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, 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.
The Shyft Group, Inc. (NASDAQ: SHYF), a leader in specialty vehicle manufacturing, will announce its first quarter 2021 results on May 6, 2021, before the market opens. A conference call and webcast will be held at 10 a.m. EDT to discuss the financial results. The webcast is available at the company’s investor relations site. Shyft reported sales of $676 million in 2020 and serves various sectors including e-commerce, government, and utility industries.
DuraMag, a brand of The Shyft Group (NASDAQ: SHYF), will manufacture vocational body upfits for ev Transportation Services' FireFly electric vehicles. This initiative underscores Shyft's commitment to expanding its electric vehicle (EV) offerings in response to market demands for eco-friendly transport solutions. DuraMag will produce lightweight utility vehicle bodies at its Waterville, Maine facility, catering to service sectors like sanitation and parcel delivery. The collaboration aims to meet growing demand for zero-emission vehicles in essential services and urban e-mobility.
The Shyft Group (NASDAQ: SHYF) announced a special $500 bonus for its employees in recognition of their commitment during a challenging year. This bonus is available to all full- and part-time associates employed in 2020 at U.S. locations. President and CEO Daryl Adams highlighted the team's dedication, citing significant growth as a result. Additionally, the company is expanding its workforce through various hiring initiatives across its campuses. Shyft reported sales of $676 million in 2020 and is recognized as a leader in specialty vehicle manufacturing.
The Shyft Group (NASDAQ: SHYF) reported its financial results for 2020, showing sales of $676 million, down 10.7% from 2019, due largely to the absence of a one-time USPS order. However, adjusted EBITDA increased by 19.2% to $76.3 million, reflecting improved operational efficiency. The company generated $65.8 million in cash from operations and reduced debt by $65 million. Looking ahead, 2021 guidance estimates revenue between $850 million and $900 million and earnings per share between $1.42 and $1.62. The backlog as of December 31, 2020, totalled $478.7 million, up 42.2% year-over-year.
The Shyft Group (Nasdaq: SHYF), a leader in specialty vehicle manufacturing, will showcase its latest products at the virtual Work Truck Week 21 from March 8-12, 2021. The event will feature innovations from Utilimaster, Royal Truck Body, and DuraMag. Notable products include the Velocity M3 parcel delivery vehicle and the new Trademaster service body. Shyft aims to connect with industry professionals, presenting its extensive portfolio to a growing market and redefining purpose-built vehicles across various classes and propulsion systems.
The Shyft Group (NASDAQ: SHYF) will announce its fourth quarter and full year results for 2020 on March 11, 2021, before market open. A conference call and webcast will follow at 10 a.m. EST to discuss the financial results with analysts and institutional investors. Shyft specializes in specialty vehicle manufacturing for ecommerce parcel delivery and commercial markets. In 2019, the Company reported $757 million in sales from continuing operations. It operates multiple facilities across the U.S. and employs around 3,000 associates.
The Shyft Group (SHYF) announced that Builtmore Contract Manufacturing will expand its production for Isuzu Commercial Truck. This includes the new 2022 F-Series cab-over chassis with the Cummins B6.7 diesel engine and a Class 5 gasoline-powered N-Series chassis. Production will start immediately at Shyft's Charlotte facility. The F-Series will offer two models—Class 6 FTR and Class 7 FVR—enhancing maneuverability and visibility for users. The Cummins B6.7 engine will provide up to 325 horsepower and improved torque compared to its predecessor, creating new opportunities for Isuzu dealers.
The Shyft Group, Inc. (NASDAQ: SHYF), a leader in specialty vehicle manufacturing, announced a quarterly cash dividend of $0.025 per share. This payment reflects the company's commitment to returning cash to shareholders and will be paid on or before March 25, 2021, to shareholders of record by the end of business on February 25, 2021. The Company’s strong dividend history dates back to 1993, demonstrating its dedication to shareholder value.