NASDAQ$SHYF
The Shyft Group Inc · Q2 2024 earnings
Q2 2024 earnings · · Investor relations
Briefing
The Shyft Group reported a decrease in sales and net income for Q2 2024, while adjusted EBITDA also declined. The company acquired Independent Truck Upfitters (ITU) and reaffirmed its full-year outlook.
The Shyft Group's Q2 2024 results showed a decrease in sales and profitability compared to the previous year. Sales decreased by 14.4% to $192.8 million, and net income fell to $2.2 million, or $0.06 per share. Adjusted EBITDA also decreased to $12.5 million. However, the company acquired Independent Truck Upfitters (ITU) to accelerate Specialty Vehicles growth and reaffirmed its full-year 2024 adjusted EBITDA outlook.
- Sales decreased by 14.4% to $192.8 million compared to Q2 2023.
- Net income decreased to $2.2 million, or $0.06 per share, compared to $4.7 million, or $0.13 per share in Q2 2023.
- Adjusted EBITDA decreased to $12.5 million, or 6.5% of sales, compared to $15.9 million, or 7.0% of sales in Q2 2023.
- The company acquired Independent Truck Upfitters (ITU) to expand its service body product offerings and upfit capabilities.
Headline financials
Revenue & EPS history
The Shyft Group · Revenue · Quarterly
$193M
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 provided full-year 2024 outlook, anticipating sales between $800 million and $850 million, and adjusted EBITDA between $45 million and $50 million.
Tailwinds
- Sales to be in the range of $800 million to $850 million
- Adjusted EBITDA of $45 to $50 million, including EV spending of $20 to $25 million
- Net income of $2.6 to $6.9 million, with an income tax rate of approximately 20%
- Earnings per share of $0.07 to $0.20
- Adjusted earnings per share of $0.35 to $0.50
Headwinds
- Assumes no Blue Arc EV revenue
- Ongoing market softness
- EV program related costs
- Decrease in sales
- Decrease in net income
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 Q2 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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