Shyft Group, Inc. ( (SHYF) ) has released its Q1 earnings. Here is a breakdown of the information Shyft Group, Inc. presented to its investors.
The Shyft Group, Inc., a leading North American manufacturer specializing in specialty vehicle manufacturing, assembly, and upfit for commercial, retail, and service markets, has reported its first quarter results for 2025, showcasing a steady improvement in financial performance.
The company reported a 3.4% increase in sales year-over-year, reaching $204.6 million, with a notable improvement in profitability. Despite a net loss of $1.4 million, this marks a significant reduction from the previous year’s loss of $4.7 million. The company also highlighted a strong balance sheet with a net leverage ratio of less than 2.0x and maintained its full-year 2025 outlook.
Key financial metrics included an adjusted EBITDA of $12.3 million, representing 6.0% of sales, which is a substantial increase from the previous year’s $6.1 million. The adjusted net income was reported at $2.4 million, or $0.07 per share, compared to a loss of $1.4 million in the prior year. The consolidated backlog stood at $335.3 million, reflecting a decrease from the previous year but an improvement from year-end figures.
Looking forward, The Shyft Group remains optimistic about its future prospects, particularly with the pending merger with Aebi Schmidt, expected to close by mid-2025. This merger is anticipated to create a premier global specialty vehicles leader, enhancing scale, product offerings, and industry expertise, thereby positioning the company to better serve its customers and deliver additional value to shareholders.