agreement closed on January 26, 2024. In connection with the completion of the sale of Collins, the Company received cash consideration of $ 308.2 million, inclusive of certain preliminary working capital adjustments, and recorded a gain on sale of $ 257.5 million, which is included in the Company’s Condensed Unaudited Consolidated Statement of Income and Comprehensive Income for the six months ended April 30, 2024. The Company incurred $ 5.0 million of transaction costs in connection with this sale, which are included in the Selling, general and administrative expense in the Company’s Condensed Unaudited Consolidated Statement of Income and Comprehensive Income for the six months ended April 30, 2024. Collins was previously reported as part of the Specialty Vehicles segment. On April 30, 2024, in connection with a strategic review of the product portfolio, the Company entered into an agreement to sell certain assets of the Fire Regional Technical Center (“Fire RTC”) business. In connection with the sale, the Company recorded a gain of $ 1.5 million, which is included in the Company’s Condensed Unaudited Consolidated Statement of Income and Comprehensive Income for the three and six months ended April 30, 2024. The remaining assets and liabilities of the Fire RTC business are included within the Specialty Vehicles segment.

Restructuring and Other Related

Restructuring and Other Related Charges	6 Months Ended
	Apr. 30, 2024
Restructuring and Related Activities [Abstract]
Restructuring and Other Related Charges	Note 8. Restructuring and Other Related Charges On January 29, 2024, the Company announced that it would discontinue manufacturing operations at the Company’s ENC facility in Riverside, California. Management believes the discontinuation of manufacturing at ENC will create a more focused portfolio that provides opportunities for growth, consistent cash generation and improved margin performance. ENC is included within the Specialty Vehicles segment. The Company has and will incur certain restructuring and other related charges in connection with the decision to discontinue manufacturing at the ENC facility. For the three and six months ended April 30, 2024, the Company recorded restructuring charges of $ 3.7 million and $ 4.5 million, respectively, primarily related to severance and retention costs. The Company expects to incur additional restructuring charges of between $ 3.0 to $ 4.0 million associated with employee severance and other termination benefits. For the six months ended April 30, 2024 the Company incurred additional charges related to this activity consisting of $ 11.6 million of impairment charges related to intangible assets and property, plant, and equipment, $ 5.8 million of inventory write-offs, and $ 0.3 million of other costs. The Company currently expects to incur additional restructuring and related charges associated with contract terminations, inventory liquidation, and other costs; however, such costs are not known at this time. The Company currently expects the charges resulting from this restructuring will be incurred during fiscal year 2024. Changes in the Company’s restructuring reserves related to the discontinuation of manufacturing at ENC during fiscal year 2024 were as follows: Six Months Ended Balance at beginning of the period $ — Restructuring provision 4.5 Utilized - cash ( 0.9 ) Balance at end of the period $ 3.6

Long-Term Debt

Long-Term Debt	6 Months Ended
	Apr. 30, 2024
Debt Disclosure [Abstract]
Long-Term Debt	Note 9. Long-Term Debt The Company was obligated under the following debt instrument: April 30, October 31, ABL facility $ 220.0 $ 150.0 ABL Facility On April 13, 2021, the Company entered into a $ 550.0 million revolving credit agreement (the “2021 ABL Facility” or “2021 ABL Agreement”) with a syndicate of lenders. The 2021 ABL Facility provides for revolving loans and letters of credit in an aggregate amount of up to $ 550.0 million. The total credit facility is subject to a $ 30.0 million sublimit for swing line loans and a $ 35.0 million sublimit for letters of credit (plus up to an additional $ 20.0 million of letters of credit at issuing bank’s discretion), along with certain borrowing base and other customary restrictions as defined in the 2021 ABL Agreement. The 2021 ABL Agreement allows for incremental facilities in an aggregate amount of up to $ 100.0 million, plus the excess, if any, of the borrowing base then in effect over total commitments then in effect. Any such incremental facilities are subject to receiving additional commitments from lenders and certain other customary conditions. The debt issuance costs capitalized in connection with the 2021 ABL Facility less accumulated amortization are included in Other long-term assets in the Company’s Condensed Unaudited Consolidated Balance Sheets. The debt issuance costs are amortized over the life of the debt on a straight-line basis. The 2021 ABL Facility matures on April 13, 2026 . The Company may prepay principal, in whole or in part, at any time without penalty. The following table summarizes the gross borrowing and gross payments under the Company's 2021 ABL Facility: Six Months Ended 2024 2023 Gross borrowings $ 610.0 $ 297.0 Gross payments 540.0 297.0 Total net borrowings $ 70.0 $ — On November 1, 2022, the Company amended the 2021 ABL Facility to transition from the Eurodollar based benchmark rates to the Secured Overnight Financing Rate ("SOFR"). The transition from the Eurodollar rate to SOFR did not have a material impact on the Company's results of operations. On February 7, 2024, the Company entered into Amendment No. 2 (the “ABL Facility Amendment”) to the 2021 ABL Facility. The ABL Facility Amendment revised the definition of Fixed Charges under the 2021 ABL Facility to exclude the special cash dividend, which was declared in the first quarter of fiscal year 2024 and paid in the second quarter of fiscal year 2024, from the definition of Fixed Charges. All revolving loans under the 2021 ABL Facility, as amended, bear interest at rates equal to, at the Company’s option, either a base rate plus an applicable margin, or a SOFR rate plus an applicable margin and credit spread adjustment of 0.10 % for all interest periods. As of April 30, 2024 , the interest rate margins are 0.50 % for all base rate loans and 1.50 % for all SOFR rate loans (with the SOFR rate having a floor of 0.0 %), subject to adjustment based on the Company’s fixed charge coverage ratio in accordance with the 2021 ABL Agreement. Interest is payable quarterly for all base rate loans and is payable on the last day of any interest period or every three months for all SOFR rate lo ans. The weighted-average interest rate on borrowings outstanding under the 2021 ABL Facility was 6.92 % as of April 30, 2024 . The weighted-average interest rate on borrowings outstanding under the 2021 ABL Facility was 6.93 % as of October 31, 2023. The lenders under the 2021 ABL Facility have a first priority security interest in substantially all personal property assets and certain real property assets of the Company. The 2021 ABL Facility’s borrowing base is comprised of eligible receivables and eligible inventory, plus a fixed asset sublimit of certain eligible real property and eligible equipment, which fixed asset sublimit reduces by quarterly amortization as specified in the 2021 ABL Agreement. The 2021 ABL Agreement contains customary representations and warranties, affirmative and negative covenants, subject in certain cases to customary limitations, exceptions and exclusions. The 2021 ABL Agreement also contains certain customary events of default. The occurrence of an event of default under the 2021 ABL Agreement could result in the termination of the commitments under the ABL Facility and the acceleration of all outstanding borrowings under it. The 2021 ABL Agreement requires the Company to maintain a minimum fixed charge coverage ratio of 1.10 to 1.00 during certain compliance periods as specified in the 2021 ABL Agreement. The Company was in compliance with all financial covenants under the 2021 ABL Agreement as of April 30, 2024. As of April 30, 2024, the Company’s availability under the 2021 ABL Fa cility was $ 280.3 m illion. As of October 31, 2023 , the Company’s availability under the 2021 ABL Facility was $ 384.1 million. The fair value of the 2021 ABL Facility approximated the book value on April 30, 2024 and October 31, 2023 .

Warranties

Warranties	6 Months Ended
	Apr. 30, 2024
Guarantees [Abstract]
Warranties	Note 10. Warranties The Company’s products generally carry explicit warranties that extend from several months to several years, based on terms that are generally accepted in the marketplace. Selected components (such as engines, transmissions, tires, etc.) included in the Company’s end products may include warranties from original equipment manufacturers (“OEM”). These OEM warranties are passed on to the end customer of the Company’s products, and the customer deals directly with the applicable OEM for any issues encountered on those components. Changes in the Company’s warranty liability consisted of the following: Six Months Ended 2024 2023 Balance at beginning of period $ 39.1 $ 31.9 Warranty provisions 19.1 16.6 Settlements made ( 20.0 ) ( 15.9 ) Change in liability of pre-existing warranties ( 1.1 ) — Divestiture (Note 7) ( 1.1 ) — Balance at end of period $ 36.0 $ 32.6 Accrued warranty is classified in the Company’s condensed unaudited consolidated balance sheets as follows: April 30, October 31, Current liabilities $ 15.8 $ 23.4 Other long-term liabilities 20.2 15.7 Total warranty liability $ 36.0 $ 39.1

Earnings Per Share

Earnings Per Share	6 Months Ended
	Apr. 30, 2024
Earnings Per Share [Abstract]
Earnings Per Share	Note 11. Earnings Per Share Basic earnings per common share (“EPS”) is computed by dividing net income or loss by the weighted average number of common shares outstanding, which excludes shares of issued but unvested restricted stock awards. Diluted EPS is computed by dividing net income, if applicable, by the weighted-average number of common shares outstanding assuming dilution. The difference between basic EPS and diluted EPS is the result of the dilutive effect of unvested performance stock units, restricted stock units, and restricted stock awards. The reconciliation of basic weighted-average shares outstanding to diluted weighted-average shares outstanding was as follows: Three Months Ended Six Months Ended 2024 2023 2024 2023 Basic weighted-average common shares outstanding 53,117,059 58,698,700 56,116,502 58,516,877 Dilutive stock options — 1,898 — 2,146 Dilutive restricted stock awards 150,665 250,151 223,072 310,553 Dilutive restricted stock units 280,471 73,092 318,948 155,634 Dilutive performance stock units 114,015 — 102,175 — Diluted weighted-average common shares outstanding 53,662,210 59,023,841 56,760,697 58,985,210 The table below represents shares excluded from the calculation of diluted weighted-average shares outstanding because they would have been anti-dilutive: Three Months Ended Six Months Ended 2024 2023 2024 2023 Anti-dilutive shares 23,532 870,281 23,532 264,512

Income Taxes

Income Taxes	6 Months Ended
	Apr. 30, 2024
Income Tax Disclosure [Abstract]
Income Taxes	Note 12. Income Taxes For interim financial reporting, the Company estimates its annual effective tax rate based on the projected income for its entire fiscal year and records a provision or benefit for income taxes on a quarterly basis based on the estimated annual effective income tax rate, adjusted for any discrete tax items. The Company recorded income tax expense of $ 2.7 million for the three months ended April 30, 2024, or 15.1 % of pre-tax income, compared to $ 5.8 million of expense, or 29.0 % of pre-tax income, for the three months ended April 30, 2023. Income tax expense for the three months ended April 30, 2024 was favorably impacted by $ 1.2 million of net discrete tax benefit, primarily related to the conclusion of an IRS examination. Income tax expense for the three months ended April 30, 2023 was unfavorably impacted by $ 0.6 million of net discrete tax expense related to the results of an IRS examination. The Company recorded income tax expense of $ 64.1 million for the six months ended April 30, 2024, or 24.5 % of pre-tax income, compared to $ 0.7 million of expense, or 50.0 % of pretax income, for the six months ended April 30, 2023. Income tax expense for the six months ended April 30, 2024 was unfavorably impacted by $ 62.2 million of net discrete tax expense, primarily related to the gain on sale of Collins. Income tax expense for the six months ended April 30, 2023 was unfavorably impacted by $ 0.6 million of net discrete tax expense related to the results of an IRS examination. The Company periodically evaluates its valuation allowance requirements as facts and circumstances change and may adjust its deferred tax asset valuation allowances accordingly. It is reasonably possible that the Company will either add to or reverse a portion of its existing deferred tax asset valuation allowances in the future. Such changes in the deferred tax asset valuation allowances will be reflected in the current operations through the Company’s effective income tax rate. The Company’s liability for unrecognized tax benefits, including interest and penalties, was $ 3.0 million as of April 30, 2024 and $ 5.6 million as of October 31, 2023. The unrecognized tax benefits are presented in Other long-term liabilities in the Company’s Condensed Unaudited Consolidated Balance Sheets as of April 30, 2024. The Company recognizes accrued interest and penalties related to unrecognized tax benefits in the Provision for income taxes in its Condensed Unaudited Consolidated Statement of Income and Comprehensive Income. The Company regularly assesses the likelihood of an adverse outcome resulting from examinations to determine the adequacy of its tax reserves. As of April 30, 2024, the Company believes that it is more likely than not that the tax positions it has taken will be sustained upon the resolution of its audits resulting in no material impact on its consolidated financial position and the results of operations and cash flows. However, the final determination with respect to any tax audits, and any related litigation, could be materially different from the Company’s estimates and/or from its historical income tax provisions and income tax liabilities and could have a material effect on operating results and/or cash flows in the periods for which that determination is made. In addition, future period earnings may be adversely impacted by litigation costs, settlements, penalties, and/or interest assessments related to income tax examinations.

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
	Apr. 30, 2024
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Note 13. Commitments and Contingencies The Company is, from time to time, party to various legal proceedings, including product and general liability claims, arising out of the ordinary course of business. Assessments of legal proceedings can involve complex judgments about future events that may rely on estimates and assumptions. When assessing whether to record a liability related to legal proceedings, the Company adheres to the requirements of ASC 450, Contingencies , and other applicable guidance as necessary, and records liabilities in those instances where it can reasonably estimate the amount of the loss and when the loss is probable. When a range exists that is reasonably estimable and the loss is probable, the Company records an accrual in its financial statements equal to the most likely estimate of the loss, or the low end of the range, if there is no one best estimate. Additionally, these claims are generally covered by third-party insurance, which for some insurance policies are subject to a retention for which the Company is responsible. Market Risks : The Company is contingently liable under bid, performance and specialty bonds issued by the Company’s surety company and has open standby letters of credit issued by the Company’s banks in favor of third parties as follows: April 30, October 31, Performance, bid and specialty bonds $ 620.8 $ 603.2 Open standby letters of credit 14.2 15.9 Total $ 635.0 $ 619.1 Chassis Contingent Liabilities : The Company obtains certain vehicle chassis from automobile manufacturers under converter pool agreements. These agreements generally provide that the manufacturer will supply chassis at the Company’s various production facilities under the terms and conditions set forth in the agreement. The manufacturer does not transfer the certificate of origin to the Company upon delivery. Accordingly, the chassis are not owned by the Company when delivered, and therefore, are excluded from the Company’s inventory. Upon being put into production, the Company owns the inventory and becomes obligated to pay the manufacturer for the chassis. Chassis are typically placed into production within 90 to 120 days of delivery to the Company. If the chassis are not placed into production within this timeframe, the Company generally purchases the chassis and records inventory, or the Company is obligated to begin paying an interest charge on this inventory until purchased. Such agreements are customary in the industries in which the Company operates and the Company’s exposure to loss under such agreements is limited by the value of the vehicle chassis that would be resold to mitigate any losses. The Company’s contingent liability under such agreements w as $ 18.9 million and $ 8.8 million as of April 30, 2024 and October 31, 2023, respectively. From time to time, the Company’s customers may provide their own vehicle chassis, at their sole discretion, in connection with specific vehicle orders. These vehicle chassis are stored at the Company’s various production facilities until the related value-added work is completed and the finished unit is shipped back to the customer. The customer does not transfer the vehicle chassis certificate of origin to the Company. Accordingly, such chassis are not owned by the Company when delivered or throughout the production process, and are, therefore, excluded from the Company’s inventory. The Company’s maximum contingent liability related to these vehicle chassis was $ 25.5 million and $ 25.9 million as of April 30, 2024 and October 31, 2023, respectively. Losses incurred related to these arrangements have not been significant. Repurchase Commitments : The Company has repurchase agreements with certain lending institutions. The repurchase commitments are on an individual unit basis with a term from the date it is financed by the lending institution through payment date by the dealer or other customer, generally not exceeding two years . The Company also repurchases inventory from dealers from time to time due to state law or regulatory requirements that require manufacturers to repurchase inventory if a dealership exits the business. The Company’s maximum contingent liability under such agreements was $ 415.5 millio n and $ 490.1 million as of April 30, 2024, and October 31, 2023, respectively, which represents the gross value of all vehicles under repurchase agreements. Such agreements are customary in the industries in which the Company operates and the Company’s exposure to loss under such agreements is limited by the resale value of the units which are required to be repurchased. Losses incurred under such arrangements have not been significant. The reserve for losses included in other liabilities on contracts outstanding as of April 30, 2024 and October 31, 2023 are immaterial. Guarantee Arrangements : The Company is party to multiple agreements whereby it guaranteed an aggrega te of $ 24.7 million and $ 27.2 million at April 30, 2024 and October 31, 2023 , respectively, of indebtedness of others, including losses under loss pool agreements. The Company estimated that its maximum loss exposure under these contracts was $ 4.2 million and $ 5.4 million as of April 30, 2024 and October 31, 2023, respectively. Under the terms of these and various related agreements and upon the occurrence of certain events, the Company generally has the ability to, among other things, take possession of the underlying collateral. The guarantee arrangements are on an individual contract basis with a term from the date it is financed by the lending institution through payment date by the customer, generally not exceeding five years . Wh ile the Company does not expect to experience losses under these agreements that are materially in excess of the amounts reserved, it cannot provide any assurance that the financial condition of the third parties will not deteriorate resulting in the third party’s inability to meet their obligations. Additionally, the Company cannot guarantee that the collateral underlying the agreements will be available or sufficient to avoid losses materially in excess of the amount reserved. The reserve for losses included in other liabilities on these guarantee arrangements as of April 30, 2024 and October 31, 2023 are immaterial. Other Matters : Krystal Bus: In January 2023, the Company agreed, in principle, to settle a claim brought by a plaintiff who was injured as a passenger in an accident involving a shuttle bus that was manufactured by Krystal Bus prior to the Company’s acquisition of certain assets related to that business. The Company did not admit to any liability on the merits of the claim, but deemed a settlement to be in its best interest based on the facts and circumstances of the claim, as they developed in the first quarter of fiscal year 2023. As a result, the Company recorded a loss of $ 11.5 million in the first quarter of fiscal year 2023. The Company was also involved in additional lawsuits filed by plaintiffs who were passengers on the shuttle bus that was in the same accident. During the six months ended April 30, 2023 the Company recorded an additional loss of $ 2.0 million, based on a range of possible outcomes and the nature of their injuries. The losses associated with these claims are included within Selling, general and administrative expenses in the Company’s Condensed Unaudited Consolidated Statements of Income and Comprehensive Income for the six months ended April 30, 2023. Payments related to these settlements were subsequently made and there is no remaining liability associated with these cases. The Company is in the process of seeking reimbursement of the settlement payments; however, no loss recovery asset has been recorded as of April 30, 2024.

Business Segment Information

Business Segment Information	6 Months Ended
	Apr. 30, 2024
Segment Reporting [Abstract]
Business Segment Information	Note 14. Business Segment Information During the first fiscal quarter of 2024, the Company formed the Specialty Vehicles Segment by combining the Fire & Emergency and Commercial segment businesses. Additionally, the Recreation segment was renamed Recreational Vehicles. As a result, t he Company is now organized into two reportable segments, which is aligned with the chief operating decision maker's internal reporting structure and with the chief operating decision maker's process for making operating decisions, allocating capital and measuring performance. All segment information has been recast to conform to the new reportable segments. The Company’s segments are as follows: Specialty Vehicles : This segment includes Emergency One (“E-ONE”), Kovatch Mobile Equipment (“KME”), Ferrara, Spartan Emergency Response (“Spartan ER”), American Emergency Vehicles (“AEV”), Leader Emergency Vehicles (“Leader”), Horton Emergency Vehicles (“Horton”), REV Group Orlando, ENC, Capacity and LayMor. These businesses manufacture, market and distribute commercial and custom fire and emergency vehicles primarily for fire departments, airports, other governmental units, contractors, hospitals and other care providers in the United States and other countries, municipal transit buses primarily used for public transportation, trucks used in terminal type operations, i.e., rail yards, warehouses, rail terminals and shipping terminals/ports, and industrial sweepers for both the commercial and rental markets. Recreational Vehicles : This segment includes REV Recreation Group, Renegade, Midwest, Lance and Goldshield Fiberglass, Inc., and their respective manufacturing facilities, service and parts divisions. REV Recreation Group primarily manufactures, markets and distributes Class A RVs in both gas and diesel models, and also distributes Class B and Class C RVs. Renegade primarily manufactures, markets and distributes Class C and “Super C” RVs. Midwest manufactures, markets and distributes Class B RVs and luxury vans. Lance manufactures, markets and distributes truck campers and towable campers. Goldshield manufactures, markets and distributes fiberglass reinforced molded parts to a diverse cross section of original equipment manufacturers and other commercial and industrial customers, including various components for REV Recreation Group’s Fleetwood family of brands. For purposes of measuring financial performance of its business segments, the Company does not allocate to individual business segments costs or items that are of a corporate nature. The caption “Corporate, Other & Elims” includes corporate expenses, results of insignificant operations, intersegment eliminations and income and expense not allocated to reportable segments. Total assets of the business segments exclude general corporate assets, which principally consist of cash and cash equivalents, certain property, plant and equipment and certain other assets pertaining to corporate and other centralized activities. Intersegment sales generally include amounts invoiced by a segment for work performed for another segment. Amounts are based on actual work performed and agreed-upon pricing which is intended to be reflective of the contribution made by the supplying business segment. All intersegment transactions have been eliminated in consolidation. Selected financial information of the Company’s segments is as follows: Three Months Ended April 30, 2024 Specialty Vehicles Recreational Corporate, Consolidated Net sales $ 437.4 $ 179.7 $ ( 0.2 ) $ 616.9 Depreciation and amortization $ 4.4 $ 1.6 $ 0.5 $ 6.5 Capital expenditures $ 3.8 $ 0.9 $ 1.2 $ 5.9 Total assets $ 873.6 $ 392.1 $ 64.7 $ 1,330.4 Adjusted EBITDA $ 33.8 $ 12.1 $ ( 8.4 ) Three Months Ended April 30, 2023 Specialty Vehicles Recreational Corporate, Consolidated Net sales $ 425.0 $ 256.6 $ ( 0.4 ) $ 681.2 Depreciation and amortization $ 3.9 $ 2.0 $ 0.6 $ 6.5 Capital expenditures $ 3.6 $ 2.3 $ 0.9 $ 6.8 Total assets $ 986.1 $ 366.6 $ 39.8 $ 1,392.5 Adjusted EBITDA $ 20.3 $ 29.1 $ ( 7.5 ) Six Months Ended April 30, 2024 Specialty Vehicles Recreational Vehicles Corporate, Consolidated Net sales $ 854.6 $ 349.1 $ ( 0.8 ) $ 1,202.9 Depreciation and amortization $ 8.7 $ 3.2 $ 1.1 $ 13.0 Capital expenditures $ 7.7 $ 6.5 $ 2.2 $ 16.4 Total assets $ 873.6 $ 392.1 $ 64.7 $ 1,330.4 Adjusted EBITDA $ 60.0 $ 23.7 $ ( 15.7 ) Six Months Ended April 30, 2023 Specialty Vehicles Recreational Vehicles Corporate, Consolidated Net sales $ 783.0 $ 482.6 $ ( 0.9 ) $ 1,264.7 Depreciation and amortization $ 7.7 $ 4.6 $ 1.1 $ 13.4 Capital expenditures $ 6.6 $ 3.1 $ 0.9 $ 10.6 Total assets $ 986.1 $ 366.6 $ 39.8 $ 1,392.5 Adjusted EBITDA $ 25.6 $ 53.4 $ ( 15.8 ) In considering the financial performance of the business, the chief operating decision maker analyzes the primary financial performance measure of Adjusted EBITDA. Adjusted EBITDA is defined as net income or loss for the relevant period before depreciation and amortization, interest expense, and income taxes, as adjusted for items management believes are not indicative of the Company’s ongoing operating performance. Adjusted EBITDA is not a measure defined by U.S. GAAP but is computed using amounts that are determined in accordance with U.S. GAAP. A reconciliation of this performance measure to net income is included below. The Company believes Adjusted EBITDA is useful to investors and used by management for measuring profitability because the measure excludes the impact of certain items which management believes have less bearing on the Company’s core operating performance, and allows for a more meaningful comparison of operating fundamentals between companies within its industries by eliminating the impact of capital structure and taxation differences between the companies. Additionally, Adjusted EBITDA is used by management to measure and report the Company’s financial performance to the Company’s Board of Directors, assists in providing a meaningful analysis of the Company’s operating performance and is used as a measurement in incentive compensation for management. Provided below is a reconciliation of segment Adjusted EBITDA to Net income: Three Months Ended Six Months Ended 2024 2023 2024 2023 Specialty Vehicles Adjusted EBITDA $ 33.8 $ 20.3 $ 60.0 $ 25.6 Recreational Vehicles Adjusted EBITDA 12.1 29.1 23.7 53.4 Corporate and Other Adjusted EBITDA ( 8.4 ) ( 7.5 ) ( 15.7 ) ( 15.8 ) Depreciation and amortization ( 6.5 ) ( 6.5 ) ( 13.0 ) ( 13.4 ) Interest expense, net ( 6.5 ) ( 7.4 ) ( 13.4 ) ( 14.5 ) Provision for income taxes ( 2.7 ) ( 5.8 ) ( 64.1 ) ( 0.7 ) Transaction expenses ( 1.4 ) ( 0.2 ) ( 6.4 ) ( 0.4 ) Sponsor expense reimbursement — — ( 0.2 ) ( 0.2 ) Restructuring ( 3.7 ) — ( 4.5 ) — Restructuring related charges — ( 3.2 ) ( 6.1 ) ( 8.8 ) Impairment charges — — ( 12.6 ) — Stock-based compensation expense ( 3.0 ) ( 1.6 ) ( 5.9 ) ( 7.5 ) Legal matters — ( 1.6 ) ( 2.9 ) ( 15.4 ) Gain (Loss) on sale of business 1.5 ( 1.1 ) 259.0 ( 1.1 ) Other items — ( 0.3 ) — ( 0.5 ) Net income $ 15.2 $ 14.2 $ 197.9 $ 0.7

Shareholders' Equity

Shareholders' Equity	6 Months Ended
	Apr. 30, 2024
Equity [Abstract]
Shareholders' Equity	Note 15. Shareholders' Equity On June 1, 2023, the Company’s Board of Directors approved a new share repurchase program that allowed the repurchase of up to $ 175.0 million of the Company’s outstanding common stock (“The 2023 Repurchase Program”). The 2023 Repurchase Program replaced the previous repurchase program. The 2023 Repurchase Program expires 24 months after the approval date and gives management flexibility to determine conditions under which the shares may be purchased, subject to certain limitations. During the three and six months ended April 30, 2024 the Company repurchased and retired 8,000,000 shares under this repurchase program at a total cost of $ 126.1 million and at a price of approximately $ 15.76 per share, as described further below. The Company incurred approximately $ 3.6 million in additional fees and excise taxes associated with the repurchase which has been included within the total cost of the share repurchase and recorded directly within equity. During the three and six months ended April 30, 2023, the Company did no t repurchase any shares. On February 16, 2024 the Company paid the previously declared special cash dividend equal to $ 3.00 per share of common stock to shareholders of record on February 9, 2024 . Additionally, o n April 12, 2024, the Company paid a quarterly cash dividend in the amount of $ 0.05 per share of common stock to shareholders of record on March 28, 2024 . On February 20, 2024, the Company closed the first of the Offerings, which included the sale of 18,400,000 shares of its common stock by AIP. 10,400,000 of these shares were sold to the public at the public offering price of $ 16.50 per share. As previously noted, the Company repurchased from the underwriters 8,000,000 of the shares at a price per common share of approximately $ 15.76 , which is equal to the price paid by the underwriters to AIP. On March 15, 2024, the Company closed the second of the Offerings, which included the sale of 7,395,191 shares of the Company’s common stock by AIP, at a public offering price of $ 18.00 per share. The Company did not sell any shares of common stock and did not receive any proceeds from the Offerings. The Company incurred approximately $ 1.4 million in offering costs during the three months ended April 30, 2024, which were included within Selling, general and administrative expenses in the Company’s Condensed Unaudited Consolidated Statements of Income and Comprehensive Income.

Subsequent Events

Subsequent Events	6 Months Ended
	Apr. 30, 2024
Subsequent Events [Abstract]
Subsequent Events	Note 16. Subsequent Events On May 30, 2024 , the Company’s Board of Directors declared a quarterly cash dividend in the amount of $ 0.05 per share of common stock, which equates to a rate of $ 0.20 per share of common stock on an annualized basis, payable on July 12, 2024 to shareholders of record on June 28, 2024 .

Basis of Presentation (Policies

Basis of Presentation (Policies)	6 Months Ended
	Apr. 30, 2024
Accounting Policies [Abstract]
Reclassifications	Reclassifications: Certain reclassifications have been made to the prior period financial statements to conform with the fiscal year 2024 presentation and improve comparability between periods. These reclassifications had no effect on the reported results of operations.
Recent Accounting Pronouncements	Recent Accounting Pronouncements Accounting Pronouncement - Adopted In September 2022, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2022-04 “Liabilities-Supplier Finance Programs (Subtopic 405-50): Disclosure of Supplier Finance Program Obligations”. The amendments in this ASU require that a company that uses a supplier finance program in connection with the purchase of goods or services disclose sufficient information about the program to allow a user of financial statements to understand the program’s nature, activity during the period, changes from period to period, and potential magnitude. ASU 2022-04 is effective for fiscal years beginning after December 15, 2022 . We adopted ASU 2022-04 in the first quarter of fiscal year 2024 and have indicated the impact of ASU 2022-04 to our consolidated financial statements. Refer to Note 3, Supply Chain Finance Program, for further details. Accounting Pronouncements - To Be Adopted In November 2023, the FASB issued ASU 2023-07 “Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures”. The amendments in this ASU require public entities to disclose information about their reportable segments’ significant expenses on an interim and annual basis. The ASU is effective for fiscal years beginning after December 15, 2023, and interim periods beginning after December 15, 2024, with early adoption permitted. We expect to adopt ASU 2023-07 in fiscal year 2025 and are currently evaluating the impact of ASU 2023-07 on our consolidated financial statements.

Inventories (Tables)

Inventories (Tables)	6 Months Ended
	Apr. 30, 2024
Inventory Disclosure [Abstract]
Schedule of Inventories	Inventories consisted of the following: April 30, October 31, Chassis $ 109.1 $ 122.2 Raw materials & parts 205.6 224.3 Work in process 256.0 274.1 Finished products 67.9 46.8 638.6 667.4 Less: reserves ( 8.2 ) ( 9.7 ) Total inventories, net $ 630.4 $ 657.7

Property, Plant and Equipment (

Property, Plant and Equipment (Tables)	6 Months Ended
	Apr. 30, 2024
Property, Plant and Equipment [Abstract]
Summary of Property, Plant and Equipment	Property, plant and equipment consisted of the following: April 30, October 31, Land & land improvements $ 20.7 $ 19.2 Buildings & improvements 109.7 111.7 Machinery & equipment 104.6 107.2 Computer hardware & software 67.8 65.0 Office furniture & fixtures 6.1 5.5 Construction in process 5.8 16.4 314.7 325.0 Less: accumulated depreciation ( 164.6 ) ( 165.5 ) Total property, plant and equipment, net $ 150.1 $ 159.5

Goodwill and Intangible Assets

Goodwill and Intangible Assets (Tables)	6 Months Ended
	Apr. 30, 2024
Goodwill and Intangible Assets Disclosure [Abstract]
Summary of Goodwill by Segment	The table below represents goodwill by segment: April 30, October 31, Specialty Vehicles $ 95.2 $ 114.8 Recreational Vehicles 42.5 42.5 Total goodwill $ 137.7 $ 157.3 The change in the net carrying value of goodwill consisted of the following: Six Months Ended 2024 2023 Balance at beginning of period $ 157.3 $ 157.3 Divestitures (Note 7) ( 19.6 ) — Balance at end of period $ 137.7 $ 157.3
Summary of Intangible Assets Excluding Goodwill	Intangible assets (excluding goodwill) consisted of the following: April 30, 2024 Weighted- Gross Accumulated Net Finite-lived Customer Relationships 8 $ 42.9 $ ( 35.9 ) $ 7.0 Indefinite-lived trade names 91.3 — 91.3 Total intangible assets, net $ 134.2 $ ( 35.9 ) $ 98.3 October 31, 2023 Weighted- Gross Accumulated Net Finite-lived Customer Relationships 8 $ 43.7 $ ( 35.4 ) $ 8.3 Indefinite-lived trade names 107.4 — 107.4 Total intangible assets, net $ 151.1 $ ( 35.4 ) $ 115.7
Summary of Net Carrying Value of Indefinite-lived Trade Names	The change in the net carrying value of indefinite-lived trade names consisted of the following: Six Months Ended 2024 2023 Balance at beginning of period $ 107.4 $ 107.4 Impairment (Note 8) ( 7.2 ) — Divestiture (Note 7) ( 8.9 ) — Balance at end of period $ 91.3 $ 107.4

Long-Term Debt (Tables)

Long-Term Debt (Tables)	6 Months Ended
	Apr. 30, 2024
Debt Disclosure [Abstract]
Summary of Long-Term Debt	The Company was obligated under the following debt instrument: April 30, October 31, ABL facility $ 220.0 $ 150.0
Summary of Gross Borrowings and Gross Payments under 2021 ABL Facility	The following table summarizes the gross borrowing and gross payments under the Company's 2021 ABL Facility: Six Months Ended 2024 2023 Gross borrowings $ 610.0 $ 297.0 Gross payments 540.0 297.0 Total net borrowings $ 70.0 $ —

Warranties (Tables)

Warranties (Tables)	6 Months Ended
	Apr. 30, 2024
Guarantees [Abstract]
Schedule of Changes in Warranty Liability	Changes in the Company’s warranty liability consisted of the following: Six Months Ended 2024 2023 Balance at beginning of period $ 39.1 $ 31.9 Warranty provisions 19.1 16.6 Settlements made ( 20.0 ) ( 15.9 ) Change in liability of pre-existing warranties ( 1.1 ) — Divestiture (Note 7) ( 1.1 ) — Balance at end of period $ 36.0 $ 32.6
Accrued Warranty Classified in Condensed Unaudited Consolidated Balance Sheets	Accrued warranty is classified in the Company’s condensed unaudited consolidated balance sheets as follows: April 30, October 31, Current liabilities $ 15.8 $ 23.4 Other long-term liabilities 20.2 15.7 Total warranty liability $ 36.0 $ 39.1

Earnings Per Share (Tables)

Earnings Per Share (Tables)	6 Months Ended
	Apr. 30, 2024
Earnings Per Share [Abstract]
Reconciliation of Basic Weighted-Average Common Shares Outstanding to Diluted Weighted-Average Shares Outstanding	The reconciliation of basic weighted-average shares outstanding to diluted weighted-average shares outstanding was as follows: Three Months Ended Six Months Ended 2024 2023 2024 2023 Basic weighted-average common shares outstanding 53,117,059 58,698,700 56,116,502 58,516,877 Dilutive stock options — 1,898 — 2,146 Dilutive restricted stock awards 150,665 250,151 223,072 310,553 Dilutive restricted stock units 280,471 73,092 318,948 155,634 Dilutive performance stock units 114,015 — 102,175 — Diluted weighted-average common shares outstanding 53,662,210 59,023,841 56,760,697 58,985,210
Calculation of Diluted Weighted-Average Shares Outstanding Due to Anti-Dilutive Effect	The table below represents shares excluded from the calculation of diluted weighted-average shares outstanding because they would have been anti-dilutive: Three Months Ended Six Months Ended 2024 2023 2024 2023 Anti-dilutive shares 23,532 870,281 23,532 264,512

Commitments and Contingencies (

Commitments and Contingencies (Tables)	6 Months Ended
	Apr. 30, 2024
Commitments and Contingencies Disclosure [Abstract]
Schedule of Contingent Liabilities	The Company is contingently liable under bid, performance and specialty bonds issued by the Company’s surety company and has open standby letters of credit issued by the Company’s banks in favor of third parties as follows: April 30, October 31, Performance, bid and specialty bonds $ 620.8 $ 603.2 Open standby letters of credit 14.2 15.9 Total $ 635.0 $ 619.1

Business Segment Information (T

Business Segment Information (Tables)	6 Months Ended
	Apr. 30, 2024
Segment Reporting [Abstract]
Selected Financial Information of Segments	Selected financial information of the Company’s segments is as follows: Three Months Ended April 30, 2024 Specialty Vehicles Recreational Corporate, Consolidated Net sales $ 437.4 $ 179.7 $ ( 0.2 ) $ 616.9 Depreciation and amortization $ 4.4 $ 1.6 $ 0.5 $ 6.5 Capital expenditures $ 3.8 $ 0.9 $ 1.2 $ 5.9 Total assets $ 873.6 $ 392.1 $ 64.7 $ 1,330.4 Adjusted EBITDA $ 33.8 $ 12.1 $ ( 8.4 ) Three Months Ended April 30, 2023 Specialty Vehicles Recreational Corporate, Consolidated Net sales $ 425.0 $ 256.6 $ ( 0.4 ) $ 681.2 Depreciation and amortization $ 3.9 $ 2.0 $ 0.6 $ 6.5 Capital expenditures $ 3.6 $ 2.3 $ 0.9 $ 6.8 Total assets $ 986.1 $ 366.6 $ 39.8 $ 1,392.5 Adjusted EBITDA $ 20.3 $ 29.1 $ ( 7.5 ) Six Months Ended April 30, 2024 Specialty Vehicles Recreational Vehicles Corporate, Consolidated Net sales $ 854.6 $ 349.1 $ ( 0.8 ) $ 1,202.9 Depreciation and amortization $ 8.7 $ 3.2 $ 1.1 $ 13.0 Capital expenditures $ 7.7 $ 6.5 $ 2.2 $ 16.4 Total assets $ 873.6 $ 392.1 $ 64.7 $ 1,330.4 Adjusted EBITDA $ 60.0 $ 23.7 $ ( 15.7 ) Six Months Ended April 30, 2023 Specialty Vehicles Recreational Vehicles Corporate, Consolidated Net sales $ 783.0 $ 482.6 $ ( 0.9 ) $ 1,264.7 Depreciation and amortization $ 7.7 $ 4.6 $ 1.1 $ 13.4 Capital expenditures $ 6.6 $ 3.1 $ 0.9 $ 10.6 Total assets $ 986.1 $ 366.6 $ 39.8 $ 1,392.5 Adjusted EBITDA $ 25.6 $ 53.4 $ ( 15.8 )
Reconciliation of Segment Adjusted EBITDA to Net Income (Loss)	Provided below is a reconciliation of segment Adjusted EBITDA to Net income: Three Months Ended Six Months Ended 2024 2023 2024 2023 Specialty Vehicles Adjusted EBITDA $ 33.8 $ 20.3 $ 60.0 $ 25.6 Recreational Vehicles Adjusted EBITDA 12.1 29.1 23.7 53.4 Corporate and Other Adjusted EBITDA ( 8.4 ) ( 7.5 ) ( 15.7 ) ( 15.8 ) Depreciation and amortization ( 6.5 ) ( 6.5 ) ( 13.0 ) ( 13.4 ) Interest expense, net ( 6.5 ) ( 7.4 ) ( 13.4 ) ( 14.5 ) Provision for income taxes ( 2.7 ) ( 5.8 ) ( 64.1 ) ( 0.7 ) Transaction expenses ( 1.4 ) ( 0.2 ) ( 6.4 ) ( 0.4 ) Sponsor expense reimbursement — — ( 0.2 ) ( 0.2 ) Restructuring ( 3.7 ) — ( 4.5 ) — Restructuring related charges — ( 3.2 ) ( 6.1 ) ( 8.8 ) Impairment charges — — ( 12.6 ) — Stock-based compensation expense ( 3.0 ) ( 1.6 ) ( 5.9 ) ( 7.5 ) Legal matters — ( 1.6 ) ( 2.9 ) ( 15.4 ) Gain (Loss) on sale of business 1.5 ( 1.1 ) 259.0 ( 1.1 ) Other items — ( 0.3 ) — ( 0.5 ) Net income $ 15.2 $ 14.2 $ 197.9 $ 0.7

Basis of Presentation - Additio

Basis of Presentation - Additional Information (Detail) - USD ($) $ / shares in Units, $ in Millions		3 Months Ended		6 Months Ended
	Apr. 12, 2024	Apr. 30, 2024	Apr. 30, 2023	Apr. 30, 2024	Apr. 30, 2023
Organization Consolidation And Presentation Of Financial Statements [Line Items]
Selling, general and administrative expenses		$ 50.1	$ 52.5	$ 105.5	$ 120.3
Dividends declared per common share	$ 0.05	$ 0.05	$ 0.05	$ 3.1	$ 0.1
ASU 2022-04
Organization Consolidation And Presentation Of Financial Statements [Line Items]
Change in Accounting Principle, Accounting Standards Update, Adoption Date		Dec. 15, 2022		Dec. 15, 2022
Change in Accounting Principle, Accounting Standards Update, Adopted [true false]		true		true
Change in Accounting Principle, Accounting Standards Update, Immaterial Effect [true false]		false		false
Primary Equity Holder [Member]
Organization Consolidation And Presentation Of Financial Statements [Line Items]
Selling, general and administrative expenses				$ 0.2
American Industrial Partners [Member]
Organization Consolidation And Presentation Of Financial Statements [Line Items]
Shares issued		25,795,191
American Industrial Partners [Member] | Minimum [Member]
Organization Consolidation And Presentation Of Financial Statements [Line Items]
Percentage of company's shares owned		15%		15%

Revenue Recognition - Additiona

Revenue Recognition - Additional Information (Detail) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Apr. 30, 2024	Apr. 30, 2023	Apr. 30, 2024	Apr. 30, 2023	Oct. 31, 2023	Oct. 31, 2022
Disaggregation of Revenue [Line Items]
Revenue recognized included in customer advances	$ 44.2	$ 44.6	$ 93	$ 82.2
Customer advances					$ 357.4	$ 332.8
Performance obligations, expected to be satisfied	3,063.9		3,063.9
Interest Expense [Member]
Disaggregation of Revenue [Line Items]
Interest charges	$ 2.2	$ 2.2	$ 4.5	$ 4.1

Revenue Recognition Additional

Revenue Recognition Additional Information 1 (Detail) $ in Millions	Apr. 30, 2024 USD ($)
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Performance obligations, expected to be satisfied	$ 3,063.9
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-05-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Performance obligations, expected to be satisfied	$ 1,231.8
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period	12 months
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2025-05-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Performance obligations, expected to be satisfied	$ 1,832.1
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period

Supply Chain Finance Program -

Supply Chain Finance Program - Additional Information (Detail) - Supply Chain Finance [Member] - USD ($) $ in Millions	Apr. 30, 2024	Oct. 31, 2023
Supplier Finance Program [Line Items]
Supplier finance program, payment timing, period	120 days
Outstanding obligation	$ 12.9	$ 13.1
Supplier Finance Program, Obligation, Current, Statement of Financial Position [Extensible Enumeration]	Accounts Payable, Current	Accounts Payable, Current

Inventories - Schedule of Inven

Inventories - Schedule of Inventories (Detail) - USD ($) $ in Millions	Apr. 30, 2024	Oct. 31, 2023
Inventory Disclosure [Abstract]
Chassis	$ 109.1	$ 122.2
Raw materials & parts	205.6	224.3
Work in process	256	274.1
Finished products	67.9	46.8
Inventory, Gross, Total	638.6	667.4
Less: reserves	(8.2)	(9.7)
Total inventories, net	$ 630.4	$ 657.7

Property, Plant and Equipment -

Property, Plant and Equipment - Summary of Property, Plant and Equipment (Detail) - USD ($) $ in Millions	Apr. 30, 2024	Oct. 31, 2023
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	$ 314.7	$ 325
Less: accumulated depreciation	(164.6)	(165.5)
Total property, plant and equipment, net	150.1	159.5
Land and Land Improvements [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	20.7	19.2
Building and Improvements [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	109.7	111.7
Machinery and Equipment [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	104.6	107.2
Computer Hardware and Software [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	67.8	65
Office Furniture and Fixtures [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	6.1	5.5
Construction in Progress [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	$ 5.8	$ 16.4

Property, Plant and Equipment_2

Property, Plant and Equipment - Additional Information (Detail) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Apr. 30, 2024	Apr. 30, 2023	Apr. 30, 2024	Apr. 30, 2023
Property, Plant and Equipment [Line Items]
Depreciation expense	$ 5.9	$ 5.5	$ 11.8	$ 11
Impairment charges for discontinuation of property, plant, and equipment			$ 4.4

Goodwill and Intangible Asset_2

Goodwill and Intangible Assets - Summary of Goodwill by Segment (Detail) - USD ($) $ in Millions	Apr. 30, 2024	Oct. 31, 2023	Apr. 30, 2023	Oct. 31, 2022
Goodwill [Line Items]
Goodwill	$ 137.7	$ 157.3	$ 157.3	$ 157.3
Specialty Vehicles [Member]
Goodwill [Line Items]
Goodwill	95.2	114.8
Recreational Vehicles [Member]
Goodwill [Line Items]
Goodwill	$ 42.5	$ 42.5

Goodwill and Intangible Asset_3

Goodwill and Intangible Assets - Summary of Change in Net Carrying Value of Goodwill (Detail) - USD ($) $ in Millions	6 Months Ended
	Apr. 30, 2024	Apr. 30, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
Balance at beginning of period	$ 157.3	$ 157.3
Divestitures (Note 7)	(19.6)	0
Balance at end of period	$ 137.7	$ 157.3

Goodwill and Intangible Asset_4

Goodwill and Intangible Assets - Summary of Intangible Assets Excluding Goodwill (Detail) - USD ($) $ in Millions	6 Months Ended	12 Months Ended
	Apr. 30, 2024	Oct. 31, 2023
Intangible Assets Excluding Goodwill [Line Items]
Finite-lived Customer Relationships, accumulated amortization	$ (35.9)	$ (35.4)
Indefinite-lived trade names	91.3	107.4
Total intangible assets, gross	134.2	151.1
Total intangible assets, net	$ 98.3	$ 115.7
Customer Relationships [Member]
Intangible Assets Excluding Goodwill [Line Items]
Finite-lived Customer Relationships, Weighted-Average Life	8 years	8 years
Finite-lived Customer Relationships, gross	$ 42.9	$ 43.7
Finite-lived Customer Relationships, accumulated amortization	(35.9)	(35.4)
Finite-lived Customer Relationships, net	$ 7	$ 8.3

Goodwill and Intangible Asset_5

Goodwill and Intangible Assets - Summary of Net Carrying Value of Indefinite-lived Trade Names (Detail) - Trade Names [Member] - USD ($) $ in Millions	6 Months Ended
	Apr. 30, 2024	Apr. 30, 2023
Indefinite-Lived Intangible Assets [Line Items]
Balance at beginning of period	$ 107.4	$ 107.4
Impairment (Note 8)	(7.2)
Divestiture (Note 7)	(8.9)	0
Balance at end of period	$ 91.3	$ 107.4

Goodwill and Intangible Asset_6

Goodwill and Intangible Assets - Additional Information (Detail) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Apr. 30, 2024	Apr. 30, 2023	Apr. 30, 2024	Apr. 30, 2023
Indefinite-Lived Intangible Assets [Line Items]
Amortization expense	$ 0.6	$ 1	$ 1.2	$ 2.4
Estimated future amortization expense of finite-lived intangible assets remaining six months	1.1		1.1
Estimated future amortization expense of finite-lived intangible assets year one	1.7		1.7
Estimated future amortization expense of finite-lived intangible assets year two	1.2		1.2
Estimated future amortization expense of finite-lived intangible assets year three	1.2		1.2
Estimated future amortization expense of finite-lived intangible assets year four	1.2		1.2
Estimated future amortization expense of finite-lived intangible assets year five	$ 0.6		0.6
Trade Names [Member]
Indefinite-Lived Intangible Assets [Line Items]
Impairment charge			(7.2)
Trade Names [Member] | Level 3 [Member]
Indefinite-Lived Intangible Assets [Line Items]
Impairment charge			$ 7.2

Divestiture Activities - Additi

Divestiture Activities - Additional Information (Detail) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Apr. 30, 2024	Apr. 30, 2023	Apr. 30, 2024	Apr. 30, 2023
Income Statement Balance Sheet And Additional Disclosures By Disposal Groups Including Discontinued Operations [Line Items]
Proceeds from sale of business			$ 318.2	$ 0.6
Selling, general and administrative expenses	$ 50.1	$ 52.5	105.5	$ 120.3
Fire RTC [Member]
Income Statement Balance Sheet And Additional Disclosures By Disposal Groups Including Discontinued Operations [Line Items]
Gain (loss) on sale of business	$ 1.5		1.5
Sale of Collins [Member]
Income Statement Balance Sheet And Additional Disclosures By Disposal Groups Including Discontinued Operations [Line Items]
Gain (loss) on sale of business			257.5
Proceeds from sale of business			308.2
Sale of Collins [Member] | Selling, General and Administrative Expenses [Member]
Income Statement Balance Sheet And Additional Disclosures By Disposal Groups Including Discontinued Operations [Line Items]
Transaction costs			$ 5

Restructuring and Other Relat_2

Restructuring and Other Related Charges - Additional Information (Detail) - USD ($) $ in Millions	3 Months Ended	6 Months Ended
	Apr. 30, 2024	Apr. 30, 2024
Restructuring Cost And Reserve [Line Items]
Restructuring costs	$ 3.7	$ 4.5
Impairment charges related to intangible assets and property, plant, and equipment		11.6
Inventory write-offs		5.8
Other Costs		0.3
Minimum [Member]
Restructuring Cost And Reserve [Line Items]
Additional charges associated with employee severance and other termination benefits		3
Maximum [Member]
Restructuring Cost And Reserve [Line Items]
Additional charges associated with employee severance and other termination benefits		$ 4

Restructuring and Other Relat_3

Restructuring and Other Related Charges - Schedule of Restructuring Reserves Related (Detail) (Detail) - USD ($) $ in Millions	3 Months Ended	6 Months Ended
	Apr. 30, 2024	Apr. 30, 2024
Restructuring and Related Activities [Abstract]
Restructuring provision	$ 3.7	$ 4.5
Utilized - cash		(0.9)
Balance at end of the period	$ 3.6	$ 3.6

Long-Term Debt - Summary of Lon

Long-Term Debt - Summary of Long-Term Debt (Detail) - USD ($) $ in Millions	Apr. 30, 2024	Oct. 31, 2023
Debt Instruments [Abstract]
ABL facility	$ 220	$ 150

Long-Term Debt - Additional Inf

Long-Term Debt - Additional Information (Detail) - 2021 Asset Based Lending Facility [Member] - USD ($) $ in Millions		6 Months Ended
	Apr. 13, 2021	Apr. 30, 2024	Oct. 31, 2023
Debt Instrument [Line Items]
Maximum borrowing capacity	$ 550
Incremental borrowing capacity amount	100
Debt instrument maturity date		Apr. 13, 2026
Weighted-average interest rate		6.92%	6.93%
Available current borrowing capacity		$ 280.3	$ 384.1
Base Rate [Member]
Debt Instrument [Line Items]
Debt instrument applicable interest rate margins		0.50%
SOFR [Member]
Debt Instrument [Line Items]
Debt instruments applicable interest margin and credit spread adjustment		0.10%
Debt instrument applicable interest rate margins		1.50%
Required annual payment percentage		0%
Maximum [Member]
Debt Instrument [Line Items]
Additional borrowing capacity	$ 20
Fixed charge coverage ratio	110%
Minimum [Member]
Debt Instrument [Line Items]
Fixed charge coverage ratio	100%
Letter of Credit [Member]
Debt Instrument [Line Items]
Maximum borrowing capacity	$ 35
Letter of Credit [Member] | Maximum [Member]
Debt Instrument [Line Items]
Maximum borrowing capacity	550
Swing Lines Loan [Member]
Debt Instrument [Line Items]
Maximum borrowing capacity	$ 30

Long-Term Debt - Summary of Gro

Long-Term Debt - Summary of Gross Borrowings and Gross Payments under 2021 ABL Facility (Detail) - USD ($) $ in Millions	6 Months Ended
	Apr. 30, 2024	Apr. 30, 2023
Debt Instrument [Line Items]
Total net borrowings	$ 70
2021 Asset Based Lending Facility [Member]
Debt Instrument [Line Items]
Gross borrowings	610	$ 297
Gross payments	540	$ 297
Total net borrowings	$ 70

Warranties - Schedule of Change

Warranties - Schedule of Changes in Warranty Liability (Detail) - USD ($) $ in Millions	6 Months Ended
	Apr. 30, 2024	Apr. 30, 2023
Guarantees [Abstract]
Balance at beginning of period	$ 39.1	$ 31.9
Warranty provisions	19.1	16.6
Settlements made	(20)	(15.9)
Change in liability of pre-existing warranties	(1.1)
Divestiture (Note 7)	(1.1)
Balance at end of period	$ 36	$ 32.6

Warranties - Accrued Warranty C

Warranties - Accrued Warranty Classified in Condensed Unaudited Consolidated Balance Sheets (Detail) - USD ($) $ in Millions	Apr. 30, 2024	Oct. 31, 2023	Apr. 30, 2023	Oct. 31, 2022
Guarantees [Abstract]
Current liabilities	$ 15.8	$ 23.4
Other long-term liabilities	20.2	15.7
Total warranty liability	$ 36	$ 39.1	$ 32.6	$ 31.9

Earnings Per Share - Reconcilia

Earnings Per Share - Reconciliation of Basic Weighted-Average Common Shares Outstanding to Diluted Weighted-Average Shares Outstanding (Detail) - shares	3 Months Ended		6 Months Ended
	Apr. 30, 2024	Apr. 30, 2023	Apr. 30, 2024	Apr. 30, 2023
Earnings Per Share [Abstract]
Basic weighted-average common shares outstanding	53,117,059	58,698,700	56,116,502	58,516,877
Dilutive stock options	0	1,898	0	2,146
Dilutive restricted stock awards	150,665	250,151	223,072	310,553
Dilutive restricted stock units	280,471	73,092	318,948	155,634
Dilutive performance stock units	114,015	0	102,175	0
Diluted weighted-average common shares outstanding	53,662,210	59,023,841	56,760,697	58,985,210

Earnings Per Share - Calculatio

Earnings Per Share - Calculation of Diluted Weighted-Average Shares Outstanding Due to Anti-Dilutive Effect (Detail) - shares	3 Months Ended		6 Months Ended
	Apr. 30, 2024	Apr. 30, 2023	Apr. 30, 2024	Apr. 30, 2023
Stock Options [Member]
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Anti-dilutive shares	23,532	870,281	23,532	264,512

Income Taxes - Additional Infor

Income Taxes - Additional Information (Detail) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Apr. 30, 2024	Apr. 30, 2023	Apr. 30, 2024	Apr. 30, 2023	Oct. 31, 2023
Income Tax Disclosure [Abstract]
Income tax expense	$ 2.7	$ 5.8	$ 64.1	$ 0.7
Pre-tax income	15.10%	29%	24.50%	50%
Net discrete tax expense (benefit) related tosale of Collins			$ 62.2
Net discrete tax expense (benefit) related to share-based compensation	$ (1.2)	$ 0.6		$ 0.6
Unrecognized tax benefits	$ 3		$ 3		$ 5.6

Commitments and Contingencies -

Commitments and Contingencies - Schedule of Contingent Liabilities (Detail) - USD ($) $ in Millions	Apr. 30, 2024	Oct. 31, 2023
Commitments and Contingencies Disclosure [Abstract]
Performance, bid and specialty bonds	$ 620.8	$ 603.2
Open standby letters of credit	14.2	15.9
Total	$ 635	$ 619.1

Commitments and Contingencies_2

Commitments and Contingencies - Additional Information (Detail) - USD ($) $ in Millions	6 Months Ended		12 Months Ended
	Apr. 30, 2024	Apr. 30, 2023	Oct. 31, 2023
Loss Contingencies [Line Items]
Contingent liability under purchase agreements for future chassis inventory purchases	$ 18.9		$ 8.8
Repurchase agreement	2 years
Represents the gross value of all vehicles under repurchase agreements	$ 415.5		490.1
Aggregate amount of indebtedness which the Company is a party to through guarantee agreements	$ 24.7		27.2
Guarantee agreement	5 years
Loss on litigation settlements		$ 11.5
Additional loss on litigation settlements		$ 2
Maximum [Member]
Loss Contingencies [Line Items]
Contingent liability under purchase agreements for future chassis inventory purchases	$ 25.5		25.9
Estimated loss exposure under contract	$ 4.2		$ 5.4

Business Segment Information -

Business Segment Information - Additional Information (Detail)	6 Months Ended
	Apr. 30, 2024 Segment
Segment Reporting [Abstract]
Number of reportable segments	2

Business Segment Information _2

Business Segment Information - Schedule of Selected Financial Information (Detail) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Apr. 30, 2024	Apr. 30, 2023	Apr. 30, 2024	Apr. 30, 2023	Oct. 31, 2023
Segment Reporting Information [Line Items]
Net sales	$ 616.9	$ 681.2	$ 1,202.9	$ 1,264.7
Depreciation and amortization	6.5	6.5	13	13.4
Capital expenditures	5.9	6.8	16.4	10.6
Total assets	1,330.4	1,392.5	1,330.4	1,392.5	$ 1,410.4
Operating Segment [Member] | Specialty Vehicles [Member]
Segment Reporting Information [Line Items]
Net sales	437.4	425	854.6	783
Depreciation and amortization	4.4	3.9	8.7	7.7
Capital expenditures	3.8	3.6	7.7	6.6
Total assets	873.6	986.1	873.6	986.1
Adjusted EBITDA	33.8	20.3	60	25.6
Operating Segment [Member] | Recreational Vehicles [Member]
Segment Reporting Information [Line Items]
Net sales	179.7	256.6	349.1	482.6
Depreciation and amortization	1.6	2	3.2	4.6
Capital expenditures	0.9	2.3	6.5	3.1
Total assets	392.1	366.6	392.1	366.6
Adjusted EBITDA	12.1	29.1	23.7	53.4
Corporate, Other and Elims [Member]
Segment Reporting Information [Line Items]
Net sales	(0.2)	(0.4)	(0.8)	(0.9)
Depreciation and amortization	0.5	0.6	1.1	1.1
Capital expenditures	1.2	0.9	2.2	0.9
Total assets	64.7	39.8	64.7	39.8
Adjusted EBITDA	$ (8.4)	$ (7.5)	$ (15.7)	$ (15.8)

Business Segment Information _3

Business Segment Information - Reconciliation of Segment Adjusted EBITDA to Net Income (Loss) (Detail) - USD ($) $ in Millions	3 Months Ended				6 Months Ended
	Apr. 30, 2024	Jan. 31, 2024	Apr. 30, 2023	Jan. 31, 2023	Apr. 30, 2024	Apr. 30, 2023
Segment Reporting Information [Line Items]
Interest expense, net	$ (6.5)		$ (7.4)		$ (13.4)	$ (14.5)
Provision for income taxes	(2.7)		(5.8)		(64.1)	(0.7)
Restructuring costs	(3.7)				(4.5)
Impairment charges					(12.6)
Stock-based compensation expense					(5.9)	(7.5)
Gain (Loss) on sale of business	1.5		(1.1)		259	(1.1)
Net income	15.2	$ 182.7	14.2	$ (13.5)	197.9	0.7
Operating Segment [Member] | Specialty Vehicles [Member]
Segment Reporting Information [Line Items]
Adjusted EBITDA	33.8		20.3		60	25.6
Operating Segment [Member] | Recreational Vehicles [Member]
Segment Reporting Information [Line Items]
Adjusted EBITDA	12.1		29.1		23.7	53.4
Operating Segment [Member] | Corporate and Other [Member]
Segment Reporting Information [Line Items]
Adjusted EBITDA	(8.4)		(7.5)		(15.7)	(15.8)
Reconciling Items [Member]
Segment Reporting Information [Line Items]
Depreciation and amortization	(6.5)		(6.5)		(13)	(13.4)
Interest expense, net	(6.5)		(7.4)		(13.4)	(14.5)
Provision for income taxes	(2.7)		(5.8)		(64.1)	(0.7)
Transaction expenses	(1.4)		(0.2)		(6.4)	(0.4)
Sponsor expense reimbursement					(0.2)	(0.2)
Restructuring costs	(3.7)				(4.5)
Restructuring related charges			(3.2)		(6.1)	(8.8)
Impairment charges					(12.6)
Stock-based compensation expense	(3)		(1.6)		(5.9)	(7.5)
Legal matters			(1.6)		(2.9)	(15.4)
Gain (Loss) on sale of business	1.5		(1.1)		259	(1.1)
Other items			(0.3)			(0.5)
Net income	$ 15.2		$ 14.2		$ 197.9	$ 0.7

Shareholders' Equity - Addition

Shareholders' Equity - Additional Information (Detail) - USD ($)				3 Months Ended		6 Months Ended
	Apr. 12, 2024	Feb. 20, 2024	Feb. 16, 2024	Apr. 30, 2024	Apr. 30, 2023	Apr. 30, 2024	Apr. 30, 2023	Mar. 15, 2024	Jun. 01, 2023
Equity Class Of Treasury Stock [Line Items]
Stock repurchase program, total cost				$ 129,700,000
Dividends declared per common share	$ 0.05			$ 0.05	$ 0.05	$ 3.1	$ 0.1
Dividends payable, record date	Mar. 28, 2024
Selling, General and Administrative Expenses [Member]
Equity Class Of Treasury Stock [Line Items]
Offering cost				$ 1,400,000		$ 1,400,000
American Industrial Partners [Member]
Equity Class Of Treasury Stock [Line Items]
Stock repurchase program, average price per share		$ 15.76
American Industrial Partners [Member] | IPO [Member]
Equity Class Of Treasury Stock [Line Items]
Shares issued		18,400,000
Number of shares sold		10,400,000
Shares offering, price per share		$ 16.5
American Industrial Partners [Member] | Second Offerings [Member]
Equity Class Of Treasury Stock [Line Items]
Shares issued								7,395,191
Shares offering, price per share								$ 18
Dividend Paid [Member]
Equity Class Of Treasury Stock [Line Items]
Dividends payable, record date			Feb. 09, 2024
Dividends paid per common share			$ 3
Common Stock [Member]
Equity Class Of Treasury Stock [Line Items]
Stock repurchase program, number of remaining shares repurchased and retired				8,000,000
Common Stock [Member] | American Industrial Partners [Member]
Equity Class Of Treasury Stock [Line Items]
Stock repurchase program, number of remaining shares repurchased and retired		8,000,000
Common Stock [Member] | 2023 Repurchase Program [Member]
Equity Class Of Treasury Stock [Line Items]
Stock repurchase program, total cost				$ 126,100,000		126,100,000
Additional fees and excise taxes for share repurchase program				$ 3,600,000		$ 3,600,000
Stock repurchase program, number of remaining shares repurchased and retired				8,000,000	0	8,000,000	0
Stock repurchase program, average price per share				$ 15.76		$ 15.76
Common Stock [Member] | Maximum [Member] | 2023 Repurchase Program [Member]
Equity Class Of Treasury Stock [Line Items]
Stock repurchase program, authorized amount to repurchase issued and outstanding common stock									$ 175,000,000

Subsequent Events - Additional

Subsequent Events - Additional Information (Detail) - $ / shares				3 Months Ended		6 Months Ended
	May 30, 2024	Apr. 12, 2024	Feb. 16, 2024	Apr. 30, 2024	Apr. 30, 2023	Apr. 30, 2024	Apr. 30, 2023
Subsequent Event [Line Items]
Dividends declared per common share		$ 0.05		$ 0.05	$ 0.05	$ 3.1	$ 0.1
Dividends payable, record date		Mar. 28, 2024
Dividend Paid [Member]
Subsequent Event [Line Items]
Dividends payable, record date			Feb. 09, 2024
Subsequent Event [Member]
Subsequent Event [Line Items]
Dividends declared per common share	$ 0.05
Per share of common stock on annualized basis	$ 0.2
Dividend payable date	Jul. 12, 2024
Dividends payable, record date	Jun. 28, 2024