The Shyft Group: Q2 Earnings Snapshot
NOVI, Mich. (AP) _ The Shyft Group, Inc. (SHYF) on Thursday reported second-quarter net income of $16 million, after reporting a loss in the same period a year earlier.
On a per-share basis, the Novi, Michigan-based company said it had net income of 44 cents. Earnings, adjusted for one-time gains and costs, came to 53 cents per share.
The results surpassed Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 52 cents per share.
The maker of chassis for Last Mile Delivery, RVs and other vehicles posted revenue of $244 million in the period.
The Shyft Group expects full-year earnings in the range of $1.75 to $1.95 per share, with revenue in the range of $900 million to $950 million.
The Shyft Group shares have increased 36% since the beginning of the year. The stock has climbed 98% in the last 12 months.