secwatch.observer — SEC 8-K summary
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Issuer:     SHYFT GROUP, INC. (—)
CIK:        0000743238
Form:       8-K
Filed at:   2024-04-25T23:59:59+00:00
Accession:  0001437749-24-013118
Event type: earnings
Sentiment:  negative
Materiality: 0.70
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Shyft Group reports Q1 net loss of $4.7M; sales down 19% YoY; reaffirms FY2024 outlook
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- Sales $197.9M (-18.7% YoY); net loss $4.7M ($0.14/sh) vs net income $1.7M ($0.05/sh) a year ago.
- Adjusted EBITDA $6.1M (3.1% of sales) down from $10.8M (4.4%); includes $5.5M EV program costs.
- Consolidated backlog $439M (-34% YoY) but up 7.4% sequentially; FVS backlog down 39%, SV backlog flat.
- FY2024 guidance reaffirmed: sales $850-900M, adj. EBITDA $40-50M, EPS $0.07-$0.30; Blue Arc EV production target late 2024.
- SV segment sales up 3.4% to $90.1M; adjusted EBITDA $17.0M (18.8% margin), up from $13.9M.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/743238/000143774924013118/0001437749-24-013118-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/743238/000143774924013118/shyf20240424_8k.htm
  HTML page:      https://secwatch.observer/filing/0001437749-24-013118

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