The Shyft Group, Inc. Reports Earnings Results for the First Quarter Ended March 31, 2022
April 28, 2022 at 07:30 am EDT
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The Shyft Group, Inc. reported earnings results for the first quarter ended March 31, 2022. For the first quarter, the company reported sales was USD 206.88 million compared to USD 197.89 million a year ago. Net loss was USD 3.85 million compared to net income of USD 11.58 million a year ago. Basic loss per share from continuing operations was USD 0.11 compared to basic earnings per share from continuing operations of USD 0.33 a year ago. Diluted loss per share from continuing operations was USD 0.11 compared to diluted earnings per share from continuing operations of USD 0.32 a year ago. Basic loss per share was USD 0.11 compared to basic earnings per share of USD 0.33 a year ago. Diluted loss per share was USD 0.11 compared to diluted earnings per share of USD 0.32 a year ago.
The Shyft Group, Inc. is engaged in specialty vehicle manufacturing and assembly for the commercial vehicle, including last-mile delivery, specialty service and vocation-specific upfit segments and recreational vehicle industries. The Companyâs segments include Fleet Vehicles and Services (FVS) and Specialty Vehicles (SV). The FVS segment manufactures commercial vehicles used in the e-commerce/last mile/parcel delivery, beverage and grocery delivery, laundry and linen, mobile retail, and trade and construction industries. The Specialty Vehicles segment includes a portfolio of business that provides service bodies, RV chassis, vocational upfit and contract manufacturing products and services. Its products include walk-in vans, truck bodies, and cargo van and pick-up truck upfits used in e-commerce/parcel delivery, upfit equipment used in the mobile retail and utility trades, and luxury Class A diesel motorhome custom chassis and contract manufacturing and assembly services.