Shyft Group Inc/The

The Shyft Group, Inc. engages in vehicle manufacturing and assembly for the commercial and retail vehicle industries as well as for the emergency response and recreational vehicle markets. It operates through the Fleet Vehicles and Services, and Specialty Vehicles segments. The Fleet Vehicles and Services segment manufactures commercial vehicles used in the e-commerce/last mile/parcel delivery, beverage and grocery delivery, mobile retail, and trades and construction industries. The Specialty Vehicles segment deals with the engineering and manufacturing diesel motor home chassis, the provision of specialty vehicles and other commercial vehicles, and the distribution of related aftermarket parts and accessories. The company was founded by William F. Foster, George Sztykiel, Gerald Geary, and John Knox on September 18, 1975 and is headquartered in Novi, MI.

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Shyft Group Inc achieves record sales in 2022 amidst supply chain challenges

Shyft Group Inc faces supply chain challenges but maintains optimism with strong sales performance and growth initiatives. Anticipated slower operational growth in 2023 with a focus on maintaining a strong balance sheet.

Shyft Group reports strong Q1 performance and bullish 2023 outlook

Shyft Group's Q1 2023 performance showcased robust sales growth, improved profitability, and strategic advancements in EV development and specialty vehicles.
While facing challenges with backlog levels and operational efficiency, the company's strong focus on cash flow, balance sheet strength, and investments bode well for future growth.
Opportunities lie in capitalizing on strong customer demand, EV market trends, and the positive sales outlook for 2023 to drive continued success and shareholder value.
Overall, Shyft Group's solid start to the year sets a positive tone for future growth and market expansion, underpinned by a commitment to innovation and financial strength.

Shyft Group reports mixed Q2 results, focuses on cost-cutting and EV growth

Shyft Group's Q2 2023 showed mixed results with sales decline but increased adjusted EBITDA, driven by strong specialty vehicle performance.
Despite market challenges, the company is focused on cost-cutting measures, Blue Arc EV progress, and maintaining a strong financial position.
Challenges in last mile delivery and FES segments are being addressed, while opportunities in potential demand increase and strategic adjustments are noted.
Overall, the company is navigating market challenges while positioning for future growth opportunities and expressing gratitude to investors.

Shyft Group reports record Q3 profitability and focuses on sustainability

Shyft Group's Q3 performance showcased resilience and strategic investments, with a focus on sustainability and market opportunities.
While facing challenges in certain segments and revised outlook, the company's strong balance sheet and leadership transition position it for future growth.
Opportunities lie in leveraging sustainability efforts, market trends, and innovation to drive growth and enhance competitiveness in the industry.

Shyft Group Inc. reports solid 2023 results, eyes growth opportunities

Shyft Group Inc. shows strong financial performance in 2023 with a focus on operational excellence and customer-centric strategies.
Record profitability in the Specialty Vehicles segment highlights operational strength and potential for growth.
Challenges include sales decline in the Fleet Vehicles & Services segment and a cautious view on near-term demand.
Opportunities lie in enhancing operational efficiency, adjusting sales strategies, and capitalizing on the Blue Arc EV program.

Shyft Group reports mixed Q1 results, affirms 2024 outlook

Shyft Group Inc/The (SHYF) reported mixed Q1 2024 results with strong performance in the specialty vehicle segment.
Challenges included soft parcel order activity impacting FVS sales and profitability.
The company remains focused on growth opportunities, including the Blue ARC EV program and infrastructure expansion.
Overall, Shyft Group reaffirmed its 2024 outlook, signaling confidence in future performance.

Shyft Group Inc reports robust Q2 performance and growth outlook

The Shyft Group's Q2 2024 performance reflects solid sales, profitability, and strategic acquisitions driving growth.
While challenges in integration and market dynamics exist, the company's focus on efficiency and growth presents opportunities for expansion.
Maintaining financial commitments and investing in future growth will be key to sustaining momentum and capitalizing on market opportunities.

Shyft Group Inc reports robust Q3 results, eyes EV market

SHYF's Q3 2024 performance reflects solid financial results, operational efficiency, and segment-wise strength, positioning the company for future growth.
The company's strategic initiatives, including acquisitions and EV production, demonstrate a commitment to innovation and market responsiveness.
While facing challenges in achieving financial breakeven for Blue Arc and addressing analyst inquiries, SHYF remains optimistic about its outlook and growth potential.

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First quarter sales of $198 million; Quarter end consolidated backlog of $439 million with FVS backlog up 10% sequentially Maintains 2024 outlook with sales of $850 to $900 million and adjusted EBITDA of $40 to $50 million NOVI, Mich. , April 25, 2024 /PRNewswire/ -- The Shyft Group, Inc. (NASDAQ: SHYF) ("Shyft" or the "Company"), the North American leader in specialty vehicle manufacturing, assembly and upfit for the commercial, retail and service specialty vehicle markets, today reported operating results for the first quarter ending March 31, 2024.

The Shyft Group Reports First Quarter 2024 Results

NOVI, Mich., April 16, 2024 /PRNewswire/ -- The Shyft Group, Inc. (NASDAQ: SHYF) ("Shyft" or the "Company"), the North American leader in specialty vehicle manufacturing, assembly, and upfit for ecommerce-driven parcel delivery, as well as the broader commercial, retail, and service specialty vehicle markets, will announce its first quarter 2024 financial results prior to the market opening on Thursday, April 25, 2024.

The Shyft Group Announces First Quarter 2024 Financial Results Conference Call

The Shyft Group (SHYF) witnessed a jump in share price last session on above-average trading volume. The latest trend in earnings estimate revisions for the stock doesn't suggest further strength down the road.

The Shyft Group (SHYF) Surges 5.4%: Is This an Indication of Further Gains?

INDIANAPOLIS--(BUSINESS WIRE)--Model 1 Commercial Vehicles, the nation's largest bus and transportation services dealer, has signed a national distribution agreement with The Shyft Group, who through its family of brands, engineers, assembles, services and upfits vehicles in various segments, including government services, delivery and service markets, and recreational vehicles. For Model 1, the agreement adds an expansive commercial product offering, which supports vehicle upfitting and second.

Model 1 Enters a National Distribution Agreement with The Shyft Group; Expanding its Commercial Product Offerings and Upfit Capabilities

Program provides seamless, cost-efficient solutions for mutual customers of Shyft and Ford Program provides seamless, cost-efficient solutions for mutual customers of Shyft and Ford

The Shyft Group Achieves Ford Pro Upfitter Designation

NOVI, Mich., March 04, 2024 (GLOBE NEWSWIRE) -- The Shyft Group, Inc. (NASDAQ: SHYF) (the “Company”), the North American leader in specialty vehicle manufacturing, assembly, and upfit for the commercial, retail, and service specialty vehicle markets, announced that management will be hosting analysts and investors at upcoming sell-side conferences and an industry tradeshow in March.

The Shyft Group Announces March 2024 Analyst & Investor Events

Advanced work truck solutions highlight the collective expertise of Shyft's diverse brand portfolio CEO John Dunn to present latest advancements in work truck innovations, accessories, and last-mile delivery solutions NOVI, Mich., Feb. 29, 2024 (GLOBE NEWSWIRE) -- Leveraging a broad spectrum of advanced work truck solutions, The Shyft Group, Inc. (NASDAQ: SHYF), will highlight its industry leadership and integrated brand strengths at Work Truck Week 2024 in Indianapolis, March 6-8.

The Shyft Group to Showcase Innovation and Customer-Centric Solutions at Work Truck Week 2024

The Shyft Group, Inc. (SHYF) Q4 2023 Earnings Call Transcript

The Shyft Group (SHYF) came out with a quarterly loss of $0.03 per share versus the Zacks Consensus Estimate of a loss of $0.06. This compares to earnings of $0.58 per share a year ago.

The Shyft Group (SHYF) Reports Q4 Loss, Lags Revenue Estimates

NOVI, Mich., Feb. 22, 2024 (GLOBE NEWSWIRE) -- The Shyft Group, Inc. (NASDAQ: SHYF) (“Shyft” or the “Company”), the North American leader in specialty vehicle manufacturing, assembly and upfit for the commercial, retail and service specialty vehicle markets, today reported operating results for the fourth quarter and full-year ending December 31, 2023.

The Shyft Group Reports Fourth Quarter and Full-Year 2023 Results

NOVI, Mich., Feb. 02, 2024 (GLOBE NEWSWIRE) -- The Shyft Group, Inc. (NASDAQ: SHYF) (“Shyft” or the “Company”), the North American leader in specialty vehicle manufacturing, assembly, and upfit for ecommerce-driven parcel delivery, as well as the broader commercial, retail, and service specialty vehicle markets, will announce its fourth quarter and year-end 2023 financial results prior to the market opening on Thursday, February 22, 2024. A conference call and webcast will begin at 8:30 A.M. Eastern Time.

The Shyft Group Announces Fourth Quarter and Year-End 2023 Financial Results Conference Call

Revenues have declined significantly for three consecutive quarters as demand is stabilizing after a strong 2021 and 2022. Profit margins are suffering due to weaker volumes and inflationary pressures. The balance sheet is very strong thanks to very high inventories and receivables.

The Shyft Group: Great Long-Term Upside Potential, But Short-Term Risks Remain

NOVI, Mich., Jan. 09, 2024 (GLOBE NEWSWIRE) -- The Shyft Group (NASDAQ: SHYF) (“Shyft” or “the Company”), the North American leader in specialty vehicle manufacturing, announced that it has appointed Jacob Farmer as President of Fleet Vehicles and Services (FVS), effective today, reporting to John Dunn, President and CEO.

The Shyft Group Announces Segment Leadership Update

NOVI, Mich., Nov. 07, 2023 (GLOBE NEWSWIRE) -- The Shyft Group, Inc. (NASDAQ: SHYF) (the “Company”), the North American leader in specialty vehicle manufacturing, assembly, and upfit for the commercial, retail, and service specialty vehicle markets, today announced that Jon Douyard, Chief Financial Officer, will participate in the Baird 2023 Global Industrial Conference in Chicago on November 7, 2023. The Company will be hosting one-on-one meetings with institutional investors throughout the day.

The Shyft Group to Participate in the Baird 2023 Global Industrial Conference

The Shyft Group, Inc. (NASDAQ:SHYF ) Q3 2023 Earnings Conference Call October 26, 2023 8:30 AM ET Company Participants Randy Wilson - VP, IR and Treasury John Dunn - Incoming President and CEO Daryl Adams - Outgoing President and CEO Jon Douyard - CFO Conference Call Participants Matt Koranda - ROTH Capital Greg Lewis - BTIG Mike Shlisky - D.A. Davidson Operator Good morning and welcome to the Shyft Group's Third Quarter 2023 Conference Call and Webcast.

The Shyft Group, Inc. (SHYF) Q3 2023 Earnings Call Transcript

The Shyft Group (SHYF) came out with quarterly earnings of $0.19 per share, beating the Zacks Consensus Estimate of $0.08 per share. This compares to earnings of $0.53 per share a year ago.

The Shyft Group (SHYF) Tops Q3 Earnings Estimates

NOVI, Mich.--(BUSINESS WIRE)--The Shyft Group (NASDAQ: SHYF) (“Shyft” or “the Company”), the North American leader in specialty vehicle manufacturing, announced that it has appointed John Dunn, as President and CEO of the Company, effective today. Dunn, who previously served as President of Shyft's Fleet Vehicles and Services, will also join the Board of Directors. In connection with the Company's previously announced leadership transition plan, Daryl Adams, current President and CEO, will step.

The Shyft Group Appoints John Dunn as President and CEO

Shyft generated $9.2 million of cash from operations; repurchased $10.3 million of shares Specialty Vehicles segment delivered record margin performance

The Shyft Group Reports Third Quarter 2023 Results

NOVI, Mich., Oct. 10, 2023 (GLOBE NEWSWIRE) -- The Shyft Group, Inc. (NASDAQ: SHYF) (“Shyft” or the “Company”), the North American leader in specialty vehicle manufacturing, assembly, and upfit for ecommerce-driven parcel delivery, as well as the broader commercial, retail, and service specialty vehicle markets, will announce its third quarter 2023 financial results prior to the market opening on Thursday, October 26, 2023. A conference call and webcast will begin at 8:30 a.m. ET.

The Shyft Group to Announce Third Quarter 2023 Financial Results on October 26, 2023

Rush Enterprises operates the largest network of commercial vehicle dealerships in North America Initial focus to sell and service Blue Arc Class 3, 4, and 5 all-electric last mile delivery vehicles through select Rush Truck Centers NOVI, Mich. and SAN ANTONIO, Oct. 02, 2023 (GLOBE NEWSWIRE) -- The Shyft Group, Inc. (NASDAQ: SHYF), the North American leader in specialty vehicle manufacturing, assembly, and upfit for the commercial, retail, and service specialty vehicle markets, today announced it has finalized an agreement with Rush Enterprises, which operates the largest network of commercial vehicle dealerships in North America, to sell and service the Company's Blue Arc™ Class 3, 4 and 5 all-electric delivery vehicles.

The Shyft Group Signs Agreement With Rush Enterprises Commercial Vehicle Dealer Group for Sales and Service of Blue Arc™ Electric Vehicles

After The Shyft Group, Inc.'s successful transformation that led to stellar financial results from 2016-2021, the company is facing both short-term and long-term uncertainties. Short term, the company's earnings will likely be dictated by demand trends for RVs and last-mile delivery vehicles. Over the long-term, Shyft's success will be determined by its Blue Arc EV roll-out as e-commerce companies invest in electric fleets.

The Shyft Group: Facing Both Short-Term And Long-Term Questions

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NOVI, Mich., Sept. 19, 2023 (GLOBE NEWSWIRE) -- The Shyft Group, Inc. (NASDAQ: SHYF) (the “Company”), the North American leader in specialty vehicle manufacturing, assembly, and upfit for the commercial, retail, and service specialty vehicle markets, today announced that Daryl Adams, President and Chief Executive Officer, and Jon Douyard, Chief Financial Officer, will attend and present at the D.A. Davidson 22nd Annual Diversified Industrials & Services Conference in Nashville, Tennessee on September 21, 2023.

The Shyft Group to Attend and Present at the D.A. Davidson 22nd Annual Diversified Industrials & Services Conference

Affirms commitment to Environmental, Social, and Governance principles Demonstrates progress across initiatives that advance sustainability, promote diversity, equity and inclusion, and enhance corporate transparency NOVI, Mich., Sept. 14, 2023 (GLOBE NEWSWIRE) -- The Shyft Group, Inc. (NASDAQ: SHYF) today published its 2023 sustainability report, Charging Towards a Sustainable Future, highlighting the company's sustainability activities, performance and results from calendar year 2022.

The Shyft Group Releases 2023 Sustainability Report

NOVI, Mich., Sept. 12, 2023 (GLOBE NEWSWIRE) -- The Shyft Group, Inc. (NASDAQ: SHYF) (the “Company”), the North American leader in specialty vehicle manufacturing, assembly, and upfit for the commercial, retail, and service specialty vehicle markets, today announced that Jon Douyard, Chief Financial Officer, will participate in the 2023 RBC Capital Markets Global Industrials Conference in Las Vegas, NV, on September 13, 2023. The Company will be hosting a breakout session and one-on-one meetings with institutional investors throughout the day.

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