Shyft Group Reports Earnings Growth in Third Quarter
Novi, Michigan — The Shyft Group, Inc. has announced its financial results for the third quarter, showcasing a net income of $3.1 million. This translates to a net income of 9 cents per share. When adjusting for one-time gains and expenses, the earnings improved to 18 cents per share, marking a positive change for the company.
The manufacturer, known for producing chassis for Last Mile Delivery, RVs, and other vehicles, reported a total revenue of $194.1 million during this period, reflecting the steady demand in their market segments.
Looking ahead, Shyft Group projects that full-year earnings will fall between 35 cents to 50 cents per share, with an anticipated revenue of around $800 million. These projections suggest an optimistic outlook for the remaining months of the year as the company continues to navigate challenges within the industry.
As the company moves forward, stakeholders will be watching closely to see how these financial indicators influence their strategies and operations in the months to come.
