Core Viewpoint - The Shyft Group reported quarterly earnings of $0.16 per share, exceeding the Zacks Consensus Estimate of $0.12 per share, but down from $0.25 per share a year ago [1][2] Financial Performance - The earnings surprise for the quarter was 33.33%, with a previous quarter loss expectation of $0.18 per share, but the company reported a loss of only $0.04, resulting in a surprise of 77.78% [2] - Revenues for the quarter were $192.78 million, missing the Zacks Consensus Estimate by 2.49%, and down from $225.1 million year-over-year [3] Stock Performance - The Shyft Group shares have declined approximately 4.8% year-to-date, while the S&P 500 has gained 13.8% [4] - The company's current Zacks Rank is 2 (Buy), indicating expectations of outperforming the market in the near future [7] Future Outlook - The consensus EPS estimate for the upcoming quarter is $0.17 on revenues of $228.8 million, and for the current fiscal year, it is $0.42 on revenues of $853.9 million [8] - The automotive - original equipment industry is currently ranked in the bottom 13% of Zacks industries, which may impact the stock's performance [9]

Adjusted EBITDA for our SV segment for the second quarter of 2024 was $17.5 million, compared to $17.4 million for the second quarter of 2023, an increase of $0.1 million or 1.0%. Adjusted EBITDA for our SV segment for the first six months of 2024 was $34.5 million, compared to $31.2 million for the first six months of 2023, an increase of $3.3 million or 10.6%. This increase was primarily attributable to $4.8 million of favorable pricing and mix and $1.8 million of lower manufacturing costs, partially offs ...

Initial cash consideration of $46 million, subject to customary adjustments, with an $8 million earnout subject to annual business performance over the next two years Expected EBITDA multiple less than 6.0x adjusted for tax benefits and synergies; Acquisition is expected to be accretive to EPS in 2025 Forecasted to deliver ROIC greater than 15% by Year 3 of the transaction Funded with cash on hand and borrowings under our existing credit facility; Expected net leverage ratio of approximately 2.75x in the th ...

Exhibit 99.1 The Shyft Group Reports Second Quarter 2024 Results ● Delivered sales of $193 million, EPS of $0.06 and adjusted EPS of $0.16 ● Received order for 150 Blue Arc™ EV Trucks from FedEx; Blue Arc Class 4 vehicle production remains on track for 2024 ● Acquired Independent Truck Upfitters (ITU) to further accelerate Specialty Vehicles growth ● Increased full year 2024 adjusted EBITDA midpoint with updated outlook now at $45 to $50 million Novi, Mich., July 25, 2024 – The Shyft Group, Inc. (NASDAQ: SH ...

Company Overview - The Shyft Group is the North American leader in specialty vehicle manufacturing, assembly, and upfit for the commercial, retail, and service specialty vehicle markets [1][2] - The company serves a diverse customer base, including delivery companies, government entities, trades, and utility sectors [1] - The Shyft Group operates two core business units: Shyft Fleet Vehicles and Services™ and Shyft Specialty Vehicles™ [1] - The company employs approximately 3,000 employees and contractors across multiple facilities in the U.S. and Mexico [1] Financial Performance - The Shyft Group reported sales of $872 million in 2023 [1] - The company is set to announce its second quarter 2024 financial results on July 25, 2024 [2] Market Position - The Shyft Group is recognized for quality, durability, and first-to-market innovation in its industry [1] - The company's family of brands includes Utilimaster®, Blue Arc™ EV Solutions, Royal® Truck Body, DuraMag®, and others [1]

Core Insights - The Shyft Group, Inc. is a leader in specialty vehicle manufacturing and assembly for commercial, retail, and service markets [1] - The company reported sales of $872 million in 2023 [1] Upcoming Events - Management will participate in the Stifel 2024 Cross Sector Insight Conference on June 4, 2024, in Boston [3] - Management will also attend the Wells Fargo Industrials Conference on June 11, 2024, in Chicago [3] Company Overview - The Shyft Group operates two core business units: Shyft Fleet Vehicles and Services™ and Shyft Specialty Vehicles™ [1] - The company employs approximately 3,000 employees and contractors across various facilities in the U.S. and Mexico [1] - The Shyft Group's brands include Utilimaster®, Blue Arc™ EV Solutions, Royal® Truck Body, and others, known for quality and innovation [1]

The Shyft Group, Inc. (SHYF) has signed an agreement with Amerit Fleet Solutions to provide continuous support and maintenance services for Blue Arc EV trucks throughout the United States. Per John Dunn, president and CEO of The Shyft Group, as the company transitions to EV technology, it is dedicated to ensuring a seamless experience for its last-mile customers and drivers. In addition to its onsite dealer service and access to the Blue Arc EV Tech Support team, Shyft's service model now includes Amerit's ...

Supporting last-mile customers' transition to EV technology with mobile maintenance across the U.S. Complements Shyft's dealer partners' brick and mortar service capabilities Further backed by Shyft's Blue Arc EV Tech Support NOVI, Mich., May 22, 2024 /PRNewswire/ -- 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, has signed an agreement with Amerit Fleet Solutions to pr ...

The Shyft Group, Inc. (NASDAQ:SHYF) Q1 2024 Earnings Call Transcript April 25, 2024 8:30 AM ET Company Participants Randy Wilson - Vice President, Investor Relations & Treasury John Dunn - President & Chief Executive Officer Jonathan Douyard - Chief Financial Officer Conference Call Participants Matt Koranda - Roth MKM Tyler DiMatteo - BTIG Operator Good morning, and welcome to The Shyft Group's First Quarter 2024 Conference Call and Webcast. All participants will be in a listen-only mode until the question ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number 001-33582 THE SHYFT GROUP, INC. (Exact Name of Registrant as Specified in Its Charter) Michigan (State or Other Jurisdiction of Incorporation or Organization) 41280 Bridge Street Novi, Michigan (Address of Principal Executive Offices) 38-2078923 (I.R.S. Employer Identification N ...