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The Shyft Group Q1 2025 Earnings Report
The Shyft Group reported its operating results for the first quarter ended March 31, 2025.
Key Takeaways
The Shyft Group reported a strong start to 2025 with increased sales and significant improvement in profitability. Sales increased by 3.4% year-over-year, and adjusted EBITDA saw a substantial rise of 6.2 million, demonstrating effective operational efficiency and commercial growth initiatives.
Sales increased 3.4% year-over-year to $204.6 million.
Adjusted EBITDA increased by $6.2 million to $12.3 million, representing 6.0% of sales.
Net loss improved to $1.4 million, or ($0.04) per share, compared to a $4.7 million loss, or ($0.14) per share, in the prior year.
Consolidated backlog decreased by 23.7% year-over-year but improved by 7.1% versus year-end.
The Shyft Group
The Shyft Group
The Shyft Group Revenue by Segment
Revenue by Segment
Fleet Vehicles & Services Revenue
CapyFin.comSpecialty Chassis & Vehicles Revenue
CapyFin.comAftermarket Parts & Accessories Revenue
CapyFin.comMotorhome Chassis Sales Revenue
CapyFin.comOther Specialty Vehicles Sales Revenue
CapyFin.com Forward Guidance
The Shyft Group maintained its full-year 2025 outlook, expecting continued strong performance and a robust balance sheet, with a pending merger with Aebi Schmidt anticipated to create a premier global specialty vehicles leader.
Positive Outlook
- Sales projected to be between $870 million and $970 million.
- Adjusted EBITDA projected to be between $62 million and $72 million.
- Adjusted earnings per share projected to be between $0.69 and $0.92.
- Free cash flow projected to be between $25 million and $30 million.
- Merger with Aebi Schmidt is on track to close by mid-2025, expected to create a premier global specialty vehicles leader with increased scale and broader offerings.
Challenges Ahead
- No specific negative forward guidance was provided in the report, but general risks associated with the operating environment and merger integration were acknowledged.
- The company noted that forecasting certain reconciling items for non-GAAP measures is difficult due to their unpredictable nature.
- Potential for non-satisfaction or non-waiver of closing conditions for the proposed transaction.
- Risk of prohibition or delay of the merger by a governmental entity.
- Uncertainty of the expected financial performance of the combined company following completion of the proposed transaction.
Revenue & Expenses
Visualization of income flow from segment revenue to net income