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) is highlighting key fleet and work truck offerings at the General Motors Virtual Solutions Summit starting August 25. Notably, the launch of Royal Truck Body's Severe Duty service body features durable construction aimed at enhancing performance for contractors. Additionally, Utilimaster showcases its versatile Utilivan targeted at the growing parcel delivery market. Following its rebranding from Spartan Motors, the company emphasizes its commitment to specialty vehicle markets, reporting $757 million in sales for 2019.
The Shyft Group (NASDAQ: SHYF) has announced the production of its first electric vehicles (EVs) for parcel delivery customers. This marks a significant step for its Utilimaster brand, which will use a new flexible body assembly line to manufacture these EV walk-in vans. The vehicles will undergo testing for route performance and customer feedback will be utilized to enhance their features. Production is slated for 2021, aiming for a capacity of up to 5,000 units per year. These EVs will provide a range of up to 150 miles, contributing to Shyft's expansion in the electric delivery vehicle market.
The Shyft Group, Inc. (NASDAQ: SHYF) announced a change in its dividend payment frequency from semi-annual to quarterly. A quarterly cash dividend of $0.025 per share has been declared, payable on September 18, 2020, to shareholders on record by August 18, 2020. This move reflects the company's strong capital position and commitment to enhancing shareholder value. This marks the first quarterly dividend in the company's history, aiming to provide more consistent cash returns to investors.
The Shyft Group (NASDAQ: SHYF) reported second quarter 2020 results, revealing a 31% decline in sales to $124.0 million due to COVID-19-related production challenges. Gross profit margin improved to 19.4%, while income from continuing operations dropped to ($1.1 million) or ($0.03 per share). Adjusted EBITDA was $9.4 million, slightly down from the previous year. However, backlog increased 22.2% to $337.5 million, indicating strong future demand. The company expects third quarter revenues between $180 million and $200 million.
Utilimaster, a brand of The Shyft Group (NASDAQ: SHYF), is hosting its third drive-thru job fair on August 5 from 10 a.m. to 6 p.m. in Bristol, Indiana, to fill positions due to rising demand for specialty delivery vehicles. Applicants will be interviewed in car-side and open-air formats to ensure social distancing. Competitive wages start at $15.50 for day shifts and $17.25 for night shifts, with comprehensive benefits available from the first day. The fair is part of an effort to meet the increasing needs of delivery services.
Utilimaster, part of The Shyft Group (NASDAQ: SHYF), is hosting a drive-thru hiring event on July 28 from 10 a.m. to 6 p.m. in Ephrata, Pennsylvania. The company aims to fill 50-60 positions at its truck body facility due to rising demand. Interviews will follow social distancing measures, with options for car-side and open-air formats. Positions available include general assembly starting at $15.00 per hour and material handling at $16.00, both with immediate benefits. This event follows another successful hiring event last month.
The Shyft Group, a leader in specialty vehicle manufacturing, will release its second quarter 2020 results on August 6, 2020, before markets open. A conference call and webcast for analysts and investors will follow at 10 a.m. EDT. The call can be accessed via telephone or through a webcast available on the company’s investor relations page.
Shyft serves several sectors including delivery, government, and utility services, operating multiple facilities across the U.S. and Mexico. The company's 2019 sales from continuing operations were $757 million.
The Shyft Group (NASDAQ: SHYF), a leader in specialty vehicle manufacturing, announced the appointment of Colin Hindman as Chief Human Resources Officer on June 22, 2020. Hindman will oversee HR strategy aligned with the company's goals, focusing on talent management, organizational supervision, and employee development. With over 20 years of experience, including roles at Dayco and TriMas Corporation, he brings a proven track record in global manufacturing environments. In 2019, Shyft reported sales of $757 million and operates multiple facilities across the U.S. and Mexico.