The Shyft Group, Inc. (SHYF) 10-Q 24 Oct 24 2024 Q3 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	9 Months Ended
	Sep. 30, 2024	Oct. 18, 2024
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	2024
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 30, 2024
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		34,494,454

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets (Current Period Unaudited) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Current assets:
Cash and cash equivalents	$ 21,440	$ 9,957
Accounts receivable, less allowance of $496 and $276	99,255	79,573
Contract assets	32,237	50,305
Inventories	108,931	105,135
Other receivables – chassis pool agreements	31,592	34,496
Other current assets	6,364	7,462
Total current assets	299,819	286,928
Property, plant and equipment, net	83,773	83,437
Right of use assets – operating leases	40,524	45,827
Goodwill	64,902	48,880
Intangible assets, net	60,724	45,268
Net deferred tax assets	17,310	17,300
Other assets	2,382	2,409
TOTAL ASSETS	569,434	530,049
Current liabilities:
Accounts payable	80,697	99,855
Accrued warranty	8,827	7,231
Accrued compensation and related taxes	17,204	13,526
Contract liabilities	6,024	4,756
Operating lease liability	9,881	10,817
Other current liabilities and accrued expenses	10,659	11,965
Short-term debt – chassis pool agreements	31,592	34,496
Current portion of long-term debt	248	185
Total current liabilities	165,132	182,831
Other non-current liabilities	9,028	8,184
Long-term operating lease liability	32,377	36,724
Long-term debt, less current portion	110,234	50,144
Total liabilities	316,771	277,883
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; 34,482 and 34,303 outstanding	98,888	93,705
Retained earnings	153,775	158,461
Total shareholders' equity	252,663	252,166
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY	$ 569,434	$ 530,049

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - USD ($) shares in Thousands, $ / shares in Thousands, $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Accounts receivable, allowance	$ 496	$ 276
Preferred stock, 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)	34,482	34,303

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations (Unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Sales	$ 194,075	$ 201,325	$ 584,744	$ 669,865
Cost of products sold	154,468	164,557	470,488	547,419
Gross profit	39,607	36,768	114,256	122,446
Operating expenses:
Research and development	4,200	5,225	12,425	18,064
Selling, general and administrative	30,078	27,419	94,704	89,978
Total operating expenses	34,278	32,644	107,129	108,042
Operating income	5,329	4,124	7,127	14,404
Other income (expense)
Interest expense	(2,392)	(1,572)	(6,198)	(4,697)
Other income	138	15	315	209
Total other expense	(2,254)	(1,557)	(5,883)	(4,488)
Income before income taxes	3,075	2,567	1,244	9,916
Income tax expense (benefit)	(48)	(1,951)	626	(965)
Net income	3,123	4,518	618	10,881
Less: net loss attributable to non-controlling interest	0	0	0	32
Net income attributable to The Shyft Group Inc.	$ 3,123	$ 4,518	$ 618	$ 10,913
Basic earnings per share (in dollars per share)	$ 0.09	$ 0.13	$ 0.02	$ 0.31
Diluted earnings per share (in dollars per share)	$ 0.09	$ 0.13	$ 0.02	$ 0.31
Basic weighted average common shares outstanding (in shares)	34,474	34,604	34,399	34,863
Diluted weighted average common shares outstanding (in shares)	34,651	34,637	34,527	34,985

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023
Cash flows from operating activities:
Net income (loss)	$ 618	$ 10,881
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	14,488	12,360
Non-cash stock-based compensation expense	5,672	5,187
Loss on disposal of assets	167	132
Deferred income taxes	(9)	(614)
Changes in accounts receivable and contract assets	7,454	62,730
Changes in inventories	6,949	(15,039)
Changes in accounts payable	(21,509)	(25,194)
Changes in accrued compensation and related taxes	3,678	1,693
Changes in accrued warranty	1,596	(844)
Change in other assets and liabilities	(1,888)	(6,474)
Net cash provided by operating activities	17,216	44,818
Cash flows from investing activities:
Purchases of property, plant and equipment	(11,482)	(16,143)
Proceeds from sale of property, plant and equipment	91	100
Acquisition of business, net of cash acquired	(48,631)	(500)
Net cash used in investing activities	(60,022)	(16,543)
Cash flows from financing activities:
Proceeds from long-term debt	135,000	100,000
Payments on long-term debt	(75,000)	(101,000)
Payments of dividends	(5,222)	(5,392)
Purchase and retirement of common stock	0	(19,083)
Exercise and vesting of stock incentive awards	(489)	(4,472)
Net cash provided by (used in) financing activities	54,289	(29,947)
Net increase (decrease) in cash and cash equivalents	11,483	(1,672)
Cash and cash equivalents at beginning of period	9,957	11,548
Cash and cash equivalents at end of period	$ 21,440	$ 9,876

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, 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 ("SIP") (in shares)	5
Issuance of common stock and tax impact of stock incentive plan ("SIP")		(4,656)	0	0	(4,656)
Dividends declared		0	(1,820)	0	(1,820)
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)			1,710	(32)	1,678
Purchase and retirement of common stock (in shares)	(349)
Purchase and retirement of common stock		(893)	(7,872)	0	(8,765)
Issuance of common stock and tax impact of SIP		4,656	0	0	4,656
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 ("SIP") (in shares)	5
Issuance of common stock and tax impact of stock incentive plan ("SIP")		(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
Issuance of common stock and tax impact of SIP		83	0	0	83
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 ("SIP") (in shares)	4
Issuance of common stock and tax impact of stock incentive plan ("SIP")		(101)	0	0	(101)
Dividends declared		0	(1,765)	0	(1,765)
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
Purchase and retirement of common stock (in shares)	(674)
Purchase and retirement of common stock		(1,758)	(8,652)	0	(10,410)
Issuance of common stock and tax impact of SIP		101	0	0	101
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 Dec. 31, 2023	34,303
Balance at Dec. 31, 2023		93,705	158,461	0	252,166
Issuance of common stock and tax impact of stock incentive plan ("SIP") (in shares)	10
Issuance of common stock and tax impact of stock incentive plan ("SIP")		(389)	0	0	(389)
Dividends declared		0	(1,757)	0	(1,757)
Issuance of restricted stock, net of cancellation (in shares)	48
Issuance of restricted stock, net of cancellation		0	0	0	0
Non-cash stock-based compensation expense		1,474	0	0	1,474
Net income (loss)		0	(4,669)	0	(4,669)
Issuance of common stock and tax impact of SIP		389	0	0	389
Balance (in shares) at Mar. 31, 2024	34,361
Balance at Mar. 31, 2024		94,790	152,035	0	246,825
Balance (in shares) at Dec. 31, 2023	34,303
Balance at Dec. 31, 2023		93,705	158,461	0	252,166
Net income (loss)					618
Balance (in shares) at Sep. 30, 2024	34,482
Balance at Sep. 30, 2024		98,888	153,775	0	252,663
Balance (in shares) at Mar. 31, 2024	34,361
Balance at Mar. 31, 2024		94,790	152,035	0	246,825
Issuance of common stock and tax impact of stock incentive plan ("SIP") (in shares)	12
Issuance of common stock and tax impact of stock incentive plan ("SIP")		(149)	0	0	(149)
Dividends declared		0	(1,760)	0	(1,760)
Issuance of restricted stock, net of cancellation (in shares)	75
Issuance of restricted stock, net of cancellation		0	0	0	0
Non-cash stock-based compensation expense		2,010	0	0	2,010
Net income (loss)		0	2,164	0	2,164
Issuance of common stock and tax impact of SIP		149	0	0	149
Balance (in shares) at Jun. 30, 2024	34,448
Balance at Jun. 30, 2024		96,651	152,439	0	249,090
Issuance of common stock and tax impact of stock incentive plan ("SIP") (in shares)	15
Issuance of common stock and tax impact of stock incentive plan ("SIP")		(49)	0	0	(49)
Dividends declared		0	(1,787)	0	(1,787)
Issuance of restricted stock, net of cancellation (in shares)	19
Issuance of restricted stock, net of cancellation		0	0	0	0
Non-cash stock-based compensation expense		2,188	0	0	2,188
Net income (loss)		0	3,123	0	3,123
Issuance of common stock and tax impact of SIP		49	0	0	49
Balance (in shares) at Sep. 30, 2024	34,482
Balance at Sep. 30, 2024		$ 98,888	$ 153,775	$ 0	$ 252,663

Condensed Consolidated Statem_4

Condensed Consolidated Statement of Shareholders' Equity (Unaudited) (Parentheticals) - $ / shares	3 Months Ended
	Sep. 30, 2024	Jun. 30, 2024	Mar. 31, 2024	Sep. 30, 2023	Jun. 30, 2023	Mar. 31, 2023
Dividends, Per Share (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, 2024
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) and recreational vehicle industries. Our products include walk-in vans and truck bodies used in e-commerce/parcel delivery, upfit equipment used in the 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, 2024, three nine September 30, 2024 nine September 30, 2024. 10 December 31, 2023 February 22, 2024. three nine September 30, 2024, not 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, 2023, 10 Supplemental Disclosures of Cash Flow Information nine September 30, 2024 September 30, 2023 4 Debt

Note 2 - Acquisition Activities

Note 2 - Acquisition Activities	9 Months Ended
	Sep. 30, 2024
Notes to Financial Statements
Business Combination Disclosure [Text Block]	NOTE 2 On July 24, 2024, first two . three nine September 30, 2024, The ITU acquisition was accounted for using the acquisition method of accounting with the purchase price allocated to the assets purchased and liabilities assumed based upon their estimated fair values at the date of acquisition. Identifiable intangible assets include customer relationships, backlog, trade names and trademarks, unpatented technology and non-competition agreements. The excess of the purchase price over the estimated fair values of the tangible and intangible assets acquired of $16,022 was recorded as goodwill, which is expected to be deductible for tax purposes. The fair value of the net assets acquired were based on a preliminary valuation and the estimates and assumptions are subject to change within the measurement period. The preliminary purchase price was comprised of the following: Preliminary purchase price: Cash paid $ 50,889 Fair value of contingent consideration 4,300 Total preliminary purchase price $ 55,189 The Company recorded a current and a non-current contingent consideration liability for the earn-out at a fair value of $2,680 and $1,620, respectively, as of the acquisition date. The fair value was estimated using a Monte Carlo simulation to model the likelihood of achieving the agreed-upon performance criteria based on available information as of the acquisition date. The valuation methodology includes assumptions and judgments regarding the discount rate, estimated probability of achieving the performance criteria, and expected timing of payments. As of September 30, 2024, Fair value of identifiable assets and liabilities: Cash and cash equivalents $ 2,259 Accounts receivable, less allowance 8,726 Contract assets 341 Inventory 10,745 Other current assets 13 Property, plant and equipment 5,525 Right of use assets-operating leases 33 Other assets 5 Intangible assets 18,650 Goodwill 16,022 Total assets acquired 62,319 Accounts payable (6,395 ) Contract liabilities (17 ) Operating lease liabilities (6 ) Other current liabilities and accrued expenses (685 ) Long-term operating lease liability (27 ) Total liabilities assumed (7,130 ) Total fair value allocation of preliminary purchase price $ 55,189 Intangible assets totaling $18,650 have provisionally been assigned to customer relationships, backlog, trade names and trademarks, unpatented technology and non-competition agreements as a result of the acquisition and consist of the following (in thousands): Amount Useful Life Customer relationships $ 11,800 13 Years Backlog 1,600 1 Year Trade names and trademarks 1,600 6 Years Unpatented technology 3,400 10 Years Non-competition agreements 250 5 Years $ 18,650 The Company amortizes the customer relationships utilizing an accelerated approach and amortizes backlog, trade names and trademarks, unpatented technology and non-competition agreement assets utilizing a straight-line approach. Amortization expense was $587 for the three nine September 30, 2024. Goodwill consists of operational synergies that are expected to be realized in both the short and long-term and the opportunity to enter into new markets which will enable us to increase value to our customers and shareholders. Key areas of expected cost savings include an expanded dealer network, complementary product portfolios and manufacturing and supply chain work process improvements. Due to its insignificant size relative to the Company, supplemental pro forma financial information of the combined entity for the prior reporting period is not

Note 3 - Inventories

Note 3 - Inventories	9 Months Ended
	Sep. 30, 2024
Notes to Financial Statements
Inventory Disclosure [Text Block]	NOTE 3 Inventories are summarized as follows: September 30, 2024 December 31, Finished goods $ 5,446 $ 9,374 Work in process 3,089 2,543 Raw materials and purchased components 100,396 93,218 Total inventories $ 108,931 $ 105,135

Note 4 - Debt

Note 4 - Debt	9 Months Ended
	Sep. 30, 2024
Notes to Financial Statements
Debt Disclosure [Text Block]	NOTE 4 Short-term debt consists of the following: September 30, December 31, Chassis pool agreements $ 31,592 $ 34,496 Total short-term debt $ 31,592 $ 34,496 Chassis Pool Agreements The Company obtains certain vehicle chassis for its walk-in vans, service bodies and specialty vehicles directly from the chassis manufacturers under converter pool agreements. Chassis are obtained from the manufacturers based on orders from customers, and in some cases, for unallocated orders. 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 not Although the Company is party to related finance agreements with manufacturers, the Company has not Other receivables – chassis pool agreements Short-term debt – chassis pool agreements 90 Long-term debt consists of the following: September 30, December 31, Line of credit revolver $ 110,000 $ 50,000 Finance lease obligation 482 329 Total debt 110,482 50,329 Less current portion of long-term debt (248 ) (185 ) Total long-term debt $ 110,234 $ 50,144 Revolving Credit Facility On November 30, 2021, On March 27, 2024, June 30, 2024. Under the Credit Agreement, we may November 30, 2026. may one 1.50%; one September 30, 2024. The revolving credit facility is secured by security interests in, and liens on, all assets of the borrowers and guarantors, other than real property and certain other excluded assets. At September 30, 2024 December 31, 2023, Under the terms of our Credit Agreement, available borrowings (exclusive of outstanding borrowings) totaled $34,114 and $83,243 at September 30, 2024 December 31, 2023, September 30, 2024 December 31, 2023,

Note 5 - Revenue

Note 5 - Revenue	9 Months Ended
	Sep. 30, 2024
Notes to Financial Statements
Revenue from Contract with Customer [Text Block]	NOTE 5 Changes in our contract assets and liabilities for the nine September 30, 2024 2023 September 30, 2024 September 30, 2023 Contract Assets Contract assets, beginning of period $ 50,305 $ 86,993 Reclassification of the beginning contract assets to receivables, as the result of rights to consideration becoming unconditional (49,445 ) (86,061 ) Contract assets recognized, net of reclassification to receivables 31,377 47,537 Contract assets, end of period $ 32,237 $ 48,469 Contract Liabilities Contract liabilities, beginning of period $ 4,756 $ 5,255 Reclassification of the beginning contract liabilities to revenue, as the result of performance obligations satisfied (4,314 ) (5,182 ) Cash received in advance and not recognized as revenue 5,582 6,160 Contract liabilities, end of period $ 6,024 $ 6,233 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 $267,952 and $77,456, 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, 2024 FVS SV Eliminations and Other Total Primary geographical markets United States $ 101,095 $ 87,188 $ 850 $ 189,133 Other 4,765 177 - 4,942 Total sales $ 105,860 $ 87,365 $ 850 $ 194,075 Timing of revenue recognition Products transferred at a point in time $ 18,087 $ 26,849 $ 850 $ 45,786 Products and services transferred over time 87,773 60,516 - 148,289 Total sales $ 105,860 $ 87,365 $ 850 $ 194,075 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 Nine Months Ended September 30, 2024 FVS SV Eliminations and Other Total Primary geographical markets United States $ 276,822 $ 259,996 $ 926 $ 537,744 Other 46,637 363 - 47,000 Total sales $ 323,459 $ 260,359 $ 926 $ 584,744 Timing of revenue recognition Products transferred at a point in time $ 47,964 $ 100,228 $ 926 $ 149,118 Products and services transferred over time 275,495 160,131 - 435,626 Total sales $ 323,459 $ 260,359 $ 926 $ 584,744 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

Note 6 - Property, Plant and Eq

Note 6 - Property, Plant and Equipment	9 Months Ended
	Sep. 30, 2024
Notes to Financial Statements
Property, Plant and Equipment Disclosure [Text Block]	NOTE 6 Property, plant and equipment are summarized by major classifications as follows: September 30, 2024 December 31, 2023 Land and improvements $ 14,007 $ 12,578 Buildings and improvements 59,890 53,789 Plant machinery and equipment 66,485 60,517 Furniture and fixtures 20,128 19,474 Vehicles 2,252 2,015 Construction in process 5,665 10,570 Subtotal 168,427 158,943 Accumulated depreciation (84,654 ) (75,506 ) Total property, plant and equipment, net $ 83,773 $ 83,437 We recorded depreciation expense of $3,822 and $3,358 during the three September 30, 2024 2023, nine September 30, 2024 2023,

Note 7 - Leases

Note 7 - Leases	9 Months Ended
	Sep. 30, 2024
Notes to Financial Statements
Lessee, Operating Leases and Finance Leases [Text Block]	NOTE 7 We have operating and finance leases for land, buildings and certain equipment. Our leases have remaining lease terms of one not 4 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, 2024 2023 2024 2023 Operating leases $ 3,533 $ 2,808 $ 9,023 $ 8,755 Short-term leases (1) 247 373 893 995 Total lease expense $ 3,780 $ 3,181 $ 9,916 $ 9,750 ( 1 not one The weighted average remaining lease term and weighted average discount rate were as follows: September 30, 2024 2023 Weighted average remaining lease term of operating leases (in years) 6.8 7.3 Weighted average discount rate of operating leases 3.0 % 2.9 % Nine Months Ended September 30, 2024 2023 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flow for operating leases $ 9,611 $ 8,312 Right of use assets obtained in exchange for lease obligations: Operating leases $ 2,513 $ 10,208 Finance leases $ 430 $ 89 Maturities of operating lease liabilities as of September 30, 2024 Years ending December 31: 2024 (1) $ 2,835 2025 10,769 2026 8,634 2027 5,879 2028 4,219 2029 3,653 Thereafter 10,715 Total lease payments 46,704 Imputed interest (4,446 ) Total lease liabilities $ 42,258 ( 1 nine September 30, 2024.

Note 8 - Commitments and Contin

Note 8 - Commitments and Contingent Liabilities	9 Months Ended
	Sep. 30, 2024
Notes to Financial Statements
Commitments and Contingencies Disclosure [Text Block]	NOTE 8 At September 30, 2024, not 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 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, 2024 2023 Balance of accrued warranty at January 1 $ 7,231 $ 7,161 Accruals for warranties issued 3,969 3,023 Changes in liability for pre-existing warranties 902 (1,044 ) Cash settlements (3,335 ) (2,823 ) Acquisition 60 - Balance of accrued warranty at September 30 $ 8,827 $ 6,317 Legal Proceedings Relating to Environmental Matters As previously disclosed, in May 2020, January 1, 2017 May 2020. third 2020. On April 6, 2022, On September 27, 2024, September 30, 2024 October 2024.

Note 9 - Taxes on Income

Note 9 - Taxes on Income	9 Months Ended
	Sep. 30, 2024
Notes to Financial Statements
Income Tax Disclosure [Text Block]	NOTE 9 – TAXES ON INCOME Our income tax benefit was $48 and $1,951 for the three September 30, 2024 2023, three September 30, 2024 2023, nine September 30, 2024 2023, nine September 30, 2024 2023, The effective tax rate for the three nine September 30, 2024 2023 2024 three nine September 30, 2023 2022

Note 10 - Business Segments

Note 10 - Business Segments	9 Months Ended
	Sep. 30, 2024
Notes to Financial Statements
Segment Reporting Disclosure [Text Block]	NOTE 10 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 not Our FVS segment focuses on designing and manufacturing walk-in vans for parcel delivery, trades, and construction industries, the production of commercial truck bodies, and the distribution of related aftermarket parts and accessories. Our SV segment consists of service bodies operations, operations that engineer and manufacture motorhome chassis, other specialty chassis and distributes related aftermarket parts and assemblies. We also provide vocation-specific equipment upfit services, which are marketed and sold under the Strobes-R-Us brand. 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. not not Three Months Ended September 30, 2024 Segment FVS SV Eliminations and Other Consolidated Fleet vehicle sales $ 87,773 $ - $ - $ 87,773 Motorhome chassis sales - 11,194 - 11,194 Other specialty vehicle sales - 66,983 850 67,833 Aftermarket parts and accessories sales 18,087 9,188 - 27,275 Total sales $ 105,860 $ 87,365 $ 850 $ 194,075 Depreciation and amortization expense $ 1,717 $ 2,207 $ 1,354 $ 5,278 Adjusted EBITDA 9,828 16,146 (11,630 ) 14,344 Segment assets 202,137 277,225 90,072 569,434 Capital expenditures 250 968 1,856 3,074 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 Nine Months Ended September 30, 2024 Segment FVS SV Eliminations and Other Consolidated Fleet vehicle sales $ 275,495 $ - $ - $ 275,495 Motorhome chassis sales - 60,911 - 60,911 Other specialty vehicle sales - 178,450 926 179,376 Aftermarket parts and accessories sales 47,964 20,998 - 68,962 Total sales $ 323,459 $ 260,359 $ 926 $ 584,744 Depreciation and amortization expense $ 5,486 $ 5,292 $ 3,710 $ 14,488 Adjusted EBITDA 19,131 50,668 (36,895 ) 32,904 Segment assets 202,137 277,225 90,072 569,434 Capital expenditures 1,613 1,574 4,248 7,435 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

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended	9 Months Ended
	Sep. 30, 2024	Sep. 30, 2024
Insider Trading Arr Line Items
Material Terms of Trading Arrangement [Text Block]		Item 5. Other Information During the quarter ended September 30, 2024, no 16a 1 10b5 1 10b5 1 408
Rule 10b5-1 Arrangement Adopted [Flag]	false

Significant Accounting Policies

Significant Accounting Policies (Policies)	9 Months Ended
	Sep. 30, 2024
Accounting Policies [Abstract]
Supplemental Disclosures of Cash Flow Policy [Policy Text Block]	Supplemental Disclosures of Cash Flow Information nine September 30, 2024 September 30, 2023 4 Debt

Note 2 - Acquisition Activiti_2

Note 2 - Acquisition Activities (Tables)	9 Months Ended
	Sep. 30, 2024
Notes Tables
Schedule of Business Acquisitions, by Acquisition [Table Text Block]	Preliminary purchase price: Cash paid $ 50,889 Fair value of contingent consideration 4,300 Total preliminary purchase price $ 55,189
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed [Table Text Block]	Fair value of identifiable assets and liabilities: Cash and cash equivalents $ 2,259 Accounts receivable, less allowance 8,726 Contract assets 341 Inventory 10,745 Other current assets 13 Property, plant and equipment 5,525 Right of use assets-operating leases 33 Other assets 5 Intangible assets 18,650 Goodwill 16,022 Total assets acquired 62,319 Accounts payable (6,395 ) Contract liabilities (17 ) Operating lease liabilities (6 ) Other current liabilities and accrued expenses (685 ) Long-term operating lease liability (27 ) Total liabilities assumed (7,130 ) Total fair value allocation of preliminary purchase price $ 55,189
Schedule of Finite-Lived Intangible Assets Acquired as Part of Business Combination [Table Text Block]	Amount Useful Life Customer relationships $ 11,800 13 Years Backlog 1,600 1 Year Trade names and trademarks 1,600 6 Years Unpatented technology 3,400 10 Years Non-competition agreements 250 5 Years $ 18,650

Note 3 - Inventories (Tables)

Note 3 - Inventories (Tables)	9 Months Ended
	Sep. 30, 2024
Notes Tables
Schedule of Inventory, Current [Table Text Block]	September 30, 2024 December 31, Finished goods $ 5,446 $ 9,374 Work in process 3,089 2,543 Raw materials and purchased components 100,396 93,218 Total inventories $ 108,931 $ 105,135

Note 4 - Debt (Tables)

Note 4 - Debt (Tables)	9 Months Ended
	Sep. 30, 2024
Notes Tables
Schedule of Short-Term Debt [Table Text Block]	September 30, December 31, Chassis pool agreements $ 31,592 $ 34,496 Total short-term debt $ 31,592 $ 34,496
Schedule of Long-Term Debt Instruments [Table Text Block]	September 30, December 31, Line of credit revolver $ 110,000 $ 50,000 Finance lease obligation 482 329 Total debt 110,482 50,329 Less current portion of long-term debt (248 ) (185 ) Total long-term debt $ 110,234 $ 50,144

Note 5 - Revenue (Tables)

Note 5 - Revenue (Tables)	9 Months Ended
	Sep. 30, 2024
Notes Tables
Contract with Customer, Contract Asset, Contract Liability, and Receivable [Table Text Block]	September 30, 2024 September 30, 2023 Contract Assets Contract assets, beginning of period $ 50,305 $ 86,993 Reclassification of the beginning contract assets to receivables, as the result of rights to consideration becoming unconditional (49,445 ) (86,061 ) Contract assets recognized, net of reclassification to receivables 31,377 47,537 Contract assets, end of period $ 32,237 $ 48,469 Contract Liabilities Contract liabilities, beginning of period $ 4,756 $ 5,255 Reclassification of the beginning contract liabilities to revenue, as the result of performance obligations satisfied (4,314 ) (5,182 ) Cash received in advance and not recognized as revenue 5,582 6,160 Contract liabilities, end of period $ 6,024 $ 6,233
Disaggregation of Revenue [Table Text Block]	Three Months Ended September 30, 2024 FVS SV Eliminations and Other Total Primary geographical markets United States $ 101,095 $ 87,188 $ 850 $ 189,133 Other 4,765 177 - 4,942 Total sales $ 105,860 $ 87,365 $ 850 $ 194,075 Timing of revenue recognition Products transferred at a point in time $ 18,087 $ 26,849 $ 850 $ 45,786 Products and services transferred over time 87,773 60,516 - 148,289 Total sales $ 105,860 $ 87,365 $ 850 $ 194,075 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 Nine Months Ended September 30, 2024 FVS SV Eliminations and Other Total Primary geographical markets United States $ 276,822 $ 259,996 $ 926 $ 537,744 Other 46,637 363 - 47,000 Total sales $ 323,459 $ 260,359 $ 926 $ 584,744 Timing of revenue recognition Products transferred at a point in time $ 47,964 $ 100,228 $ 926 $ 149,118 Products and services transferred over time 275,495 160,131 - 435,626 Total sales $ 323,459 $ 260,359 $ 926 $ 584,744 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

Note 6 - Property, Plant and _2

Note 6 - Property, Plant and Equipment (Tables)	9 Months Ended
	Sep. 30, 2024
Notes Tables
Property, Plant and Equipment [Table Text Block]	September 30, 2024 December 31, 2023 Land and improvements $ 14,007 $ 12,578 Buildings and improvements 59,890 53,789 Plant machinery and equipment 66,485 60,517 Furniture and fixtures 20,128 19,474 Vehicles 2,252 2,015 Construction in process 5,665 10,570 Subtotal 168,427 158,943 Accumulated depreciation (84,654 ) (75,506 ) Total property, plant and equipment, net $ 83,773 $ 83,437

Note 7 - Leases (Tables)

Note 7 - Leases (Tables)	9 Months Ended
	Sep. 30, 2024
Notes Tables
Lease, Cost [Table Text Block]	Three Months Ended Nine Months Ended September 30, September 30, 2024 2023 2024 2023 Operating leases $ 3,533 $ 2,808 $ 9,023 $ 8,755 Short-term leases (1) 247 373 893 995 Total lease expense $ 3,780 $ 3,181 $ 9,916 $ 9,750 September 30, 2024 2023 Weighted average remaining lease term of operating leases (in years) 6.8 7.3 Weighted average discount rate of operating leases 3.0 % 2.9 % Nine Months Ended September 30, 2024 2023 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flow for operating leases $ 9,611 $ 8,312 Right of use assets obtained in exchange for lease obligations: Operating leases $ 2,513 $ 10,208 Finance leases $ 430 $ 89
Lessee, Operating Lease, Liability, to be Paid, Maturity [Table Text Block]	Years ending December 31: 2024 (1) $ 2,835 2025 10,769 2026 8,634 2027 5,879 2028 4,219 2029 3,653 Thereafter 10,715 Total lease payments 46,704 Imputed interest (4,446 ) Total lease liabilities $ 42,258

Note 8 - Commitments and Cont_2

Note 8 - Commitments and Contingent Liabilities (Tables)	9 Months Ended
	Sep. 30, 2024
Notes Tables
Schedule of Product Warranty Liability [Table Text Block]	Nine Months Ended September 30, 2024 2023 Balance of accrued warranty at January 1 $ 7,231 $ 7,161 Accruals for warranties issued 3,969 3,023 Changes in liability for pre-existing warranties 902 (1,044 ) Cash settlements (3,335 ) (2,823 ) Acquisition 60 - Balance of accrued warranty at September 30 $ 8,827 $ 6,317

Note 10 - Business Segments (Ta

Note 10 - Business Segments (Tables)	9 Months Ended
	Sep. 30, 2024
Notes Tables
Schedule of Segment Reporting Information, by Segment [Table Text Block]	Three Months Ended September 30, 2024 Segment FVS SV Eliminations and Other Consolidated Fleet vehicle sales $ 87,773 $ - $ - $ 87,773 Motorhome chassis sales - 11,194 - 11,194 Other specialty vehicle sales - 66,983 850 67,833 Aftermarket parts and accessories sales 18,087 9,188 - 27,275 Total sales $ 105,860 $ 87,365 $ 850 $ 194,075 Depreciation and amortization expense $ 1,717 $ 2,207 $ 1,354 $ 5,278 Adjusted EBITDA 9,828 16,146 (11,630 ) 14,344 Segment assets 202,137 277,225 90,072 569,434 Capital expenditures 250 968 1,856 3,074 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 Nine Months Ended September 30, 2024 Segment FVS SV Eliminations and Other Consolidated Fleet vehicle sales $ 275,495 $ - $ - $ 275,495 Motorhome chassis sales - 60,911 - 60,911 Other specialty vehicle sales - 178,450 926 179,376 Aftermarket parts and accessories sales 47,964 20,998 - 68,962 Total sales $ 323,459 $ 260,359 $ 926 $ 584,744 Depreciation and amortization expense $ 5,486 $ 5,292 $ 3,710 $ 14,488 Adjusted EBITDA 19,131 50,668 (36,895 ) 32,904 Segment assets 202,137 277,225 90,072 569,434 Capital expenditures 1,613 1,574 4,248 7,435 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

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, 2024	Sep. 30, 2023
Capital Expenditures Incurred but Not yet Paid	$ 1,541	$ 2,258

Note 2 - Acquisition Activiti_3

Note 2 - Acquisition Activities (Details Textual) - USD ($) $ in Thousands		3 Months Ended	9 Months Ended
	Jul. 24, 2024	Sep. 30, 2024	Sep. 30, 2024	Dec. 31, 2023
Goodwill		$ 64,902	$ 64,902	$ 48,880
Independent Truck Upfitters [Member]
Business Acquisition, Percentage of Voting Interests Acquired	100%
Payments to Acquire Businesses, Gross	$ 50,889
Business Combination, Contingent Consideration Arrangements, Range of Outcomes, Value, High	8,000
Business Combination, Acquisition Related Costs		1,182	1,558
Goodwill	16,022	16,022	16,022
Business Combination, Contingent Consideration, Liability, Current	2,680
Business Combination, Contingent Consideration, Liability, Noncurrent	1,620
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Assets, Other than Goodwill	$ 18,650	18,650	18,650
Amortization of Intangible Assets		$ 587	$ 587

Note 2 - Acquisition Activiti_4

Note 2 - Acquisition Activities - Preliminary Purchase Price (Details) - Independent Truck Upfitters [Member] $ in Thousands	Jul. 24, 2024 USD ($)
Cash paid	$ 50,889
Fair value of contingent consideration	4,300
Total preliminary purchase price	$ 55,189

Note 2 - Acquisition Activiti_5

Note 2 - Acquisition Activities - Allocation of Purchase Price (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Jul. 24, 2024	Dec. 31, 2023
Goodwill	$ 64,902		$ 48,880
Independent Truck Upfitters [Member]
Cash and cash equivalents	2,259
Accounts receivable, less allowance	8,726
Contract assets	341
Inventory	10,745
Other current assets	13
Property, plant and equipment	5,525
Right of use assets-operating leases	33
Other assets	5
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Assets, Other than Goodwill	18,650	$ 18,650
Goodwill	16,022	$ 16,022
Total assets acquired	62,319
Accounts payable	(6,395)
Contract liabilities	(17)
Operating lease liabilities	(6)
Other current liabilities and accrued expenses	(685)
Long-term operating lease liability	(27)
Total liabilities assumed	(7,130)
Total fair value allocation of preliminary purchase price	$ 55,189

Note 2 - Acquisition Activiti_6

Note 2 - Acquisition Activities - Schedule of Intangible Assets Acquired (Details) - Independent Truck Upfitters [Member] $ in Thousands	Jul. 24, 2024 USD ($)
Finite-Lived Intangibles	$ 18,650
Customer Relationships [Member]
Finite-Lived Intangibles	$ 11,800
Finite-Lived Intangible Asset, Useful Life (Year)	13 years
Order or Production Backlog [Member]
Finite-Lived Intangibles	$ 1,600
Finite-Lived Intangible Asset, Useful Life (Year)	1 year
Trademarks and Trade Names [Member]
Finite-Lived Intangibles	$ 1,600
Finite-Lived Intangible Asset, Useful Life (Year)	6 years
Unpatented Technology [Member]
Finite-Lived Intangibles	$ 3,400
Finite-Lived Intangible Asset, Useful Life (Year)	10 years
Noncompete Agreements [Member]
Finite-Lived Intangibles	$ 250
Finite-Lived Intangible Asset, Useful Life (Year)	5 years

Note 3 - Inventories - Summary

Note 3 - Inventories - Summary of Inventories (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Finished goods	$ 5,446	$ 9,374
Work in process	3,089	2,543
Raw materials and purchased components	100,396	93,218
Total inventories	$ 108,931	$ 105,135

Note 4 - Debt (Details Textual)

Note 4 - Debt (Details Textual) - USD ($) $ in Thousands		9 Months Ended
	Mar. 27, 2024	Sep. 30, 2024	Dec. 31, 2023
Letters of Credit Outstanding, Amount		$ 1,900	$ 1,550
Lenders [Member] | Revolving Credit Facility [Member]
Line of Credit Facility, Maximum Borrowing Capacity	$ 300,000		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		6.45%
Line of Credit Facility, Current Borrowing Capacity		$ 34,114	$ 83,243
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	1.50%	1.50%
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	$ 15,000

Note 4 - Debt - Short-term Debt

Note 4 - Debt - Short-term Debt (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Short-term debt	$ 31,592	$ 34,496
Chassis Pool Agreements [Member]
Short-term debt	$ 31,592	$ 34,496

Note 4 - Debt - Schedule of Lon

Note 4 - Debt - Schedule of Long-term Debt (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Line of credit revolver	$ 110,000	$ 50,000
Finance lease obligation	482	329
Total debt	110,482	50,329
Less current portion of long-term debt	(248)	(185)
Total long-term debt	$ 110,234	$ 50,144

Note 5 - Revenue (Details Textu

Note 5 - Revenue (Details Textual) $ in Thousands	Sep. 30, 2024 USD ($)
Fleet Vehicles and Services [Member]
Revenue, Remaining Performance Obligation, Amount	$ 267,952
Specialty Vehicles [Member]
Revenue, Remaining Performance Obligation, Amount	$ 77,456

Note 5 - Revenue - Contract Ass

Note 5 - Revenue - Contract Assets and Liabilities (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023
Contract assets, balance	$ 50,305	$ 86,993
Reclassification of the beginning contract assets to receivables, as the result of rights to consideration becoming unconditional	(49,445)	(86,061)
Contract assets recognized, net of reclassification to receivables	31,377	47,537
Contract assets, balance	32,237	48,469
Contract liabilities, balance	4,756	5,255
Reclassification of the beginning contract liabilities to revenue, as the result of performance obligations satisfied	(4,314)	(5,182)
Cash received in advance and not recognized as revenue	5,582	6,160
Contract liabilities, balance	$ 6,024	$ 6,233

Note 5 - Revenue - Disaggregate

Note 5 - Revenue - Disaggregated Revenue (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Revenues	$ 194,075	$ 201,325	$ 584,744	$ 669,865
Operating Segments [Member]
Revenues	850	444	926	(4,180)
Operating Segments [Member] | Transferred at Point in Time [Member]
Revenues	850	467	926	467
Operating Segments [Member] | Transferred over Time [Member]
Revenues	0	(23)	0	(4,647)
Consolidation, Eliminations [Member]
Revenues	194,075	201,325	584,744	669,865
Consolidation, Eliminations [Member] | Transferred at Point in Time [Member]
Revenues	45,786	50,532	149,118	152,058
Consolidation, Eliminations [Member] | Transferred over Time [Member]
Revenues	148,289	150,793	435,626	517,807
Fleet Vehicles and Services [Member] | Operating Segments [Member]
Revenues	105,860	124,259	323,459	422,675
Fleet Vehicles and Services [Member] | Operating Segments [Member] | Transferred at Point in Time [Member]
Revenues	18,087	15,768	47,964	41,614
Fleet Vehicles and Services [Member] | Operating Segments [Member] | Transferred over Time [Member]
Revenues	87,773	108,491	275,495	381,061
Specialty Vehicles [Member] | Operating Segments [Member]
Revenues	87,365	76,622	260,359	251,370
Specialty Vehicles [Member] | Operating Segments [Member] | Transferred at Point in Time [Member]
Revenues	26,849	34,297	100,228	109,977
Specialty Vehicles [Member] | Operating Segments [Member] | Transferred over Time [Member]
Revenues	60,516	42,325	160,131	141,393
UNITED STATES | Operating Segments [Member]
Revenues	850	444	926	(4,180)
UNITED STATES | Consolidation, Eliminations [Member]
Revenues	189,133	199,673	537,744	648,243
UNITED STATES | Fleet Vehicles and Services [Member] | Operating Segments [Member]
Revenues	101,095	122,626	276,822	401,117
UNITED STATES | Specialty Vehicles [Member] | Operating Segments [Member]
Revenues	87,188	76,603	259,996	251,306
Non-US [Member] | Operating Segments [Member]
Revenues	0	0	0	0
Non-US [Member] | Consolidation, Eliminations [Member]
Revenues	4,942	1,652	47,000	21,622
Non-US [Member] | Fleet Vehicles and Services [Member] | Operating Segments [Member]
Revenues	4,765	1,633	46,637	21,558
Non-US [Member] | Specialty Vehicles [Member] | Operating Segments [Member]
Revenues	$ 177	$ 19	$ 363	$ 64

Note 6 - Property, Plant and _3

Note 6 - Property, Plant and Equipment (Details Textual) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Depreciation	$ 3,822	$ 3,358	$ 11,294	$ 9,503

Note 6 - Property, Plant and _4

Note 6 - Property, Plant and Equipment - Summary of Property, Plant, and Equipment (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Property, plant and equipment, gross	$ 168,427	$ 158,943
Accumulated depreciation	(84,654)	(75,506)
Total property, plant and equipment, net	83,773	83,437
Land and Land Improvements [Member]
Property, plant and equipment, gross	14,007	12,578
Building and Building Improvements [Member]
Property, plant and equipment, gross	59,890	53,789
Machinery and Equipment [Member]
Property, plant and equipment, gross	66,485	60,517
Furniture and Fixtures [Member]
Property, plant and equipment, gross	20,128	19,474
Vehicles [Member]
Property, plant and equipment, gross	2,252	2,015
Construction in Progress [Member]
Property, plant and equipment, gross	$ 5,665	$ 10,570

Note 7 - Leases (Details Textua

Note 7 - Leases (Details Textual)	9 Months Ended
	Sep. 30, 2024
Minimum [Member]
Leases, Remaining Lease Terms (Year)	1 year
Maximum [Member]
Leases, Remaining Lease Terms (Year)	16 years
Lessee, Operating Lease, Renewal Term (Year)	15 years

Note 7 - Leases - Lease Expense

Note 7 - Leases - Lease Expense and Information (Details) - USD ($) $ in Thousands		3 Months Ended		9 Months Ended
		Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Operating leases		$ 3,533	$ 2,808	$ 9,023	$ 8,755
Short-term leases(1)	[1]	247	373	893	995
Total lease expense		$ 3,780	$ 3,181	$ 9,916	$ 9,750
Weighted average remaining lease term of operating leases (in years) (Year)		6 years 9 months 18 days	7 years 3 months 18 days	6 years 9 months 18 days	7 years 3 months 18 days
Weighted average discount rate of operating leases		3%	2.90%	3%	2.90%
Operating cash flow for operating leases				$ 9,611	$ 8,312
Operating leases				2,513	10,208
Finance leases				$ 430	$ 89
[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 7 - Leases - Future Minimu

Note 7 - Leases - Future Minimum Operating Lease Commitments Under Non-cancelable Operating Lease (Details) $ in Thousands	Sep. 30, 2024 USD ($)
2024(1)	$ 2,835	[1]
2025	10,769
2026	8,634
2027	5,879
2028	4,219
2029	3,653
Thereafter	10,715
Total lease payments	46,704
Imputed interest	(4,446)
Total lease liabilities	$ 42,258
[1]Excluding the nine months ended September 30, 2024.

Note 8 - Commitments and Cont_3

Note 8 - Commitments and Contingent Liabilities (Details Textual) - Possible EPA Violation [Member] - USD ($) $ in Millions	Sep. 27, 2024	Sep. 30, 2024
Litigation Settlement, Amount Awarded to Other Party	$ 2
Loss Contingency Accrual		$ 2

Note 8 - Commitments and Cont_4

Note 8 - Commitments and Contingent Liabilities - Changes in Warranty Liability (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023
Balance of accrued warranty	$ 7,231	$ 7,161
Accruals for warranties issued	3,969	3,023
Changes in liability for pre-existing warranties	902	(1,044)
Cash settlements	(3,335)	(2,823)
Acquisition	60	0
Balance of accrued warranty	$ 8,827	$ 6,317

Note 9 - Taxes on Income (Detai

Note 9 - Taxes on Income (Details Textual) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Income Tax Expense (Benefit)	$ (48)	$ (1,951)	$ 626	$ (965)
Effective Income Tax Rate Reconciliation, Percent	(1.60%)	(76.00%)	50.30%	(9.70%)
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent			21%	21%

Note 10 - Business Segments (De

Note 10 - Business Segments (Details Textual)	9 Months Ended
	Sep. 30, 2024
Number of Reportable Segments	2

Note 10 - Business Segments - S

Note 10 - Business Segments - Segment Reporting Information (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023	Dec. 31, 2023
Revenues	$ 194,075	$ 201,325	$ 584,744	$ 669,865
Depreciation and amortization expense			14,488	12,360
Segment assets	569,434		569,434		$ 530,049
Capital expenditures			11,482	16,143
Operating Segments [Member]
Revenues	850	444	926	(4,180)
Operating Segments [Member] | Fleet Vehicles and Services [Member]
Revenues	105,860	124,259	323,459	422,675
Operating Segments [Member] | Specialty Vehicles [Member]
Revenues	87,365	76,622	260,359	251,370
Continuing Operations [Member]
Revenues	194,075	201,325	584,744	669,865
Depreciation and amortization expense	5,278	4,310	14,488	12,360
Adjusted EBITDA	14,344	10,988	32,904	37,643
Segment assets	569,434	535,461	569,434	535,461
Capital expenditures	3,074	5,453	7,435	17,634
Continuing Operations [Member] | Fleet Vehicle Sales [Member]
Revenues	87,773	108,491	275,495	381,061
Continuing Operations [Member] | Motorhome Chassis [Member]
Revenues	11,194	20,519	60,911	78,578
Continuing Operations [Member] | Other Specialty Vehicles [Member]
Revenues	67,833	51,001	179,376	152,726
Continuing Operations [Member] | Aftermarket Parts and Accessories Sales [Member]
Revenues	27,275	21,314	68,962	57,500
Continuing Operations [Member] | Operating Segments [Member] | Fleet Vehicles and Services [Member]
Revenues	105,860	124,259	323,459	422,675
Depreciation and amortization expense	1,717	1,700	5,486	4,679
Adjusted EBITDA	9,828	7,977	19,131	32,918
Segment assets	202,137	254,729	202,137	254,729
Capital expenditures	250	750	1,613	4,317
Continuing Operations [Member] | Operating Segments [Member] | Fleet Vehicles and Services [Member] | Fleet Vehicle Sales [Member]
Revenues	87,773	108,491	275,495	381,061
Continuing Operations [Member] | Operating Segments [Member] | Fleet Vehicles and Services [Member] | Motorhome Chassis [Member]
Revenues	0	0	0	0
Continuing Operations [Member] | Operating Segments [Member] | Fleet Vehicles and Services [Member] | Other Specialty Vehicles [Member]
Revenues	0	0	0	0
Continuing Operations [Member] | Operating Segments [Member] | Fleet Vehicles and Services [Member] | Aftermarket Parts and Accessories Sales [Member]
Revenues	18,087	15,768	47,964	41,614
Continuing Operations [Member] | Operating Segments [Member] | Specialty Vehicles [Member]
Revenues	87,365	76,622	260,359	251,370
Depreciation and amortization expense	2,207	1,659	5,292	5,038
Adjusted EBITDA	16,146	15,988	50,668	47,207
Segment assets	277,225	219,204	277,225	219,204
Capital expenditures	968	1,006	1,574	2,185
Continuing Operations [Member] | Operating Segments [Member] | Specialty Vehicles [Member] | Fleet Vehicle Sales [Member]
Revenues	0	0	0	0
Continuing Operations [Member] | Operating Segments [Member] | Specialty Vehicles [Member] | Motorhome Chassis [Member]
Revenues	11,194	20,519	60,911	78,578
Continuing Operations [Member] | Operating Segments [Member] | Specialty Vehicles [Member] | Other Specialty Vehicles [Member]
Revenues	66,983	50,557	178,450	156,906
Continuing Operations [Member] | Operating Segments [Member] | Specialty Vehicles [Member] | Aftermarket Parts and Accessories Sales [Member]
Revenues	9,188	5,546	20,998	15,886
Continuing Operations [Member] | Segment Reporting, Reconciling Item, Excluding Corporate Nonsegment [Member]
Revenues	850	444	926	(4,180)
Depreciation and amortization expense	1,354	951	3,710	2,643
Adjusted EBITDA	(11,630)	(12,977)	(36,895)	(42,482)
Segment assets	90,072	61,528	90,072	61,528
Capital expenditures	1,856	3,697	4,248	11,132
Continuing Operations [Member] | Segment Reporting, Reconciling Item, Excluding Corporate Nonsegment [Member] | Fleet Vehicle Sales [Member]
Revenues	0	0	0	0
Continuing Operations [Member] | Segment Reporting, Reconciling Item, Excluding Corporate Nonsegment [Member] | Motorhome Chassis [Member]
Revenues	0	0	0	0
Continuing Operations [Member] | Segment Reporting, Reconciling Item, Excluding Corporate Nonsegment [Member] | Other Specialty Vehicles [Member]
Revenues	850	444	926	(4,180)
Continuing Operations [Member] | Segment Reporting, Reconciling Item, Excluding Corporate Nonsegment [Member] | Aftermarket Parts and Accessories Sales [Member]
Revenues	$ 0	$ 0	$ 0	$ 0