Shyft Group Stock Price, News & Analysis

The Shyft Group (NASDAQ: SHYF) announced its participation in the North American International Auto Show on September 14-15, showcasing the Blue Arc™ EV Solutions and the Power Cube™ portable charging station. The Class 3 all-electric delivery van aims to enhance last-mile delivery efficiency. The Power Cube is a remote-controlled charging solution, adaptable for various settings, including mass transit and construction sites. This innovation highlights Shyft's commitment to addressing infrastructure challenges in the EV transition, leveraging nearly 50 years of industry experience.

The Shyft Group, a leader in specialty vehicle manufacturing, announced its participation in the Raymond James Diversified Industrials Conference on August 23, 2022, with President Daryl Adams and CFO Jon Douyard attending. This event in New York City will include one-on-one meetings with institutional investors. The Company reported $992 million in sales for 2021 and employs around 3,800 individuals across various U.S. states and Mexico. Shyft serves multiple sectors, offering products under brands like Blue Arc and Utilimaster.

The Shyft Group, Inc. (NASDAQ: SHYF) has announced a cash dividend of $0.05 per share, reflecting the company's strong financial performance and commitment to returning cash to shareholders. The dividend will be payable on or before September 16, 2022, to shareholders of record as of the close of business on August 17, 2022. This announcement highlights the company’s confidence in its ongoing operations within the specialty vehicle manufacturing sector, where it reported $992 million in sales for the previous year.

The Shyft Group (NASDAQ: SHYF) reported second-quarter results for 2022, showing sales of $232.2 million, down 4.8% from $244.0 million year-over-year. EPS fell to $0.15 from $0.44, with adjusted EBITDA at $13.7 million, down 52% compared to the previous year. Despite challenges, the consolidated backlog increased by 51.1% to $1.1 billion. The Company maintains cautious optimism for 2022, projecting revenues between $925 million and $1.1 billion, alongside adjusted EBITDA of $55 to $80 million. Ongoing investments in EV development signal commitment to innovation.

The Shyft Group (NASDAQ: SHYF) has launched the Blue Arc Power Cube™, a portable, remote-controlled charging station designed for commercial vehicle fleets. This innovative product features 3MW of onboard power and supports Level 2 and DC Fast Charging, enabling quick vehicle charging in 1-2 hours. The Power Cube can be used in various scenarios, including military operations and disaster relief, without the need for grid connection. The launch was showcased at a Capitol Hill event attended by U.S. Congressional representatives, promoting advancements in electric vehicle infrastructure.

The Shyft Group has unveiled the Blue Arc Power Cube, a portable charging station with 3MW onboard power designed for commercial vehicle fleets. Highlighted during a showcase on Capitol Hill, the Power Cube offers Level 2 and DC Fast Charging capabilities, crucial for enhancing electric vehicle infrastructure in the U.S. It can operate independently from the power grid, augmented by wind and solar energy. The innovation aims to alleviate the current challenges faced in EV adoption, particularly in scenarios like disaster relief and military applications.

The Shyft Group (NASDAQ: SHYF) will announce its Q2 2022 financial results on July 28, 2022, before the market opens. A conference call will follow at 10 a.m. ET to discuss the results. The Shyft Group specializes in manufacturing and assembly of specialty vehicles for ecommerce parcel delivery and various commercial markets. It operates under brands like Blue Arc, Utilimaster, and Royal Truck Body, employing around 3,800 people across several states. The company reported $992 million in sales for 2021.

Red Diamond Aftermarket Solutions, a new brand by The Shyft Group (NASDAQ: SHYF), launched on June 22, 2022, presenting three innovative products aimed at enhancing RV performance: Red Diamond RunFlat, Red Diamond Air Booster, and Red Diamond Self-Leveling System. These products focus on safety, comfort, and convenience for RV owners. Red Diamond offers a wide range of parts and services, available through an online store and numerous authorized service centers across the U.S., ensuring quality and reliability in the RV market.

The Shyft Group, Inc. (NASDAQ: SHYF) appointed Randy Wilson as Vice President, Investor Relations and Group Treasurer, effective June 20, 2022. Wilson brings significant experience from Terex Corporation and Bank of America, with a focus on investor relations, finance, and capital markets. His role will encompass all aspects of investor relations and treasury functions. CFO Jon Douyard expressed confidence in Wilson's ability to enhance their investor relations program, highlighting the company's progress and aim to showcase value to both new and existing investors.