Shyft Group Stock Price, News & Analysis

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.

The Shyft Group (NASDAQ: SHYF), a leader in specialty vehicle manufacturing, announced that CEO Daryl Adams and CFO Jon Douyard will participate in the 19th Annual Craig-Hallum Institutional Investor Virtual Conference on June 1, 2022. The company will conduct one-on-one meetings with institutional investors to discuss its operations and potential. Shyft operates with a focus on niche markets, including commercial and recreational vehicles, reporting sales of $992 million in 2021 and employing around 3,800 people across multiple states.

Spartan RV Chassis, a brand under Shyft Group (NASDAQ: SHYF), has unveiled its new Premier Drive™ system at the Entegra Coach Diesel Owners' Homecoming event in Goshen, Ind. Designed for Class A luxury motorcoaches, this system features an Independent Front Suspension (IFS) aimed at enhancing ride quality, agility, and driver control. The chassis boasts advanced technologies, including air disc brakes and a robust frame structure. The event runs from May 17-20, 2022, where attendees can explore the new offerings.

Daryl Adams, President and CEO of The Shyft Group, was recognized as a 2022 Notable Leader in EV by Crain’s Detroit Business. This accolade reflects his contributions to the electric vehicle sector, particularly through the launch of Blue Arc™ EV Solutions, which aims to enhance last-mile delivery efficiency with innovative electric vehicles. Key offerings include an all-electric Class 3 delivery van and the customizable Power Cube™ charging station. Vehicle prototypes are set for testing shortly, with production expected in late 2023.

Blue Arc™ EV Solutions, a brand of The Shyft Group (NASDAQ: SHYF), will showcase its commercial-grade EV ecosystem at the 11th annual Advanced Clean Transportation (ACT) Expo in Long Beach, California from May 9-12, 2022. Key highlights include a first-of-its-kind EV chassis and a fully electric Class 3 delivery van. The show will also feature the Power Cube™, a customizable, portable charging station. Blue Arc aims to leverage Shyft's expertise in last-mile delivery solutions, with prototypes expected for route testing soon, starting production mid-2023.

The Shyft Group (NASDAQ: SHYF) has announced a quarterly cash dividend of $0.05 per share, payable on or before June 17, 2022, to shareholders of record as of May 17, 2022. Daryl Adams, President and CEO, emphasized the Board's confidence in the company's long-term outlook, reinforcing their commitment to returning cash to shareholders. The company, a leader in specialty vehicle manufacturing, reported sales of $992 million in 2021 and operates across several states and Mexico with approximately 3,800 employees.

Shyft Group reported Q1 2022 sales of $207 million, a 4.5% increase from Q1 2021. However, the company faced a loss from continuing operations of ($3.9 million) or ($0.11 per share), compared to a profit of $11.5 million or $0.32 per share last year. Adjusted EBITDA plunged to (0.3%) of sales, down $19.8 million. A notable highlight is the record backlog of $1.3 billion, marking a 91% annual increase. The company launched its Blue Arc EV Solutions brand and plans to navigate ongoing supply chain challenges.

The Shyft Group, Inc. (NASDAQ: SHYF) will announce its Q1 2022 results on April 28, 2022, prior to market opening. A conference call and webcast will follow at 10 a.m. ET to discuss the financial results with analysts and institutional investors. The Shyft Group is a leader in specialty vehicle manufacturing, catering to the commercial, retail, and service sectors. It employs approximately 3,800 employees across multiple states and reported sales of $992 million in 2021.