Declared Dividend • May 02
First quarter dividend of US$0.05 announced Dividend of US$0.05 is the same as last year. Ex-date: 16th May 2025 Payment date: 16th June 2025 Dividend yield will be 2.2%, which is higher than the industry average of 1.7%. Sustainability & Growth Dividend is not covered by earnings (dividend approximately 15x earnings). However, it is well covered by cash flows (42% cash payout ratio). The dividend has increased by an average of 7.2% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. The company's earnings per share (EPS) would need to grow by 1,654% to bring the payout ratio under control. EPS is expected to grow by 109% over the next year, which means the dividend may need to be reduced to reach a sustainable payout ratio. Announcement • Apr 30
The Shyft Group Announces Quarterly Dividend, Payable on June 16, 2025 The Shyft Group, Inc. announced that its Board of Directors authorized a cash dividend of $0.05 per share of common stock. The company
reported that its quarterly dividend will be payable on June 16, 2025 to shareholders of record as of the close of business on May 16, 2025. Reported Earnings • Apr 25
First quarter 2025 earnings: EPS and revenues exceed analyst expectations First quarter 2025 results: US$0.041 loss per share (improved from US$0.14 loss in 1Q 2024). Revenue: US$204.6m (up 3.4% from 1Q 2024). Net loss: US$1.44m (loss narrowed 69% from 1Q 2024). Revenue exceeded analyst estimates by 2.8%. Earnings per share (EPS) also surpassed analyst estimates by 76%. Revenue is forecast to grow 11% p.a. on average during the next 2 years, compared to a 3.3% growth forecast for the Machinery industry in the US. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 60 percentage points per year, which is a significant difference in performance. New Risk • Apr 24
New major risk - Revenue and earnings growth Earnings have declined by 32% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (0.5x net interest cover). Earnings have declined by 32% per year over the past 5 years. Minor Risk Paying a dividend despite being loss-making. Buy Or Sell Opportunity • Apr 24
Now 26% overvalued Over the last 90 days, the stock has fallen 24% to US$9.21. The fair value is estimated to be US$7.31, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has declined by 11% over the last 3 years. Meanwhile, the company became loss making. Announcement • Apr 24
The Shyft Group, Inc. Provides Earnings Guidance for the Full-Year 2025 The Shyft Group, Inc. provided earnings guidance for the Full-year 2025. For the year, the company expects sales of $870 million to $970 million. Announcement • Apr 19
The Shyft Group, Inc. to Report Q1, 2025 Results on Apr 24, 2025 The Shyft Group, Inc. announced that they will report Q1, 2025 results Pre-Market on Apr 24, 2025 Announcement • Apr 01
The Shyft Group, Inc., Annual General Meeting, May 14, 2025 The Shyft Group, Inc., Annual General Meeting, May 14, 2025. Reported Earnings • Feb 20
Full year 2024 earnings: EPS and revenues miss analyst expectations Full year 2024 results: US$0.081 loss per share (down from US$0.19 profit in FY 2023). Revenue: US$786.2m (down 9.9% from FY 2023). Net loss: US$2.80m (down 143% from profit in FY 2023). Revenue missed analyst estimates by 1.3%. Earnings per share (EPS) were also behind analyst expectations. Revenue is forecast to grow 10% p.a. on average during the next 2 years, compared to a 3.4% growth forecast for the Machinery industry in the US. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 54 percentage points per year, which is a significant difference in performance. Announcement • Feb 20
The Shyft Group, Inc. Provides Earnings Guidance for the Full-Year 2025 The Shyft Group, Inc. provided earnings guidance for the full-year 2025. For the year, the company expected Sales of $870 million to $970 million, up 17% year-over-year at the midpoint. Announcement • Feb 15
The Shyft Group Announces Quarterly Cash Dividend, Payable on March 28, 2025 The Shyft Group, Inc. announced that its Board of Directors authorized a quarterly cash dividend of $0.05 per share of common stock. The company reported that its quarterly dividend will be payable on March 28, 2025 to shareholders of record as of the close of business on February 27, 2025. Announcement • Feb 08
The Shyft Group, Inc. to Report Q4, 2024 Results on Feb 20, 2025 The Shyft Group, Inc. announced that they will report Q4, 2024 results Pre-Market on Feb 20, 2025 Announcement • Dec 31
The Shyft Group, Inc. Announces the Appointment of Scott Ocholik as Interim Chief Financial Officer, Effective January 1, 2025 The Shyft Group, Inc. announced the appointment of Scott Ocholik, Vice President, Chief Accounting Officer, and Corporate Controller, as Interim Chief Financial Officer, effective January 1, 2025. The appointment follows the previously announced resignation of CFO Jon Douyard. Ocholik has served as Vice President, Chief Accounting Officer, and Corporate Controller since 2022, after joining Shyft in 2019 as Vice President and Corporate Controller. Prior to Shyft, he was Executive Vice President and Chief Financial Officer at Gestamp North America. He earned a Bachelor of Arts in Accounting and a Master of Business Administration from Michigan State University. Announcement • Dec 17
Aebi Schmidt Holding AG entered into an agreement to acquire The Shyft Group, Inc. (NasdaqGS:SHYF) in a reverse merger transaction Aebi Schmidt Holding AG entered into an agreement to acquire The Shyft Group, Inc. (NasdaqGS:SHYF) in a reverse merger transaction on December 16, 2024. Under the terms of the agreement, each outstanding share of Shyft common stock will be exchanged for 1.040166432 shares of the combined company’s common stock. At closing, Shyft shareholders will own 48 percent of the combined company, with Aebi Schmidt shareholders owning 52 percent. The Board of Directors will consist of 11 directors, with five directors nominated by Shyft and six directors nominated by Aebi Schmidt. Seven of these directors will be independent. Aebi Schmidt majority shareholder Peter Spuhler, an entrepreneurial Swiss-based investor with a strong track record of successful investments in leading industrials companies, will own approximately 35% of the combined company upon completion of the transaction. Upon completion of the transaction, the combined company will trade on NASDAQ. Barend Fruithof, chief executive officer of Aebi Schmidt, will serve as chief executive officer of the combined company and be based in the US. James Sharman, Chairman of Shyft, will serve as the Chairman of the Board of Directors. The Shyft Group surviving as a wholly owned subsidiary of Aebi Schmidt. John Dunn, Shyft chief executive officer, will remain with the company following the close of the transaction to support a seamless integration. Additional leadership will draw on the highly experienced teams of both companies. The company will be a Swiss-domiciled stock corporation, headquartered in Switzerland, with a strong presence and significant footprint in the US. UBS and Zürcher Kantonalbank are providing committed debt financing for the transaction.
The transaction has been approved by the board of director of each company. The transaction subject to the satisfaction of customary closing conditions, including receipt of customary regulatory approvals and approval by Shyft. The transaction is expected to close by mid-2025. The transaction is expected to be accretive to EPS and generate Return on Invested Capital (ROIC) above Weighted Average Cost of Capital (WACC) by the first and third years following the close of the transaction, respectively, creating a highly attractive opportunity for the shareholders of the combined company.
Deutsche Bank acted as financial advisor and provided a fairness opinion to the Board of Directors of Shyft. James P. Dougherty, Dmitriy Molchanov, Kyoko Takahashi Lin, Jack Orford, Michael Mollerus, Jesse Solomon, Hillary A. Coleman and Frank Azzopardi of Davis Polk & Wardwell LLP acted as legal advisor, with Lenz & Staehelin acting as local Swiss counsel. Alantra acted as financial advisor and Wuersch & Gering and Baer & Karrer acted as legal advisors to Aebi Schmidt. Announcement • Nov 21
The Shyft Group, Inc. Announces Resignation of Jon Douyard as Chief Financial Officer, effective December 31, 2024 The Shyft Group, Inc. announced that Jon Douyard has resigned as Chief Financial Officer to pursue another professional opportunity outside the industry. He will continue to serve as CFO until December 31, 2024 to ensure a smooth transition. The company Board of Directors is commencing a comprehensive search for a new CFO, supported by a independent executive search firm. The Company is considering both internal and external succession candidates. Declared Dividend • Nov 03
Third quarter dividend of US$0.05 announced Dividend of US$0.05 is the same as last year. Ex-date: 15th November 2024 Payment date: 16th December 2024 Dividend yield will be 1.5%, which is lower than the industry average of 1.7%. Sustainability & Growth Dividend is being paid despite the company being loss-making over the last 12 months. However, the dividend is covered by cash flows (55% cash payout ratio). The dividend has increased by an average of 7.2% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. Announcement • Oct 31
The Shyft Group, Inc. Announces Quarterly Cash Dividend, Payable on December 16, 2024 The Shyft Group, Inc. announced that its Board of Directors authorized a cash dividend of $0.05 per share of common stock. The company reported that its quarterly dividend will be payable on December 16, 2024 to shareholders of record as of the close of business on November 15, 2024. New Risk • Oct 26
New major risk - Financial position The company's interest payments are not well covered by earnings. Net interest cover: 0.08x This is considered a major risk. If the company is unable to fund interest repayments on its debt through profits, it may be forced into reducing its debt burden through selling assets, undertaking a potentially costly capital raising or even into bankruptcy in the worst case scenario. Currently, the following risks have been identified for the company: Major Risk Interest payments are not well covered by earnings (0.08x net interest cover). Minor Risk Paying a dividend despite being loss-making. Reported Earnings • Oct 25
Third quarter 2024 earnings: EPS exceeds analyst expectations while revenues lag behind Third quarter 2024 results: EPS: US$0.091 (down from US$0.13 in 3Q 2023). Revenue: US$194.1m (down 3.6% from 3Q 2023). Net income: US$3.12m (down 31% from 3Q 2023). Profit margin: 1.6% (down from 2.2% in 3Q 2023). The decrease in margin was driven by lower revenue. Revenue missed analyst estimates by 6.6%. Earnings per share (EPS) exceeded analyst estimates by 38%. Revenue is forecast to grow 7.1% p.a. on average during the next 3 years, compared to a 2.9% growth forecast for the Machinery industry in the US. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 37 percentage points per year, which is a significant difference in performance. Announcement • Oct 24
The Shyft Group, Inc. Provides Earnings Guidance for the Year 2024 The Shyft Group, Inc. provided earnings guidance for the year 2024. For the year, the company expects sales to be $800 million, assumes no Blue Arc EV revenue. Net income to be between $2.6 million to $6.9 million. Earnings per share to be between $0.07 to $0.20. Announcement • Oct 11
The Shyft Group, Inc. to Report Q3, 2024 Results on Oct 24, 2024 The Shyft Group, Inc. announced that they will report Q3, 2024 results Pre-Market on Oct 24, 2024 Announcement • Sep 03
Builtmore Contract Manufacturing Powers Up Production of Isuzu's All-New NRR-EV Builtmore Contract Manufacturing, a go-to-market brand of The Shyft Group, Inc. has commenced production of the Isuzu NRR-EV at its facility in Charlotte, Michigan. This achievement stems from a long-standing relationship between Builtmore and Isuzu North America Corporation, bringing an innovative electric vehicle option to the commercial market. The all-new Isuzu NRR- EV combines advanced electric powertrain technology with a versatile design to meet the evolving needs of commercial fleets. It features multiple battery configurations and regenerative braking for optimal performance, along with driver assistance systems and fast-charging capabilities for enhanced safety and convenience. The vehicle's durable, high-tensile-strength frame and improved aerodynamics ensure both efficiency and longevity. This production launch underscores Builtmore's commitment to manufacturing excellence and its ability to meet the evolving demands of the electric vehicle market. Builtmore has also implemented extensive employee training to ensure a safe and efficient manufacturing environment, reinforcing its dedication to quality and safety. The Isuzu NRR-EV is now available for ordering, with first deliveries expected in September 2024. Declared Dividend • Aug 05
Second quarter dividend of US$0.05 announced Dividend of US$0.05 is the same as last year. Ex-date: 16th August 2024 Payment date: 16th September 2024 Dividend yield will be 1.4%, which is lower than the industry average of 1.7%. Sustainability & Growth Dividend is being paid despite the company being loss-making over the last 12 months and having no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has increased by an average of 7.2% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. Announcement • Aug 02
The Shyft Group Announces Quarterly Dividend, Payable on September 16, 2024 The Shyft Group, Inc. announced that its Board of Directors authorized a cash dividend of $0.05 per share of common stock. The Michigan-based manufacturer reported that its quarterly dividend will be payable on September 16, 2024 to shareholders of record as of the close of business on August 16, 2024. New Risk • Jul 29
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of American stocks, typically moving 10% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. This is currently the only risk that has been identified for the company. Reported Earnings • Jul 26
Second quarter 2024 earnings: EPS exceeds analyst expectations while revenues lag behind Second quarter 2024 results: EPS: US$0.063 (down from US$0.13 in 2Q 2023). Revenue: US$192.8m (down 14% from 2Q 2023). Net income: US$2.16m (down 54% from 2Q 2023). Profit margin: 1.1% (down from 2.1% in 2Q 2023). The decrease in margin was driven by lower revenue. Revenue missed analyst estimates by 4.3%. Earnings per share (EPS) exceeded analyst estimates by 167%. Revenue is forecast to grow 6.5% p.a. on average during the next 3 years, compared to a 3.5% growth forecast for the Machinery industry in the US. Over the last 3 years on average, earnings per share has fallen by 57% per year but the company’s share price has only fallen by 30% per year, which means it has not declined as severely as earnings. Price Target Changed • Jul 26
Price target increased by 7.7% to US$14.00 Up from US$13.00, the current price target is an average from 3 analysts. New target price is approximately in line with last closing price of US$13.79. Stock is down 8.7% over the past year. The company is forecast to post earnings per share of US$0.28 for next year compared to US$0.19 last year. Announcement • Jul 17
The Shyft Group, Inc. to Report Q2, 2024 Results on Jul 25, 2024 The Shyft Group, Inc. announced that they will report Q2, 2024 results on Jul 25, 2024 Declared Dividend • May 08
First quarter dividend of US$0.05 announced Dividend of US$0.05 is the same as last year. Ex-date: 16th May 2024 Payment date: 17th June 2024 Dividend yield will be 1.6%, which is about the same as the industry average. Sustainability & Growth Dividend is not covered by earnings (dividend approximately 59x earnings). However, it is well covered by cash flows (28% cash payout ratio). The dividend has increased by an average of 7.2% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. The company's earnings per share (EPS) would need to grow by 6,461% to bring the payout ratio under control. EPS is expected to grow by 506% over the next 3 years, which means the dividend may need to be reduced to reach a sustainable payout ratio. Major Estimate Revision • May 02
Consensus EPS estimates fall by 18% The consensus outlook for fiscal year 2024 has been updated. 2024 EPS estimate fell from US$0.19 to US$0.155 per share. Revenue forecast steady at US$868.1m. Net income forecast to grow 10,599% next year vs 14% growth forecast for Machinery industry in the US. Consensus price target of US$13.00 unchanged from last update. Share price rose 10% to US$12.39 over the past week. Announcement • Apr 26
The Shyft Group, Inc. Provides Earnings Guidance for the Year 2024 The Shyft Group, Inc. provided earnings guidance for the year 2024. For the year, Sales to be in the range of $850 million to $900 million; Assumes no Blue Arc EV revenue; Net income of $2.5 to $10.5 million, with an income tax rate of approximately 20%. Earnings per share of $0.07 to $0.30. Reported Earnings • Apr 25
First quarter 2024 earnings: EPS and revenues exceed analyst expectations First quarter 2024 results: US$0.14 loss per share (down from US$0.049 profit in 1Q 2023). Revenue: US$197.9m (down 19% from 1Q 2023). Net loss: US$4.67m (down 373% from profit in 1Q 2023). Revenue exceeded analyst estimates by 7.4%. Earnings per share (EPS) also surpassed analyst estimates by 36%. Revenue is forecast to grow 7.3% p.a. on average during the next 2 years, compared to a 3.5% growth forecast for the Machinery industry in the US. Over the last 3 years on average, earnings per share has fallen by 38% per year but the company’s share price has only fallen by 32% per year, which means it has not declined as severely as earnings. Buy Or Sell Opportunity • Apr 17
Now 20% undervalued after recent price drop Over the last 90 days, the stock has fallen 3.3% to US$10.41. The fair value is estimated to be US$13.06, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 9.8% over the last 3 years. Earnings per share has declined by 21%. Revenue is forecast to grow by 7.7% in 2 years. Earnings are forecast to grow by 248% in the next 2 years. Announcement • Apr 17
The Shyft Group, Inc. to Report Q1, 2024 Results on Apr 25, 2024 The Shyft Group, Inc. announced that they will report Q1, 2024 results Pre-Market on Apr 25, 2024 Announcement • Apr 04
The Shyft Group, Inc., Annual General Meeting, May 15, 2024 The Shyft Group, Inc., Annual General Meeting, May 15, 2024, at 10:00 US Eastern Standard Time. Agenda: To approve election of three directors to serve until the Annual Meeting of Shareholders in 2027; to approve ratification of appointment of independent registered public accounting firm; to approve an advisory basis, of the compensation of named executive officers; and to transact other business as may properly come before the meeting. Buy Or Sell Opportunity • Feb 26
Now 21% undervalued after recent price drop Over the last 90 days, the stock has fallen 6.2% to US$10.44. The fair value is estimated to be US$13.16, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 9.8% over the last 3 years. Earnings per share has declined by 21%. Revenue is forecast to grow by 10% in 2 years. Earnings are forecast to grow by 306% in the next 2 years. Reported Earnings • Feb 23
Full year 2023 earnings: Revenues exceed analysts expectations while EPS lags behind Full year 2023 results: EPS: US$0.19 (down from US$1.04 in FY 2022). Revenue: US$872.2m (down 15% from FY 2022). Net income: US$6.50m (down 82% from FY 2022). Profit margin: 0.7% (down from 3.6% in FY 2022). The decrease in margin was driven by lower revenue. Revenue exceeded analyst estimates by 1.3%. Earnings per share (EPS) missed analyst estimates by 5.0%. Revenue is forecast to grow 4.8% p.a. on average during the next 2 years, compared to a 3.3% growth forecast for the Machinery industry in the US. Over the last 3 years on average, earnings per share has fallen by 21% per year but the company’s share price has fallen by 30% per year, which means it is performing significantly worse than earnings. Announcement • Feb 23
The Shyft Group, Inc. Provides Consolidated Earnings Guidance for the Year Ending December 31, 2024 The Shyft Group, Inc. provided consolidated earnings guidance for the year ending December 31, 2024. For the year, sales to be in the range of $850 million to $900 million, net income to be in the range of $2.5 million to $10.5 million and earnings per share to be in the range of $0.07 to $0.30. Major Estimate Revision • Feb 22
Consensus EPS estimates fall by 13% The consensus outlook for earnings per share (EPS) in fiscal year 2023 has deteriorated. 2023 revenue forecast decreased from US$870.6m to US$861.4m. EPS estimate also fell from US$0.23 per share to US$0.20 per share. Net income forecast to shrink 62% next year vs 21% growth forecast for Machinery industry in the US . Consensus price target of US$13.67 unchanged from last update. Share price was steady at US$11.00 over the past week. Upcoming Dividend • Feb 08
Upcoming dividend of US$0.05 per share at 1.8% yield Eligible shareholders must have bought the stock before 15 February 2024. Payment date: 18 March 2024. Payout ratio is a comfortable 24% and this is well supported by cash flows. Trailing yield: 1.8%. Lower than top quartile of American dividend payers (4.8%). In line with average of industry peers (1.7%). Declared Dividend • Feb 04
Third quarter dividend of US$0.05 announced Dividend of US$0.05 is the same as last year. Ex-date: 15th February 2024 Payment date: 18th March 2024 Dividend yield will be 1.8%, which is higher than the industry average of 1.7%. Sustainability & Growth Dividend is well covered by both earnings (24% earnings payout ratio) and cash flows (14% cash payout ratio). The dividend has increased by an average of 7.2% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to grow by 86% over the next 2 years, which should provide support to the dividend and adequate earnings cover. Announcement • Feb 03
The Shyft Group, Inc. to Report Q4, 2023 Results on Feb 22, 2024 The Shyft Group, Inc. announced that they will report Q4, 2023 results Pre-Market on Feb 22, 2024 Announcement • Feb 02
The Shyft Group, Inc. Announces Quarterly Dividend, Payable on March 18, 2024 The Shyft Group, Inc. announced that its Board of Directors authorized a cash dividend of $0.05 per share of common stock. The Michigan-based manufacturer reported that its quarterly dividend will be payable on March 18, 2024 to shareholders of record as of the close of business on February 16, 2024. Announcement • Jan 10
The Shyft Group, Inc. Appoints Jacob Farmer as President of Fleet Vehicles and Services The Shyft Group, Inc. announced that it has appointed Jacob Farmer as President of Fleet Vehicles and Services (FVS), effective January 9, 2024, reporting to John Dunn, President and CEO. In his new role, Farmer is responsible for FVS operations and implementing the business's strategic vision. Farmer previously served as President of Shyft’s Specialty Vehicles (SV) business. Before joining Shyft, Farmer served as President and CEO of Trialon Corporation and Global Vice President and General Manager of the Industrial & Specialty Group at Cooper Standard. He holds an Executive MBA from Michigan State University and a Bachelor of Science in Business from Indiana University. Announcement • Dec 23
The Shyft Group, Inc. Announces Resignation of Thomas Clevinge to Board of Directors, Effective December 31, 2023 On December 22, 2023, Thomas Clevinger, a member of the Board of Directors of The Shyft Group, Inc. resigned from the Company’s Board of Directors (the “Board”) effective December 31, 2023. Mr. Clevinger has indicated that his resignation was due to personal reasons and not the result of any disagreement with the Company, its management, the Board or any committee of the Board. Effective upon Mr. Clevinger’s resignation as a director, the size of the Company's Board will be reduced from ten to nine directors. Upcoming Dividend • Nov 08
Upcoming dividend of US$0.05 per share at 1.8% yield Eligible shareholders must have bought the stock before 15 November 2023. Payment date: 15 December 2023. Payout ratio is a comfortable 24% and this is well supported by cash flows. Trailing yield: 1.8%. Lower than top quartile of American dividend payers (5.1%). In line with average of industry peers (1.9%). Recent Insider Transactions • Nov 02
Chief Financial Officer recently bought US$101k worth of stock On the 27th of October, Jonathan Douyard bought around 9k shares on-market at roughly US$11.10 per share. This transaction amounted to 19% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. This was Jonathan's only on-market trade for the last 12 months. Major Estimate Revision • Nov 02
Consensus EPS estimates fall by 28% The consensus outlook for earnings per share (EPS) in fiscal year 2023 has deteriorated. 2023 revenue forecast decreased from US$903.3m to US$870.6m. EPS estimate also fell from US$0.32 per share to US$0.23 per share. Net income forecast to shrink 51% next year vs 13% growth forecast for Machinery industry in the US . Consensus price target down from US$19.00 to US$13.67. Share price fell 3.5% to US$11.38 over the past week. Announcement • Nov 01
The Shyft Group, Inc. Authorizes Quarterly Cash Dividend, Payable on December 15, 2023 The Shyft Group, Inc. announced that its Board of Directors authorized a cash dividend of $0.05 per share of common stock. The Michigan-based manufacturer reported that its quarterly dividend will be payable on December 15, 2023 to shareholders of record as of the close of business on November 16, 2023. Announcement • Oct 28
The Shyft Group, Inc. Revises Earnings Guidance for the Full Year 2023 The Shyft Group, Inc. revised earnings guidance for the full year 2023. For the period, the company expects sales to be in the range of $850 million to $900 million compared to the previous outlook of $850 to $950 million. Net Income of $4 to $9 million compared to the previous outlook of $1 to $16 million. Earnings per share of $0.13 to $0.27 compared to the previous outlook of $0.03 to $0.46. Reported Earnings • Oct 27
Third quarter 2023 earnings: EPS exceeds analyst expectations while revenues lag behind Third quarter 2023 results: EPS: US$0.13 (down from US$0.49 in 3Q 2022). Revenue: US$201.3m (down 30% from 3Q 2022). Net income: US$4.52m (down 74% from 3Q 2022). Profit margin: 2.2% (down from 6.0% in 3Q 2022). The decrease in margin was driven by lower revenue. Revenue missed analyst estimates by 3.1%. Earnings per share (EPS) exceeded analyst estimates. Revenue is forecast to grow 5.8% p.a. on average during the next 3 years, compared to a 4.3% growth forecast for the Machinery industry in the US. Over the last 3 years on average, earnings per share has fallen by 8% per year but the company’s share price has fallen by 17% per year, which means it is performing significantly worse than earnings. Major Estimate Revision • Oct 22
Consensus EPS estimates fall by 28% The consensus outlook for earnings per share (EPS) in fiscal year 2023 has deteriorated. 2023 revenue forecast decreased from US$903.3m to US$888.6m. EPS estimate also fell from US$0.32 per share to US$0.23 per share. Net income forecast to shrink 58% next year vs 14% growth forecast for Machinery industry in the US . Consensus price target down from US$19.00 to US$18.00. Share price fell 17% to US$11.55 over the past week. Valuation Update With 7 Day Price Move • Oct 20
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to US$11.55, the stock trades at a forward P/E ratio of 24x. Average forward P/E is 18x in the Machinery industry in the US. Total loss to shareholders of 44% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at US$5.60 per share. Announcement • Oct 11
The Shyft Group, Inc. to Report Q3, 2023 Results on Oct 26, 2023 The Shyft Group, Inc. announced that they will report Q3, 2023 results Pre-Market on Oct 26, 2023 Upcoming Dividend • Aug 09
Upcoming dividend of US$0.05 per share at 1.3% yield Eligible shareholders must have bought the stock before 16 August 2023. Payment date: 18 September 2023. Payout ratio is a comfortable 17% and this is well supported by cash flows. Trailing yield: 1.3%. Lower than top quartile of American dividend payers (4.7%). Lower than average of industry peers (1.6%). Recent Insider Transactions • Aug 03
Independent Chairman of the Board recently bought US$110k worth of stock On the 28th of July, James Sharman bought around 8k shares on-market at roughly US$14.50 per share. This transaction amounted to 6.7% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. This was James' only on-market trade for the last 12 months. Announcement • Aug 03
The Shyft Group Announces Quarterly Dividend, Payable on September 18, 2023 The Shyft Group, Inc. announced that its Board of Directors authorized a cash dividend of $0.05 per share of common stock. The quarterly dividend will be payable on September 18, 2023 to shareholders of record as of the close of business on August 17, 2023. Major Estimate Revision • Aug 03
Consensus revenue estimates fall by 18% The consensus outlook for revenues in fiscal year 2023 has deteriorated. 2023 revenue forecast decreased from US$1.10b to US$901.8m. EPS estimate fell from US$1.13 to US$0.33 per share. Net income forecast to shrink 53% next year vs 13% growth forecast for Machinery industry in the US . Consensus price target down from US$31.00 to US$18.80. Share price fell 26% to US$15.63 over the past week. New Risk • Jul 29
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 14% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risk Earnings are forecast to decline by an average of 14% per year for the foreseeable future. Minor Risk Share price has been volatile over the past 3 months (12% average weekly change). Price Target Changed • Jul 28
Price target decreased by 36% to US$20.40 Down from US$31.80, the current price target is an average from 5 analysts. New target price is 35% above last closing price of US$15.11. Stock is down 42% over the past year. The company is forecast to post earnings per share of US$0.38 for next year compared to US$1.04 last year. Announcement • Jul 28
The Shyft Group, Inc. Provides Earnings Guidance for the Full Year 2023 The Shyft Group, Inc. provided earnings guidance for the full year 2023. For the period, the company expects Sales to be in the range of $850 million to $950 million compared to the previous outlook of $1.0 to $1.2 billion. Net Income of $1 to $16 million compared to the previous outlook of $28 to $50 million. Earnings per share of $0.03 to $0.46 compared to the previous outlook of $0.77 to $1.39. Announcement • Jul 12
The Shyft Group, Inc. Appoints Jacob Farmer as President, Specialty Vehicles The Shyft Group, Inc. named Jacob Farmer as President, Specialty Vehicles, effective July 17, 2023. In his new role, Mr. Farmer will be responsible for all aspects of the business, working with his senior leadership team across seven go-to-market brands to guide the strategic vision of the business unit and oversee its implementation to deliver shareholder value. The Specialty Vehicles business segment includes Royal® Truck Body, DuraMag® and Magnum®, Strobes-R-Us, Spartan® RV Chassis, Red Diamond™ Aftermarket Solutions and Builtmore Contract Manufacturing™. Mr. Farmer brings extensive experience in operations and manufacturing, margin expansion, growth acceleration, program management, product launch and mergers and acquisitions. He most recently served as President and CEO of Trialon Corporation. Previously, Mr. Farmer held various leadership positions at Cooper Standard, including Global Vice President and General Manager of the Industrial & Specialty Group. He also spent several years at Inteva Products with leadership roles in corporate business strategy. Mr. Farmer is a Six Sigma Green Belt and Certified Purchasing Manager (CPM). He holds an Executive MBA from Michigan State University and a Bachelor of Science in Business from Indiana University. Announcement • May 06
Spartan®? RV Chassis Showcases K3 525 Chassis and Industry-Leading Warranty for Newmar 2024 Model Year Spartan®? RV Chassis, a go-to-market brand of The Shyft Group, Inc. introduced its new K3 525 chassis, designed exclusively for the 2024 Newmar Mountain Aire Class A diesel luxury motorcoach. Boosting horsepower to 525hp, the chassis delivers faster acceleration for best-in-class performance on hills and other challenging terrain. It's further enhanced by Premier Drive™?, Spartan RV Chassis' proprietary suspension system, ensuring superior handling, stability, and ride comfort. Spartan RV Chassis also introduced an warranty for all eight Newmar models built on the Spartan RV chassis, including the Mountain Aire and the best-selling Dutch Star. The new 5-year, 100,000-mile fully transferable warranty, along with the industry's only 20-year, unlimited-mile warranty on frame rails and cross members, and three years of complimentary roadside assistance, reflects an unwavering commitment to customer satisfaction. The K3 525 chassis, equipped with a Cummins diesel engine and the cutting-edge Premier Drive suspension system, features an Independent Front Suspension (IFS) with 20,000 LB capacity, custom-tuned shocks for bump absorption, and best-in-class wheel cut for outstanding maneuverability. The chassis is integrated with Spartan's Connected Coach®? experience, a suite of advanced interactive technologies designed to keep the driver's focus forward, minimize distractions, and enhance comfort and confidence at the wheel. The Connected Coach suite includes a Digital Dash, Tri-Pod Steering Wheel, and the industry's best-in-class Advanced Protection System™?, delivering an interactive, connected experience for motorcoach drivers. Announcement • Feb 01
The Shyft Group, Inc. Announces Quarterly Dividend, Payable on March 17, 2023 The Shyft Group, Inc. announced that its Board of Directors authorized a cash dividend of $0.05 per share of common stock. The company reported that its quarterly dividend will be payable on March 17, 2023 to shareholders of record as of the close of business on February 17, 2023. Announcement • Jan 28
The Shyft Group, Inc. Appoints Scott M. Ocholik as Vice President, Chief Accounting Officer and Corporate Controller The Shyft Group, Inc. announced that Mr. Scott M. Ocholik was appointed Vice President, Chief Accounting Officer and Corporate Controller of the Company effective July 19, 2022. Mr. Ocholik, 49, previously served as Vice President and Corporate Controller of the Company since joining the Company on July 22, 2019. Prior to joining the Company, Mr. Ocholik served as Executive Vice President and Chief Financial Officer at Gestamp North America from December 2015 to May 2018. Mr. Ocholik earned a Bachelor of Arts in Accounting and Master of Business Administration from Michigan State University. The appointment of Mr. Ocholik was not pursuant to any agreement between Mr. Ocholik and any other person. There is no family relationship between Mr. Ocholik and any director or executive officer of the Company, and there are no transactions between Mr. Ocholik and the Company that are required to be reported under Item 404(a) of Regulation S-K. Announcement • Jan 24
The Shyft Group, Inc. to Report Q4, 2022 Results on Feb 23, 2023 The Shyft Group, Inc. announced that they will report Q4, 2022 results Pre-Market on Feb 23, 2023 Announcement • Jan 19
The Shyft Group, Inc. Announces Red Diamond Aftermarket Solutions Introduces New Line of KONI® Premium Shocks At the 2023 Florida RV SuperShow Red Diamond™ Aftermarket Solutions, a go-to-market brand of The Shyft Group, will exhibit at the 2023 Florida RV SuperShow and introduce its line of Red Diamond Shocks by premium manufacturer KONI®. Known for making adjustable shocks for numerous brands of RVs and coaches, KONI’s high-performance, premium twintube shocks feature independent bump and rebound control, which allows for high rebound forces without sacrificing driving comfort. The portfolio of shocks includes the new Frequency Selective Damper (FSD) for select motorhomes, which filters out vibrations before they are detectable inside the coach and offers a smooth ride over expansion joints while controlling pitching and swaying. The Red Diamond brand launched in 2022 to reflect the expanded offerings from its Spartan® RV Chassis’ Parts and Services heritage. It now serves the broader RV market with access to trusted, top-performing aftermarket products, including the Self-Leveling System that enables leveling of the coach at the touch of a button, the RunFlat system that enables drivers to safely steer and brake during a tire blowout, an Air Booster that keeps motorcoach tires at the recommended pressure, and premium windshield wipers. KONI shocks are available for purchase and installation at select Spartan RV Chassis Authorized Service Centers or at the Red Diamond Service Center in Charlotte, Michigan. They can also be purchased online at the Red Diamond website for installation by professional technicians or experienced DIYers. RV SuperShow attendees are invited to visit the Spartan RV exhibit at 560 E Midway to learn more about the Red Diamond KONI shocks, new Red Diamond leveling system and other aftermarket offerings. Announcement • Jan 05
The Shyft Group, Inc. (NasdaqGS:SHYF) completed the acquisition of Certain Assets of Spruce Power. The Shyft Group, Inc. (NasdaqGS:SHYF) agree to acquire Certain Assets of Spruce Power on December 20, 2022. Shyft is also expected to offer employment to engineers and others currently employed.
The Shyft Group, Inc. (NasdaqGS:SHYF) completed the acquisition of Certain Assets of Spruce Power on January 4, 2023. The acquisition includes the option to extend employment opportunities to XL Fleet technical talent, assume a short-term leased facility including equipment in Wixom, Mich., and support the completion of a pilot development agreement with the Department of Defense. 