The Shyft Group, Inc. Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2023
October 26, 2023 at 07:31 am EDT
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The Shyft Group, Inc. reported earnings results for the third quarter and nine months ended September 30, 2023. For the third quarter, the company reported sales was USD 201.33 million compared to USD 286.08 million a year ago. Net income was USD 4.52 million compared to USD 17.29 million a year ago. Basic earnings per share from continuing operations was USD 0.13 compared to USD 0.49 a year ago. Diluted earnings per share from continuing operations was USD 0.13 compared to USD 0.49 a year ago.
For the nine months, sales was USD 669.87 million compared to USD 725.15 million a year ago. Net income was USD 10.91 million compared to USD 18.72 million a year ago. Basic earnings per share from continuing operations was USD 0.31 compared to USD 0.53 a year ago. Diluted earnings per share from continuing operations was USD 0.31 compared to USD 0.53 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.
THE SHYFT GROUP, INC. 
