Welcome to our dedicated page for Shyft Group news (Ticker: SHYF), a resource for investors and traders seeking the latest updates and insights on Shyft Group stock.
This page provides a historical news archive for The Shyft Group, Inc., formerly listed on Nasdaq under the symbol SHYF. Shyft described itself as the North American leader in specialty vehicle manufacturing, assembly, and upfit for the commercial, retail, and service specialty vehicle markets. Its news flow, as reflected in company releases, covered developments across its fleet and specialty vehicle operations, financial reporting, and corporate transactions.
Shyft’s announcements frequently highlighted activities within its two core business units, Shyft Fleet Vehicles and Services™ and Shyft Specialty Vehicles™, and across its family of brands such as Utilimaster®, Blue Arc™ EV Solutions, Royal® Truck Body, DuraMag® and Magnum®, Strobes-R-Us, Spartan® RV Chassis, Red Diamond™ Aftermarket Solutions, Builtmore Contract Manufacturing™, and Independent Truck Upfitters. News items included segment sales information, backlog updates, and commentary on operational efficiency and commercial growth initiatives, as disclosed in its quarterly results releases.
For readers interested in electric commercial vehicles, Shyft’s news archive includes coverage of its Blue Arc Class 4 EV truck receiving Zero-Emission Powertrain Certification (ZEPCert) and a Heavy-Duty Greenhouse Gas (GHG) Enhanced Electric Executive Order from the California Air Resources Board, as well as eligibility for incentive programs such as the Hybrid and Zero-Emission Truck and Bus Voucher Incentive Project (HVIP). Other releases describe partnerships, such as the Spartan RV Chassis collaboration with Rush Truck Centers to expand service support for motorhome owners.
A key theme in later news is Shyft’s merger with Aebi Schmidt Holding AG. Press releases document the effectiveness of the Form S-4 registration statement, shareholder approval of the merger, and the completion of the transaction on July 1, 2025, after which the combined company operates as Aebi Schmidt Group. Subsequent announcements note the delisting of Shyft’s common stock from Nasdaq and the expected trading of Aebi Schmidt Group shares under the ticker AEBI. Investors and researchers can use this archive to trace Shyft’s operational history, financial communications, and the steps leading to its integration into Aebi Schmidt Group.
The Shyft Group (NASDAQ: SHYF) has announced a 100% increase in its quarterly dividend, raising it from $0.025 to $0.05 per share. This change reflects the Board of Directors' confidence in the Company’s financial strength and market outlook. The dividend is payable on or before March 17, 2022, to shareholders of record by February 17, 2022. This initiative demonstrates the Company's commitment to returning capital to its shareholders while enhancing their income.
The Shyft Group (NASDAQ: SHYF) announces that Board member Michael Dinkins was recognized as one of Savoy magazine's 2021 Most Influential Black Corporate Directors. Dinkins has served on the board since December 2020 and chairs the Audit Committee, bringing nearly 30 years of financial leadership experience. He is currently the CEO of Dinkins Financial. Chair James Sharman applauded Dinkins for his financial acumen and leadership. The Shyft Group reported $676 million in sales from continuing operations in 2020 and operates across multiple U.S. states and Mexico.
Spartan RV Chassis, a brand of The Shyft Group (NASDAQ: SHYF), will showcase its new Red Diamond™ Leveling System at the 2022 Florida RV SuperShow. This innovative system offers quick and easy leveling for RVs without jacks, targeting Class A Coaches from 2000 and newer. Key features include one-touch automatic leveling, manual control, adjustable entry height, and chassis twist protection. The user-friendly touchscreen interface enhances functionality for RV owners. This launch aims to meet growing demands for efficient leveling solutions among RV enthusiasts.
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.