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

The Shyft Group (NASDAQ:SHYF) issued its quarterly earnings results on Thursday. The company reported $0.16 EPS for the quarter, beating the consensus estimate of $0.07 by $0.09, Briefing.com reports. The business had revenue of $192.80 million during the quarter, compared to the consensus estimate of $201.49 million. The Shyft Group had a negative net margin of 0.30% and a positive return on equity of 1.22%. The firm’s quarterly revenue was down 14.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.22 EPS. 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 Stock Up 1.5 %

SHYF stock traded up $0.20 during midday trading on Friday, reaching $13.79. The company had a trading volume of 478,105 shares, compared to its average volume of 506,352. The Shyft Group has a 1 year low of $9.81 and a 1 year high of $16.49. The company has a current ratio of 1.77, a quick ratio of 1.12 and a debt-to-equity ratio of 0.26. The company has a market capitalization of $473.96 million, a P/E ratio of -1,379.00 and a beta of 1.66. The company has a 50 day moving average of $12.02 and a two-hundred day moving average of $11.59.

The Shyft Group Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, June 17th. Shareholders of record on Friday, May 17th were given a $0.05 dividend. The ex-dividend date was Thursday, May 16th. This represents a $0.20 dividend on an annualized basis and a yield of 1.45%. 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.