The Shyft Group Q1 2023 Earnings Report

The Shyft Group EPS Results

• Actual EPS: $0.08
• Consensus EPS: -$0.05
• Beat/Miss: Beat by +$0.13
• One Year Ago EPS: N/A

The Shyft Group Revenue Results

• Actual Revenue: $243.44 million
• Expected Revenue: $218.55 million
• Beat/Miss: Beat by +$24.89 million
• YoY Revenue Growth: N/A

The Shyft Group Announcement Details

• Quarter: Q1 2023
• Date: 4/27/2023
• Time: N/A

The Shyft Group (NASDAQ:SHYF) engages in the manufacture and assembly of specialty vehicles for the commercial and recreational vehicle industries in the United States and internationally. It operates in two segments, Fleet Vehicles and Services, and Specialty Vehicles. The Fleet Vehicles and Services segment offers commercial vehicles used in the e-commerce/last mile/parcel delivery, beverage and grocery delivery, laundry and linen, mobile retail, and trades and construction industries. This segment markets its commercial vehicles, including walk-in vans, cutaway vans, and truck bodies under the Aeromaster, Velocity, Trademaster, and Utilivan brands; and vocation-specific equipment upfit services under the Utilimaster Upfit Services and Strobes-R-Us brands. It also installs specialty interior and exterior up-fit equipment for walk-in vans, truck bodies, cargo vans, and light duty pick-up trucks; and provides aftermarket support, including parts sales and field services, as well as parts and accessories. The Specialty Vehicles segment provides diesel motor home chassis; and truck bodies under the Royal Truck Body and DuraMag brands. The segment also provides final assembly services for Isuzu N-gas and F-series chassis under the Builtmore Contract Manufacturing brand; and designs and installs custom lighting and upfit solutions for a range of specialty industries. In addition, this segment provides truck accessories under the Magnum brand; and a range of parts and accessories, and maintenance and repair services for its motorhome and specialty chassis. It sells its products to commercial users, original equipment manufacturers, dealers, individuals, municipalities, and other government entities. The company was formerly known as Spartan Motors, Inc. and changed its name to The Shyft Group, Inc. in June 2020. The Shyft Group, Inc. was incorporated in 1975 and is headquartered in Novi, Michigan.