First Quarter 2021 Earnings Conference Call

05.06.2021

Forward-Looking Statement

This presentation contains several forward-looking statements that are not historical facts, including our revenue and earnings guidance, all other information provided with respect to our outlook for 2021 and future periods, and other statements concerning our business, strategic position, financial projections, financial strength, future plans, objectives, and the performance of our products and operations. These statements can be identified by words such as "believe," "expect," "intend," "potential," "future," "may," "will," "should," "outlook," and similar expressions regarding future expectations. Furthermore, any statements contained in this presentation relating to the COVID-19 pandemic, the impact of which remains inherently uncertain on our financial results, are forward-looking statements. These forward-looking statements involve various known and unknown risks, uncertainties, and assumptions that are difficult to predict with regard to timing, extent, and likelihood. Therefore, actual performance and results may materially differ from what may be expressed or forecasted in such forward-looking statements. Factors that could contribute to these differences include future developments relating to the COVID-19 pandemic, including governmental responses, supply chain shortages, and potential labor issues; operational and other complications that may arise affecting the implementation of our plans and business objectives; continued pressures caused by economic conditions including weaknesses resulting from the COVID-19 pandemic; challenges that may arise in connection with the integration of new businesses or assets we acquire or the disposition of assets; restructuring of our operations, and/or our expansion into new geographic markets; issues unique to government contracting, such as competitive bidding processes, qualification requirements, and delays or changes in funding; disruptions within our dealer network; changes in our relationships with major customers, suppliers, or other business partners; changes in the demand or supply of products within our markets or raw materials needed to manufacture those products; and changes in laws and regulations affecting our business. Other factors that could affect outcomes are set forth in our Annual Report on Form 10-K and other filings we make with the Securities and Exchange Commission (SEC), which are available at www.sec.govor our website. All forward-looking statements in this presentation are qualified by this paragraph. Investors should not place undue reliance on forward-looking statements as a prediction of actual results. We undertake no obligation to publicly update or revise any forward-looking statements in this presentation, whether as a result of new information, future events, or otherwise.

The Financial Results Included Within This Presentation Are From

Continuing Operations Unless Otherwise Noted

© 2021 THE SHYFT GROUP, INC.

2

"We are excited with the strong start to the year, as parcel delivery and luxury

motor coach continues to exceed our expectations - fueled by innovative

products designed to meet our customers' needs.

Operationally, our ongoing focus and investment in manufacturing capability continues to have an impact, as we set a new production record in Bristol and successfully launched the new Velocity plant in Michigan."

Daryl Adams

President and CEO, The Shyft Group

© 2021 THE SHYFT GROUP, INC.

3

Overview - 1Q21 vs. 1Q20

Revenue

Income from Continuing Operations

($ M)

($ M and EPS)

$197.9

$176.9

$11.7

$11.5

$0.33$0.32

1Q20

1Q21

1Q20

1Q21

Backlog nearly doubles year-over-year to a record $667M

© 2021 THE SHYFT GROUP, INC.

4

Segment Update

Fleet Vehicles and Services

Velocity M3

  • Velocity orders remain robust, including first 350-unit order for M3
  • Set a new monthly production record in Bristol for WIV vehicle
  • Successfully completed initial 500-unit truck body build at Kansas City operations

Specialty Vehicles

Service Truck Body

  • Motorcoach chassis demand continues - 1Q21 market share increases to 30.5%
  • Service truck body revenues accelerating - obtained GM ship- thru status for Charlotte upfit center
  • Launched Isuzu new Class 5 vehicle - After new Class 7 launch in Q3, Builtmore will be manufacturing Isuzu Classes 3 - 7

*Within 300 mile radius of manufacturing locations

© 2021 THE SHYFT GROUP, INC.

5

This is an excerpt of the original content. To continue reading it, access the original document here.

Attachments

  • Original document
  • Permalink

Disclaimer

Shyft Group Inc. published this content on 06 May 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 06 May 2021 12:36:05 UTC.