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) reported third quarter 2020 results, revealing sales of $203.5 million, a 9.4% decline from $224.7 million in Q3 2019. Gross profit margin improved to 24.9%, up 800 basis points, while income from continuing operations rose to $19.4 million, or $0.54 per share. Adjusted EBITDA increased by 46% to $32.6 million, and adjusted net income was $22.1 million, a 39.7% rise. The company reinstated its 2020 guidance, forecasting revenue between $660 million and $680 million. Consolidated backlog reached $280.6 million, reflecting strong demand for parcel delivery vehicles.
The Shyft Group has launched the Velocity F2, a new Class 2 walk-in van designed to meet the rising demand for e-commerce and delivery services. Built on a Ford Transit chassis with a sub-10,000 lb. GVWR, it offers improved fuel efficiency and cargo capacity comparable to traditional delivery vans. The vehicle is production-ready, with orders now being accepted. Key benefits include lower total cost of ownership, no need for a commercial driver's license, and compliance ease with DOT regulations. This move aims to support growing delivery fleet requirements across the industry.
Utilimaster, part of The Shyft Group (NASDAQ: SHYF), is responding to the rising demand for home delivery vehicles. The company offers a diversified range of last-mile delivery vehicles, including walk-in vans and cargo van upfits, designed for various chassis and classes. With over 40 years of experience, Utilimaster focuses on customized solutions that enhance safety and efficiency. Their latest product line is primed for the booming e-commerce and home delivery sectors, featuring innovations that address cost, fuel efficiency, and cargo capacity needs.
The Shyft Group, a leader in specialty vehicle manufacturing, will announce its Q3 2020 results on November 5, 2020, before market opening. A conference call at 10 a.m. EST will follow, allowing analysts and investors to discuss the results. This event is significant for stakeholders as it may impact stock performance and provide insights into the company's financial health. The Shyft Group reported $757 million in sales from continuing operations in 2019, serving various sectors including delivery and utility services.
The Shyft Group (NASDAQ: SHYF) has acquired F3 MFG Inc., a prominent aluminum truck body and accessory manufacturer, adding the DuraMag and Magnum brands to its offerings. This acquisition follows Shyft's recent purchase of Royal Truck Body, positioning Shyft as a national service body manufacturer. F3's sales grew at a 74% CAGR from 2015 to 2019, reaching $25 million in 2019. The deal was funded with cash and is expected to contribute positively to Shyft's earnings in 2021.
The Shyft Group (NASDAQ: SHYF), a leader in specialty vehicle manufacturing, is hosting a virtual event for Manufacturing Day on Sept. 29, 2020, to educate students about careers in manufacturing. This year marks the fourth consecutive year Shyft has participated in this initiative, aiming to reach more students through a digital format. The event will feature insights from various Shyft employees, showcasing opportunities within the company. Previously, Shyft engaged local students across several states through in-person events at its facilities.
Utilimaster, part of The Shyft Group (NASDAQ: SHYF), showcased innovative parcel delivery vehicles at the 2020 Contractor Expo in Nashville, held from Sept. 18-19. This event marked a return to in-person exhibitions amid the COVID-19 pandemic, focusing on vehicle efficiency for parcel contractors. The company presented a range of vehicles, enhancing productivity and safety for delivery operations. Attendees engaged with the sales team, while new insights from the expo are expected to inform future vehicle innovations.
Utilimaster, part of The Shyft Group (NASDAQ: SHYF), is hosting a remote job fair on September 16 from 10 a.m. to 6 p.m. at The Roosevelt Center in Elkhart, Indiana, to meet rising production demands for fleet vehicles. The company seeks to recruit for general assembly positions with competitive wages starting at $15.50 per hour for day shifts and $17.25 for night shifts. Benefits include daily transportation, medical coverage, and tuition reimbursement. This initiative highlights the growing need for delivery vehicles amid a surge in e-commerce.
The Shyft Group (NASDAQ: SHYF) is expanding its operations by opening a new 35,000-square-foot manufacturing facility in Jupiter, Florida, primarily for Strobes-R-Us specialty vehicle fleet upfits and retail sales. This expansion will elevate the company’s Florida manufacturing capacity to over 50,000 square feet. The new facility aims to support the increasing demand for upfit solutions in last-mile delivery and specialty service fleets, creating 40 skilled trades positions. The Shyft Group reported $757 million in sales from continuing operations in 2019.
The Shyft Group (NASDAQ: SHYF) will host a virtual webinar titled 'Unlocking Your Perfect Delivery Vehicle' on August 28, 2020, focusing on parcel delivery contractors. This event will provide insights into four key Utilimaster vehicle platforms designed for the growing last-mile delivery market. Participants will learn about vehicle capabilities and have the opportunity to engage in a Q&A session. The company's president highlighted the demand surge for parcel delivery and its ability to support this sector through its extensive product portfolio and production capacity.