NASDAQ$SHYF
The Shyft Group Inc · Q1 2024 earnings
Q1 2024 earnings · · Investor relations
Briefing
The Shyft Group reported a decrease in sales and a net loss compared to the previous year, but saw sequential improvement in order backlog.
The Shyft Group reported a decrease in sales by 18.7% to $197.9 million and a net loss of $4.7 million, or ($0.14) per share, compared to net income of $1.7 million, or $0.05 per share in Q1 2023. Despite challenging end-markets, the company maintains its 2024 outlook with sales of $850 to $900 million and adjusted EBITDA of $40 to $50 million.
- First quarter sales decreased to $197.9 million, an 18.7% decrease year-over-year.
- Net loss was $4.7 million, or ($0.14) per share, compared to net income of $1.7 million, or $0.05 per share in the first quarter of 2023.
- Adjusted EBITDA decreased to $6.1 million, or 3.1% of sales, from $10.8 million, or 4.4% of sales in the prior year.
- Consolidated backlog was $439.4 million as of March 31, 2024, down 34.2% compared to $667.4 million as of March 31, 2023, but up 7.4% sequentially.
Headline financials
Revenue & EPS history
The Shyft Group · Revenue · Quarterly
$198M
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 maintains its 2024 outlook with sales of $850 to $900 million and adjusted EBITDA of $40 to $50 million.
Tailwinds
- Sales to be in the range of $850 million to $900 million.
- Adjusted EBITDA of $40 to $50 million, including EV spending of $20 to $25 million.
- Net income of $2.5 to $10.5 million, with an income tax rate of approximately 20%.
- Earnings per share of $0.07 to $0.30.
- Adjusted earnings per share of $0.28 to $0.51.
Headwinds
- Assumes no Blue Arc EV revenue.
- Capital expenditures of approximately $20 to $25 million.
- Free cash flow of $25 to $35 million.
- Parcel market remains soft.
- Cautious on near-term demand.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 6 quarterly earnings reports · overlaid with Q1 2024
+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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