The following is a summary of the The Shyft Group, Inc. (SHYF) Q1 2024 Earnings Call Transcript:

Financial Performance:

• The Shyft Group's Q1 2024 sales totaled $197.9 million, representing an 18.7% decrease from $243.4 million in Q1 2023.

• The company posted a net loss of $4.7 million, or $0.14 per share, compared to a net income of $1.7 million, or $0.05 per share in the same period of the previous year.

• Adjusted EBITDA stood at $6.1 million, or 3.1% of sales, a decrease compared to $10.8 million, or 4.4% of sales for the same period in 2023.

Business Progress:

• The Parcel Delivery team reported the highest order level in nearly two years, signalling strong commercial progress.

• The Shyft Group introduced a framework for driving operational excellence and increasing shareholder value, including building high-performance teams, delivering operational excellence, and keeping customers at the center of each activity.

• Focusing on the company's electric vehicle initiative, the development of the Blue Arc EV walk-in van is on track for a market release later in 2024.

• Looking ahead to 2024, the company expects sales in the range of $850 million to $900 million, with an expected adjusted EBITDA of $40 million to $50 million.

More details: Shyft Group IR

Tips: This article is generated by AI. The accuracy of the content can not be fully guaranteed. For more comprehensive details, please refer to the IR website. The article is only for investors' reference without any guidance or recommendation suggestions.