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.
The Shyft Group, Inc. (NASDAQ: SHYF) is a leader in specialty vehicle manufacturing and upfit solutions for commercial and service markets. This page provides investors and industry professionals with direct access to the company's official news updates, including press releases, strategic initiatives, and operational developments.
Discover timely updates on product innovations, partnership announcements, and financial performance, including quarterly earnings and sustainability efforts. Our curated collection ensures you stay informed about SHYF's advancements in electric vehicle platforms, last-mile delivery solutions, and custom chassis engineering.
Bookmark this page for streamlined access to verified information directly impacting Shyft Group's market position. Check back regularly for real-time updates on their work-driven design philosophy and commercial vehicle upfit expertise.
The Shyft Group (NASDAQ: SHYF), a North American leader in specialty vehicle manufacturing, assembly, and upfit, has declared a quarterly cash dividend of $0.05 per share of common stock. The dividend will be paid on December 16, 2024, to shareholders of record at the close of business on November 15, 2024.
The Shyft Group has announced strategic partnerships with Allegiance Trucks and Ascendance Trucks to establish dealer sales and service for their Blue Arc™ Class 4 all-electric truck in the Northeast region. The partnerships leverage Allegiance and Ascendance's network of 75 locations across 16 states, offering advanced truck sales, flexible leasing, and comprehensive service support.
The Blue Arc Class 4 EV truck features configurable cargo spaces of 600 to 1,000 cubic feet, ergonomic seating, noise-reducing cab, and advanced safety systems including automatic electronic parking brake and keyless entry with auto-lock capabilities.
The Shyft Group (NASDAQ: SHYF) reported Q3 2024 results with sales of $194.1 million, down 3.6% year-over-year. The company achieved net income of $3.1 million ($0.09 per share) and adjusted EBITDA of $14.3 million, representing 7.4% of sales. Gross margin expanded to 20.4%, up 210 basis points year-over-year. The company maintained its full-year 2024 adjusted EBITDA outlook of $45-50 million and expects sales of approximately $800 million. Notable developments include Blue Arc Class 4 vehicle entering production with first deliveries expected in Q4, and consolidated backlog of $345.4 million, down 25.6% year-over-year.
The Shyft Group (NASDAQ: SHYF), a leading North American specialty vehicle manufacturer, has announced its upcoming third quarter 2024 financial results conference call. The company will release its financial results before the market opens on Thursday, October 24, 2024. A conference call and webcast are scheduled to begin at 8:30 A.M. Eastern Time on the same day.
Investors and interested parties can access the presentation, supporting materials, and replay through the company's investor relations website. For those wishing to join the conference call, dial-in numbers have been provided: 1-844-868-8845 (Domestic) or 1-412-317-6591 (International).
The Shyft Group (NASDAQ: SHYF) has released its 2024 Sustainability Report, showcasing significant progress in environmental stewardship, social impact, and governance. Key highlights include:
- A 15% reduction in Scope 2 GHG emissions year-over-year
- An order of 150 Blue Arc™ EV Trucks from FedEx
- A 40% decrease in Total Recordable Incident Rate and 75% reduction in Lost Time Case Incident Rate
- Completion of the company's first physical climate risk assessment
- A commitment to donate $100,000 to non-profit organizations through the Shyft For Good program
The report demonstrates Shyft's dedication to sustainable growth and creating long-term value for stakeholders, employees, and communities.
The Shyft Group (NASDAQ: SHYF), a leader in specialty vehicle manufacturing, announced its participation in the D.A. Davidson 23rd Annual Diversified Industrials & Services Conference. The event is scheduled for Thursday, September 19, 2024, in Nashville, Tennessee.
As North America's top player in specialty vehicle manufacturing, assembly, and upfit for commercial, retail, and service markets, Shyft's management team will be hosting investors at this prestigious conference. This event provides an opportunity for investors to engage with Shyft's leadership and gain insights into the company's operations and future strategies.
The Shyft Group (NASDAQ: SHYF) has announced that its Blue Arc™ Class 4 EV truck has received Zero-Emission Powertrain Certification (ZEPCert) and a Heavy-Duty Greenhouse Gas (GHG) Enhanced Electric Executive Order from the California Air Resources Board (CARB). These certifications allow Blue Arc trucks to be sold across all 50 states, providing nationwide access to advanced commercial-grade EV solutions.
Additionally, the Blue Arc EV truck is now eligible for the Hybrid and Zero-Emission Truck and Bus Voucher Incentive Project (HVIP), offering substantial financial incentives for customers. This program, along with other state and federal incentives, can result in significant cost savings and faster ROI for fleet operators transitioning to electric vehicles.
Builtmore Contract Manufacturing, a brand of The Shyft Group (NASDAQ: SHYF), has begun production of the Isuzu NRR-EV at its Charlotte, Michigan facility. This marks a significant milestone in the collaboration between Builtmore and Isuzu North America , bringing an innovative electric vehicle to the commercial market. The NRR-EV features advanced electric powertrain technology, multiple battery configurations, regenerative braking, and fast-charging capabilities. It also includes state-of-the-art driver assistance systems and improved aerodynamics for efficiency and longevity.
The production launch demonstrates Builtmore's adaptability to the evolving EV market and its commitment to manufacturing excellence. The company has implemented extensive employee training to ensure a safe and efficient manufacturing environment. The Isuzu NRR-EV is now available for ordering, with first deliveries expected in September 2024.
The Shyft Group (NASDAQ: SHYF), a leader in specialty vehicle manufacturing, will participate in the 15th Annual Midwest IDEAS Investor Conference on August 29, 2024, in Chicago. This event provides an opportunity for Shyft's management team to engage with investors and showcase their expertise in the commercial, retail, and service specialty vehicle markets.
As North America's top player in specialty vehicle manufacturing, assembly, and upfit, Shyft's presence at this conference highlights its commitment to investor relations and market visibility. The company's participation underscores its position in the industry and may offer insights into its strategies and future outlook.
The Shyft Group (NASDAQ: SHYF), a leader in specialty vehicle manufacturing, has announced its participation in the Raymond James Industrial and Energy Showcase on August 8, 2024. The company's management team will be meeting with investors during this event.
Shyft Group specializes in manufacturing, assembly, and upfit for commercial, retail, and service specialty vehicles in North America. This showcase provides an opportunity for the company to engage with potential investors and discuss its operations, strategies, and market position.
The event highlights Shyft's commitment to investor relations and its efforts to maintain transparency with stakeholders. It also suggests the company's interest in potentially attracting new investors or strengthening relationships with existing ones.
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