- Shyft Group (SHYF, Financial) Q1 2025 sales rose 3.4% to $204.6 million.
- Net loss reduced significantly to $1.4 million, or ($0.04) per share, from Q1 2024.
- Pending merger with Aebi Schmidt on track to close by mid-2025.
The Shyft Group, Inc. (SHYF) released its first quarter 2025 financial results, demonstrating a marked improvement in performance. Sales increased by 3.4% to $204.6 million compared to the prior year. The company successfully narrowed its net loss to $1.4 million, equivalent to ($0.04) per share, from a $4.7 million loss, or ($0.14) per share, in Q1 2024.
A notable highlight from the quarter is the substantial improvement in Adjusted EBITDA, which almost doubled to $12.3 million, representing 6.0% of sales, up from $6.1 million or 3.1% in the previous year. This improvement underscores enhanced operational efficiency within the company.
The consolidated backlog as of March 31, 2025, stood at $335.3 million, which reflects a decrease of 23.7% year-over-year. However, this is an increase of 7.1% from the end of 2024, suggesting stabilization in order patterns. The Blue Arc division contributed $26.3 million to the quarterly sales, accounting for approximately 13% of the total revenue.
Looking ahead, Shyft has affirmatively maintained its full-year 2025 guidance, expecting sales between $870-970 million, adjusted EBITDA of $62-72 million, and free cash flow of $25-30 million. The company's strong balance sheet is highlighted by a net leverage ratio below 2.0x, offering financial flexibility. The pending merger with Aebi Schmidt is proceeding as scheduled, with an anticipated close by mid-2025.
