The Shyft Group

Delivery Drivers to Benefit from In-Vehicle Cooling Systems from Utilimaster®

Retrieved on: 
Wednesday, March 6, 2024
The Shyft Group, Safety, Utilimaster

This order, placed by a leading international e-commerce and parcel delivery company, underscores a shared commitment to enhancing driver comfort and safety throughout the United States.

Key Points: 
  • This order, placed by a leading international e-commerce and parcel delivery company, underscores a shared commitment to enhancing driver comfort and safety throughout the United States.
  • Designed for versatility, the Rapid Driver Cooling System can be integrated into both new and existing vehicles, ranging from walk-in vans to vocational delivery trucks.
  • It can serve as a supplementary solution or a complete replacement for traditional in-dash air conditioning, focusing on cooling the driver’s area and the cabin space effectively.
  • This hands-on demonstration highlights the system’s effectiveness and the immediate benefits it brings to drivers.

The Shyft Group Achieves Ford Pro Upfitter Designation

Retrieved on: 
Wednesday, March 6, 2024
The Shyft Group, Ford Motor Company, Utilimaster, Ford, Velocity, Car rental

“We are thrilled to be named a Ford Pro Upfitter, which is a natural outcome of our long collaboration with Ford,” said Shyft CEO John Dunn.

Key Points: 
  • “We are thrilled to be named a Ford Pro Upfitter, which is a natural outcome of our long collaboration with Ford,” said Shyft CEO John Dunn.
  • Shyft and Ford conducted the in-person audit at Shyft’s new facility in Lebanon, Tenn., which serves as a sales and upfitting branch for several Shyft brands.
  • The brands that will participate in the Ford Pro Upfitter program are Utilimaster®, Royal Truck Body™, DuraMag® and Magnum™.
  • The Shyft Group and Ford Motor Company have worked closely together for decades, achieving several significant milestones in recent years.

The Shyft Group Announces March 2024 Analyst & Investor Events

Retrieved on: 
Monday, March 4, 2024
The Shyft Group, Conference

NOVI, Mich., March 04, 2024 (GLOBE NEWSWIRE) -- The Shyft Group, Inc. (NASDAQ: SHYF) (the “Company”), the North American leader in specialty vehicle manufacturing, assembly, and upfit for the commercial, retail, and service specialty vehicle markets, announced that management will be hosting analysts and investors at upcoming sell-side conferences and an industry tradeshow in March.

Key Points: 
  • NOVI, Mich., March 04, 2024 (GLOBE NEWSWIRE) -- The Shyft Group, Inc. (NASDAQ: SHYF) (the “Company”), the North American leader in specialty vehicle manufacturing, assembly, and upfit for the commercial, retail, and service specialty vehicle markets, announced that management will be hosting analysts and investors at upcoming sell-side conferences and an industry tradeshow in March.
  • Upcoming engagement opportunities for analysts and investors include:
    Raymond James 45th Annual Institutional Investor Conference in Orlando, FL on March 4
    NTEA Work Truck Week 2024 in Indianapolis, IN on March 6-7
    36th Annual ROTH Conference in Dana Point, CA on March 18

The Shyft Group to Showcase Innovation and Customer-Centric Solutions at Work Truck Week 2024

Retrieved on: 
Thursday, February 29, 2024
Weather, The Shyft Group, Transport, Ride, Safety, Utilimaster, Magnum, Renewable energy

NOVI, Mich., Feb. 29, 2024 (GLOBE NEWSWIRE) -- Leveraging a broad spectrum of advanced work truck solutions, The Shyft Group, Inc. (NASDAQ: SHYF), will highlight its industry leadership and integrated brand strengths at Work Truck Week 2024 in Indianapolis, March 6-8. Showcasing the latest in innovations and customer-centric solutions, the company aims to meet the evolving needs of diverse business sectors with cutting-edge vehicle designs and functionalities.

Key Points: 
  • CEO John Dunn to present latest advancements in work truck innovations, accessories, and last-mile delivery solutions
    NOVI, Mich., Feb. 29, 2024 (GLOBE NEWSWIRE) -- Leveraging a broad spectrum of advanced work truck solutions, The Shyft Group, Inc. (NASDAQ: SHYF), will highlight its industry leadership and integrated brand strengths at Work Truck Week 2024 in Indianapolis, March 6-8.
  • This synergy ensures specialized, customer-focused solutions and leans into the collective expertise of our diverse brand portfolio,” said Shyft CEO John Dunn.
  • The Shyft Group will also participate in the Work Truck Week Ride & Drive, taking place from 11:00 a.m. to 3:30 p.m. on Wednesday and Thursday, March 6 and 7.
  • Shyft joins the Ride & Drive with its all-electric, Class 3 walk-in delivery van from Blue Arc EV Solutions.

The Shyft Group Reports Fourth Quarter and Full-Year 2023 Results

Retrieved on: 
Thursday, February 22, 2024
EV, The Shyft Group, Blue Arc, Adjustment, Segment, Income tax, Consolidated, Webcast, Environment, Video game

Generated free cash flow of $36 million in the year; improvement of $75 million year-over-year

Key Points: 
  • Generated free cash flow of $36 million in the year; improvement of $75 million year-over-year
    NOVI, Mich., Feb. 22, 2024 (GLOBE NEWSWIRE) -- The Shyft Group, Inc. (NASDAQ: SHYF) (“Shyft” or the “Company”), the North American leader in specialty vehicle manufacturing, assembly and upfit for the commercial, retail and service specialty vehicle markets, today reported operating results for the fourth quarter and full-year ending December 31, 2023.
  • “Our Specialty Vehicles business delivered strong overall profitability driven by robust demand for our vocational work trucks.
  • “Shyft has a strong core business, and the team is implementing the framework to return the company to historic profitability levels.
  • We are strengthening the leadership team, driving operational execution, and deepening our commercial capabilities to deliver long-term shareholder value.”
    The Shyft Group will host a conference call at 8:30 a.m.

Model 1 Enters a National Distribution Agreement with The Shyft Group; Expanding its Commercial Product Offerings and Upfit Capabilities

Retrieved on: 
Wednesday, March 6, 2024
Logistics, Supply Chain Management, Landscape, EV, Electric Vehicles, Public Transport, Other Construction & Property, Other Manufacturing, Alternative Vehicles, Fuels, Commercial Building & Real Estate, Semiconductor, Construction & Property, Engineering, Transport, Building Systems, Automotive Manufacturing, Manufacturing, Vehicle Technology, Other Automotive, Recreational Vehicles, Performance & Special Interest, Technology, Fleet Management, Aftermarket, HVAC, Automotive, General Automotive, Model 1, The Shyft Group, GM, Original equipment manufacturer, Heat, Commercial vehicle

For Model 1, the agreement adds an expansive commercial product offering, which supports vehicle upfitting and second-stage manufacturing, and gives The Shyft Group access points into new markets and a national distribution and upfit footprint.

Key Points: 
  • For Model 1, the agreement adds an expansive commercial product offering, which supports vehicle upfitting and second-stage manufacturing, and gives The Shyft Group access points into new markets and a national distribution and upfit footprint.
  • Model 1 will carry Shyft Group brands – DuraMag , Royal Truck Body and Magnum – and offer local upfit services nationwide.
  • Someone has to fix that, and Model 1, in collaboration with Shyft, is going first,” he said.
  • Model 1’s access to chassis pool inventory and vehicle body stock eliminates the traditional domino effect timing lag experienced by most in the commercial vehicle space.

The Shyft Group Announces Fourth Quarter and Year-End 2023 Financial Results Conference Call

Retrieved on: 
Friday, February 2, 2024
The Shyft Group, Webcast

NOVI, Mich., Feb. 02, 2024 (GLOBE NEWSWIRE) -- The Shyft Group, Inc. (NASDAQ: SHYF) (“Shyft” or the “Company”), the North American leader in specialty vehicle manufacturing, assembly, and upfit for ecommerce-driven parcel delivery, as well as the broader commercial, retail, and service specialty vehicle markets, will announce its fourth quarter and year-end 2023 financial results prior to the market opening on Thursday, February 22, 2024.

Key Points: 
  • NOVI, Mich., Feb. 02, 2024 (GLOBE NEWSWIRE) -- The Shyft Group, Inc. (NASDAQ: SHYF) (“Shyft” or the “Company”), the North American leader in specialty vehicle manufacturing, assembly, and upfit for ecommerce-driven parcel delivery, as well as the broader commercial, retail, and service specialty vehicle markets, will announce its fourth quarter and year-end 2023 financial results prior to the market opening on Thursday, February 22, 2024.
  • A conference call and webcast will begin at 8:30 A.M. Eastern Time.

The Shyft Group Announces Quarterly Dividend

Retrieved on: 
Thursday, February 1, 2024
The Shyft Group

NOVI, Mich., Feb. 01, 2024 (GLOBE NEWSWIRE) -- The Shyft Group, Inc. (NASDAQ: SHYF) (“Shyft” or the “Company”), the North American leader in specialty vehicle manufacturing, assembly, and upfit for the commercial, retail, and service specialty vehicle markets, today announced that its Board of Directors authorized a cash dividend of $0.05 per share of common stock.

Key Points: 
  • NOVI, Mich., Feb. 01, 2024 (GLOBE NEWSWIRE) -- The Shyft Group, Inc. (NASDAQ: SHYF) (“Shyft” or the “Company”), the North American leader in specialty vehicle manufacturing, assembly, and upfit for the commercial, retail, and service specialty vehicle markets, today announced that its Board of Directors authorized a cash dividend of $0.05 per share of common stock.
  • The Michigan-based manufacturer reported that its quarterly dividend will be payable on March 18, 2024 to shareholders of record as of the close of business on February 16, 2024.

Frost & Sullivan recognizes Modine with the 2023 North American New Product Innovation Award for the Electric Vehicle Thermal Management Systems Industry

Retrieved on: 
Monday, January 22, 2024
The Shyft Group, Research, Temperature, Heat, ECP, Frost, EV, Renewable energy

RACINE, Wis., Jan. 22, 2024 /PRNewswire/ -- After a thorough analysis of the electric vehicle (EV) thermal management systems industry, Modine (NYSE: MOD), a diversified global leader in thermal management technology and solutions, was awarded the 2023 North American New Product Innovation Award by Frost & Sullivan, a global business consulting firm. Frost & Sullivan concluded that Modine exceeds the pre-set criteria of the New Product Innovation Award and addresses key industry challenges in the EV thermal management systems industry. 

Key Points: 
  • Modine® applauded for improving commercial and specialty electric vehicle performance with the EVantage™ thermal management system product line.
  • RACINE, Wis., Jan. 22, 2024 /PRNewswire/ -- After a thorough analysis of the electric vehicle (EV) thermal management systems industry, Modine (NYSE: MOD), a diversified global leader in thermal management technology and solutions, was awarded the 2023 North American New Product Innovation Award by Frost & Sullivan , a global business consulting firm.
  • Frost & Sullivan concluded that Modine exceeds the pre-set criteria of the New Product Innovation Award and addresses key industry challenges in the EV thermal management systems industry.
  • Modine's EVantage™ thermal management systems seamlessly integrate into a wide range of vehicles, including school buses, delivery vans, heavy-duty trucks and off-highway machines.

The Shyft Group Announces Segment Leadership Update

Retrieved on: 
Tuesday, January 9, 2024
The Shyft Group, Growth, Michigan State University, Industrial, FVS, Management

In his new role, Farmer is responsible for FVS operations and implementing the business's strategic vision.

Key Points: 
  • In his new role, Farmer is responsible for FVS operations and implementing the business's strategic vision.
  • “Since joining Shyft in July 2023, Jacob’s strong operational and people leadership has positioned SV for sustained growth and success,” said Dunn.
  • Before joining Shyft, Farmer served as President and CEO of Trialon Corporation and Global Vice President and General Manager of the Industrial & Specialty Group at Cooper Standard.
  • He holds an Executive MBA from Michigan State University and a Bachelor of Science in Business from Indiana University.