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The Shyft Group, Inc. (NASDAQ: SHYF) is the North American leader in the manufacturing, assembly, and upfit of specialty vehicles for the commercial, retail, and service markets. Headquartered in Novi, Michigan, the company boasts a rich history that began with custom chassis engineering and has since expanded into specialized vehicle design and custom manufacturing.
Shyft Group's extensive portfolio includes walk-in vans, truck bodies, cargo vans, and pickup truck upfits, primarily used in e-commerce and parcel delivery. The company also serves the mobile retail and utility trades, offering a range of products built for demanding vocations. One of their standout offerings is the luxury Class A diesel motorhome chassis, demonstrating their versatility and high manufacturing standards.
Recently, Shyft has focused on innovation and sustainability with its Blue Arc™ EV Solutions, targeting the growing electric vehicle (EV) market. The company has secured a significant order from FedEx for 150 Blue Arc™ EV trucks, highlighting their commitment to reducing carbon emissions and advancing green technology. These EVs have been rigorously tested under real-world conditions and have shown impressive performance, including regenerative braking capabilities.
Financially, Shyft reported sales of $872 million in 2023, reflecting robust demand and a strong market presence. The company operates across multiple states in the U.S. and in Saltillo, Mexico, employing approximately 3,000 people. Shyft's strategic partnerships with Tier 1 suppliers like Akebono, Bosch, Dana, Hendrickson, and Modine ensure high-quality, commercial-grade solutions for their vehicles.
The Shyft Group continually enhances its service offerings, recently partnering with Amerit Fleet Solutions to provide 24/7 maintenance support for their Blue Arc™ EV trucks. This partnership ensures minimal downtime and maximizes fleet efficiency, exemplifying Shyft's customer-centric approach.
For the first quarter of 2024, Shyft reported improved commercial activity and a solid performance in their Specialty Vehicles business. Despite a challenging demand environment, the company remains focused on operational efficiency and long-term growth initiatives.
- Core Business Segments: Shyft Fleet Vehicles and Services™, Shyft Specialty Vehicles™.
- Products: Walk-in vans, truck bodies, cargo vans, pickup truck upfits, custom chassis for luxury RVs, Blue Arc™ EV trucks.
- Services: Replacement parts, repair, maintenance, field service, refurbishment services.
- Key Brands: Utilimaster®, Blue Arc™ EV Solutions, Royal® Truck Body, DuraMag® and Magnum®, Strobes-R-Us™, Spartan® RV Chassis, Red Diamond™ Aftermarket Solutions, Builtmore Contract Manufacturing™.
Shyft remains committed to driving shareholder value through strategic investments, operational excellence, and a focus on customer satisfaction. Learn more at TheShyftGroup.com.
The Shyft Group (NASDAQ: SHYF), a leader in specialty vehicle manufacturing, announced participation in the Deutsche Bank 2022 Industrials Conference on November 15, 2022, and the 13th Annual Craig-Hallum Alpha Select Conference on November 17, 2022, in New York City. The company aims to engage in one-on-one meetings with institutional investors during both events. Shyft provides vehicles for delivery companies and government entities, boasting a workforce of approximately 3,800 and reported sales of $992 million in 2021.
The Shyft Group (NASDAQ: SHYF), a leader in specialty vehicle manufacturing, announced that CEO Daryl Adams and CFO Jon Douyard will speak at the 2022 Baird Global Industrial Conference on November 8, 2022, in Chicago. The management team will conduct one-on-one meetings and a fireside chat at 4:40 PM CT, which will be available via live webcast on the Shyft Group Investor Relations website. The company reported sales of $992 million in 2021 and employs approximately 3,800 individuals across various states and Mexico.
The Shyft Group, Inc. (NASDAQ: SHYF) announced a quarterly cash dividend of $0.05 per share, payable on December 15, 2022, to shareholders recorded by the close of business on November 16, 2022. The company, a leader in specialty vehicle manufacturing, reported sales of $992 million in 2021 and employs around 3,800 people across its facilities in North America and Mexico.
The Shyft Group reported a 4.9% increase in sales to $286.1 million for Q3 2022, despite a net income decline to $17.3 million from $21.0 million a year prior. Adjusted EBITDA fell to $27.1 million, influenced by $7.7 million in EV development expenses. The backlog reached $1 billion, up 22.4% year-over-year, demonstrating strong demand. The Company tightened its full-year EPS outlook, anticipating earnings per share between $0.83 and $1.05, citing supply chain challenges but expressing optimism for Q4 performance.
The Shyft Group, Inc. (NASDAQ: SHYF) will announce its third quarter 2022 results on October 27, prior to market opening. A conference call is scheduled for the same day at 10 a.m. ET to discuss these results. Shyft is a leader in specialty vehicle manufacturing for the commercial and retail sectors, with a notable presence in the ecommerce-driven parcel delivery market. The company reported $992 million in sales for 2021 and employs about 3,800 people across its various facilities in North America and Mexico.
The Shyft Group, through its Blue Arc™ EV Solutions brand, is advancing the electrification of commercial vehicles. They have secured a pre-order for 2,000 all-electric delivery vans from the Randy Marion Dealer Group. Utilizing nearly 50 years of expertise, the company has partnered with leading Tier 1 suppliers like Bosch and Dana for critical vehicle systems. The all-electric vans offer 150-mile range on a single charge and multiple configurations for varying delivery needs. An investor update will be provided later today to discuss the prospects of this initiative.
The Shyft Group (NASDAQ: SHYF), a leader in specialty vehicle manufacturing, will participate in the D.A. Davidson 21st Annual Diversified Industrials & Services Conference on September 22, 2022, in Nashville, TN. CEO Daryl Adams and CFO Jon Douyard will engage in one-on-one meetings and a fireside chat at 10:15 A.M. Central Time, which will be webcast live via the Shyft Group Investor Relations website. The company reported sales of $992 million in 2021 and employs around 3,800 staff across multiple U.S. facilities.
Spartan RV Chassis, a brand of The Shyft Group (NASDAQ: SHYF), announced the launch of its innovative Tri-Pod Steering Wheel at the 2022 Hershey RV Show, designed to enhance safety and convenience in luxury motorcoaches. This new steering wheel features controls at the driver’s fingertips, integrating with a 15-inch anti-glare digital dash tailored for RV customers. It is now standard on select 2023 models from Entegra, Foretravel, and Newmar. The Tri-Pod Steering Wheel represents Spartan's commitment to merging luxury with safety, following the launch of its Premier Drive chassis system earlier this year.
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