Shyft Group Stock Price, News & Analysis

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.

The Shyft Group (NASDAQ: SHYF), a leader in specialty vehicle manufacturing, will announce its Q2 2021 results on August 5, 2021, before market opening. A conference call and webcast are scheduled for the same day at 10 a.m. EDT to discuss the financial outcomes with analysts and investors. The company reported $676 million in sales from continuing operations for 2020, serving various markets including last-mile delivery and government entities. Shyft operates across multiple states and has a significant employee base of approximately 2,900.

The Shyft Group, a leader in specialty vehicle manufacturing, has partnered with TiiCKER to launch a dedicated retail investor site at www.tiicker.com/SHYF. This initiative aims to engage and reward retail shareholders with exclusive perks, including branded apparel and gift cards. CEO Daryl Adams emphasized the importance of showing appreciation for retail investors, while TiiCKER founder Jeff Lambert highlighted the growing trend of retail investor engagement, which surged 49% in 2020 to $13.3 trillion in assets.

The Shyft Group (NASDAQ: SHYF) announced plans for an all-electric Class 3 chassis platform aimed at various medium-duty truck markets, including delivery fleets and recreational vehicles. This EV-powered chassis, developed by Shyft Innovations™, features customizable configurations and will aid customers in meeting green mandates. Prototypes are set for testing in early 2022, with production starting mid-2023. Shyft leverages nearly a decade of EV experience and has a broad manufacturing footprint across the U.S. and Mexico, supporting diverse vehicle needs.

The Shyft Group (NASDAQ: SHYF) will host a virtual Analyst and Investor Conference on June 8, 2021, starting at 10:00 a.m. ET. During this event, senior management will present an overview of the company's business model, long-term growth strategies, and financial targets. The conference aims to provide insights into Shyft's specialty vehicle brands, targeting commercial, fleet, and recreational vehicle markets. The company's 2020 sales reached $676 million, showcasing its leading position in specialty vehicle manufacturing and assembly.

The Shyft Group (NASDAQ: SHYF) appointed Joshua Sherbin as its new Chief Legal Officer and Chief Compliance Officer effective May 17, 2021. Sherbin brings over 20 years of experience, having served at Trimas Corporation and Valeo. CEO Daryl Adams emphasized Sherbin’s expertise in law and compliance as a significant addition to their leadership team, aiming to enhance the company’s strategic growth and shareholder value. He succeeds Ryan Roney, who previously held the position.

The Shyft Group, Inc. (NASDAQ: SHYF), a leader in specialty vehicle manufacturing, has declared a $0.025 cash dividend per share of common stock. This dividend will be payable on or before June 18, 2021, to shareholders of record by May 18, 2021. Daryl Adams, the CEO, emphasized the Board's commitment to returning cash to shareholders while continuing to reinvest in the business for growth. The company, which reported $676 million in sales from continuing operations for 2020, has maintained a dividend practice since 1993.

The Shyft Group reported a strong first quarter of 2021 with sales of $197.9 million, an 11.8% increase from the previous year. Income from continuing operations reached $11.5 million, or $0.32 per share, despite a prior-year tax gain impacting comparisons. Adjusted EBITDA rose to $19.2 million, representing 9.7% of sales. The record backlog of $666.5 million reflects strong demand across business units. The company reaffirmed its full-year guidance, targeting revenue between $850 million and $900 million.