NASDAQ$SHYF
The Shyft Group Inc · Q1 2023 earnings
Q1 2023 earnings · · Investor relations
Briefing
Reported Q1 sales growth and significant year-over-year profitability improvement.
The Shyft Group reported Q1 2023 sales of $243.4 million, an 18% increase compared to the prior year. Net income was $1.7 million, or $0.05 per share, compared to a loss of $3.9 million, or loss of $0.11 per share in the prior year. The company reaffirmed its 2023 sales and profit outlook.
- Sales increased by 17.7% to $243.4 million compared to the first quarter of 2022.
- Net income improved to $1.7 million, or $0.05 per share, compared to a net loss of $3.9 million, or loss of $0.11 per share in the prior year.
- Adjusted EBITDA increased by $11.4 million to $10.8 million, or 4.4% of sales, from a loss of $0.6 million, or 0.3% of sales in the prior year.
- Consolidated backlog decreased by 47.6% to $667.4 million as of March 31, 2023, compared to $1.3 billion as of March 31, 2022.
Headline financials
Revenue & EPS history
The Shyft Group · Revenue · Quarterly
$243M
Revenue by segment
The Shyft Group · $187M total across 2 segments · Q4 2019
- Fleet Vehicles & Services$121M—64.8%
- Specialty Chassis & Vehicles$66M—35.2%
Forward guidance
The company reaffirmed its 2023 outlook, projecting sales between $1.0 billion and $1.2 billion, adjusted EBITDA between $70 million and $100 million, and earnings per share between $0.77 and $1.39.
Tailwinds
- Sales to be in the range of $1.0 billion to $1.2 billion
- Adjusted EBITDA of $70 to $100 million
- Net income of $28 to $50 million, with an income tax rate of approximately 25%
- Earnings per share of $0.77 to $1.39
- Adjusted earnings per share of $0.98 to $1.60
Headwinds
- Capital expenditures of approximately $35 million
- Mixed demand signals create caution in the short term.
- Exposure to changes in the operating environment.
- Potential changes in operating environment could impact outlook.
- No specific negative items mentioned besides expense and external factors.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 6 quarterly earnings reports
+1.8%
Avg return
Earnings day
+5.6%
Avg return
5 days after
+9.1%
Avg return
30 days after
61%
38 / 62 earnings
Positive
+28.0%
Q1 2020
Best reaction
-33.6%
Q3 2018
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q2 2025 | — | — | — | |
| Q1 2025 | +4.6% | +0.0% | +19.9% | |
| Q4 2025 | -1.0% | -14.6% | -28.4% | |
| Q3 2024 | +4.3% | +11.8% | +17.8% | |
| Q2 2024 | +18.5% | +42.2% | +21.8% | |
| Q1 2024 | +4.8% | +1.3% | +17.6% | |
| Q4 2023 | +2.8% | -7.2% | +5.8% | |
| Q3 2023 | -5.9% | — | — | |
| Q2 2023 | -28.5% | — | — | |
| Q1 2023 | +6.4% | — | — | |
| Q4 2022 | -15.4% | — | — | |
| Q3 2022 | +2.9% | — | — | |
| Q2 2022 | +12.8% | — | — | |
| Q1 2022 | -9.7% | — | — | |
| Q4 2021 | -3.4% | — | — | |
| Q3 2021 | +18.5% | — | — | |
| Q2 2021 | +3.9% | — | — | |
| Q1 2021 | +7.7% | — | — | |
| Q4 2020 | +18.7% | — | — | |
| Q3 2020 | +4.0% | — | — | |
| Q2 2020 | +1.3% | — | — | |
| Q1 2020 | +28.0% | — | — | |
| Q4 2019 | +2.8% | — | — | |
| Q3 2019 | +16.0% | — | — | |
| Q2 2019 | +8.3% | — | — | |
| Q1 2019 | +0.4% | — | — | |
| Q4 2018 | +4.9% | — | — | |
| Q3 2018 | -33.6% | — | — | |
| Q2 2018 | +7.3% | — | — | |
| Q1 2018 | -6.8% | — | — | |
| Q4 2017 | +13.2% | — | — | |
| Q3 2017 | -5.6% | — | — | |
| Q2 2017 | +4.0% | — | — | |
| Q1 2017 | +4.1% | — | — | |
| Q4 2016 | -15.1% | — | — | |
| Q3 2016 | +3.2% | — | — | |
| Q2 2016 | +4.1% | — | — | |
| Q1 2016 | +13.4% | — | — | |
| Q4 2015 | +21.0% | — | — | |
| Q3 2015 | -1.2% | — | — | |
| Q2 2015 | +6.1% | — | — | |
| Q1 2015 | -6.4% | — | — | |
| Q4 2014 | -1.1% | — | — | |
| Q3 2014 | +12.5% | — | — | |
| Q2 2014 | +3.0% | — | — | |
| Q1 2014 | -6.0% | — | — | |
| Q4 2013 | -3.7% | — | — | |
| Q3 2013 | -1.9% | — | — | |
| Q2 2013 | -1.8% | — | — | |
| Q1 2013 | +3.9% | — | — | |
| Q4 2012 | -4.3% | — | — | |
| Q3 2012 | -2.1% | — | — | |
| Q2 2012 | +6.6% | — | — | |
| Q1 2011 | -0.2% | — | — | |
| Q1 2012 | +1.1% | — | — | |
| Q4 2009 | -1.4% | — | — | |
| Q4 2011 | -1.4% | — | — | |
| Q3 2010 | -6.5% | — | — | |
| Q3 2011 | -6.5% | — | — | |
| Q2 2010 | +2.0% | — | — | |
| Q2 2011 | +2.0% | — | — | |
| Q4 2010 | +2.0% | — | — | |
| Q1 2010 | +2.0% | — | — |
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