Shyft Group Stock Price, News & Analysis

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.

The Shyft Group reported a record second quarter for 2021, achieving sales of $244.0 million, a 96.8% increase from $124.0 million in 2020. The gross profit margin improved to 21.3%, with income from continuing operations at $17.0 million, or $0.44 per share, compared to a $1.1 million loss last year. Adjusted EBITDA soared 205.6% to $28.6 million. The backlog reached a record $751.4 million, a 122.6% increase. The company raised its full-year guidance, expecting revenue of $900 to $950 million and earnings per share between $1.52 and $1.72.

Utilimaster, a brand under The Shyft Group (NASDAQ: SHYF), continues its commitment to the community by sponsoring the World Golf Championship-FedEx St. Jude Invitational with a contribution of $46,000. This marks their fifth annual sponsorship aimed at supporting St. Jude Children's Research Hospital, which has received over $50 million since the event's inception in 1970. The tournament will take place from August 5-8, 2021, in Memphis, Tennessee, showcasing FedEx delivery vehicles that embody innovation in last-mile delivery.

The Shyft Group, through its brand Utilimaster, is showcasing its leading parcel delivery vehicles at two significant events: the GM Fleet Solutions Summit on July 27-28 and the Contractor Expo on July 30-31. The company highlights strong demand for last mile delivery vehicles, particularly the Velocity F2, showcasing its commitment to efficiency and customer support. The Contractor Expo serves as a major networking platform for FedEx Ground contractors, while the GM Summit focuses on fleet solutions, featuring a robust lineup of vehicles designed for enhanced performance and durability.