FRAUENFELD, Switzerland, Sept. 26, 2025 (GLOBE NEWSWIRE) -- Aebi Schmidt Group (NASDAQ: AEBI) (“Aebi Schmidt” or the “Company”), a world-class specialty vehicles leader, confirms details of its first dividend payout. Following the completion of its merger with The Shyft Group and listing on Nasdaq under the ticker symbol “AEBI” as of July 1, 2025, Aebi Schmidt will pay its first dividend in the amount of $0.025 per share of common stock (CUSIP: H00501108), as initially announced on August 14, 2025. Sharehol ...

Acquisition Details - Federal Signal Corporation will acquire Scranton Manufacturing Company Inc. (New Way Trucks) for $396 million, plus an additional $30 million for facilities in Iowa and Mississippi, and up to $54 million in performance-based earnouts [1][2][4] - The acquisition is expected to close in the fourth quarter of 2025, pending regulatory approval [2] Company Profile - New Way Trucks is a family-owned business recognized as one of the fastest-growing manufacturers of refuse collection vehicles in the U.S., offering a range of products including rear, front, and automated side loaders [2] Strategic Implications - The acquisition will create a new vertical within Federal Signal's specialty vehicle group, with expectations of capturing synergies and accelerating New Way's growth and margin trajectory [3] - Federal Signal plans to implement its chassis and inventory management practices to enhance New Way's operations [3] Financial Metrics - The acquisition price equates to approximately 11 times New Way's estimated 2026 EBITDA, decreasing to about seven times by 2028 as integration benefits are realized [4] - Federal Signal anticipates the deal to be neutral to earnings in 2026 due to integration costs and interest expenses, but accretive by 2028, with earnings per share projected to rise by $0.40 to $0.45 [5] Cost Synergies - Annual cost synergies are projected to reach between $15 million and $20 million by the end of 2028 [5]

Financial Data and Key Metrics Changes - Consolidated net sales for Q3 2025 were $644.9 million, up from $579.4 million in Q3 2024, representing a 20.5% increase when excluding the impact of the exited E and C transit bus business [14] - Consolidated adjusted EBITDA increased to $64.1 million from $45.2 million in Q3 2024, a year-over-year increase of 66.1% when excluding the $6.6 million impact from the divested bus business [15][16] - Trade working capital decreased to $191.6 million from $248.2 million at the end of fiscal 2024, primarily due to lower inventory balances and increased customer advances [24] Business Line Data and Key Metrics Changes - Specialty Vehicles segment sales were $483.3 million, an increase of 11.8% compared to the prior year, with adjusted EBITDA of $64.6 million, up 71.4% year-over-year [17][18] - Fire unit shipments increased by 11% and ambulance unit shipments increased by 7% compared to the previous year, reflecting operational resilience and increased throughput [6][18] - Recreational Vehicle segment sales rose to $161.7 million, a 9.7% increase, but adjusted EBITDA decreased by 13.8% due to increased dealer assistance and tariff impacts [21][22] Market Data and Key Metrics Changes - Specialty Vehicles segment backlog at the end of the quarter was $4.3 billion, with a decrease in the number of units in backlog by approximately 4% sequentially and 6% year-over-year [19][22] - Recreational Vehicle segment backlog declined by 7% year-over-year, reflecting soft end market demand and dealer caution [22] Company Strategy and Development Direction - The company is focused on reinvesting in its businesses to drive long-term growth, pursuing opportunistic share repurchases, and maintaining a sustainable dividend while evaluating M&A opportunities [13] - A significant investment of approximately $20 million is being made to expand the Spartan Emergency Response facility, increasing fire apparatus production capacity by 40% [8][9] - The company aims to improve operational efficiency and quality through targeted capital investments across its fire and ambulance groups [10] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's ability to manage tariff impacts and maintain strong performance, raising the fiscal 2025 outlook based on year-to-date performance [13][27] - The company anticipates continued demand for fire apparatus and ambulance units, with expectations for low single-digit sequential revenue growth in the Specialty Vehicles segment for Q4 [20] - Management acknowledged the challenges in the Recreational Vehicle segment due to macroeconomic uncertainty but remains optimistic about the long-term outlook [21][23] Other Important Information - The company completed the sale of its Lance Camper business, streamlining its RV portfolio to focus on motorized RVs [11] - Year-to-date cash flow has strengthened the balance sheet, allowing for continued investments and enhancing financial flexibility [12] Q&A Session Summary Question: Were the record EBITDA margins in line with expectations? - Management confirmed that they are on track with their midterm targets and are pleased with the progression [31][32] Question: Will the first quarter of fiscal 2026 start slow due to tariffs? - Management expects a typical sequential decline in sales of 10-15% in the first quarter, with incrementals aligning with previous guidance [34] Question: How is pricing being managed in light of tariffs and inflation? - Management is actively reviewing pricing strategies to offset inflation costs but has not yet implemented price increases specifically due to tariffs [36][46] Question: Is the company seeing any impact from steel and aluminum tariffs? - Management indicated that they are managing costs through supplier relationships and have not seen a significant change in expected tariff impacts [41][43] Question: What is the outlook for the fire business and delivery timelines? - Management noted that delivery timelines are improving, and they expect to maintain competitive lead times while managing backlog normalization [51][53] Question: How is the company approaching capital deployment with strong cash flow? - Management emphasized the importance of investing in productivity improvements while remaining opportunistic regarding M&A opportunities [76][78]

Fiscal Third Quarter 2025 Highlights - REV Group experienced momentum in year-over-year throughput increases[7] - The company broke ground for a $20 million investment in the Brandon, SD facility[7] - REV Group completed the sale of Lance Camper[7] - The company demonstrated strong cash generation and a solid balance sheet position[7] - REV Group raised its fiscal year 2025 outlook[7] Third Quarter Fiscal 2025 Consolidated Results - Net sales increased to $644.9 million in Q3 2025, compared to $579.4 million in Q3 2024[9], a $109.7 million or 20.5% increase excluding Bus Manufacturing Businesses[13] - Adjusted EBITDA increased to $64.1 million in Q3 2025, compared to $45.2 million in Q3 2024[9], a $25.5 million or 66.1% increase excluding Bus Manufacturing Businesses[13] Full Year Fiscal 2025 Outlook - REV Group updated its net sales guidance to $2.40 to $2.45 billion, compared to the prior guidance of $2.35 to $2.45 billion and the 2024 actual of $2.38 billion[27] - The company updated its Adjusted EBITDA guidance to $220 to $230 million, compared to the prior guidance of $200 to $220 million and the 2024 actual of $162.8 million[27] - REV Group updated its Free Cash Flow guidance to $140 to $150 million, compared to the prior guidance of $100 to $120 million[27] Balance Sheet & Other Financial Items - Year-to-date cash from operations totaled $164.2 million[25] - Net debt was $54.0 million[25] - Trade working capital decreased by $56.6 million compared to 4Q24[26] - $117.6 million cash was returned to shareholders year to date[26]

Financial Data and Key Metrics Changes - Consolidated net sales for Q2 were $565 million, a 15% increase year over year, with organic sales growth of 9% [5][6] - Operating income rose to $97.7 million, up 20% compared to last year [6] - Adjusted EBITDA for the quarter was $118.2 million, reflecting a 21% increase year over year, with an adjusted EBITDA margin of 20.9%, up 100 basis points [6][7] - GAAP diluted EPS was $1.16, a 17% increase, while adjusted EPS was $1.17, up 23% [7][12] - Cash generated from operations was $60 million, a 47% increase from the previous year [12][13] Business Line Data and Key Metrics Changes - Environmental Solutions Group (ESG) net sales were $481 million, an 18% increase, with operating income up 26% [8][17] - ESG's adjusted EBITDA margin improved to 23.1%, up 150 basis points [9] - Safety and Security Systems Group (SSG) net sales were $84 million, a 3% increase, with operating income up 17% [9][10] - SSG's adjusted EBITDA margin was 26.9%, an increase of 320 basis points [10] Market Data and Key Metrics Changes - Total orders for the quarter were $540 million, a 14% increase year over year, with a backlog of $1.08 billion [8][22] - Orders for publicly funded offerings were up double digits year over year, with strong demand across product categories [24][25] - Industrial orders also saw double-digit growth, despite a decline in third-party refuse truck orders [24] Company Strategy and Development Direction - The company is focused on organic growth initiatives and strategic acquisitions to drive long-term growth [26][28] - The good, better, best product strategy aims to penetrate underserved market segments and expand customer bases [26][62] - The company is actively pursuing M&A opportunities, with a strong pipeline and a reputation as a preferred buyer in the market [28][70] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in continued strong demand for products and services, with a focus on reducing lead times and maintaining healthy order intake [25][30] - The company raised its full-year adjusted EPS outlook to a range of $3.92 to $4.10, and net sales outlook to $2.07 billion to $2.13 billion [30] - Management noted that the recent tax reform could benefit industrial customers and potentially increase equipment purchases [38][39] Other Important Information - The company paid dividends of $8.5 million during the quarter and repurchased approximately $20 million of shares [13] - The company is committed to sustainability, as highlighted in its sixth annual Sustainable Builder Report [104] Q&A Session Summary Question: What were the key drivers of improved margins in ESG? - Management highlighted increased production at major facilities, growth in the aftermarket business, and favorable price-cost dynamics as key drivers [34][35] Question: How might recent tax reforms impact demand? - Management believes bonus depreciation provisions could incentivize industrial customers to purchase new equipment, but does not expect a significant impact on the effective tax rate [38][39] Question: What factors led to the increase in through-cycle margin targets? - Management cited increased production, growing aftermarket business, and realization of synergies from acquisitions as factors [43][44] Question: How is the company managing customer retention in reassigned territories? - Management reported that order intake in reassigned territories was in line with expectations, and they are optimistic about long-term market share growth [45][46] Question: What is the status of the insourcing initiatives? - Management confirmed that the fourth printed circuit board manufacturing line is on track to be operational by year-end, providing flexibility and supporting higher growth volumes [52][53] Question: How is the good, better, best strategy impacting growth? - Management indicated that this strategy is crucial for achieving low double-digit growth and expanding market share [62][63] Question: What is the current M&A landscape? - Management noted a very active M&A environment and a solid pipeline of opportunities, particularly for the SSG business [70][100]

Financial Data and Key Metrics Changes - Consolidated net sales for Q2 were $565 million, a 15% increase year over year, with organic sales growth of 9% [5][6] - Operating income rose to $97.7 million, up 20% compared to last year, while adjusted EBITDA increased by 21% to $118.2 million [6][12] - GAAP diluted EPS was $1.16, a 17% increase, and adjusted EPS was $1.17, up 23% year over year [6][11] - Cash generated from operations was $60 million, a 47% increase from Q2 last year [11][20] Business Line Data and Key Metrics Changes - Environmental Solutions Group (ESG) net sales were $481 million, an 18% increase, with operating income up 26% to $91.9 million [7][15] - Safety and Security Systems Group (SSG) net sales were $84 million, a 3% increase, with operating income rising 17% to $21.5 million [8][19] - ESG's adjusted EBITDA margin improved by 150 basis points to 23.1%, while SSG's adjusted EBITDA margin increased by 320 basis points to 26.9% [8][19] Market Data and Key Metrics Changes - Total orders for the quarter were $540 million, a 14% increase year over year, with a backlog of $1.08 billion [7][21] - Orders for publicly funded offerings were up double digits year over year, indicating broad-based strength across product categories [21][22] - Industrial orders also saw double-digit growth, despite a decline in third-party refuse truck orders [22] Company Strategy and Development Direction - The company is focused on organic growth initiatives and strategic acquisitions to drive long-term growth [24][26] - The good, better, best product strategy aims to penetrate underserved market segments and expand customer bases [24][62] - Increased EBITDA margin targets for both ESG and SSG reflect confidence in operational efficiencies and market opportunities [27][28] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about strong customer demand and order levels, with expectations for continued growth [20][21] - The company anticipates benefits from recent tax reforms, particularly in terms of equipment purchases for industrial customers [36][37] - The outlook for 2025 has been raised, with adjusted EPS guidance increased to a range of $3.92 to $4.10 [28] Other Important Information - The company paid dividends of $8.5 million during the quarter and repurchased approximately $20 million of shares [12] - The company is committed to maintaining a strong cash conversion rate and has a target of 100% cash conversion on a net income basis [20] Q&A Session Summary Question: What were the key drivers of improved margins in ESG? - Management highlighted increased production efficiency at major facilities and growth in the aftermarket business as key drivers [33][34] Question: How might recent tax reforms impact demand? - Management believes bonus depreciation provisions could incentivize industrial customers to purchase new equipment [36] Question: Can you provide an update on the reassigned territories? - Order intake in reassigned territories has met expectations, with long-term opportunities for increased market share [44] Question: What is the status of the insourcing initiatives? - The company is on track to add a fourth printed circuit board manufacturing line, which is expected to enhance flexibility and support growth [52] Question: How does the good, better, best strategy impact growth? - This strategy is expected to help the company achieve low double-digit growth by opening new customer bases and increasing market share [62][63]

Group 1 - REV Group, a specialty vehicle manufacturer, reported growth in its topline after experiencing consecutive declines in the past four quarters [1] - The growth was primarily attributed to a double-digit contraction in previous periods [1] Group 2 - The company is engaged in the technology, industrial, and conglomerate sectors, focusing on businesses with strong foundations for long-term success [1] - The analysis emphasizes a combination of financial examination and narrative to provide insights into market performance [1]

Company Overview - REV Group's revenue for the trailing twelve months (TTM) ended April 30, 2024, was $2.6 billion[15] - As of April 30, 2024, REV Group had $38.2 million in cash and net debt of $181.8 million[15] - The market capitalization of REV Group as of June 6, 2024, was $1,428 million[15] - As of May 29, 2024, the shares outstanding were 51.9 million, with a closing price of $27.51 on June 6, 2024[15] Strategic Actions - REV Group sold Collins Bus for $303 million in an all-cash transaction[17] - The company expects net cash proceeds of over $250 million from strategic actions[17] - REV Group returned approximately $311 million to shareholders year-to-date, including ~$179 million in special cash dividends, ~$126 million in share repurchases, and ~$6 million in regular quarterly dividends[19] Financial Performance - The company's leverage ratio is 1.1x net debt to trailing twelve-month Adjusted EBITDA[44] - REV Group anticipates $67 million in adjusted free cash flow for FY24E[50] - From FY20 to FY23, REV Group generated $333 million of free cash flow, compared to an outflow of ($90 million) in FY17-FY19[50] Specialty Vehicles Segment - The Specialty Vehicles segment has an installed base of over 70,000 units[27] - The backlog for Specialty Vehicles is $4.064 billion as of 2Q24[27]

Company Overview - The Shyft Group, Inc. is a leader in specialty vehicle manufacturing, assembly, and upfit for commercial, retail, and service markets in North America, reporting sales of $786 million in 2024 [5] - Aebi Schmidt Group is a global leader in intelligent solutions for infrastructure and agricultural applications, generating net sales of over 1 billion EUR in 2024 and employing around 3,000 people [6][7] Merger Details - Shareholders of Shyft approved the merger agreement with Aebi Schmidt, with approximately 99% of votes in favor, representing about 81% of total outstanding shares as of May 13, 2025 [2][3] - The merger is expected to close on or around July 1, 2025, with the combined company to be named "Aebi Schmidt Group" and trading on NASDAQ under the ticker symbol "AEBI" [1][3] - Each share of Shyft common stock will be exchanged for approximately 1.04 shares of the combined company's common stock upon completion of the merger [3] Strategic Implications - The merger aims to create a differentiated global leader in the specialty vehicles industry, enhancing scale, capabilities, and customer value [4] - The combined entity is expected to unlock meaningful value for customers and shareholders, positioning itself for continued growth [4]

Core Insights - REV Group reported an 8% increase in consolidated mid-point revenue guidance and a 45% year-over-year increase in adjusted EBITDA guidance for fiscal 2025, driven by strong operational gains in the specialty vehicle segment [1] - The company announced a $20 million plant expansion, a strategic exit from the Lance Camper operation, and raised capital expenditure plans while addressing $15 million in expected tariff headwinds [1][6] Specialty Vehicle Segment Performance - The specialty vehicle segment, excluding divested bus operations, achieved a 12.2% revenue increase and a 74.3% surge in adjusted EBITDA compared to the prior year quarter, with record shipment levels in the Spartan Emergency Response business [2] - Segment backlog reached $4.3 billion at quarter-end, supported by a book-to-bill ratio of 1.1 and strong demand for fire apparatus [3][2] Portfolio Optimization - The divestiture of the Lance Camper operation resulted in a one-time $30 million non-cash loss, partially offset by a $16.6 million tax benefit, allowing the company to focus on scalable operations with stronger competitive positioning [4][5] - The motorized RV division continues to drive nearly all EBITDA for the recreation segment, maintaining a 6.2% adjusted EBITDA margin despite a 10% decline in REV brand retail sales [4] Tariff Impact and Strategic Adjustments - New tariffs are expected to impact adjusted EBITDA by $10 million in specialty vehicles and $5 million in recreation for the second half of the fiscal year, prompting a shift to U.S. suppliers for chassis sourcing [6][7] - The company has increased full-year capital expenditure guidance to $45 million–$50 million, with $20 million allocated for expansion projects [6] Future Outlook - Management raised consolidated FY2025 revenue guidance to $2.35 billion–$2.45 billion and adjusted EBITDA guidance to $200 million–$220 million, anticipating specialty vehicle outperformance to offset tariff pressures [8] - Net income guidance, including the Lance Camper divestiture loss, is now projected at $88 million–$107 million, with adjusted net income at $100 million–$130 million [8]