The Shyft Group, Inc. (SHYF) 10-Q 26 Oct 23 2023 Q3 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	9 Months Ended
	Sep. 30, 2023	Oct. 20, 2023
Document Information [Line Items]
Entity Central Index Key	0000743238
Entity Registrant Name	SHYFT GROUP, INC.
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Document Fiscal Period Focus	Q3
Document Fiscal Year Focus	2023
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 30, 2023
Document Transition Report	false
Entity File Number	001-33582
Entity Incorporation, State or Country Code	MI
Entity Tax Identification Number	38-2078923
Entity Address, Address Line One	41280 Bridge Street
Entity Address, City or Town	Novi
Entity Address, State or Province	MI
Entity Address, Postal Zip Code	48375
City Area Code	517
Local Phone Number	543-6400
Title of 12(b) Security	Common Stock
Trading Symbol	SHYF
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		34,289,839

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets (Current Period Unaudited) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Current assets:
Cash and cash equivalents	$ 9,876	$ 11,548
Accounts receivable, less allowance of $290 and $246	91,536	115,742
Contract assets	48,469	86,993
Inventories	115,200	100,161
Other receivables – chassis pool agreements	29,285	19,544
Other current assets	5,350	11,779
Total current assets	299,716	345,767
Property, plant and equipment, net	79,437	70,753
Right of use assets – operating leases	47,669	53,386
Goodwill	48,880	48,880
Intangible assets, net	46,221	49,078
Net deferred tax assets	11,004	10,390
Other assets	2,534	2,227
TOTAL ASSETS	535,461	580,481
Current liabilities:
Accounts payable	99,299	124,309
Accrued warranty	6,317	7,161
Accrued compensation and related taxes	16,127	14,434
Contract liabilities	6,233	5,255
Operating lease liability	10,884	10,888
Other current liabilities and accrued expenses	7,597	19,452
Short-term debt – chassis pool agreements	29,285	19,544
Current portion of long-term debt	203	189
Total current liabilities	175,945	201,232
Other non-current liabilities	10,105	10,033
Long-term operating lease liability	38,491	44,256
Long-term debt, less current portion	55,181	56,266
Total liabilities	279,722	311,787
Commitments and contingent liabilities
Shareholders' equity:
Preferred stock, no par value: 2,000 shares authorized (none issued)	0	0
Common stock, no par value: 80,000 shares authorized; 34,289 and 35,066 outstanding	91,046	92,982
Retained earnings	164,624	175,611
Total Shyft Group, Inc. shareholders’ equity	255,670	268,593
Non-controlling interest	69	101
Total shareholders' equity	255,739	268,694
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY	$ 535,461	$ 580,481

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - USD ($) shares in Thousands, $ / shares in Thousands, $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Accounts receivable, allowance	$ 290	$ 246
Preferred stock, no par value (in dollars per share)	$ 0	$ 0
Preferred stock, authorized (in shares)	2,000	2,000
Preferred stock, issued (in shares)	0	0
Common stock, par value (in dollars per share)	$ 0	$ 0
Common stock, shares authorized (in shares)	80,000	80,000
Common stock, shares outstanding (in shares)	34,289	35,066

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations (Unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Sales	$ 201,325	$ 286,075	$ 669,865	$ 725,153
Cost of products sold	164,557	231,979	547,419	603,008
Gross profit	36,768	54,096	122,446	122,145
Operating expenses:
Research and development	5,225	7,051	18,064	19,541
Selling, general and administrative	27,419	25,033	89,978	78,445
Total operating expenses	32,644	32,084	108,042	97,986
Operating income	4,124	22,012	14,404	24,159
Other income (expense)
Interest expense	(1,572)	(1,137)	(4,697)	(1,754)
Other income (expense)	15	181	209	(342)
Total other expense	(1,557)	(956)	(4,488)	(2,096)
Income before income taxes	2,567	21,056	9,916	22,063
Income tax expense (benefit)	(1,951)	3,770	(965)	3,346
Net income (loss)	4,518	17,286	10,881	18,717
Less: net loss attributable to non-controlling interest	0	0	32	0
Net income attributable to The Shyft Group Inc.	$ 4,518	$ 17,286	$ 10,913	$ 18,717
Basic earnings per share (in dollars per share)	$ 0.13	$ 0.49	$ 0.31	$ 0.53
Diluted earnings per share (in dollars per share)	$ 0.13	$ 0.49	$ 0.31	$ 0.53
Basic weighted average common shares outstanding (in shares)	34,604	35,056	34,863	35,071
Diluted weighted average common shares outstanding (in shares)	34,637	35,365	34,985	35,481

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022
Cash flows from operating activities:
Net income (loss)	$ 10,881	$ 18,717
Adjustments to reconcile net income to net cash provided by (used in) operating activities:
Depreciation and amortization	12,360	10,055
Non-cash stock based compensation expense	5,187	4,922
Deferred income taxes	(614)	64
Loss on disposal of assets	132	481
Changes in accounts receivable and contract assets	62,730	(66,026)
Changes in inventories	(15,039)	(44,029)
Changes in accounts payable	(25,194)	24,708
Changes in accrued compensation and related taxes	1,693	(3,505)
Changes in accrued warranty	(844)	457
Change in other assets and liabilities	(6,474)	9,663
Net cash provided by (used in) operating activities	44,818	(44,493)
Cash flows from investing activities:
Purchases of property, plant and equipment	(16,143)	(14,228)
Proceeds from sale of property, plant and equipment	100	148
Acquisition of business, net of cash acquired	(500)	0
Net cash used in investing activities	(16,543)	(14,080)
Cash flows from financing activities:
Proceeds from long-term debt	100,000	120,000
Payments on long-term debt	(101,000)	(55,000)
Payment of dividends	(5,392)	(5,395)
Purchase and retirement of common stock	(19,083)	(26,789)
Exercise and vesting of stock incentive awards	(4,472)	(8,539)
Net cash provided by (used in) financing activities	(29,947)	24,277
Net decrease in cash and cash equivalents	(1,672)	(34,296)
Cash and cash equivalents at beginning of period	11,548	37,158
Cash and cash equivalents at end of period	$ 9,876	$ 2,862

Condensed Consolidated Statem_3

Condensed Consolidated Statement of Shareholders' Equity (Unaudited) - USD ($) shares in Thousands, $ in Thousands	Common Stock [Member]	Common Stock Including Additional Paid in Capital [Member]	Retained Earnings [Member]	Noncontrolling Interest [Member]	Total
Balance (in shares) at Dec. 31, 2021	35,416
Balance at Dec. 31, 2021		$ 95,375	$ 171,379	$ 101	$ 266,855
Issuance of common stock and tax impact of stock incentive plan (in shares)	3
Issuance of common stock and tax impact of stock incentive plan		(8,372)	0	0	(8,372)
Dividends declared		0	(1,794)	0	(1,794)
Purchase and retirement of common stock (in shares)	(607)
Purchase and retirement of common stock		(1,598)	(25,191)	0	(26,789)
Issuance of restricted stock, net of cancellation (in shares)	215
Issuance of restricted stock, net of cancellation		0	0	0	0
Non-cash stock based compensation expense		1,648	0	0	1,648
Net income (loss)		0	(3,852)	0	(3,852)
Balance (in shares) at Mar. 31, 2022	35,027
Balance at Mar. 31, 2022		87,053	140,542	101	227,696
Balance (in shares) at Dec. 31, 2021	35,416
Balance at Dec. 31, 2021		95,375	171,379	101	266,855
Net income (loss)					18,717
Balance (in shares) at Sep. 30, 2022	35,063
Balance at Sep. 30, 2022		90,160	159,537	101	249,798
Balance (in shares) at Mar. 31, 2022	35,027
Balance at Mar. 31, 2022		87,053	140,542	101	227,696
Issuance of common stock and tax impact of stock incentive plan (in shares)	3
Issuance of common stock and tax impact of stock incentive plan		(219)	0	0	(219)
Dividends declared		0	(1,784)	0	(1,784)
Issuance of restricted stock, net of cancellation (in shares)	33
Issuance of restricted stock, net of cancellation		0	0	0	0
Non-cash stock based compensation expense		2,060	0	0	2,060
Net income (loss)		0	5,283	0	5,283
Balance (in shares) at Jun. 30, 2022	35,063
Balance at Jun. 30, 2022		88,894	144,041	101	233,036
Issuance of common stock and tax impact of stock incentive plan (in shares)	6
Issuance of common stock and tax impact of stock incentive plan		52	0	0	52
Dividends declared		0	(1,790)	0	(1,790)
Issuance of restricted stock, net of cancellation (in shares)	(6)
Issuance of restricted stock, net of cancellation		0	0	0	0
Non-cash stock based compensation expense		1,214	0	0	1,214
Net income (loss)		0	17,286	0	17,286
Balance (in shares) at Sep. 30, 2022	35,063
Balance at Sep. 30, 2022		90,160	159,537	101	249,798
Balance (in shares) at Dec. 31, 2022	35,066
Balance at Dec. 31, 2022		92,982	175,611	101	268,694
Issuance of common stock and tax impact of stock incentive plan (in shares)	5
Issuance of common stock and tax impact of stock incentive plan		(4,656)	0	0	(4,656)
Dividends declared		0	(1,820)	0	(1,820)
Purchase and retirement of common stock (in shares)	(349)
Purchase and retirement of common stock		(893)	(7,872)	0	(8,765)
Issuance of restricted stock, net of cancellation (in shares)	193
Issuance of restricted stock, net of cancellation		0	0	0	0
Non-cash stock based compensation expense		1,827	0	0	1,827
Net income (loss)		0	1,710	(32)	1,678
Balance (in shares) at Mar. 31, 2023	34,915
Balance at Mar. 31, 2023		89,260	167,629	69	256,958
Balance (in shares) at Dec. 31, 2022	35,066
Balance at Dec. 31, 2022		92,982	175,611	101	268,694
Net income (loss)					10,881
Balance (in shares) at Sep. 30, 2023	34,289
Balance at Sep. 30, 2023		91,046	164,624	69	255,739
Balance (in shares) at Mar. 31, 2023	34,915
Balance at Mar. 31, 2023		89,260	167,629	69	256,958
Issuance of common stock and tax impact of stock incentive plan (in shares)	5
Issuance of common stock and tax impact of stock incentive plan		83	0	0	83
Dividends declared		0	(1,770)	0	(1,770)
Issuance of restricted stock, net of cancellation (in shares)	36
Issuance of restricted stock, net of cancellation		0	(21)	0	(21)
Non-cash stock based compensation expense		1,263	0	0	1,263
Net income (loss)		0	4,685	0	4,685
Balance (in shares) at Jun. 30, 2023	34,956
Balance at Jun. 30, 2023		90,606	170,523	69	261,198
Issuance of common stock and tax impact of stock incentive plan (in shares)	4
Issuance of common stock and tax impact of stock incentive plan		101	0	0	101
Dividends declared		0	(1,765)	0	(1,765)
Purchase and retirement of common stock (in shares)	(674)
Purchase and retirement of common stock		(1,758)	(8,652)	0	(10,410)
Issuance of restricted stock, net of cancellation (in shares)	3
Issuance of restricted stock, net of cancellation		0	0	0	0
Non-cash stock based compensation expense		2,097	0	0	2,097
Net income (loss)		0	4,518	0	4,518
Balance (in shares) at Sep. 30, 2023	34,289
Balance at Sep. 30, 2023		$ 91,046	$ 164,624	$ 69	$ 255,739

Condensed Consolidated Statem_4

Condensed Consolidated Statement of Shareholders' Equity (Unaudited) (Parentheticals) - $ / shares	3 Months Ended
	Sep. 30, 2023	Jun. 30, 2023	Mar. 31, 2023	Sep. 30, 2022	Jun. 30, 2022	Mar. 31, 2022
Dividends declared (in dollars per share)	$ 0.05	$ 0.05	$ 0.05	$ 0.05	$ 0.05	$ 0.05

Note 1 - Nature of Operations a

Note 1 - Nature of Operations and Basis of Presentation	9 Months Ended
	Sep. 30, 2023
Notes to Financial Statements
Business Description and Accounting Policies [Text Block]	NOTE 1 – N ATURE OF OPERATIONS AND BASIS OF PRESENTATION As used herein, the term “Company”, “we”, “us” or “our” refers to The Shyft Group, Inc. and its subsidiaries unless designated or identified otherwise. Nature of Operations We are a niche market leader in specialty vehicle manufacturing and assembly for the commercial vehicle (including last-mile delivery, specialty service and vocation-specific upfit segments) and recreational vehicle industries. Our products include walk-in vans and truck bodies used in e-commerce/parcel delivery, upfit equipment used in the mobile retail and utility trades, service and vocational truck bodies, luxury Class A diesel motorhome chassis and contract manufacturing and assembly services. We also supply replacement parts and offer repair, maintenance, field service and refurbishment services for the vehicles that we manufacture as well as truck accessories. The accompanying unaudited interim condensed consolidated financial statements reflect all normal and recurring adjustments that are necessary for the fair presentation of our financial position as of September 30, 2023, our results of operations for the three and nine months ended September 30, 2023 and our cash flows for the nine months ended September 30, 2023. These condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements and footnotes included in our Annual Report on Form 10-K for the year ended December 31, 2022 filed with the Securities and Exchange Commission on February 23, 2023. The results of operations for the three and nine months ended September 30, 2023, are not necessarily indicative of the results expected for the full year. For a description of key accounting policies followed, refer to the notes to The Shyft Group, Inc. consolidated financial statements for the year ended December 31, 2022, included in our Annual Report on Form 10-K. Supplemental Disclosures of Cash Flow Information Non-cash investing in the nine months ended September 30, 2023 and September 30, 2022 included $2,258 and $982 of capital expenditures, respectively. The Company has chassis pool agreements, where it participates in chassis converter pools that are non-cash arrangements and they are offsetting between current assets and current liabilities on the Company’s Consolidated Balance Sheets. See "Note 3 – Debt

Note 2 - Inventories

Note 2 - Inventories	9 Months Ended
	Sep. 30, 2023
Notes to Financial Statements
Inventory Disclosure [Text Block]	NOTE 2 – INVENTORIES Inventories are summarized as follows: September 30, 2023 December 31, 2022 Finished goods $ 20,706 $ 13,361 Work in process 8,878 5,200 Raw materials and purchased components 85,616 81,600 Total inventories $ 115,200 $ 100,161

Note 3 - Debt

Note 3 - Debt	9 Months Ended
	Sep. 30, 2023
Notes to Financial Statements
Debt Disclosure [Text Block]	NOTE 3 – DEBT Short-term debt consists of the following: September 30, 2023 December 31, 2022 Chassis pool agreements $ 29,285 $ 19,544 Total short-term debt $ 29,285 $ 19,544 Chassis Pool Agreements The Company obtains certain vehicle chassis for its walk-in vans, truck bodies and specialty vehicles directly from the chassis manufacturers under converter pool agreements. Chassis are obtained from the manufacturers based on orders from customers with receipt at our facilities dependent on manufacturer’s production schedules. The agreements generally state that the manufacturer will provide a supply of chassis to be maintained at the Company’s facilities with the condition that we will store such chassis and will not move, sell, or otherwise dispose of such chassis except under the terms of the agreement. In addition, the manufacturer typically retains the sole authority to authorize commencement of work on the chassis and to make certain other decisions with respect to the chassis including the terms and pricing of sales of the chassis to the manufacturer’s dealers. The manufacturer also does not transfer the certificate of origin to the Company nor permit the Company to sell or transfer the chassis to anyone other than the manufacturer (for ultimate resale to a dealer). Although the Company is party to related finance agreements with manufacturers, the Company has not historically settled related obligations in cash, except as required under our credit agreement. The obligation is usually settled by the manufacturer upon reassignment of the chassis to an accepted dealer, and the dealer is invoiced for the chassis by the manufacturer. The Company has included this financing agreement on the Company’s Condensed Consolidated Balance Sheets within Other receivables – chassis pool agreements Short-term debt – chassis pool agreements Long-term debt consists of the following: September 30, 2023 December 31, 2022 Line of credit revolver $ 55,000 $ 56,000 Finance lease obligation 384 455 Total debt 55,384 56,455 Less current portion of long-term debt (203 ) (189 ) Total long-term debt $ 55,181 $ 56,266 Revolving Credit Facility On November 30, 2021, we entered into an Amended and Restated Credit Agreement (the "Credit Agreement") by and among us and certain of our subsidiaries as borrowers, Wells Fargo Bank, N.A., as administrative agent, and the lenders party thereto consisting of Wells Fargo, N.A., JPMorgan Chase Bank, N.A., PNC Bank, N.A. and Bank of America, N.A. (the "Lenders"). Certain of our other subsidiaries have executed guaranties guarantying the borrowers' obligations under the Credit Agreement. On May 31, 2023, the Company amended the Credit Agreement to effectuate the transition of the underlying variable interest rate from LIBOR to the Secured Overnight Financing Rate ("SOFR"). Our interest expense is not expected to increase materially with this transition. Increased interest expense and/or disruption in the financial market could have a material adverse effect on our business, financial condition, or results of operations. Under the Credit Agreement, we may borrow up to $400,000 from the Lenders under a secured revolving credit facility which matures November 30, 2026. We may also request an increase in the facility of up to $200,000 in the aggregate, subject to customary conditions. The revolving credit facility is also available for the issuance of letters of credit of up to $20,000 and swing line loans of up to $10,000, subject to certain limitations and restrictions. The revolving credit facility carries an interest rate of either (i) the highest of prime rate, the federal funds effective rate from time to time plus 0.5%, or the one 1.0%; Under the terms of our Credit Agreement, available borrowings (exclusive of outstanding borrowings) totaled $177,546 and $187,162 at September 30, 2023 and December 31, 2022, respectively. The Credit Agreement requires us to maintain certain financial ratios and other financial covenants; prohibits us from incurring additional indebtedness; limits certain acquisitions, investments, advances or loans; limits our ability to pay dividends in certain circumstances; and restricts substantial asset sales, all subject to certain exceptions and baskets. At September 30, 2023 and December 31, 2022, we were in compliance with all covenants in our Credit Agreement.

Note 4 - Revenue

Note 4 - Revenue	9 Months Ended
	Sep. 30, 2023
Notes to Financial Statements
Revenue from Contract with Customer [Text Block]	NOTE 4 – REVENUE Changes in our contract assets and liabilities for the nine months ended September 30, 2023 and 2022 are summarized below: September 30, 2023 September 30, 2022 Contract Assets Contract assets, beginning of period $ 86,993 $ 21,483 Reclassification of the beginning contract assets to receivables, as the result of rights to consideration becoming unconditional (86,061 ) (21,482 ) Contract assets recognized, net of reclassification to receivables 47,537 87,098 Contract assets, end of period $ 48,469 $ 87,099 Contract Liabilities Contract liabilities, beginning of period $ 5,255 $ 988 Reclassification of the beginning contract liabilities to revenue, as the result of performance obligations satisfied (5,182 ) (988 ) Cash received in advance and not recognized as revenue 6,160 10,601 Contract liabilities, end of period $ 6,233 $ 10,601 The aggregate amount of the transaction price allocated to remaining performance obligations in existing contracts that are yet to be completed in the Fleet Vehicles and Services ("FVS") and Specialty Vehicles ("SV") segments are $383,448 and $80,983, respectively. In the following tables, revenue is disaggregated by primary geographical market and timing of revenue recognition. The tables also include a reconciliation of the disaggregated revenue within the reportable segments. Three Months Ended September 30, 2023 FVS SV Eliminations and Other Total Primary geographical markets United States $ 122,626 $ 76,603 $ 444 $ 199,673 Other 1,633 19 - 1,652 Total sales $ 124,259 $ 76,622 $ 444 $ 201,325 Timing of revenue recognition Products transferred at a point in time $ 15,768 $ 34,297 $ 467 $ 50,532 Products and services transferred over time 108,491 42,325 (23 ) 150,793 Total sales $ 124,259 $ 76,622 $ 444 $ 201,325 Three Months Ended September 30, 2022 FVS SV Eliminations and Other Total Primary geographical markets United States $ 183,409 $ 103,869 $ (2,335 ) $ 284,943 Other 1,085 47 - 1,132 Total sales $ 184,494 $ 103,916 $ (2,335 ) $ 286,075 Timing of revenue recognition Products transferred at a point in time $ 10,821 $ 58,729 $ - $ 69,550 Products and services transferred over time 173,673 45,187 (2,335 ) 216,525 Total sales $ 184,494 $ 103,916 $ (2,335 ) $ 286,075 Nine Months Ended September 30, 2023 FVS SV Eliminations and Other Total Primary geographical markets United States $ 401,117 $ 251,306 $ (4,180 ) $ 648,243 Other 21,558 64 - 21,622 Total sales $ 422,675 $ 251,370 $ (4,180 ) $ 669,865 Timing of revenue recognition Products transferred at a point in time $ 41,614 $ 109,977 $ 467 $ 152,058 Products and services transferred over time 381,061 141,393 (4,647 ) 517,807 Total sales $ 422,675 $ 251,370 $ (4,180 ) $ 669,865 Nine Months Ended September 30, 2022 FVS SV Eliminations and Other Total Primary geographical markets United States $ 428,606 $ 293,325 $ (2,335 ) $ 719,596 Other 5,482 75 - 5,557 Total sales $ 434,088 $ 293,400 $ (2,335 ) $ 725,153 Timing of revenue recognition Products transferred at a point in time $ 31,092 $ 163,068 $ - $ 194,160 Products and services transferred over time 402,996 130,332 (2,335 ) 530,993 Total sales $ 434,088 $ 293,400 $ (2,335 ) $ 725,153

Note 5 - Property, Plant and Eq

Note 5 - Property, Plant and Equipment	9 Months Ended
	Sep. 30, 2023
Notes to Financial Statements
Property, Plant and Equipment Disclosure [Text Block]	NOTE 5 – PROPERTY, PLANT AND EQUIPMENT Property, plant and equipment are summarized by major classifications as follows: September 30, 2023 December 31, 2022 Land and improvements $ 12,178 $ 12,314 Buildings and improvements 49,051 42,827 Plant machinery and equipment 58,427 55,969 Furniture and fixtures 19,777 18,334 Vehicles 2,019 2,083 Construction in process 11,167 9,946 Subtotal 152,619 141,473 Accumulated depreciation (73,182 ) (70,720 ) Total property, plant and equipment, net $ 79,437 $ 70,753 We recorded depreciation expense of $3,358 and $2,404 during the three months ended September 30, 2023 and 2022, respectively, and $9,503 and $7,155 during the nine months ended September 30, 2023 and 2022, respectively.

Note 6 - Leases

Note 6 - Leases	9 Months Ended
	Sep. 30, 2023
Notes to Financial Statements
Lessee, Operating Leases and Finance Leases [Text Block]	NOTE 6 – LEASES We have operating and finance leases for land, buildings and certain equipment. Our leases have remaining lease terms of one Debt Operating lease expenses are classified as Cost of products sold and Operating expenses on the Condensed Consolidated Statements of Operations. The components of lease expense were as follows: Three Months Ended Nine Months Ended September 30, September 30, 2023 2022 2023 2022 Operating leases $ 2,808 $ 2,683 $ 8,755 $ 7,492 Short-term leases(1) 373 87 995 144 Total lease expense $ 3,181 $ 2,770 $ 9,750 $ 7,636 (1) The weighted average remaining lease term and weighted average discount rate were as follows: September 30, 2023 2022 Weighted average remaining lease term of operating leases (in years) 7.3 8.2 Weighted average discount rate of operating leases 2.9 % 2.7 % Nine Months Ended September 30, 2023 2022 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flow for operating leases $ 8,312 $ 6,874 Right of use assets obtained in exchange for lease obligations: Operating leases $ 10,208 $ 16,367 Finance leases $ 89 $ 202 Maturities of operating lease liabilities as of September 30, 2023 are as follows: Years ending December 31: 2023 (1) $ 2,693 2024 10,292 2025 9,782 2026 7,605 2027 5,268 Thereafter 18,505 Total lease payments 54,145 Imputed interest (4,770 ) Total lease liabilities $ 49,375 (1)

Note 7 - Commitments and Contin

Note 7 - Commitments and Contingent Liabilities	9 Months Ended
	Sep. 30, 2023
Notes to Financial Statements
Commitments and Contingencies Disclosure [Text Block]	NOTE 7 – COMMITMENTS AND CONTINGENT LIABILITIES At September 30, 2023, we and our subsidiaries were parties, both as plaintiff and defendant, to a number of lawsuits and claims arising out of the normal course of our businesses. In the opinion of management, our financial position, future operating results or cash flows will not be materially affected by the final outcome of these legal proceedings. Warranty Related We provide limited warranties against assembly/construction defects. These warranties generally provide for the replacement or repair of defective parts or workmanship for a specified period following the date of sale. The end users also may receive limited warranties from suppliers of components that are incorporated into our chassis and vehicles. Certain warranty and other related claims involve matters of dispute that ultimately are resolved by negotiation, arbitration or litigation. Infrequently, a material warranty issue can arise which is beyond the scope of our historical experience. We provide for any such warranty issues as they become known and are estimable. It is reasonably possible that additional warranty and other related claims could arise from disputes or other matters beyond the scope of our historical experience. An estimate of possible penalty or loss, if any, cannot be made at this time. Changes in our warranty liability are summarized below: Nine Months Ended September 30, 2023 2022 Balance of accrued warranty at January 1 $ 7,161 $ 5,975 Provisions for current period sales 3,023 3,597 Changes in liability for pre-existing warranties (1,044 ) 430 Cash settlements (2,823 ) (3,570 ) Balance of accrued warranty at September 30 $ 6,317 $ 6,432 Legal Proceedings Relating to Environmental Matters As previously disclosed, in May 2020, the Company received an information request from the United States Environmental Protection Agency (“EPA”) requesting certain information regarding emissions labels on chassis, vocational vehicles, and vehicles that the Company manufactured or imported into the U.S. between January 1, 2017 to the date the Company received the request in May 2020. The Company responded to the EPA’s request and furnished the requested materials in the third quarter of 2020. On April 6, 2022, the Company received a Notice of Violation from the EPA alleging a failure to secure certain certifications on manufactured chassis and a failure to comply with recordkeeping and reporting requirements related to supplier-provided chassis. The Company continues to investigate this matter, including potential defenses, and will continue discussions with the EPA regarding the allegations. At this time, it is not possible to estimate the potential fines or penalties that the Company may incur (if any) for this matter.

Note 8 - Taxes on Income

Note 8 - Taxes on Income	9 Months Ended
	Sep. 30, 2023
Notes to Financial Statements
Income Tax Disclosure [Text Block]	NOTE 8 – TAXES ON INCOME Our effective income tax rate was a benefit of 76.0% and an expense of 17.9% for the three months ended September 30, 2023 and 2022, respectively. These rates differ from the U.S. statutory tax rate of 21.0% primarily due to non-deductible executive compensation offset by the benefit of research credits and a discrete tax benefit in 2023 related to the 2022 tax return-to-provision adjustment for the research credit. Our effective income tax rate was a benefit of 9.7% and an expense of 15.2% for the nine months ended September 30, 2023 and 2022, respectively. These rates differ from the U.S. statutory tax rate of 21.0% primarily due to non-deductible executive compensation offset by the benefit of research credits and a discrete tax benefit in 2023 related to the 2022 tax return-to-provision adjustment for the research credit.

Note 9 - Business Segments

Note 9 - Business Segments	9 Months Ended
	Sep. 30, 2023
Notes to Financial Statements
Segment Reporting Disclosure [Text Block]	NOTE 9 – BUSINESS SEGMENTS We identify our reportable segments based on our management structure and the financial data utilized by our chief operating decision maker to assess segment performance and allocate resources among our operating units. We have two We evaluate the performance of our reportable segments based on Adjusted EBITDA (earnings before interest, taxes, depreciation and amortization) and it is calculated by excluding items that we believe to be infrequent or not indicative of our underlying operating performance, as well as certain non-cash expenses. We define Adjusted EBITDA as income before interest, income taxes, depreciation and amortization, as adjusted to eliminate the impact of restructuring charges, acquisition related expenses and adjustments, non-cash stock-based compensation expenses, and other gains and losses not reflective of our ongoing operations. Our FVS segment manufactures commercial vehicles used in the last mile/parcel delivery, beverage and grocery delivery, laundry and linen, mobile retail, and trades industries. Our commercial vehicles are marketed under the Utilimaster brand name, which serves a diverse customer base and sells aftermarket parts and accessories for walk-in vans and other delivery vehicles. We also provide vocation-specific equipment upfit services. Our SV segment includes our Spartan RV chassis operations, Builtmore Contract Manufacturing operations, Royal Truck Body and DuraMag service body operations, vocation-specific equipment upfit services marketed under the Strobes-R-Us brand, and distribution of related aftermarket parts and accessories. The accounting policies of the segments are the same as those described, or referred to, in “Note 1 – Nature of Operations and Basis of Presentation. Three Months Ended September 30, 2023 Segment FVS SV Eliminations and Other Consolidated Fleet vehicle sales $ 108,491 $ - $ - $ 108,491 Motorhome chassis sales - 20,519 - 20,519 Other specialty vehicle sales - 50,557 444 51,001 Aftermarket parts and accessories sales 15,768 5,546 - 21,314 Total sales $ 124,259 $ 76,622 $ 444 $ 201,325 Depreciation and amortization expense $ 1,700 $ 1,659 $ 951 $ 4,310 Adjusted EBITDA 7,977 15,988 (12,977 ) 10,988 Segment assets 254,729 219,204 61,528 535,461 Capital expenditures 750 1,006 3,697 5,453 Three Months Ended September 30, 2022 Segment FVS SV Eliminations and Other Consolidated Fleet vehicle sales $ 173,673 $ - $ - $ 173,673 Motorhome chassis sales - 50,399 - 50,399 Other specialty vehicle sales - 48,570 (2,335 ) 46,235 Aftermarket parts and accessories sales 10,821 4,947 - 15,768 Total sales $ 184,494 $ 103,916 $ (2,335 ) $ 286,075 Depreciation and amortization expense $ 1,144 $ 1,692 $ 523 $ 3,359 Adjusted EBITDA 24,361 15,550 (12,849 ) 27,062 Segment assets 281,510 231,185 39,004 551,699 Capital expenditures 2,791 220 195 3,206 Nine Months Ended September 30, 2023 Segment FVS SV Eliminations and Other Consolidated Fleet vehicle sales $ 381,061 $ - $ - $ 381,061 Motorhome chassis sales - 78,578 - 78,578 Other specialty vehicle sales - 156,906 (4,180 ) 152,726 Aftermarket parts and accessories sales 41,614 15,886 - 57,500 Total sales $ 422,675 $ 251,370 $ (4,180 ) $ 669,865 Depreciation and amortization expense $ 4,679 $ 5,038 $ 2,643 $ 12,360 Adjusted EBITDA 32,918 47,207 (42,482 ) 37,643 Segment assets 254,729 219,204 61,528 535,461 Capital expenditures 4,317 2,185 11,132 17,634 Nine Months Ended September 30, 2022 Segment FVS SV Eliminations and Other Consolidated Fleet vehicle sales $ 402,996 $ - $ - $ 402,996 Motorhome chassis sales - 138,000 - 138,000 Other specialty vehicle sales - 140,320 (2,335 ) 137,985 Aftermarket parts and accessories sales 31,092 15,080 - 46,172 Total sales $ 434,088 $ 293,400 $ (2,335 ) $ 725,153 Depreciation and amortization expense $ 3,074 $ 5,306 $ 1,675 $ 10,055 Adjusted EBITDA 38,015 38,508 (36,415 ) 40,108 Segment assets 281,510 231,185 39,004 551,699 Capital expenditures 10,590 906 2,202 13,698

Other Information - Rule 10b5-1

Other Information - Rule 10b5-1 Disclosure	9 Months Ended
	Sep. 30, 2023
Notes to Financial Statements
Issuer Rule 10b5-1, Material Terms [Text Block]	Item 5. Other Information During the quarter ended September 30, 2023, no director or officer (as defined in Rule 16a-1(f) under the Exchange Act) of the Company adopted, modified or terminated a “Rule 10b5-1 trading arrangement” or “non-Rule 10b5-1 trading arrangement” (as each term is defined in Item 408 of Regulation S-K).

Note 2 - Inventories (Tables)

Note 2 - Inventories (Tables)	9 Months Ended
	Sep. 30, 2023
Notes Tables
Schedule of Inventory, Current [Table Text Block]	September 30, 2023 December 31, 2022 Finished goods $ 20,706 $ 13,361 Work in process 8,878 5,200 Raw materials and purchased components 85,616 81,600 Total inventories $ 115,200 $ 100,161

Note 3 - Debt (Tables)

Note 3 - Debt (Tables)	9 Months Ended
	Sep. 30, 2023
Notes Tables
Schedule of Short-Term Debt [Table Text Block]	September 30, 2023 December 31, 2022 Chassis pool agreements $ 29,285 $ 19,544 Total short-term debt $ 29,285 $ 19,544
Schedule of Long-Term Debt Instruments [Table Text Block]	September 30, 2023 December 31, 2022 Line of credit revolver $ 55,000 $ 56,000 Finance lease obligation 384 455 Total debt 55,384 56,455 Less current portion of long-term debt (203 ) (189 ) Total long-term debt $ 55,181 $ 56,266

Note 4 - Revenue (Tables)

Note 4 - Revenue (Tables)	9 Months Ended
	Sep. 30, 2023
Notes Tables
Contract with Customer, Contract Asset, Contract Liability, and Receivable [Table Text Block]	September 30, 2023 September 30, 2022 Contract Assets Contract assets, beginning of period $ 86,993 $ 21,483 Reclassification of the beginning contract assets to receivables, as the result of rights to consideration becoming unconditional (86,061 ) (21,482 ) Contract assets recognized, net of reclassification to receivables 47,537 87,098 Contract assets, end of period $ 48,469 $ 87,099 Contract Liabilities Contract liabilities, beginning of period $ 5,255 $ 988 Reclassification of the beginning contract liabilities to revenue, as the result of performance obligations satisfied (5,182 ) (988 ) Cash received in advance and not recognized as revenue 6,160 10,601 Contract liabilities, end of period $ 6,233 $ 10,601
Disaggregation of Revenue [Table Text Block]	Three Months Ended September 30, 2023 FVS SV Eliminations and Other Total Primary geographical markets United States $ 122,626 $ 76,603 $ 444 $ 199,673 Other 1,633 19 - 1,652 Total sales $ 124,259 $ 76,622 $ 444 $ 201,325 Timing of revenue recognition Products transferred at a point in time $ 15,768 $ 34,297 $ 467 $ 50,532 Products and services transferred over time 108,491 42,325 (23 ) 150,793 Total sales $ 124,259 $ 76,622 $ 444 $ 201,325 Three Months Ended September 30, 2022 FVS SV Eliminations and Other Total Primary geographical markets United States $ 183,409 $ 103,869 $ (2,335 ) $ 284,943 Other 1,085 47 - 1,132 Total sales $ 184,494 $ 103,916 $ (2,335 ) $ 286,075 Timing of revenue recognition Products transferred at a point in time $ 10,821 $ 58,729 $ - $ 69,550 Products and services transferred over time 173,673 45,187 (2,335 ) 216,525 Total sales $ 184,494 $ 103,916 $ (2,335 ) $ 286,075 Nine Months Ended September 30, 2023 FVS SV Eliminations and Other Total Primary geographical markets United States $ 401,117 $ 251,306 $ (4,180 ) $ 648,243 Other 21,558 64 - 21,622 Total sales $ 422,675 $ 251,370 $ (4,180 ) $ 669,865 Timing of revenue recognition Products transferred at a point in time $ 41,614 $ 109,977 $ 467 $ 152,058 Products and services transferred over time 381,061 141,393 (4,647 ) 517,807 Total sales $ 422,675 $ 251,370 $ (4,180 ) $ 669,865 Nine Months Ended September 30, 2022 FVS SV Eliminations and Other Total Primary geographical markets United States $ 428,606 $ 293,325 $ (2,335 ) $ 719,596 Other 5,482 75 - 5,557 Total sales $ 434,088 $ 293,400 $ (2,335 ) $ 725,153 Timing of revenue recognition Products transferred at a point in time $ 31,092 $ 163,068 $ - $ 194,160 Products and services transferred over time 402,996 130,332 (2,335 ) 530,993 Total sales $ 434,088 $ 293,400 $ (2,335 ) $ 725,153

Note 5 - Property, Plant and _2

Note 5 - Property, Plant and Equipment (Tables)	9 Months Ended
	Sep. 30, 2023
Notes Tables
Property, Plant and Equipment [Table Text Block]	September 30, 2023 December 31, 2022 Land and improvements $ 12,178 $ 12,314 Buildings and improvements 49,051 42,827 Plant machinery and equipment 58,427 55,969 Furniture and fixtures 19,777 18,334 Vehicles 2,019 2,083 Construction in process 11,167 9,946 Subtotal 152,619 141,473 Accumulated depreciation (73,182 ) (70,720 ) Total property, plant and equipment, net $ 79,437 $ 70,753

Note 6 - Leases (Tables)

Note 6 - Leases (Tables)	9 Months Ended
	Sep. 30, 2023
Notes Tables
Lease, Cost [Table Text Block]	Three Months Ended Nine Months Ended September 30, September 30, 2023 2022 2023 2022 Operating leases $ 2,808 $ 2,683 $ 8,755 $ 7,492 Short-term leases(1) 373 87 995 144 Total lease expense $ 3,181 $ 2,770 $ 9,750 $ 7,636
Operating Leases, Weighted Average Remaining Lease Term and Weighted Average Discount Rate [Table Text Block]	September 30, 2023 2022 Weighted average remaining lease term of operating leases (in years) 7.3 8.2 Weighted average discount rate of operating leases 2.9 % 2.7 %
Schedule of Cash Flow, Supplemental Disclosures [Table Text Block]	Nine Months Ended September 30, 2023 2022 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flow for operating leases $ 8,312 $ 6,874 Right of use assets obtained in exchange for lease obligations: Operating leases $ 10,208 $ 16,367 Finance leases $ 89 $ 202
Lessee, Operating Lease, Liability, to be Paid, Maturity [Table Text Block]	Years ending December 31: 2023 (1) $ 2,693 2024 10,292 2025 9,782 2026 7,605 2027 5,268 Thereafter 18,505 Total lease payments 54,145 Imputed interest (4,770 ) Total lease liabilities $ 49,375

Note 7 - Commitments and Cont_2

Note 7 - Commitments and Contingent Liabilities (Tables)	9 Months Ended
	Sep. 30, 2023
Notes Tables
Schedule of Product Warranty Liability [Table Text Block]	Nine Months Ended September 30, 2023 2022 Balance of accrued warranty at January 1 $ 7,161 $ 5,975 Provisions for current period sales 3,023 3,597 Changes in liability for pre-existing warranties (1,044 ) 430 Cash settlements (2,823 ) (3,570 ) Balance of accrued warranty at September 30 $ 6,317 $ 6,432

Note 9 - Business Segments (Tab

Note 9 - Business Segments (Tables)	9 Months Ended
	Sep. 30, 2023
Notes Tables
Schedule of Segment Reporting Information, by Segment [Table Text Block]	Three Months Ended September 30, 2023 Segment FVS SV Eliminations and Other Consolidated Fleet vehicle sales $ 108,491 $ - $ - $ 108,491 Motorhome chassis sales - 20,519 - 20,519 Other specialty vehicle sales - 50,557 444 51,001 Aftermarket parts and accessories sales 15,768 5,546 - 21,314 Total sales $ 124,259 $ 76,622 $ 444 $ 201,325 Depreciation and amortization expense $ 1,700 $ 1,659 $ 951 $ 4,310 Adjusted EBITDA 7,977 15,988 (12,977 ) 10,988 Segment assets 254,729 219,204 61,528 535,461 Capital expenditures 750 1,006 3,697 5,453 Three Months Ended September 30, 2022 Segment FVS SV Eliminations and Other Consolidated Fleet vehicle sales $ 173,673 $ - $ - $ 173,673 Motorhome chassis sales - 50,399 - 50,399 Other specialty vehicle sales - 48,570 (2,335 ) 46,235 Aftermarket parts and accessories sales 10,821 4,947 - 15,768 Total sales $ 184,494 $ 103,916 $ (2,335 ) $ 286,075 Depreciation and amortization expense $ 1,144 $ 1,692 $ 523 $ 3,359 Adjusted EBITDA 24,361 15,550 (12,849 ) 27,062 Segment assets 281,510 231,185 39,004 551,699 Capital expenditures 2,791 220 195 3,206 Nine Months Ended September 30, 2023 Segment FVS SV Eliminations and Other Consolidated Fleet vehicle sales $ 381,061 $ - $ - $ 381,061 Motorhome chassis sales - 78,578 - 78,578 Other specialty vehicle sales - 156,906 (4,180 ) 152,726 Aftermarket parts and accessories sales 41,614 15,886 - 57,500 Total sales $ 422,675 $ 251,370 $ (4,180 ) $ 669,865 Depreciation and amortization expense $ 4,679 $ 5,038 $ 2,643 $ 12,360 Adjusted EBITDA 32,918 47,207 (42,482 ) 37,643 Segment assets 254,729 219,204 61,528 535,461 Capital expenditures 4,317 2,185 11,132 17,634 Nine Months Ended September 30, 2022 Segment FVS SV Eliminations and Other Consolidated Fleet vehicle sales $ 402,996 $ - $ - $ 402,996 Motorhome chassis sales - 138,000 - 138,000 Other specialty vehicle sales - 140,320 (2,335 ) 137,985 Aftermarket parts and accessories sales 31,092 15,080 - 46,172 Total sales $ 434,088 $ 293,400 $ (2,335 ) $ 725,153 Depreciation and amortization expense $ 3,074 $ 5,306 $ 1,675 $ 10,055 Adjusted EBITDA 38,015 38,508 (36,415 ) 40,108 Segment assets 281,510 231,185 39,004 551,699 Capital expenditures 10,590 906 2,202 13,698

Note 1 - Nature of Operations_2

Note 1 - Nature of Operations and Basis of Presentation (Details Textual) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022
Capital Expenditures Incurred but Not yet Paid	$ 2,258	$ 982

Note 2 - Inventories - Summary

Note 2 - Inventories - Summary of Inventories (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Finished goods	$ 20,706	$ 13,361
Work in process	8,878	5,200
Raw materials and purchased components	85,616	81,600
Total inventories	$ 115,200	$ 100,161

Note 3 - Debt (Details Textual)

Note 3 - Debt (Details Textual) - USD ($) $ in Thousands		9 Months Ended
	Nov. 30, 2021	Sep. 30, 2023	Dec. 31, 2022
Letters of Credit Outstanding, Amount		$ 1,550	$ 1,200
Lenders [Member] | Revolving Credit Facility [Member]
Line of Credit Facility, Maximum Borrowing Capacity	$ 400,000
Line of Credit Facility, Potential Increase Borrowing Capacity	$ 200,000
Debt Instrument Reference Rate Term (Month)	1 month
Debt Instrument, Interest Rate During Period		6.43%
Line of Credit Facility, Current Borrowing Capacity		$ 177,546	$ 187,162
Lenders [Member] | Revolving Credit Facility [Member] | Fed Funds Effective Rate Overnight Index Swap Rate [Member]
Debt Instrument, Basis Spread on Variable Rate	0.50%
Lenders [Member] | Revolving Credit Facility [Member] | Secured Overnight Financing Rate (SOFR) [Member]
Debt Instrument, Basis Spread on Variable Rate	1%	1%
Lenders [Member] | Letter of Credit [Member]
Line of Credit Facility, Maximum Borrowing Capacity	$ 20,000
Lenders [Member] | Swing Line Loans [Member]
Line of Credit Facility, Maximum Borrowing Capacity	$ 10,000

Note 3 - Debt - Short-term Debt

Note 3 - Debt - Short-term Debt (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Short-term debt	$ 29,285	$ 19,544
Chassis Pool Agreements [Member]
Short-term debt	$ 29,285	$ 19,544

Note 3 - Debt - Schedule of Lon

Note 3 - Debt - Schedule of Long-term Debt (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Line of credit revolver	$ 55,000	$ 56,000
Finance lease obligation	384	455
Total debt	55,384	56,455
Less current portion of long-term debt	(203)	(189)
Total long-term debt	$ 55,181	$ 56,266

Note 4 - Revenue (Details Textu

Note 4 - Revenue (Details Textual) $ in Thousands	Sep. 30, 2023 USD ($)
Fleet Vehicles and Services [Member]
Revenue, Remaining Performance Obligation, Amount	$ 383,448
Specialty Vehicles [Member]
Revenue, Remaining Performance Obligation, Amount	$ 80,983

Note 4 - Revenue - Contract Ass

Note 4 - Revenue - Contract Assets and Liabilities (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022
Contract assets, balance	$ 86,993	$ 21,483
Reclassification of the beginning contract assets to receivables, as the result of rights to consideration becoming unconditional	(86,061)	(21,482)
Contract assets recognized, net of reclassification to receivables	47,537	87,098
Contract assets, balance	48,469	87,099
Contract liabilities, balance	5,255	988
Reclassification of the beginning contract liabilities to revenue, as the result of performance obligations satisfied	(5,182)	(988)
Cash received in advance and not recognized as revenue	6,160	10,601
Contract liabilities, balance	$ 6,233	$ 10,601

Note 4 - Revenue - Disaggregate

Note 4 - Revenue - Disaggregated Revenue (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Revenues	$ 201,325	$ 286,075	$ 669,865	$ 725,153
Transferred at Point in Time [Member]
Revenues	50,532	69,550	152,058	194,160
Transferred over Time [Member]
Revenues	150,793	216,525	517,807	530,993
Consolidation, Eliminations [Member]
Revenues	444	(2,335)	(4,180)	(2,335)
Consolidation, Eliminations [Member] | Transferred at Point in Time [Member]
Revenues	467	0	467	0
Consolidation, Eliminations [Member] | Transferred over Time [Member]
Revenues	(23)	(2,335)	(4,647)	(2,335)
Fleet Vehicles and Services [Member] | Operating Segments [Member]
Revenues	124,259	184,494	422,675	434,088
Fleet Vehicles and Services [Member] | Operating Segments [Member] | Transferred at Point in Time [Member]
Revenues	15,768	10,821	41,614	31,092
Fleet Vehicles and Services [Member] | Operating Segments [Member] | Transferred over Time [Member]
Revenues	108,491	173,673	381,061	402,996
Specialty Vehicles [Member] | Operating Segments [Member]
Revenues	76,622	103,916	251,370	293,400
Specialty Vehicles [Member] | Operating Segments [Member] | Transferred at Point in Time [Member]
Revenues	34,297	58,729	109,977	163,068
Specialty Vehicles [Member] | Operating Segments [Member] | Transferred over Time [Member]
Revenues	42,325	45,187	141,393	130,332
UNITED STATES
Revenues	199,673	284,943	648,243	719,596
UNITED STATES | Consolidation, Eliminations [Member]
Revenues	444	(2,335)	(4,180)	(2,335)
UNITED STATES | Fleet Vehicles and Services [Member] | Operating Segments [Member]
Revenues	122,626	183,409	401,117	428,606
UNITED STATES | Specialty Vehicles [Member] | Operating Segments [Member]
Revenues	76,603	103,869	251,306	293,325
Non-US [Member]
Revenues	1,652	1,132	21,622	5,557
Non-US [Member] | Consolidation, Eliminations [Member]
Revenues	0	0	0	0
Non-US [Member] | Fleet Vehicles and Services [Member] | Operating Segments [Member]
Revenues	1,633	1,085	21,558	5,482
Non-US [Member] | Specialty Vehicles [Member] | Operating Segments [Member]
Revenues	$ 19	$ 47	$ 64	$ 75

Note 5 - Property, Plant and _3

Note 5 - Property, Plant and Equipment (Details Textual) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Depreciation	$ 3,358	$ 2,404	$ 9,503	$ 7,155

Note 5 - Property, Plant and _4

Note 5 - Property, Plant and Equipment - Summary of Property, Plant, and Equipment (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Property, plant and equipment, gross	$ 152,619	$ 141,473
Accumulated depreciation	(73,182)	(70,720)
Total property, plant and equipment, net	79,437	70,753
Land and Land Improvements [Member]
Property, plant and equipment, gross	12,178	12,314
Building and Building Improvements [Member]
Property, plant and equipment, gross	49,051	42,827
Machinery and Equipment [Member]
Property, plant and equipment, gross	58,427	55,969
Furniture and Fixtures [Member]
Property, plant and equipment, gross	19,777	18,334
Vehicles [Member]
Property, plant and equipment, gross	2,019	2,083
Construction in Progress [Member]
Property, plant and equipment, gross	$ 11,167	$ 9,946

Note 6 - Leases (Details Textua

Note 6 - Leases (Details Textual)	9 Months Ended
	Sep. 30, 2023
Minimum [Member]
Leases, Remaining Lease Terms (Year)	1 year
Maximum [Member]
Leases, Remaining Lease Terms (Year)	17 years
Leases, Term, Option to Extend (Year)	15 years

Note 6 - Leases - Lease Cost (D

Note 6 - Leases - Lease Cost (Details) - USD ($) $ in Thousands		3 Months Ended		9 Months Ended
		Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Operating leases		$ 2,808	$ 2,683	$ 8,755	$ 7,492
Short-term leases(1)	[1]	373	87	995	144
Total lease expense		$ 3,181	$ 2,770	$ 9,750	$ 7,636
[1]Includes expenses for month-to-month equipment leases, which are classified as short-term as the Company is not reasonably certain to renew the lease term beyond one month.

Note 6 - Leases - Weighted Aver

Note 6 - Leases - Weighted Average Remaining Lease Term and Weighted Average Discount Rate (Details)	Sep. 30, 2023	Sep. 30, 2022
Weighted average remaining lease term of operating leases (in years) (Year)	7 years 3 months 18 days	8 years 2 months 12 days
Weighted average discount rate of operating leases	2.90%	2.70%

Note 6 - Leases - Lease Expense

Note 6 - Leases - Lease Expense and Information - Supplemental Cash Flow Information (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022
Operating cash flow for operating leases	$ 8,312	$ 6,874
Operating leases	10,208	16,367
Finance leases	$ 89	$ 202

Note 6 - Leases - Leases - Futu

Note 6 - Leases - Leases - Future Minimum Operating Lease Commitments Under Non-cancelable Operating Lease (Details) $ in Thousands	Sep. 30, 2023 USD ($)
2023(1)	$ 2,693	[1]
2024	10,292
2025	9,782
2026	7,605
2027	5,268
Thereafter	18,505
Total lease payments	54,145
Imputed interest	(4,770)
Total lease liabilities	$ 49,375
[1]Excluding the nine months ended September 30, 2023.

Note 7 - Commitments and Cont_3

Note 7 - Commitments and Contingent Liabilities - Changes in Warranty Liability (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022
Balance of accrued warranty	$ 7,161	$ 5,975
Provisions for current period sales	3,023	3,597
Changes in liability for pre-existing warranties	(1,044)	430
Cash settlements	(2,823)	(3,570)
Balance of accrued warranty	$ 6,317	$ 6,432

Note 8 - Taxes on Income (Detai

Note 8 - Taxes on Income (Details Textual)	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Effective Income Tax Rate Reconciliation, Percent	(76.00%)	17.90%	(9.70%)	15.20%
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent	21%	21%	21%	21%

Note 9 - Business Segments (Det

Note 9 - Business Segments (Details Textual)	9 Months Ended
	Sep. 30, 2023
Number of Reportable Segments	2

Note 9 - Business Segments - Se

Note 9 - Business Segments - Segment Reporting Information (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022	Dec. 31, 2022
Revenues	$ 201,325	$ 286,075	$ 669,865	$ 725,153
Depreciation and amortization expense	4,310	3,359	12,360	10,055
Adjusted EBITDA	10,988	27,062	37,643	40,108
Segment assets	535,461	551,699	535,461	551,699	$ 580,481
Capital expenditures	5,453	3,206	17,634	13,698
Fleet Vehicle Sales [Member]
Revenues	108,491	173,673	381,061	402,996
Motorhome Chassis [Member]
Revenues	20,519	50,399	78,578	138,000
Other Specialty Vehicles [Member]
Revenues	51,001	46,235	152,726	137,985
Aftermarket Parts and Accessories Sales [Member]
Revenues	21,314	15,768	57,500	46,172
Operating Segments [Member] | Fleet Vehicles and Services [Member]
Revenues	124,259	184,494	422,675	434,088
Depreciation and amortization expense	1,700	1,144	4,679	3,074
Adjusted EBITDA	7,977	24,361	32,918	38,015
Segment assets	254,729	281,510	254,729	281,510
Capital expenditures	750	2,791	4,317	10,590
Operating Segments [Member] | Fleet Vehicles and Services [Member] | Fleet Vehicle Sales [Member]
Revenues	108,491	173,673	381,061	402,996
Operating Segments [Member] | Fleet Vehicles and Services [Member] | Motorhome Chassis [Member]
Revenues	0	0	0	0
Operating Segments [Member] | Fleet Vehicles and Services [Member] | Other Specialty Vehicles [Member]
Revenues	0	0	0	0
Operating Segments [Member] | Fleet Vehicles and Services [Member] | Aftermarket Parts and Accessories Sales [Member]
Revenues	15,768	10,821	41,614	31,092
Operating Segments [Member] | Specialty Vehicles [Member]
Revenues	76,622	103,916	251,370	293,400
Depreciation and amortization expense	1,659	1,692	5,038	5,306
Adjusted EBITDA	15,988	15,550	47,207	38,508
Segment assets	219,204	231,185	219,204	231,185
Capital expenditures	1,006	220	2,185	906
Operating Segments [Member] | Specialty Vehicles [Member] | Fleet Vehicle Sales [Member]
Revenues	0	0	0	0
Operating Segments [Member] | Specialty Vehicles [Member] | Motorhome Chassis [Member]
Revenues	20,519	50,399	78,578	138,000
Operating Segments [Member] | Specialty Vehicles [Member] | Other Specialty Vehicles [Member]
Revenues	50,557	48,570	156,906	140,320
Operating Segments [Member] | Specialty Vehicles [Member] | Aftermarket Parts and Accessories Sales [Member]
Revenues	5,546	4,947	15,886	15,080
Segment Reconciling Items [Member]
Revenues	444	(2,335)	(4,180)	(2,335)
Depreciation and amortization expense	951	523	2,643	1,675
Adjusted EBITDA	(12,977)	(12,849)	(42,482)	(36,415)
Segment assets	61,528	39,004	61,528	39,004
Capital expenditures	3,697	195	11,132	2,202
Segment Reconciling Items [Member] | Fleet Vehicle Sales [Member]
Revenues	0	0	0	0
Segment Reconciling Items [Member] | Motorhome Chassis [Member]
Revenues	0	0	0	0
Segment Reconciling Items [Member] | Other Specialty Vehicles [Member]
Revenues	444	(2,335)	(4,180)	(2,335)
Segment Reconciling Items [Member] | Aftermarket Parts and Accessories Sales [Member]
Revenues	$ 0	$ 0	$ 0	$ 0