Financial Performance - Sales for Q1 2025 were $204.6 million, an increase of $6.7 million or 3.4% from $197.9 million in Q1 2024[4] - Adjusted EBITDA for Q1 2025 was $12.3 million, representing 6.0% of sales, up from $6.1 million or 3.1% of sales in Q1 2024[4] - The net loss for Q1 2025 was $1.4 million, or ($0.04) per share, compared to a loss of $4.7 million, or ($0.14) per share in Q1 2024[4] - Adjusted net income for Q1 2025 was $2.4 million, or $0.07 per share, compared to a loss of $1.4 million, or ($0.04) per share in Q1 2024[4] - Gross profit increased to $40,302,000 in Q1 2025, up from $34,062,000 in Q1 2024, reflecting a gross margin improvement[17] - The net loss for Q1 2025 was $1,436,000, a significant reduction from a net loss of $4,669,000 in Q1 2024, indicating improved financial performance[17] - Basic loss per share improved to $(0.04) in Q1 2025 from $(0.14) in Q1 2024, reflecting better operational efficiency[17] Backlog and Future Sales - Consolidated backlog as of March 31, 2025, was $335.3 million, down $104.1 million or 23.7% from $439.4 million as of March 31, 2024[4] - The company reported a total backlog of $335,334,000 as of March 31, 2025, compared to $313,244,000 at the end of Q1 2024, indicating growth in future sales potential[25] - The company expects full-year 2025 sales to be between $870 million and $970 million, with adjusted EBITDA projected at $62 million to $72 million[5] Operational Efficiency and Investment - The company is focused on operational efficiency and commercial growth initiatives to capture market share[3] - The company incurred $3,887,000 in research and development expenses in Q1 2025, up from $3,719,000 in Q1 2024, highlighting ongoing investment in innovation[17] - Total operating expenses increased to $38,553,000 in Q1 2025 from $35,992,000 in Q1 2024, primarily driven by higher selling, general, and administrative costs[17] Cash Flow and Financing - Cash flows from operating activities resulted in a net cash used of $4,519,000 in Q1 2025, compared to $3,957,000 in Q1 2024[37] - The company generated $9,874,000 in net cash from financing activities in Q1 2025, down from $12,895,000 in Q1 2024, indicating a shift in financing strategy[19] Strategic Developments - The merger with Aebi Schmidt is on track to close by mid-2025, which is expected to enhance scale and product offerings[4] - Blue Arc sales in Q1 2025 were $26.3 million[4]

Core Insights - The Shyft Group reported a 3.4% increase in sales for Q1 2025, reaching $204.6 million compared to $197.9 million in Q1 2024, with improved profitability and operational efficiency [2][5][4] - The company anticipates a strong financial outlook for the full year 2025, with adjusted EBITDA projected between $62 million and $72 million, and adjusted earnings per share expected to be between $0.69 and $0.92 [6] - The pending merger with Aebi Schmidt is expected to enhance the company's market position, product offerings, and operational scale, creating opportunities for growth and shareholder value [2][4] Financial Performance - Sales for Q1 2025 were $204.6 million, an increase of $6.7 million or 3.4% from Q1 2024 [5] - The net loss for Q1 2025 was $1.4 million, or ($0.04) per share, an improvement from a loss of $4.7 million, or ($0.14) per share in Q1 2024 [5][29] - Adjusted EBITDA for Q1 2025 was $12.3 million, representing 6.0% of sales, up from $6.1 million or 3.1% of sales in the same period last year [5][29] Operational Highlights - The consolidated backlog as of March 31, 2025, was $335.3 million, down $104.1 million or 23.7% from $439.4 million as of March 31, 2024, but improved by $22.1 million or 7.1% compared to year-end 2024 [5][20] - The company maintained a strong balance sheet with a net leverage ratio of less than 2.0x [4] - The merger integration planning with Aebi Schmidt is underway, with the transaction expected to close by mid-2025 [4][2] Business Segments - Fleet Vehicles and Services segment sales were $96.1 million, while Specialty Vehicles segment sales were $82.2 million, contributing to the total sales of $204.6 million [18] - Blue Arc sales for the quarter were $26.3 million, indicating a growing presence in the electric vehicle solutions market [5]

NOVI, Mich., April 18, 2025 /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 2025 financial results prior to the market opening on Thursday, April 24, 2025. A conference call and webcast will begin at 8:30 A.M. Eastern Time.  Teleconference and w ...

PHOENIX, April 10, 2025 /PRNewswire/ -- Vantage Mobility ("the Company"), a leading manufacturer of wheelchair accessible vehicles ("WAVs"), announced yesterday the appointment of Daryl Adams as Chief Executive Officer. Mr. Adams brings significant expertise leading specialty vehicle and automotive supply companies to Vantage Mobility and will guide the Company's growth and expansion.   Mr. Adams is a respected industry leader with a proven track record of driving transformational growth and sustainable sca ...

Company Overview - The Shyft Group (SHYF) shares increased by 15.1% to close at $8.82, following a notable trading volume that exceeded typical levels, contrasting with an 11.9% loss over the past four weeks [1][2] - The company specializes in manufacturing chassis for Last Mile Delivery, RVs, and other vehicles [3] Financial Performance - The Shyft Group is expected to report a quarterly loss of $0.10 per share, reflecting a year-over-year decline of 150% [3] - Revenue projections for the upcoming quarter are estimated at $201.9 million, which indicates a 2% increase compared to the same quarter last year [3] Market Context - The stock's surge is attributed to a broader market rebound following the Trump administration's announcement of a temporary halt on reciprocal tariffs, aimed at alleviating fears of a recession due to market declines [2] - The consensus EPS estimate for The Shyft Group has remained unchanged over the last 30 days, suggesting that stock price movements may not sustain without earnings estimate revisions [5] Industry Comparison - The Shyft Group operates within the Zacks Automotive - Original Equipment industry, where another company, Ferrari (RACE), saw an 8.6% increase in its stock price, closing at $432 [5] - Ferrari's consensus EPS estimate has increased by 3.9% over the past month to $2.36, representing an 11.3% year-over-year change [6]

The registration statement includes combined company pro forma U.S. GAAP revenues of $1.9 billion and adjusted EBITDA of $148 million in 2024 Upon the closing of the proposed merger, the combined company will be named "Aebi Schmidt Group" and listed and traded on Nasdaq under the symbol "AEBI" NOVI, Mich., April 4, 2025 /PRNewswire/ -- The Shyft Group, Inc. (NASDAQ: SHYF) ("Shyft"), the North American leader in specialty vehicle manufacturing, assembly and upfit for the commercial, retail and service spec ...

Company Overview - The Shyft Group, Inc. is the North American leader in specialty vehicle manufacturing, assembly, and upfit for commercial, retail, and service specialty vehicle markets [2] - The company serves a diverse customer base including delivery companies, government entities, trades, and utility sectors [2] - The Shyft Group operates two core business units: Shyft Fleet Vehicles and Services™ and Shyft Specialty Vehicles™ [2] - The company employs approximately 2,900 employees and contractors across multiple facilities in the U.S. and Mexico [2] Financial Performance - The Shyft Group reported sales of $786 million in 2024 [2] Recent Events - Management will attend the 37th Annual ROTH Conference in Dana Point, California on March 17, 2025, and will host one-on-one meetings with institutional investors [1]

Core Insights - Utilimaster, a brand of The Shyft Group, is reintroducing the Trademaster Service Body and debuting the Marketplace Dry Freight Truck to meet evolving service and delivery needs in the commercial vehicle market [1][3] Product Overview - The Utilimaster Trademaster Service Body features enhanced durability, smart storage, and integrated safety features, designed specifically for tradespeople to improve efficiency on the job [2][3] - The Marketplace Dry Freight Truck is engineered to maximize payload capacity while being 900 pounds lighter than comparable models, optimizing efficiency for service and delivery fleets [4][5] Strategic Focus - The introduction of these vehicles reflects the company's commitment to innovation driven by customer needs, particularly in response to challenges such as electrification and increasing delivery demands [5] - The recent merger agreement with Aebi Schmidt aims to expand product offerings and improve efficiencies, enhancing competitive growth in the specialty vehicle market [5] Company Background - The Shyft Group is recognized as the North American leader in specialty vehicle manufacturing, with a diverse portfolio that includes brands like Utilimaster and Blue Arc EV Solutions [8][9] - The company reported sales of $786 million in 2024 and employs approximately 2,900 individuals across multiple facilities in North America [9]

Core Insights - The Shyft Group, Inc. celebrates its 50th anniversary and showcases innovations at NTEA Work Truck Week 2025, emphasizing its legacy in specialty vehicle manufacturing and commitment to performance, durability, and sustainability [1][3][4] Company Overview - The Shyft Group is a leader in specialty vehicle manufacturing, assembly, and upfit for commercial, retail, and service markets, with a diverse portfolio of trusted brands [5][10] - The company reported sales of $786 million in 2024 and employs approximately 2,900 individuals across various facilities in North America and Mexico [10] Recent Developments - A merger agreement with Aebi Schmidt has been announced, aimed at enhancing product offerings and operational efficiencies, ultimately providing tailored solutions for customers [3] - The company is focused on expanding capabilities to better serve customers and drive growth [3] Innovations and Product Offerings - The Shyft Group's booth at NTEA Work Truck Week will feature advancements in electrification, fleet technology, and upfit solutions, including the Blue Arc Class 4 EV with a range of over 200 miles [2][9] - Featured vehicles include the Utilimaster Trademaster, Marketplace Dry Freight, Aeromaster Walk-In-Van, and various lightweight and durable solutions designed for different industries [6][7] Event Highlights - A press conference is scheduled for March 5, where leadership will discuss the company's advancements and vision for fleet mobility [8] - Attendees can participate in Ride & Drive sessions to experience the Blue Arc Class 4 EV firsthand [9]

Core Viewpoint - The Shyft Group is expanding its collaboration with Isuzu North America to enhance its business operations and establish new facilities in South Carolina, which is expected to create new revenue opportunities and strengthen their market position [1][2][5]. Group 1: Collaboration and Expansion - The Shyft Group has had a partnership with Isuzu since 2011, and the recent expansion aims to enhance capabilities and deliver greater value to both companies [2][3]. - A dedicated upfit and modification center will be developed near Isuzu's new production facility in Greenville, South Carolina, to support vehicle modifications and services [3][4]. - Shyft will continue to assemble key Isuzu vehicle lines at its Michigan campus during the transition to the new facility, ensuring production continuity [2][5]. Group 2: New Production Facility - Isuzu's new 1,000,000-square-foot facility in Greenville is expected to consolidate production and logistics operations, enhancing efficiency and supporting growth in North America [5]. - Initial production at the Greenville facility is anticipated to begin in 2027, with a capacity to produce up to 50,000 vehicles annually and create over 700 jobs [5]. - The transition to the new facility will be gradual to minimize disruptions and ensure a reliable supply of vehicles [5]. Group 3: Market Alignment - Shyft is preparing to introduce a new body program tailored for the North American market, aligning its manufacturing capabilities with the growing demand for specialized commercial vehicles [4]. - The collaboration aims to position Shyft as a long-term provider of upfit and vehicle solutions for Isuzu's North American operations [3].