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Edge12 Dec 2025
Running on Clouds: The Story of On
The story of how a Swiss runner's pursuit of a new running sensation became On, aiming to be the most premium global sportswear brand worldwide.
The Shyft Group (SHYF) investor relations material
The Shyft Group has been delisted
The Shyft Group Q1 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q1 2025 earnings summary24 Apr, 2025
Executive summary
Q1 2025 sales increased 3.4% year-over-year to $204.6 million, with adjusted EBITDA doubling to $12.3 million (6% margin) and net loss narrowing to $1.4 million.
Blue Arc EV business contributed $26.3 million in sales and advanced production, while specialty vehicles and service truck businesses maintained high margins and robust order intake.
Consolidated backlog was $335.3 million, down 23.7% year-over-year but up 7% from year-end, with SV backlog rising 8% year-over-year.
Merger integration with Aebi Schmidt is progressing, with closure expected by mid-2025 and a $600 million credit facility syndicated.
Celebrated 50th anniversary with new product launches and record customer engagement at NTEA Work Truck Show.
Financial highlights
Q1 2025 sales were $204.6 million, up 3% year-over-year; gross margin improved to 19.7% from 17.2%.
Adjusted EBITDA doubled to $12.3 million (6% of sales) from $6.1 million (3.1% of sales) year-over-year.
Adjusted net income was $2.4 million, or $0.07 per share, versus a loss of $0.04 per share last year.
Net loss improved to $1.4 million (negative $0.04/share) from $4.7 million (negative $0.14/share) year-over-year.
Free cash flow for Q1 2025 was ($9.5) million, similar to ($9.6) million last year.
Outlook and guidance
Affirmed 2025 outlook: sales of $870–$970 million, adjusted EBITDA of $62–$72 million, and adjusted EPS of $0.69–$0.92.
Free cash flow guidance maintained at $25–$30 million for the year.
Expect about 70% of full-year adjusted EBITDA in the second half of 2025, with growth led by infrastructure-related products and Blue Arc production ramp.
Cautious on timing of parcel and motorhome market recovery; improvement expected as year progresses.
Management expects to leverage product innovations and recent acquisitions for long-term growth.
Explain the drivers of margin improvement.
What is the expected impact of Aebi Schmidt?
Why does backlog exclude Blue Arc orders?
How will tariffs impact combined Shyft/Aebi?
Detail parcel quoting activity, timing included?
Update on Blue Arc order pipeline beyond FedEx?
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Frequently asked questions
The Shyft Group is the North American leader in specialty vehicle manufacturing, assembly, and upfit for the commercial, retail, and service vehicle markets. Our customers include first-to-last mile delivery companies across vocations, federal, state, and local government entities; the trades; and utility and infrastructure segments. The Shyft Group is organized into two core business units: Shyft Fleet Vehicles and Services™ and Shyft Specialty Vehicles™. Today, its family of brands include Utilimaster®, Blue Arc™ EV Solutions, Royal® Truck Body, DuraMag® and Magnum®, Strobes-R-Us, Spartan® RV Chassis, Red Diamond™ Aftermarket Solutions, and Builtmore Contract Manufacturing™. The Shyft Group and its go-to-market brands are well known in their respective industries for quality, durability, and first-to-market innovation. The Company employs approximately 3,000 employees and contractors across campuses, and operates facilities in Arizona, California, Florida, Indiana, Maine, Michigan, Missouri, Pennsylvania, Tennessee, Texas, and Saltillo, Mexico. The Company reported sales of $872 million in 2023. Learn more at TheShyftGroup.com
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