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The Shyft Group Announces Quarterly Dividend and Q1 Financials

Manufacturing facility of The Shyft Group specializing in specialty vehicles.

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News Summary

The Shyft Group has declared a $0.05 quarterly cash dividend and reported first-quarter 2025 financial results showing a revenue of $204.6 million but a loss of $1.4 million. Despite this, the company is optimistic about 2025, projecting earnings between 69 to 92 cents per share and revenue between $870 million to $970 million. The Shyft Group is also merging with Aebi Schmidt Group, aiming to enhance operational quality and shareholder value.

Novi, Michigan – The Shyft Group, Inc. has declared a quarterly cash dividend of $0.05 per share of common stock, as approved by its Board of Directors on April 30, 2025. This dividend is set to be paid on June 16, 2025, to shareholders who are recorded on the company’s books by the close of business on May 16, 2025.

In addition to announcing this dividend, The Shyft Group released its financial results for the first quarter of 2025. The company reported a revenue of $204.6 million, though it faced a loss of $1.4 million, equating to a loss of 4 cents per share. After adjusting for stock option expenses and one-time costs, the adjusted earnings for the quarter were 7 cents per share. Despite the loss in the first quarter, The Shyft Group is optimistic about its future, estimating its earnings guidance for the entire year 2025 to be between 69 cents and 92 cents per share, with anticipated revenue ranging from $870 million to $970 million.

The Shyft Group operates within the specialty vehicle manufacturing sector, focusing on the assembly and upfitting of vehicles for various markets, including commercial, retail, and service sectors. Major customers include last-mile delivery companies, government entities, and utility sectors. The company is segmented into two primary business units: Shyft Fleet Vehicles and Services™ and Shyft Specialty Vehicles™. Shyft’s brand portfolio consists of prominent brands such as Utilimaster®, Blue Arc™ EV Solutions, and Royal® Truck Body, among others.

With approximately 2,900 employees and contractors across its various campuses, The Shyft Group has established a strong presence in states like Michigan, California, and Indiana, along with operations extending to Saltillo, Mexico. In 2024, the company reported sales reaching $786 million, highlighting its significance in the specialty vehicle market.

Furthermore, The Shyft Group is currently in the process of merging with Switzerland’s Aebi Schmidt Group. An S-4 registration statement concerning this proposed merger has already been filed with the SEC. Aebi Schmidt, known for its innovations in clean and safe infrastructure, recorded net sales surpassing 1 billion EUR in 2024 and is home to around 3,000 employees globally. The merger is projected to result in a larger entity with combined revenues estimated at $1.9 billion and an adjusted EBITDA of $148 million. The anticipated closing date for this merger is set for mid-2025, pending regulatory and shareholder approvals.

The combined entity is expected to operate under the name Aebi Schmidt Group and will trade its shares under the ticker symbol AEBI. This strategic merger aims to improve operational quality and enhance value for both customers and shareholders, reflecting The Shyft Group’s commitment to growth and innovation in the specialty vehicle industry.

As The Shyft Group navigates this transformative period, the announced cash dividend signifies the company’s dedication to returning value to its shareholders, even amid challenges in the evolving market landscape.