The Shyft Group (NASDAQ:SHYF) Issues Earnings Results, Beats Expectations By $0.09 EPS

The Shyft Group (NASDAQ:SHYF) issued its earnings results on Thursday. The company reported $0.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.07 by $0.09, Briefing.com reports. The Shyft Group had a negative net margin of 0.30% and a positive return on equity of 1.22%. The company had revenue of $192.80 million for the quarter, compared to analysts’ expectations of $201.49 million. During the same period in the prior year, the business earned $0.22 EPS. The firm’s quarterly revenue was down 14.3% on a year-over-year basis. The Shyft Group updated its FY24 guidance to $0.35-0.50 EPS and its FY 2024 guidance to 0.350-0.500 EPS.

The Shyft Group Price Performance

NASDAQ:SHYF traded up $0.20 during trading hours on Friday, reaching $13.79. The company’s stock had a trading volume of 478,105 shares, compared to its average volume of 506,352. The stock has a 50 day moving average price of $12.02 and a two-hundred day moving average price of $11.59. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.12 and a current ratio of 1.77. The Shyft Group has a 12 month low of $9.81 and a 12 month high of $16.49.

The Shyft Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 17th. Investors of record on Friday, May 17th were issued a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 1.45%. The ex-dividend date was Thursday, May 16th. The Shyft Group’s payout ratio is -2,000.00%.

About The Shyft Group

The Shyft Group, Inc engages in the manufacture and assembly of specialty vehicles for the commercial and recreational vehicle industries in the United States and internationally. It operates in two segments, Fleet Vehicles and Services, and Specialty Vehicles. The Fleet Vehicles and Services segment offers commercial vehicles used in the e-commerce/last mile/parcel delivery, beverage and grocery delivery, laundry and linen, mobile retail, and trades and construction industries.