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Dec 31, 2020
The Shyft Group Q4 2020 Earnings Report
The Shyft Group reported a decrease in sales and income from continuing operations, but strategic alignment drove growth in backlog.
Key Takeaways
The Shyft Group reported a decrease in sales for the fourth quarter of 2020 compared to the fourth quarter of 2019. Income from continuing operations and adjusted EBITDA also decreased. However, the company saw a significant increase in consolidated backlog.
Sales decreased by 4.7% to $171.6 million.
Income from continuing operations decreased to $8.3 million, or $0.22 per share.
Adjusted EBITDA decreased by 32.0% to $16.0 million.
Consolidated backlog increased by 42.2% to $478.7 million.
The Shyft Group
The Shyft Group
Forward Guidance
The company provided guidance for full-year 2021, including revenue to be in the range of $850 to $900 million, net income of $51 to $58 million, adjusted EBITDA of $95 to $105 million, and earnings per share of $1.42 - $1.62.
Positive Outlook
- Revenue to be in the range of $850 to $900 million
- Net income of $51 to $58 million
- Adjusted EBITDA of $95 to $105 million
- Effective tax rate of approximately 26%
- Earnings per share of $1.42 - $1.62