#United States #electric vehicles #Novi #Shyft Group #Aebi Schmidt

The Shyft Group Reports First Quarter 2025 Results

The Shyft Group, Inc. (NASDAQ: SHYF) has announced its financial results for the first quarter ending March 31, 2025, marking a pivotal moment in the company's trajectory as it continues to lead in specialty vehicle manufacturing across North America. The latest financial data reveals a 3.4% increase in sales, raising the total to $204.6 million, up from $197.9 million in the same quarter last year. This upward trend indicates that the company is on a path of steady growth, overcoming previous challenges.

Despite reporting a net loss of $1.4 million, or $0.04 per share, a notable improvement can be seen compared to the loss of $4.7 million or $0.14 per share recorded in Q1 2024. This uplift in profitability is accompanied by an adjusted EBITDA of $12.3 million, which represents 6.0% of sales, reflecting a substantial increase from $6.1 million or 3.1% of sales measured during the previous year.

The company's consolidated backlog as of March 31, 2025, stood at $335.3 million, which is a decrease of $104.1 million, or 23.7%, compared to $439.4 million at the same time last year. However, there has been a positive development with a $22.1 million improvement, or 7.1%, when aligned against the end-of-year backlog.

John Dunn, President and CEO, expressed his satisfaction with the team's ability to achieve better-than-expected results, saying, "We are pleased with our start to the year, and the team's capacity to deliver these results is commendable. Our focused efforts on operational efficiency and commercial growth are positioning us well to capture market share moving forward."

2025 Financial Outlook and Strategic Plans

The outlook for 2025 remains robust, with projected sales ranging from $870 to $970 million. The management is also estimating an adjusted EBITDA between $62 to $72 million. Additionally, adjusted earnings per share are expected to fall between $0.69 to $0.92, while free cash flow targets are positioned between $25 to $30 million.

Scott Ocholik, the Interim Chief Financial Officer, commented on the disciplined execution that led to meaningful margin improvements year-over-year. He emphasized the importance of focusing on enhanced cash generation to maintain a strong balance sheet.

Dunn also highlighted the forthcoming merger with Aebi Schmidt as a major milestone, stating that this partnership presents an exciting opportunity to emerge as a premier global specialty vehicles leader. The integrated company will benefit from increased scale, a broader product range, and extensive industry expertise, all designed to elevate customer service and shareholder value.

Key Developments and Upcoming Events

To engage with stakeholders further, The Shyft Group plans to host a conference call at 8:30 AM ET today to discuss these financial results in detail. Investors and interested parties can access the call through their investor relations website or dial in using the provided numbers for both domestic and international listeners.

In conclusion, The Shyft Group's performance in Q1 2025 illustrates resilience and a commitment to growth, potentially leading to an exciting future as it integrates Aebi Schmidt into its operations. With a strong foundation in place, continued focus on innovation, and strategic planning, The Shyft Group is poised to navigate the evolving market landscape effectively.