REV (REVG) 10-Q 10 Mar 21 2021 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Jan. 31, 2021	Mar. 08, 2021
Cover [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Jan. 31, 2021
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	Q1
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 Name	DE
Entity Tax Identification Number	26-3013415
Entity Address, Address Line One	245 South Executive Drive
Entity Address, Address Line Two	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		64,519,781
Document Transition Report	false
Document Quarterly Report	true

Condensed Unaudited Consolidate

Condensed Unaudited Consolidated Balance Sheets - USD ($) $ in Millions	Jan. 31, 2021	Oct. 31, 2020
Current assets:
Cash and cash equivalents	$ 9.1	$ 11.4
Accounts receivable, net	207.7	229.3
Inventories, net	533.2	537.2
Other current assets	17.6	34.1
Assets held for sale	9.7
Total current assets	777.3	812
Property, plant and equipment, net	155.9	168.4
Goodwill	157.3	157.3
Intangible assets, net	133.6	136.1
Right of use assets	19.6	23.2
Other long-term assets	15.4	15.3
Total assets	1,259.1	1,312.3
Current liabilities:
Current portion of long-term debt	1.7	1.7
Accounts payable	128.7	169.5
Customer advances	167.6	170.1
Accrued warranty	22.3	24.1
Short-term lease obligations	7.6	8.4
Liabilities held for sale	9.3
Other current liabilities	65.9	73.5
Total current liabilities	403.1	447.3
Long-term debt, less current maturities	330.4	340.5
Deferred income taxes	4.1	2.9
Long-term lease obligations	13.5	16.9
Other long-term liabilities	32.7	32.4
Total liabilities	783.8	840
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; 64,479,781 and 63,403,326 shares issued and outstanding, respectively)	0.1	0.1
Additional paid-in capital	499.1	496.1
Retained deficit	(21.1)	(21.1)
Accumulated other comprehensive loss	(2.8)	(2.8)
Total shareholders' equity	475.3	472.3
Total liabilities and shareholders' equity	$ 1,259.1	$ 1,312.3

Condensed Unaudited Consolida_2

Condensed Unaudited Consolidated Balance Sheets (Parenthetical) - $ / shares	Jan. 31, 2021	Oct. 31, 2020
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	64,479,781	63,403,326
Common stock, shares outstanding	64,479,781	63,403,326

Condensed Unaudited Consolida_3

Condensed Unaudited Consolidated Statements of Operations and Comprehensive Income (Loss) - USD ($) $ in Millions	3 Months Ended
	Jan. 31, 2021	Jan. 31, 2020
Income Statement [Abstract]
Net sales	$ 554	$ 532.1
Cost of sales	492.3	484.7
Gross profit	61.7	47.4
Operating expenses:
Selling, general and administrative	47.1	46.3
Research and development costs	1.3	1.2
Amortization of intangible assets	2.6	4
Restructuring	1	0.6
Total operating expenses	52	52.1
Operating income (loss)	9.7	(4.7)
Interest expense, net	5.5	7.3
Loss on business held for sale	3.8
Loss on acquisition of business	0.4
Income (loss) before benefit for income taxes		(12)
Benefit for income taxes	$ 0	(2.6)
Net income (loss)		(9.4)
Comprehensive income (loss)		$ (9.4)
Net income (loss) per common share:
Basic		$ (0.15)
Diluted		(0.15)
Dividends declared per common share		$ 0.05

Condensed Unaudited Consolida_4

Condensed Unaudited Consolidated Statements of Cash Flows - USD ($) $ in Millions	3 Months Ended
	Jan. 31, 2021	Jan. 31, 2020
Cash flows from operating activities:
Net income (loss)		$ (9.4)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:
Depreciation and amortization	$ 8.6	10.8
Amortization of debt issuance costs	0.6	0.5
Stock-based compensation expense	1.9	2.6
Deferred income taxes	1.3	1.8
Gain on sale of assets	(1.5)	(0.5)
Loss on business held for sale	3.8
Loss on acquisition of business	0.4
Changes in operating assets and liabilities, net	(13.2)	(19.1)
Net cash provided by (used in) operating activities	1.9	(13.3)
Cash flows from investing activities:
Purchase of property, plant and equipment	(2.9)	(3.2)
Purchase of rental and used vehicles		(2.7)
Proceeds from sale of assets	10	3.5
Proceeds from sale of business		1.1
Net cash provided by (used in) provided by investing activities	7.1	(1.3)
Cash flows from financing activities:
Net (repayments) proceeds from borrowings under ABL Facility	(10)	82
Repayment of long-term debt	(0.4)
Payment of dividends		(3.1)
Other financing activities	(0.9)	(0.3)
Net cash (used in) provided by financing activities	(11.3)	78.6
Net (decrease) increase in cash and cash equivalents	(2.3)	64
Cash and cash equivalents, beginning of period	11.4	3.3
Cash and cash equivalents, end of period	9.1	67.3
Cash paid (received) for:
Interest	4.7	$ 6.6
Income taxes, net of refunds	$ (11.5)

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 (Deficit) [Member]	Accumulated Other Comprehensive (Loss) [Member]	Non-controlling Interest [Member]
Balance at Oct. 31, 2019	$ 505.2	$ 0.1	$ 490.8	$ 15.8	$ (1.7)	$ 0.2
Balance, shares at Oct. 31, 2019		62,217,486
Net income (loss)	(9.4)			(9.4)
Sale of business	0.2					0.2
Stock-based compensation expense	2.6		2.6
Exercise of common stock options	0.8		0.8
Exercise of common stock options, shares		102,000
Vesting and issuance of restricted stock units and awards, net of forfeitures and employee tax withholdings, shares		360,986
Dividends declared on common stock	(3.1)			(3.1)
Balance at Jan. 31, 2020	495.9	$ 0.1	494.2	3.3	(1.7)
Balance, shares at Jan. 31, 2020		62,680,472
Sale of business	(0.2)					$ (0.2)
Balance at Oct. 31, 2020	472.3	$ 0.1	496.1	(21.1)	(2.8)
Balance, shares at Oct. 31, 2020		63,403,326
Stock-based compensation expense	1.9		1.9
Exercise of common stock options	0.2		0.2
Exercise of common stock options, shares		6,000
Vesting and issuance of restricted stock units and awards, net of forfeitures and employee tax withholdings	(1.1)		(1.1)
Vesting and issuance of restricted stock units and awards, net of forfeitures and employee tax withholdings, shares		901,313
Settlement of liability classified award	2		2
Awards Classified to Liability , Shares		169,142
Balance at Jan. 31, 2021	$ 475.3	$ 0.1	$ 499.1	$ (21.1)	$ (2.8)
Balance, shares at Jan. 31, 2021		64,479,781

Basis of Presentation

Basis of Presentation	3 Months Ended
	Jan. 31, 2021
Accounting Policies [Abstract]
Basis of Presentation	Note 1. Basis of Presentation The unaudited Condensed 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 unaudited Condensed 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 unaudited Condensed 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 year ended October 31, 2020. The interim results are not necessarily indicative of results for the full year. Equity Sponsor Related Party Transactions Certain production facilities and offices of the Company’s subsidiaries are or were leased from certain members of management. Rent expense under these arrangements totaled $0.1 million and $0.5 million for the three months ended January 31, 2021, and January 31, 2020, respectively. Recent Accounting Pronouncements Accounting Pronouncement Recently Adopted The following accounting pronouncement did not have a material impact on the Company’s consolidated financial statements: • Accounting Pronouncement - To Be Adopted • In December 2019, the FASB issued ASU 2019-12, Income Taxes (Topic 740), “Simplifying the Accounting for Income Taxes”. The standard simplifies the accounting for income taxes by removing certain exceptions to the general principles in ASC 740 such as recognizing deferred taxes for equity investments, the incremental approach to performing intra-period tax allocation and calculating income taxes in interim periods. The standard also simplifies accounting for income taxes under U.S. GAAP by clarifying and amending existing guidance, including the recognition of deferred taxes for goodwill, the allocation of taxes to members of a consolidated group and requiring that an entity reflect the effect of enacted changes in tax laws or rates in the annual effective tax rate computation in the interim period that includes the enactment date. The Company will be required to adopt ASU 2019-12 as of November 1, 2021. Early adoption is permitted. The Company is currently evaluating the impact of 2019-12 on its consolidated financial statements.

Revenue Recognition

Revenue Recognition	3 Months Ended
	Jan. 31, 2021
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’s primary source of revenue is generated from the manufacture and sale of specialty vehicles through its direct sales force or 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. Periodically, certain customers request bill and hold transactions. 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, and (iii) has been separated from our inventory and is ready for physical transfer to the customer. 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 corresponding performance obligations are generally satisfied within one year of the contract inception. During the three months ended January 31, 2021 and January 31, 2020, the Company recognized $51.4 million and $54.4 million, respectively, of revenue that was included in the customer advance balances of $170.1 million and $129.9 million as of October 31, 2020 and October 31, 2019, respectively. The Company’s payment terms do not include a significant financing component and the Company does not have significant contract assets.

Leases

Leases	3 Months Ended
	Jan. 31, 2021
Leases [Abstract]
Leases	Note 3. Leases During the three months ended January 31, 2021, and January 31, 2020, the Company recognized total operating lease costs of $2.3 million and $2.3 million, respectively, and paid cash of $2.4 million and $2.2 million, respectively, for amounts included in the measurement of lease liabilities. At January 31, 2021, future minimum operating lease payments due under ASC 842 are summarized by fiscal year in the table below: Remaining nine months of fiscal year 2021 $ 6.9 2022 7.7 2023 4.8 2024 2.8 2025 1.0 Thereafter 2.4 Total undiscounted lease payments 25.6 Less: imputed interest (2.5 ) Total lease liabilities 23.1 Less: lease liabilities held for sale (2.0 ) Total lease liabilities excluding held for sale $ 21.1 As of January 31, 2021, the weighted average remaining lease term and the weighted average discount rate for operating leases was 4.4 years and 5.0%, respectively. As of January 31, 2020, the weighted average remaining lease term and the weighted average discount rate for operating leases was 3.3 years and 5.1%, respectively.

Acquisition

Acquisition	3 Months Ended
	Jan. 31, 2021
Business Combinations [Abstract]
Acquisition	Note 4. Acquisition Spartan Emergency Response On February 1, 2020, the Company acquired substantially all of the assets and liabilities of Spartan Emergency Response (“Spartan ER”), a leading designer, manufacturer and distributor of custom emergency response vehicles, cabs and chassis for the emergency response market, and its brands, from The Shyft Group (NASDAQ: SHYF). Spartan ER is reported as part of the Fire & Emergency segment. The acquisition increases the Company’s market share in several key product categories and provides access to several large new municipalities and regional markets. The initial purchase price for Spartan ER was $54.8 million. The initial purchase price was adjusted to $47.3 million in connection with the post close net working capital adjustments that were finalized in the fourth quarter of fiscal year 2020 and subsequent receipt of $7.5 million from the seller. The net cash consideration paid at closing was funded through the Company’s ABL credit facility. During the first quarter of fiscal year 2021, the purchase price allocation was updated to reflect immaterial measurement period adjustments made to inventories and warranty, and certain other assets acquired and liabilities assumed. These updates resulted in a decrease to the cumulative gain on acquisition of $0.4 million, from $8.6 million to $8.2 million, which is included in the Company’s Condensed Unaudited Consolidated Statements of Operations and Comprehensive Income (Loss) for the three months ended January 31, 2021. The measurement period adjustments did not have a material impact on the Company’s results of operations during the three months ended January 31, 2021. The following table summarizes the final fair values of the assets acquired and liabilities assumed for Spartan ER: Assets: Accounts receivable, net $ 22.9 Inventories, net 83.2 Other current assets 0.7 Property, plant and equipment 13.4 Right of use assets 6.0 Total assets acquired 126.2 Liabilities: Accounts payable 5.3 Customer advances 35.3 Accrued warranty 2.1 Other current liabilities 7.8 Short-term lease obligations 0.8 Deferred income taxes 2.7 Long-term lease obligations 5.4 Other long-term liabilities 11.3 Total liabilities assumed 70.7 Net assets acquired 55.5 Consideration paid 47.3 Gain on acquisition of business $ (8.2 )

Inventories

Inventories	3 Months Ended
	Jan. 31, 2021
Inventory Disclosure [Abstract]
Inventories	Note 5. Inventories Inventories consisted of the following: January 31, 2021 October 31, 2020 Chassis $ 67.0 $ 61.1 Raw materials 191.9 193.2 Work in process 228.2 230.3 Finished products 63.6 72.4 550.7 557.0 Less: reserves (17.5 ) (19.8 ) Total inventories, net $ 533.2 $ 537.2

Property, Plant and Equipment

Property, Plant and Equipment	3 Months Ended
	Jan. 31, 2021
Property Plant And Equipment [Abstract]
Property, Plant and Equipment	Note 6. Property, Plant and Equipment Property, plant and equipment consisted of the following: January 31, 2021 October 31, 2020 Land & land improvements $ 19.5 $ 27.0 Buildings & improvements 103.9 103.9 Machinery & equipment 95.1 95.2 Rental & used vehicles 4.1 4.9 Computer hardware & software 51.0 47.5 Office furniture & fixtures 4.9 5.1 Construction in process 5.3 8.1 283.8 291.7 Less: accumulated depreciation (127.9 ) (123.3 ) Total property, plant and equipment, net $ 155.9 $ 168.4 Depreciation expense was $6.1 million and $6.8 million for the three months ended January 31, 2021, and January 31, 2020, respectively.

Goodwill and Intangible Assets

Goodwill and Intangible Assets	3 Months Ended
	Jan. 31, 2021
Goodwill And Intangible Assets Disclosure [Abstract]
Goodwill and Intangible Assets	Note 7. Goodwill and Intangible Assets The table below represents goodwill by segment: January 31, 2021 October 31, 2020 Fire & Emergency $ 88.6 $ 88.6 Commercial 26.2 26.2 Recreation 42.5 42.5 Total goodwill $ 157.3 $ 157.3 The change in the net carrying value amount of goodwill consisted of the following: Three Months Ended January 31, 2021 2020 Balance at beginning of period $ 157.3 $ 159.8 Activity during the period: Acquisitions — — Divestitures — — Balance at end of period $ 157.3 $ 159.8 Intangible assets (excluding goodwill) consisted of the following: January 31, 2021 Weighted- Average Life Gross Accumulated Amortization Net Finite-lived intangible assets: Customer relationships 8.0 $ 66.2 $ (40.1 ) $ 26.1 Non-compete agreements 5.0 2.0 (1.9 ) 0.1 68.2 (42.0 ) 26.2 Indefinite-lived trade names 107.4 — 107.4 Total intangible assets, net $ 175.6 $ (42.0 ) $ 133.6 October 31, 2020 Weighted- Average Life Gross Accumulated Amortization Net Finite-lived intangible assets: Customer relationships 8.0 $ 66.2 $ (37.8 ) $ 28.4 Non-compete agreements 5.0 2.0 (1.7 ) 0.3 Trade names 7.0 1.3 (1.3 ) — 69.5 (40.8 ) 28.7 Indefinite-lived trade names 107.4 — 107.4 Total intangible assets, net $ 176.9 $ (40.8 ) $ 136.1 Amortization expense was $2.5 million and $4.0 million for the three months ended January 31, 2021, and January 31, 2020, respectively. As of January 31, 2021, fully amortized intangible assets and the related accumulated amortization related to trade names were written off.

Divestiture Activities

Divestiture Activities	3 Months Ended
	Jan. 31, 2021
Discontinued Operations And Disposal Groups [Abstract]
Divestiture Activities	Note 8. Divestiture Activities In the first quarter of fiscal year 2020, the Company completed the sale of REV Coach. The Company received cash proceeds of $1.1 million in the first quarter of fiscal year 2020, and the remaining $0.9 million in the second quarter of fiscal year 2020. In the first quarter of fiscal year 2021, in connection with a strategic review of the product portfolio, the Company made the decision to divest its REV Brazil business. The assets and liabilities to be disposed of in connection with this transaction met the held for sale criteria as of January 31, 2021. The carrying value of the net assets held for sale, inclusive of the cumulative translation adjustment balance attributable to this business, was greater than their fair value, less costs to sell, resulting in a loss of $3.8 million, which is included in the Condensed Unaudited Consolidated Statements of Operations and Comprehensive Income (Loss) for the three months ended January 31, 2021. As of January 31, 2021, assets and liabilities held for sale consisted of the following balances related to the sale of REV Brazil: Property, plant and equipment, net—$0.9 million, Inventories, net—$1.8 million, Accounts receivable, net—$5.6 million, Other current and long-term assets—$1.4 million, Accounts payable—$4.8 million and Other current and long-term liabilities—$4.5 million.

Long-Term Debt

Long-Term Debt	3 Months Ended
	Jan. 31, 2021
Debt Disclosure [Abstract]
Long-Term Debt	Note 9. Long-Term Debt The Company was obligated under the following debt instruments: January 31, 2021 October 31, 2020 ABL facility $ 165.0 $ 175.0 Term Loan, net of debt issuance costs ($1.4 and $1.7) 167.1 167.2 332.1 342.2 Less: current maturities (1.7 ) (1.7 ) Long-term debt, less current maturities $ 330.4 $ 340.5 ABL Facility On January 31, 2020, the Company entered into a Second Amended and Restated revolving credit and guaranty agreement (the “ABL Facility” or “ABL Agreement”) with a syndicate of lenders. The ABL Facility consists of: (i) Revolving Loans, (ii) Swing Line Loans, and (iii) Letters of Credit, aggregating up to a combined maximum of $500.0 million. The total amount borrowed under the ABL Facility is subject to a $30.0 million sublimit for Swing Line loans and a $35.0 million sublimit for Letters of Credit, along with certain borrowing base and other customary restrictions as defined in the ABL Agreement. The debt issuance costs capitalized in connection with the initial agreement and subsequent amendments are included in other long-term assets in the Company’s Condensed Unaudited Consolidated Balance Sheets. The ABL Facility matures on April 25, 2022. The Company may prepay principal, in whole or in part, at any time without penalty. Revolving Loans under the ABL Facility bear interest at rates equal to, at the Company’s option, either a base rate plus an applicable margin, or a Eurodollar rate plus an applicable margin. Applicable interest rate margins are initially 0.75% for all base rate loans and 1.75% for all Eurodollar rate loans (with the Eurodollar rate having a floor of 0%), subject to adjustment based on utilization in accordance with the ABL Agreement. The weighted-average interest rate on borrowings outstanding under the ABL Facility was 1.91% as of January 31, 2021. Interest is payable quarterly for all base rate loans and is payable monthly or quarterly for all Eurodollar rate loans. The lenders under the ABL Facility have a first priority security interest in substantially all accounts receivable and inventory of the Company, and a second priority security interest in substantially all other assets of the Company. The ABL Facility contains customary representations and warranties, affirmative and negative covenants, subject in certain cases to customary limitations, exceptions and exclusions. The ABL Facility also contains certain customary events of default, which should such events occur, could result in the termination of the commitments under the ABL Facility and the acceleration of all outstanding borrowings under it. The ABL Facility contains a financial covenant restricting the Company from allowing its fixed charge coverage ratio to drop below 1.00 to 1.00 during a compliance period, which is triggered when the availability under the ABL Facility falls below a threshold set forth in the credit agreement. The Company was in compliance with all financial covenants under the ABL Facility as of January 31, 2021. As of January 31, 2021, the Company’s availability under the ABL Facility was $230.0 million. The fair value of the ABL Facility approximated book value at both January 31, 2021 and October 31, 2020. Term Loan On April 29, 2020, the Company entered into a Fifth Amended and Restated $175.0 million term loan agreement (“Term Loan” and “Term Loan Agreement”), as Borrower with certain subsidiaries of the Company, acting as guarantors of debt. Principal may be prepaid at any time during the term of the Term Loan without penalty. The Term Loan agreement requires quarterly payments of 0.25% of the original principal balance, with remaining principal payable at maturity, April 25, 2022. The lenders under the Term Loan have a second priority security interest in substantially all accounts receivable and inventory of the Company. Applicable interest rate margins for the Term Loan are 3.25% for base rate loans and 4.25% for Eurodollar rate loans (with the Eurodollar rate having a floor of 1.00%). Interest is payable quarterly for all base rate loans and is payable monthly or quarterly for all Eurodollar rate loans. The weighted-average interest rate on borrowings outstanding under the Term Loan was 5.25% as of January 31, 2021. The Term Loan Agreement contains customary representations and warranties, affirmative and negative covenants, in each case, subject to customary limitations, exceptions and exclusions. The Term Loan Agreement also contains certain customary events of default. The Term Loan Agreement contains a financial covenant restricting the Company from allowing its maximum leverage ratio to be above 5.25 to 1.00. This ratio will decline by 25 basis points each subsequent quarter, to a final level of 4.25 to 1.00 in first quarter of fiscal 2022. The Company was in compliance with all financial covenants under the Term Loan as of January 31, 2021. The fair value of the Term Loan approximated book value at both January 31, 2021 and October 31, 2020.

Warranties

Warranties	3 Months Ended
	Jan. 31, 2021
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: Three Months Ended January 31, 2021 2020 Balance at beginning of period $ 37.0 $ 22.6 Warranty provisions 8.3 5.6 Settlements made (8.6 ) (7.6 ) Warranties for prior year acquisition 1.2 — Balance at end of period $ 37.9 $ 20.6 Accrued warranty is classified in the Company’s Condensed Unaudited Consolidated Balance Sheets as follows: January 31, 2021 October 31, 2020 Current liabilities $ 22.3 $ 24.1 Other long-term liabilities 15.6 12.9 Total warranty liability $ 37.9 $ 37.0

Earnings Per Share

Earnings Per Share	3 Months Ended
	Jan. 31, 2021
Earnings Per Share [Abstract]
Earnings Per Share	Note 11. Earnings Per Share Basic earnings per common share (“EPS”) is computed by dividing net income (loss) by the weighted average number of common shares outstanding. Diluted EPS is computed by dividing net income (loss) 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 outstanding stock options, performance stock units and restricted stock units. The table below reconciles basic weighted-average common shares outstanding to diluted weighted-average shares outstanding for the three months ended January 31, 2021 and January 31, 2020: Three Months Ended January 31, 2021 2020 Basic weighted-average common shares outstanding 63,445,973 62,783,080 Dilutive stock options — — Dilutive restricted stock awards — — Dilutive restricted stock units — — Dilutive performance stock units — — Diluted weighted-average common shares outstanding 63,445,973 62,783,080 The table below represents exclusions from the calculation of weighted-average shares outstanding assuming dilution due to the anti-dilutive effect of the common stock equivalents for the three months ended January 31, 2021 and January 31, 2020: Three Months Ended January 31, 2021 2020 Anti-dilutive stock options 266,800 779,600 Anti-dilutive restricted stock awards 1,117,553 — Anti-dilutive restricted stock units 791,857 2,447,696 Anti-dilutive performance stock units 763,326 — Anti-dilutive common stock equivalents 2,939,536 3,227,296

Income Taxes

Income Taxes	3 Months Ended
	Jan. 31, 2021
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 (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 $0.0 million for the three months ended January 31, 2021, compared to $2.6 million of benefit, or 22.0% of pre-tax loss, for the three months ended January 31, 2020. Results for the three months ended January 31, 2020 were unfavorably impacted by $0.2 million of net discrete tax expenses primarily related to stock-based compensation tax deductions . 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 $3.1 million as of January 31, 2021 and $3.1 million as of October 31, 2020. The unrecognized tax benefits are presented in other long-term liabilities in the Company’s Condensed Unaudited Consolidated Balance Sheets for the period ended January 31, 2021. The Company recognizes accrued interest and penalties related to unrecognized tax benefits in the provision for income taxes in its Condensed Unaudited Consolidated Statements of Operations and Comprehensive Income (Loss). The Company regularly assesses the likelihood of an adverse outcome resulting from examinations to determine the adequacy of its tax reserves. As of January 31, 2021, 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	3 Months Ended
	Jan. 31, 2021
Commitments And Contingencies Disclosure [Abstract]
Commitments and Contingencies	Note 13. Commitments and Contingencies Personal Injury Actions and Other Market Risks January 31, 2021 October 31, 2020 Performance, bid and specialty bonds $ 382.9 $ 328.6 Open standby letters of credit 21.3 11.0 Total $ 404.2 $ 339.6 Chassis Contingent Liabilities Repurchase Commitments Guarantee Arrangements In the event that third parties are unable to meet obligations under these agreements, the Company cannot guarantee that the collateral underlying the agreements will be available or sufficient to avoid losses materially in excess of the amounts reserved. Any losses under these guarantees would generally be mitigated by the value of any underlying collateral, primarily financed vehicles, and are generally subject to the finance company’s ability to provide the Company clear title to foreclosed equipment and other conditions. During periods of economic weakness, collateral values generally decline and can contribute to higher exposure to losses. Other Matters claims, which are probable of assertion, taking into account established accruals for estimated liabilities, should not be material to the business, financial condition or results of operations . A consolidated federal putative securities class action and a consolidated state putative securities class action are pending against the Company and certain of its officers and directors. These actions collectively purport to assert claims on behalf of putative classes of purchasers of the Company’s common stock in or traceable to its January 2017 IPO, purchasers in its secondary offering of common stock in October 2017, and purchasers from October 10, 2017 through June 7, 2018. The state action also names certain of the underwriters for the Company’s IPO or secondary offering as defendants. The federal and state courts each consolidated multiple separate actions pending before them, the first of which was filed on June 8, 2018. The actions have alleged certain violations of the Securities Act of 1933 and, for the federal action, the Securities Exchange Act of 1934. The consolidated state action is currently stayed in favor of the consolidated federal action. Collectively, the actions seek certification of the putative classes asserted and compensatory damages and attorneys’ fees and costs. The underwriter defendants have notified the Company of their intent to seek indemnification from the Company pursuant to the IPO underwriting agreement regarding the claims asserted with respect to the IPO, and the Company expects the underwriters to do the same in regard to the claims asserted with respect to the October 2017 offering. Two purported derivative actions, which have since been consolidated, were also filed in federal court in Delaware in 2019 against the Company’s directors (with the Company as a nominal defendant), premised on allegations similar to those asserted in the consolidated federal securities litigation. The Company and the other defendants intend to defend these lawsuits vigorously. Additional lawsuits may be filed and, at this time, the Company is unable to predict the outcome of the lawsuits, the possible loss or range of loss, if any, associated with the resolution of the lawsuits, or any potential effect that it may have on the Company or its operations.

Business Segment Information

Business Segment Information	3 Months Ended
	Jan. 31, 2021
Segment Reporting [Abstract]
Business Segment Information	Note 14. Business Segment Information The Company is organized into three reportable segments based on management’s process for making operating decisions, allocating capital and measuring performance, and based on the similarity of products, customers served, common use of facilities, and economic characteristics. The Company’s segments are as follows: Fire & Emergency Commercial Recreation 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 office 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 January 31, 2021 Fire & Emergency Commercial Recreation Corporate, Other & Elims Consolidated Net sales $ 280.6 $ 83.1 $ 190.2 $ 0.1 $ 554.0 Depreciation and amortization $ 3.1 $ 0.7 $ 3.6 $ 1.2 $ 8.6 Capital expenditures $ 1.3 $ 0.8 $ 0.4 $ 0.4 $ 2.9 Total assets $ 692.0 $ 205.7 $ 319.1 $ 42.3 $ 1,259.1 Adjusted EBITDA $ 10.2 $ 7.1 $ 15.1 $ (9.2 ) Three Months Ended January 31, 2020 Fire & Emergency Commercial Recreation Corporate, Other & Elims Consolidated Net sales $ 206.5 $ 158.2 $ 166.8 $ 0.6 $ 532.1 Depreciation and amortization $ 3.5 $ 1.9 $ 3.5 $ 1.9 $ 10.8 Capital expenditures $ 1.7 $ 0.6 $ 0.8 $ 0.1 $ 3.2 Total assets $ 632.0 $ 272.8 $ 330.3 $ 170.9 $ 1,406.0 Adjusted EBITDA $ 1.7 $ 10.8 $ 7.0 $ (8.2 ) 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 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 (loss) 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 (loss): Three Months Ended January 31, 2021 2020 Fire & Emergency Adjusted EBITDA $ 10.2 $ 1.7 Commercial Adjusted EBITDA 7.1 10.8 Recreation Adjusted EBITDA 15.1 7.0 Corporate and Other Adjusted EBITDA (9.2 ) (8.2 ) Depreciation and amortization (8.6 ) (10.8 ) Interest expense, net (5.5 ) (7.3 ) Benefit for income taxes — 2.6 Transaction expenses (2.3 ) (1.1 ) Sponsor expense reimbursement (0.2 ) (0.1 ) Restructuring costs (1.0 ) (0.6 ) Stock-based compensation expense (1.9 ) (2.6 ) Legal matters (0.4 ) (0.1 ) Net loss on sale of assets and business held for sale (2.7 ) — Loss on acquisition of business (0.4 ) — Losses attributable to assets held for sale (0.2 ) (0.6 ) Deferred purchase price payment — (0.1 ) Net income (loss) $ — $ (9.4 )

Basis of Presentation (Policies

Basis of Presentation (Policies)	3 Months Ended
	Jan. 31, 2021
Accounting Policies [Abstract]
Recent Accounting Pronouncements	Recent Accounting Pronouncements Accounting Pronouncement Recently Adopted The following accounting pronouncement did not have a material impact on the Company’s consolidated financial statements: • Accounting Pronouncement - To Be Adopted • In December 2019, the FASB issued ASU 2019-12, Income Taxes (Topic 740), “Simplifying the Accounting for Income Taxes”. The standard simplifies the accounting for income taxes by removing certain exceptions to the general principles in ASC 740 such as recognizing deferred taxes for equity investments, the incremental approach to performing intra-period tax allocation and calculating income taxes in interim periods. The standard also simplifies accounting for income taxes under U.S. GAAP by clarifying and amending existing guidance, including the recognition of deferred taxes for goodwill, the allocation of taxes to members of a consolidated group and requiring that an entity reflect the effect of enacted changes in tax laws or rates in the annual effective tax rate computation in the interim period that includes the enactment date. The Company will be required to adopt ASU 2019-12 as of November 1, 2021. Early adoption is permitted. The Company is currently evaluating the impact of 2019-12 on its consolidated financial statements.

Leases (Tables)

Leases (Tables)	3 Months Ended
	Jan. 31, 2021
Leases [Abstract]
Schedule of Future Minimum Operating Lease Payments Due Under ASC 842	At January 31, 2021, future minimum operating lease payments due under ASC 842 are summarized by fiscal year in the table below: Remaining nine months of fiscal year 2021 $ 6.9 2022 7.7 2023 4.8 2024 2.8 2025 1.0 Thereafter 2.4 Total undiscounted lease payments 25.6 Less: imputed interest (2.5 ) Total lease liabilities 23.1 Less: lease liabilities held for sale (2.0 ) Total lease liabilities excluding held for sale $ 21.1

Acquisition (Tables)

Acquisition (Tables)	3 Months Ended
	Jan. 31, 2021
Business Combinations [Abstract]
Schedule of Final Fair Values of Assets Acquired and Liabilities Assumed	The following table summarizes the final fair values of the assets acquired and liabilities assumed for Spartan ER: Assets: Accounts receivable, net $ 22.9 Inventories, net 83.2 Other current assets 0.7 Property, plant and equipment 13.4 Right of use assets 6.0 Total assets acquired 126.2 Liabilities: Accounts payable 5.3 Customer advances 35.3 Accrued warranty 2.1 Other current liabilities 7.8 Short-term lease obligations 0.8 Deferred income taxes 2.7 Long-term lease obligations 5.4 Other long-term liabilities 11.3 Total liabilities assumed 70.7 Net assets acquired 55.5 Consideration paid 47.3 Gain on acquisition of business $ (8.2 )

Inventories (Tables)

Inventories (Tables)	3 Months Ended
	Jan. 31, 2021
Inventory Disclosure [Abstract]
Schedule of Inventories	Inventories consisted of the following: January 31, 2021 October 31, 2020 Chassis $ 67.0 $ 61.1 Raw materials 191.9 193.2 Work in process 228.2 230.3 Finished products 63.6 72.4 550.7 557.0 Less: reserves (17.5 ) (19.8 ) Total inventories, net $ 533.2 $ 537.2

Property, Plant and Equipment (

Property, Plant and Equipment (Tables)	3 Months Ended
	Jan. 31, 2021
Property Plant And Equipment [Abstract]
Summary of Property, Plant and Equipment	Property, plant and equipment consisted of the following: January 31, 2021 October 31, 2020 Land & land improvements $ 19.5 $ 27.0 Buildings & improvements 103.9 103.9 Machinery & equipment 95.1 95.2 Rental & used vehicles 4.1 4.9 Computer hardware & software 51.0 47.5 Office furniture & fixtures 4.9 5.1 Construction in process 5.3 8.1 283.8 291.7 Less: accumulated depreciation (127.9 ) (123.3 ) Total property, plant and equipment, net $ 155.9 $ 168.4

Goodwill and Intangible Assets

Goodwill and Intangible Assets (Tables)	3 Months Ended
	Jan. 31, 2021
Goodwill And Intangible Assets Disclosure [Abstract]
Summary of Goodwill by Segment and Change in Net Carrying Value of Goodwill	The table below represents goodwill by segment: January 31, 2021 October 31, 2020 Fire & Emergency $ 88.6 $ 88.6 Commercial 26.2 26.2 Recreation 42.5 42.5 Total goodwill $ 157.3 $ 157.3 The change in the net carrying value amount of goodwill consisted of the following: Three Months Ended January 31, 2021 2020 Balance at beginning of period $ 157.3 $ 159.8 Activity during the period: Acquisitions — — Divestitures — — Balance at end of period $ 157.3 $ 159.8
Summary of Intangible Assets Excluding Goodwill	Intangible assets (excluding goodwill) consisted of the following: January 31, 2021 Weighted- Average Life Gross Accumulated Amortization Net Finite-lived intangible assets: Customer relationships 8.0 $ 66.2 $ (40.1 ) $ 26.1 Non-compete agreements 5.0 2.0 (1.9 ) 0.1 68.2 (42.0 ) 26.2 Indefinite-lived trade names 107.4 — 107.4 Total intangible assets, net $ 175.6 $ (42.0 ) $ 133.6 October 31, 2020 Weighted- Average Life Gross Accumulated Amortization Net Finite-lived intangible assets: Customer relationships 8.0 $ 66.2 $ (37.8 ) $ 28.4 Non-compete agreements 5.0 2.0 (1.7 ) 0.3 Trade names 7.0 1.3 (1.3 ) — 69.5 (40.8 ) 28.7 Indefinite-lived trade names 107.4 — 107.4 Total intangible assets, net $ 176.9 $ (40.8 ) $ 136.1

Long-Term Debt (Tables)

Long-Term Debt (Tables)	3 Months Ended
	Jan. 31, 2021
Debt Disclosure [Abstract]
Summary of Long-Term Debt	The Company was obligated under the following debt instruments: January 31, 2021 October 31, 2020 ABL facility $ 165.0 $ 175.0 Term Loan, net of debt issuance costs ($1.4 and $1.7) 167.1 167.2 332.1 342.2 Less: current maturities (1.7 ) (1.7 ) Long-term debt, less current maturities $ 330.4 $ 340.5

Warranties (Tables)

Warranties (Tables)	3 Months Ended
	Jan. 31, 2021
Guarantees [Abstract]
Schedule of Changes in Warranty Liability	Changes in the Company’s warranty liability consisted of the following: Three Months Ended January 31, 2021 2020 Balance at beginning of period $ 37.0 $ 22.6 Warranty provisions 8.3 5.6 Settlements made (8.6 ) (7.6 ) Warranties for prior year acquisition 1.2 — Balance at end of period $ 37.9 $ 20.6
Accrued Warranty Classified in Condensed Unaudited Consolidated Balance Sheets	Accrued warranty is classified in the Company’s Condensed Unaudited Consolidated Balance Sheets as follows: January 31, 2021 October 31, 2020 Current liabilities $ 22.3 $ 24.1 Other long-term liabilities 15.6 12.9 Total warranty liability $ 37.9 $ 37.0

Earnings Per Share (Tables)

Earnings Per Share (Tables)	3 Months Ended
	Jan. 31, 2021
Earnings Per Share [Abstract]
Reconciliation of Basic Weighted-Average Common Shares Outstanding to Diluted Weighted-Average Shares Outstanding	The table below reconciles basic weighted-average common shares outstanding to diluted weighted-average shares outstanding for the three months ended January 31, 2021 and January 31, 2020: Three Months Ended January 31, 2021 2020 Basic weighted-average common shares outstanding 63,445,973 62,783,080 Dilutive stock options — — Dilutive restricted stock awards — — Dilutive restricted stock units — — Dilutive performance stock units — — Diluted weighted-average common shares outstanding 63,445,973 62,783,080
Exclusions from Calculation of Weighted-Average Shares Outstanding Assuming Dilution Due to Anti-Dilutive Effect of Common Stock Equivalents	The table below represents exclusions from the calculation of weighted-average shares outstanding assuming dilution due to the anti-dilutive effect of the common stock equivalents for the three months ended January 31, 2021 and January 31, 2020: Three Months Ended January 31, 2021 2020 Anti-dilutive stock options 266,800 779,600 Anti-dilutive restricted stock awards 1,117,553 — Anti-dilutive restricted stock units 791,857 2,447,696 Anti-dilutive performance stock units 763,326 — Anti-dilutive common stock equivalents 2,939,536 3,227,296

Commitments and Contingencies (

Commitments and Contingencies (Tables)	3 Months Ended
	Jan. 31, 2021
Commitments And Contingencies Disclosure [Abstract]
Schedule of Contingent Liabilities	The Company is contingently liable under bid, performance and specialty bonds and has open standby letters of credit issued by the Company’s banks in favor of third parties as follows: January 31, 2021 October 31, 2020 Performance, bid and specialty bonds $ 382.9 $ 328.6 Open standby letters of credit 21.3 11.0 Total $ 404.2 $ 339.6

Business Segment Information (T

Business Segment Information (Tables)	3 Months Ended
	Jan. 31, 2021
Segment Reporting [Abstract]
Selected Financial Information of Segments	Selected financial information of the Company’s segments is as follows: Three Months Ended January 31, 2021 Fire & Emergency Commercial Recreation Corporate, Other & Elims Consolidated Net sales $ 280.6 $ 83.1 $ 190.2 $ 0.1 $ 554.0 Depreciation and amortization $ 3.1 $ 0.7 $ 3.6 $ 1.2 $ 8.6 Capital expenditures $ 1.3 $ 0.8 $ 0.4 $ 0.4 $ 2.9 Total assets $ 692.0 $ 205.7 $ 319.1 $ 42.3 $ 1,259.1 Adjusted EBITDA $ 10.2 $ 7.1 $ 15.1 $ (9.2 ) Three Months Ended January 31, 2020 Fire & Emergency Commercial Recreation Corporate, Other & Elims Consolidated Net sales $ 206.5 $ 158.2 $ 166.8 $ 0.6 $ 532.1 Depreciation and amortization $ 3.5 $ 1.9 $ 3.5 $ 1.9 $ 10.8 Capital expenditures $ 1.7 $ 0.6 $ 0.8 $ 0.1 $ 3.2 Total assets $ 632.0 $ 272.8 $ 330.3 $ 170.9 $ 1,406.0 Adjusted EBITDA $ 1.7 $ 10.8 $ 7.0 $ (8.2 )
Reconciliation of Segment Adjusted EBITDA to Net (Loss) Income	Provided below is a reconciliation of segment Adjusted EBITDA to net income (loss): Three Months Ended January 31, 2021 2020 Fire & Emergency Adjusted EBITDA $ 10.2 $ 1.7 Commercial Adjusted EBITDA 7.1 10.8 Recreation Adjusted EBITDA 15.1 7.0 Corporate and Other Adjusted EBITDA (9.2 ) (8.2 ) Depreciation and amortization (8.6 ) (10.8 ) Interest expense, net (5.5 ) (7.3 ) Benefit for income taxes — 2.6 Transaction expenses (2.3 ) (1.1 ) Sponsor expense reimbursement (0.2 ) (0.1 ) Restructuring costs (1.0 ) (0.6 ) Stock-based compensation expense (1.9 ) (2.6 ) Legal matters (0.4 ) (0.1 ) Net loss on sale of assets and business held for sale (2.7 ) — Loss on acquisition of business (0.4 ) — Losses attributable to assets held for sale (0.2 ) (0.6 ) Deferred purchase price payment — (0.1 ) Net income (loss) $ — $ (9.4 )

Basis of Presentation - Additio

Basis of Presentation - Additional Information (Detail) - USD ($) $ in Millions	Jan. 31, 2021	Jan. 31, 2021	Jan. 31, 2020
Primary Equity Holder [Member]
Organization Consolidation And Presentation Of Financial Statements [Line Items]
Selling, general and administrative expenses charged by primary equity holder		$ 0.2	$ 0.1
Management [Member]
Organization Consolidation And Presentation Of Financial Statements [Line Items]
Rent expense		$ 0.1	$ 0.5
American Industrial Partners [Member]
Organization Consolidation And Presentation Of Financial Statements [Line Items]
Equity interest held by operating partnership, voting equity	52.40%

Revenue Recognition - Additiona

Revenue Recognition - Additional Information (Detail) - USD ($) $ in Millions	3 Months Ended		12 Months Ended
	Jan. 31, 2021	Jan. 31, 2020	Oct. 31, 2020	Oct. 31, 2019
Revenue From Contract With Customer [Abstract]
Revenue recognized included in customer advances	$ 51.4	$ 54.4	$ 170.1	$ 129.9

Leases - Additional Information

Leases - Additional Information (Detail) - USD ($) $ in Millions	3 Months Ended
	Jan. 31, 2021	Jan. 31, 2020
Leases [Abstract]
Operating Lease, Cost	$ 2.3	$ 2.3
Operating Lease, Payments	$ 2.4	$ 2.2
Weighted average remaining lease term for operating leases	4 years 4 months 24 days	3 years 3 months 18 days
Weighted average discount rate for operating leases	5.00%	5.10%

Leases - Schedule of Future Min

Leases - Schedule of Future Minimum Operating Lease Payments Due Under ASC 842 (Detail) $ in Millions	Jan. 31, 2021USD ($)
Leases [Abstract]
Remaining nine months of fiscal year 2021	$ 6.9
2022	7.7
2023	4.8
2024	2.8
2025	1
Thereafter	2.4
Total undiscounted lease payments	25.6
Less: imputed interest	(2.5)
Total lease liabilities	23.1
Less: lease liabilities held for sale	(2)
Total lease liabilities excluding held for sale	$ 21.1

Acquisition - Additional Inform

Acquisition - Additional Information (Detail) - Spartan Emergency Response [Member] - USD ($) $ in Millions	Feb. 01, 2020	Jan. 31, 2021	Oct. 31, 2020
Business Acquisition [Line Items]
Business acquisition, purchase price	$ 54.8
Adjusted purchase price consideration	47.3		$ 47.3
Cash acquired from acquisition			7.5
Business combination bargain purchase gain recognized decrease amount		$ 0.4
Gain on acquisition of business	$ 8.2	$ 8.2	$ 8.6

Acquisition - Schedule of Final

Acquisition - Schedule of Final Fair Values of Assets Acquired and Liabilities Assumed (Detail) - Spartan Emergency Response [Member] - USD ($) $ in Millions	Feb. 01, 2020	Jan. 31, 2021	Oct. 31, 2020
Assets:
Accounts receivable, net	$ 22.9
Inventories, net	83.2
Other current assets	0.7
Property, plant and equipment	13.4
Right of use assets	6
Total assets acquired	126.2
Liabilities:
Accounts payable	5.3
Customer advances	35.3
Accrued warranty	2.1
Other current liabilities	7.8
Short-term lease obligations	0.8
Deferred income taxes	2.7
Long-term lease obligations	5.4
Other long-term liabilities	11.3
Total liabilities assumed	70.7
Net assets acquired	55.5
Adjusted purchase price consideration	47.3		$ 47.3
Gain on acquisition of business	$ (8.2)	$ (8.2)	$ (8.6)

Inventories - Schedule of Inven

Inventories - Schedule of Inventories (Detail) - USD ($) $ in Millions	Jan. 31, 2021	Oct. 31, 2020
Inventory Disclosure [Abstract]
Chassis	$ 67	$ 61.1
Raw materials	191.9	193.2
Work in process	228.2	230.3
Finished products	63.6	72.4
Inventory, Gross, Total	550.7	557
Less: reserves	(17.5)	(19.8)
Total inventories, net	$ 533.2	$ 537.2

Property, Plant and Equipment -

Property, Plant and Equipment - Summary of Property, Plant and Equipment (Detail) - USD ($) $ in Millions	Jan. 31, 2021	Oct. 31, 2020
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	$ 283.8	$ 291.7
Less: accumulated depreciation	(127.9)	(123.3)
Total property, plant and equipment, net	155.9	168.4
Land and Land Improvements [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	19.5	27
Building and Improvements [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	103.9	103.9
Machinery and Equipment [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	95.1	95.2
Rental and Used Vehicles [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	4.1	4.9
Computer Hardware and Software [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	51	47.5
Office Furniture and Fixtures [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	4.9	5.1
Construction in Progress [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	$ 5.3	$ 8.1

Property, Plant and Equipment_2

Property, Plant and Equipment - Additional Information (Detail) - USD ($) $ in Millions	3 Months Ended
	Jan. 31, 2021	Jan. 31, 2020
Property Plant And Equipment [Abstract]
Depreciation expense	$ 6.1	$ 6.8

Goodwill and Intangible Asset_2

Goodwill and Intangible Assets - Summary of Goodwill by Segment (Detail) - USD ($) $ in Millions	Jan. 31, 2021	Oct. 31, 2020	Jan. 31, 2020	Oct. 31, 2019
Goodwill [Line Items]
Goodwill	$ 157.3	$ 157.3	$ 159.8	$ 159.8
Fire & Emergency [Member]
Goodwill [Line Items]
Goodwill	88.6	88.6
Commercial [Member]
Goodwill [Line Items]
Goodwill	26.2	26.2
Recreation [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	Jan. 31, 2021	Oct. 31, 2020	Jan. 31, 2020
Goodwill And Intangible Assets Disclosure [Abstract]
Balance at beginning of period	$ 157.3	$ 159.8	$ 159.8
Balance at end of period	$ 157.3	$ 157.3	$ 159.8

Goodwill and Intangible Asset_4

Goodwill and Intangible Assets - Summary of Intangible Assets Excluding Goodwill (Detail) - USD ($) $ in Millions	3 Months Ended	12 Months Ended
	Jan. 31, 2021	Oct. 31, 2020
Intangible Assets Excluding Goodwill [Line Items]
Finite-lived intangible assets, gross	$ 68.2	$ 69.5
Finite-lived intangible assets, accumulated amortization	(42)	(40.8)
Finite-lived intangible assets, net	26.2	28.7
Indefinite-lived trade names	107.4	107.4
Total intangible assets, gross	175.6	176.9
Total intangible assets, net	$ 133.6	$ 136.1
Customer Relationships [Member]
Intangible Assets Excluding Goodwill [Line Items]
Finite-lived intangible assets, Weighted-Average Life	8 years	8 years
Finite-lived intangible assets, gross	$ 66.2	$ 66.2
Finite-lived intangible assets, accumulated amortization	(40.1)	(37.8)
Finite-lived intangible assets, net	$ 26.1	$ 28.4
Non-compete Agreements [Member]
Intangible Assets Excluding Goodwill [Line Items]
Finite-lived intangible assets, Weighted-Average Life	5 years	5 years
Finite-lived intangible assets, gross	$ 2	$ 2
Finite-lived intangible assets, accumulated amortization	(1.9)	(1.7)
Finite-lived intangible assets, net	$ 0.1	$ 0.3
Trade Names [Member]
Intangible Assets Excluding Goodwill [Line Items]
Finite-lived intangible assets, Weighted-Average Life		7 years
Finite-lived intangible assets, gross		$ 1.3
Finite-lived intangible assets, accumulated amortization		$ (1.3)

Goodwill and Intangible Asset_5

Goodwill and Intangible Assets - Additional Information (Detail) - USD ($) $ in Millions	3 Months Ended
	Jan. 31, 2021	Jan. 31, 2020
Goodwill And Intangible Assets Disclosure [Abstract]
Amortization expense	$ 2.5	$ 4

Divestiture Activities - Additi

Divestiture Activities - Additional Information (Detail) - USD ($) $ in Millions	3 Months Ended
	Jan. 31, 2021	Jan. 31, 2020	Apr. 30, 2020
Income Statement Balance Sheet And Additional Disclosures By Disposal Groups Including Discontinued Operations [Line Items]
Net cash proceeds from sale of business		$ 1.1
Gain (loss) on sale of business	$ (3.8)
REV Brazil Segment [Member]
Income Statement Balance Sheet And Additional Disclosures By Disposal Groups Including Discontinued Operations [Line Items]
Net cash proceeds from sale of business		$ 1.1
Expected proceeds to be received from divestiture of businesses next three months			$ 0.9
Gain (loss) on sale of business	(3.8)
Property, plant and equipment, net	0.9
Inventories, net	1.8
Accounts receivable, net	5.6
Other current and long-term assets	1.4
Accounts payable	4.8
Other current and long-term liabilities	$ 4.5

Long-Term Debt - Summary of Lon

Long-Term Debt - Summary of Long-Term Debt (Detail) - USD ($) $ in Millions	Jan. 31, 2021	Oct. 31, 2020
Debt Instruments [Abstract]
ABL facility	$ 165	$ 175
Term Loan, net of debt issuance costs ($1.4 and $1.7)	167.1	167.2
Long term debt including current maturities	332.1	342.2
Less: current maturities	(1.7)	(1.7)
Long-term debt, less current maturities	$ 330.4	$ 340.5

Long-Term Debt - Summary of L_2

Long-Term Debt - Summary of Long-Term Debt (Parenthetical) (Detail) - USD ($) $ in Millions	Jan. 31, 2021	Oct. 31, 2020
Term Loan [Member]
Debt Instrument [Line Items]
Debt issuance costs	$ 1.4	$ 1.7

Long-Term Debt - Additional Inf

Long-Term Debt - Additional Information (Detail) - USD ($) $ in Millions	Apr. 25, 2017	Jan. 31, 2021	Jul. 31, 2020	Jan. 31, 2022
Debt Instrument [Line Items]
Secured leverage declined basis points			0.25%
Maximum [Member]
Debt Instrument [Line Items]
Secured leverage net ratio		5.25%
Maximum [Member] | Scenario, Forecast
Debt Instrument [Line Items]
Secured leverage net ratio				4.25%
April 2017 Asset Based Lending Facility [Member]
Debt Instrument [Line Items]
Maximum borrowing capacity		$ 500
Debt instrument maturity date		Apr. 25, 2022
Weighted-average interest rate		1.91%
Available current borrowing capacity		$ 230
April 2017 Asset Based Lending Facility [Member] | Maximum [Member]
Debt Instrument [Line Items]
Fixed charge coverage ratio		100.00%
April 2017 Asset Based Lending Facility [Member] | Minimum [Member]
Debt Instrument [Line Items]
Fixed charge coverage ratio		100.00%
April 2017 Asset Based Lending Facility [Member] | Base Rate [Member]
Debt Instrument [Line Items]
Debt instrument applicable interest rate margins		0.75%
April 2017 Asset Based Lending Facility [Member] | Eurodollar [Member]
Debt Instrument [Line Items]
Debt instrument applicable interest rate margins		1.75%
Required annual payment percentage		0.00%
April 2017 Asset Based Lending Facility [Member] | Swing Lines Loan [Member]
Debt Instrument [Line Items]
Maximum borrowing capacity		$ 30
April 2017 Asset Based Lending Facility [Member] | Letter of Credit [Member]
Debt Instrument [Line Items]
Maximum borrowing capacity		$ 35
Term Loan [Member]
Debt Instrument [Line Items]
Debt instrument maturity date		Apr. 25, 2022
Required annual payment percentage		0.25%
Weighted-average interest rate		5.25%
Debt principal amount	$ 175
Term Loan [Member] | Base Rate [Member]
Debt Instrument [Line Items]
Debt instrument applicable interest rate margins	3.25%
Debt instrument frequency of payment			quarterly
Term Loan [Member] | Eurodollar [Member]
Debt Instrument [Line Items]
Debt instrument applicable interest rate margins	4.25%
Debt instrument , floor interest rate	1.00%
Debt instrument frequency of payment			monthly or quarterly

Warranties - Schedule of Change

Warranties - Schedule of Changes in Warranty Liability (Detail) - USD ($) $ in Millions	3 Months Ended
	Jan. 31, 2021	Jan. 31, 2020
Guarantees [Abstract]
Balance at beginning of period	$ 37	$ 22.6
Warranty provisions	8.3	5.6
Settlements made	(8.6)	(7.6)
Warranties for prior year acquisition	1.2
Balance at end of period	$ 37.9	$ 20.6

Warranties - Accrued Warranty C

Warranties - Accrued Warranty Classified in Condensed Unaudited Consolidated Balance Sheets (Detail) - USD ($) $ in Millions	Jan. 31, 2021	Oct. 31, 2020	Jan. 31, 2020	Oct. 31, 2019
Guarantees [Abstract]
Current liabilities	$ 22.3	$ 24.1
Other long-term liabilities	15.6	12.9
Total warranty liability	$ 37.9	$ 37	$ 20.6	$ 22.6

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
	Jan. 31, 2021	Jan. 31, 2020
Earnings Per Share [Abstract]
Basic weighted-average common shares outstanding	63,445,973	62,783,080
Dilutive stock options	0	0
Dilutive restricted stock awards	0	0
Dilutive restricted stock units	0	0
Dilutive performance stock units	0	0
Diluted weighted-average common shares outstanding	63,445,973	62,783,080

Earnings Per Share - Exclusions

Earnings Per Share - Exclusions from Calculation of Weighted-Average Shares Outstanding Assuming Dilution Due to Anti-Dilutive Effect of Common Stock Equivalents (Detail) - shares	3 Months Ended
	Jan. 31, 2021	Jan. 31, 2020
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Anti-dilutive common stock equivalents	2,939,536	3,227,296
Stock Options [Member]
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Anti-dilutive common stock equivalents	266,800	779,600
Restricted Stock Awards [Member]
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Anti-dilutive common stock equivalents	1,117,553	0
Restricted Stock Units [Member]
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Anti-dilutive common stock equivalents	791,857	2,447,696
Performance Stock Units [Member]
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Anti-dilutive common stock equivalents	763,326	0

Income Taxes - Additional Infor

Income Taxes - Additional Information (Detail) - USD ($) $ in Millions	3 Months Ended
	Jan. 31, 2021	Jan. 31, 2020	Oct. 31, 2020
Income Tax Disclosure [Abstract]
Income tax expense (benefit)	$ 0	$ (2.6)
Pre-tax (income) loss		(22.00%)
Net discrete tax expense (benefit) related to share-based compensation		$ 0.2
Unrecognized tax benefits	$ 3.1		$ 3.1

Commitments and Contingencies -

Commitments and Contingencies - Schedule of Contingent Liabilities (Detail) - USD ($) $ in Millions	Jan. 31, 2021	Oct. 31, 2020
Commitments And Contingencies Disclosure [Abstract]
Performance, bid and specialty bonds	$ 382.9	$ 328.6
Open standby letters of credit	21.3	11
Total	$ 404.2	$ 339.6

Commitments and Contingencies_2

Commitments and Contingencies - Additional Information (Detail) - USD ($)	3 Months Ended	12 Months Ended
	Jan. 31, 2021	Oct. 31, 2020
Loss Contingencies [Line Items]
Contingent liability under purchase agreements for future chassis inventory purchases	$ 32,700,000	$ 40,400,000
Repurchase agreement	2 years
Represents the gross value of all vehicles under repurchase agreements	$ 197,000,000	191,500,000
Maximum [Member]
Loss Contingencies [Line Items]
Estimated loss exposure under contract	$ 19,300,000	$ 21,100,000

Business Segment Information -

Business Segment Information - Additional Information (Detail)	3 Months Ended
	Jan. 31, 2021Segment
Segment Reporting [Abstract]
Number of reportable segments	3

Business Segment Information _2

Business Segment Information - Schedule of Selected Financial Information (Detail) - USD ($) $ in Millions	3 Months Ended
	Jan. 31, 2021	Jan. 31, 2020	Oct. 31, 2020
Segment Reporting Information [Line Items]
Net sales	$ 554	$ 532.1
Depreciation and amortization	8.6	10.8
Capital expenditures	2.9	3.2
Total assets	1,259.1	1,406	$ 1,312.3
Operating Segment [Member] | Fire & Emergency [Member]
Segment Reporting Information [Line Items]
Net sales	280.6	206.5
Depreciation and amortization	3.1	3.5
Capital expenditures	1.3	1.7
Total assets	692	632
Adjusted EBITDA	10.2	1.7
Operating Segment [Member] | Commercial [Member]
Segment Reporting Information [Line Items]
Net sales	83.1	158.2
Depreciation and amortization	0.7	1.9
Capital expenditures	0.8	0.6
Total assets	205.7	272.8
Adjusted EBITDA	7.1	10.8
Operating Segment [Member] | Recreation [Member]
Segment Reporting Information [Line Items]
Net sales	190.2	166.8
Depreciation and amortization	3.6	3.5
Capital expenditures	0.4	0.8
Total assets	319.1	330.3
Adjusted EBITDA	15.1	7
Corporate, Other and Elims [Member]
Segment Reporting Information [Line Items]
Net sales	0.1	0.6
Depreciation and amortization	1.2	1.9
Capital expenditures	0.4	0.1
Total assets	42.3	170.9
Adjusted EBITDA	$ (9.2)	$ (8.2)

Business Segment Information _3

Business Segment Information - Reconciliation of Segment Adjusted EBITDA to Net (Loss) Income (Detail) - USD ($) $ in Millions	3 Months Ended
	Jan. 31, 2021	Jan. 31, 2020
Segment Reporting Information [Line Items]
Interest expense, net	$ (5.5)	$ (7.3)
Benefit for income taxes	0	2.6
Restructuring costs	(1)	(0.6)
Stock-based compensation expense	(1.9)	(2.6)
Gain (loss) on sale of business	(3.8)
Net income (loss)		(9.4)
Corporate and Other [Member]
Segment Reporting Information [Line Items]
Adjusted EBITDA	(9.2)	(8.2)
Operating Segment [Member] | Fire & Emergency [Member]
Segment Reporting Information [Line Items]
Adjusted EBITDA	10.2	1.7
Operating Segment [Member] | Commercial [Member]
Segment Reporting Information [Line Items]
Adjusted EBITDA	7.1	10.8
Operating Segment [Member] | Recreation [Member]
Segment Reporting Information [Line Items]
Adjusted EBITDA	15.1	7
Reconciling Items [Member]
Segment Reporting Information [Line Items]
Depreciation and amortization	(8.6)	(10.8)
Interest expense, net	(5.5)	(7.3)
Benefit for income taxes		2.6
Transaction expenses	(2.3)	(1.1)
Sponsor expense reimbursement	(0.2)	(0.1)
Restructuring costs	(1)	(0.6)
Stock-based compensation expense	(1.9)	(2.6)
Legal matters	(0.4)	(0.1)
Gain (loss) on sale of business	(2.7)
Loss on acquisition of business	(0.4)
Losses attributable to assets held for sale	$ (0.2)	(0.6)
Deferred purchase price payment		$ (0.1)