Shyft Group Stock Price, News & Analysis

Utilimaster, part of The Shyft Group (NASDAQ: SHYF), has partnered with Ford Pro to produce two pilot vehicles using the all-electric Ford E-Transit chassis for customer testing. The vehicles, equipped with Utilimaster's engineered Velocity® body, are designed for the delivery market's increasing demand for electric fleet options. Chad Heminover, President of Shyft Fleet Vehicles and Services, stated the company aims to provide innovative solutions for electric fleet vehicles. The pilot program vehicles will be operational through 2023.

The Shyft Group, Inc. (NASDAQ: SHYF) has declared a cash dividend of $0.025 per share, payable on or before December 16, 2021. Shareholders on record by the end of business on November 16, 2021 will receive this dividend. President and CEO Daryl Adams emphasized the Board's commitment to returning cash to shareholders, continuing a tradition of dividends since 1993. The company reported sales of $676 million from continuing operations in 2020, highlighting its position as North America's leader in specialty vehicle manufacturing.

The Shyft Group, a leader in specialty vehicle manufacturing, reported strong third-quarter results for 2021, with sales reaching $272.6 million, an increase of 34% year-over-year. Gross profit margin fell to 20.6% due to higher material and labor costs. Income from continuing operations was $21 million, or $0.58 per share, alongside an adjusted EBITDA of $33.7 million. A record backlog of $852.6 million reflects robust demand, including a significant USPS order. The company has raised its full-year guidance, anticipating revenue between $930 million to $970 million.

Utilimaster has secured a $53 million contract from the United States Postal Service for 447 truck bodies to enhance bulk mail delivery. This award follows a $214 million contract completed in 2019 for over 2,000 vehicles. The new order will be manufactured between the second quarter of 2022 and 2023 and will feature vehicles on cab-over and cab-behind chassis. Utilimaster, part of The Shyft Group (NASDAQ: SHYF), is recognized for its quality and custom solutions in the specialty vehicle market.

The Shyft Group, Inc. (NASDAQ: SHYF) will announce its third quarter 2021 results before market opening on November 4, 2021. A conference call and webcast will follow at 10 a.m. EDT to discuss these results with analysts and institutional investors. The call will be archived for later access. The Shyft Group is a leader in specialty vehicle manufacturing, catering to ecommerce delivery and various commercial markets, reporting sales of $676 million in 2020.

Utilimaster will present three specialized utility vehicles at The Utility Expo from September 28-30, 2021 in Louisville, Kentucky. These vehicles include the Aeromaster walk-in van, Ford Transit Cargo Van, and Ford F-150 Pickup Truck, each tailored for essential utility services in challenging conditions. The Aeromaster features an Onan Generator for underground utility work, while the Transit Cargo Van is designed for electric meter testing. The F-150 is aimed at general contractors, showcasing Utilimaster's commitment to customized vehicle solutions.

The Shyft Group, Inc. (NASDAQ: SHYF) announced the opening of a new 40,000-square-foot research and development facility in Plymouth, Michigan, on September 20, 2021. This center, part of Shyft Innovations, will focus on product development, design, and prototyping, with an emphasis on EV chassis technology. The facility supports the company's strategic initiative in electric mobility, reflecting its commitment to innovation in specialty vehicle manufacturing. The growth in Shyft's portfolio showcases the strength of its market position.

On August 31, 2021, The Shyft Group announced that its brand Utilimaster has received over 500 orders for refrigerated vehicles from grocery chains across North America, addressing the growing demand for home grocery delivery. These vehicles are designed for efficient delivery of fresh and frozen goods, catering to diverse customer needs in urban, suburban, and rural areas. The introduction of the Velocity™ vehicle, capable of carrying varied temperature-controlled goods, highlights Shyft's commitment to meeting market demands. The company will showcase its offerings at the Home Delivery World event in Philadelphia on September 1-2.

The Shyft Group, Inc. (NASDAQ: SHYF), a leader in specialty vehicle manufacturing, announced a quarterly cash dividend of $0.025 per share. This dividend will be payable on or before September 15, 2021, to shareholders recorded by August 18, 2021. Daryl Adams, the President and CEO, expressed the Board's commitment to returning cash to shareholders and highlighted the confidence in the company's strong financial performance. In 2020, the company reported sales from continuing operations of $676 million.