Shyft Group’s Q2 Earnings Encouraging
In Novi, Michigan, a significant player in the vehicle manufacturing industry, The Shyft Group, Inc. (SHYF), released its second-quarter earnings report on Thursday. They’ve made a noteworthy profit of $2.2 million in this period.
The firm’s net income stood at 6 cents per share. However, when adjusted for one-time gains and costs, the earnings amounted to 16 cents per share. This quarter turned out to be promising for the brand, known for creating chassis for Last Mile Delivery, RVs, and other forms of vehicles, as it reported revenue of $192.8 million.
Looking Ahead into 2024
Given this positive performance, The Shyft Group has made promising predictions for the full year. The firm expects earnings to be in the range of 35 cents to 50 cents per share. Similarly, Shyft Group looks forward to achieving annual revenue in the range of $800 million to $850 million.
Please note that the details revealed in this report are the result of an insightful analysis conducted using data from Zacks Investment Research. To find a comprehensive stock report on SHYF, interested individuals can visit the Zacks website.
In Other News…
Apart from The Shyft Group, notable incidents include County Commission Chair Mark Bone making a bid for reelection. Some tense scenes unfolded in the Midland area as an alleged misdemeanor assault stemming from a disagreement over grass cutting led to an arrest.
In lighter news, music lovers were treated to a memorable experience with Jelly Roll performing for 15,000 fans in Midland. A pool play at state produced a perfect game from the Northeast team, and Tailgate N’ Tallboys hosted another day of dynamic performances, bringing smiles to the faces of the local music aficionados.
Author: STAFF HERE NORTHVILLE WRITER
The NORTHVILLE STAFF WRITER represents the experienced team at HERENorthville.com, your go-to source for actionable local news and information in Northville, Wayne County, and beyond. Specializing in "news you can use," we cover essential topics like product reviews for personal and business needs, local business directories, politics, real estate trends, neighborhood insights, and state news affecting the area—with deep expertise drawn from years of dedicated reporting and strong community input, including local press releases and business updates. We deliver top reporting on high-value events such as the Summer Concert Series, Tunes on Tuesday, and the Northville Farmers Market. Our coverage extends to key organizations like the Northville Chamber of Commerce and Northville Community Foundation, plus leading businesses in automotive, software, and retail that power the local economy such as Gentherm, Reliable Software, and Attendance on Demand. As part of the broader HERE network, including HEREDetroitMI.com, HEREGrandRapids.com, HERENovi.com, and HEREPlymouth.com, we provide comprehensive, credible insights into Michigan's dynamic landscape.
