The Shyft Group, Inc. Reports Earnings Results for the Second Quarter and Six Months Ended June 30, 2023
July 27, 2023 at 08:01 am EDT
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The Shyft Group, Inc. reported earnings results for the second quarter and six months ended June 30, 2023. For the second quarter, the company reported sales was USD 225.1 million compared to USD 232.2 million a year ago. Net income was USD 4.69 million compared to USD 5.28 million a year ago. Basic earnings per share from continuing operations was USD 0.13 compared to USD 0.15 a year ago. Diluted earnings per share from continuing operations was USD 0.13 compared to USD 0.15 a year ago.
For the six months, sales was USD 468.54 million compared to USD 439.08 million a year ago. Net income was USD 6.4 million compared to USD 1.43 million a year ago. Basic earnings per share from continuing operations was USD 0.18 compared to USD 0.04 a year ago. Diluted earnings per share from continuing operations was USD 0.18 compared to USD 0.04 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.