OverviewSuggest Edit

The Shyft Group (formerly known as Spartan Motors) is a company that is engaged in specialty vehicle manufacturing and assembly for the commercial vehicle and recreational vehicle industries. It operates through two business segments: Fleet Vehicles and Services (FVS) and Specialty Vehicles (SV). Its products include walk-in vans and truck bodies used in e-commerce/parcel delivery, upfit equipment used in the mobile retail and utility trades, service and vocational truck bodies, luxury Class A diesel motorhome chassis, and contract manufacturing and assembly services. The company also supplies replacement parts and offers repair, maintenance, field service, and refurbishment services for the vehicles that it manufactures and assembles.
TypePublic
Founded1975
HQNovi, MI, US
Websitetheshyftgroup.com
Employee Ratings3.3
Overall CultureB-

Latest Updates

Employees (est.) (Dec 2020)3,000(+70%)
Job Openings18
Revenue (FY, 2021)$991.8 M(+47%)
Share Price (May 2022)$22.8(+4%)
Cybersecurity ratingCMore
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Key People/Management at The Shyft Group

Daryl Adams

Daryl Adams

President and Chief Executive Officer
Andy Anderson

Andy Anderson

Chief Information Officer
Todd Heavin

Todd Heavin

Chief Operating Officer
Jonathan Douyard

Jonathan Douyard

Chief Financial Officer
Joshua Sherbin

Joshua Sherbin

Chief Legal Officer and Chief Compliance Officer
Colin Hindman

Colin Hindman

Chief Human Resources Officer
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The Shyft Group Office Locations

The Shyft Group has offices in Novi and Charlotte
Novi, MI, US (HQ)
41280 Bridge St
Charlotte, MI, US
1000 Reynolds Rd
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The Shyft Group Financials and Metrics

The Shyft Group Revenue

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View revenue for all periods
The Shyft Group's revenue was reported to be $991.79 m in FY, 2021
USD

Revenue (Q1, 2022)

206.9m

Gross profit (Q1, 2022)

25.9m

Gross profit margin (Q1, 2022), %

12.5%

Net income (Q1, 2022)

(3.9m)

EBIT (Q1, 2022)

(5.5m)

Market capitalization (13-May-2022)

805.2m

Closing stock price (13-May-2022)

22.8

Cash (31-Mar-2022)

3.7m

EV

903.5m
The Shyft Group's current market capitalization is $805.2 m.
Annual
USDFY, 2018FY, 2019FY, 2020FY, 2021

Revenue

570.5m756.5m676.0m991.8m

Revenue growth, %

15%33%(11%)

Cost of goods sold

497.4m639.5m529.7m792.5m

Gross profit

73.1m117.0m146.3m199.3m
Quarterly
USDQ1, 2019Q2, 2019Q3, 2019Q1, 2020Q2, 2020Q3, 2020Q1, 2021Q2, 2021Q3, 2021Q1, 2022

Revenue

172.2m179.7m224.7m176.9m124.0m203.5m197.9m244.0m272.6m206.9m

Cost of goods sold

151.5m158.8m186.7m140.6m100.0m152.7m157.9m192.1m216.6m181.0m

Gross profit

20.7m20.9m38.0m36.3m24.0m50.8m40.0m51.9m56.1m25.9m

Gross profit Margin, %

12%12%17%21%19%25%20%21%21%13%
Annual
USDFY, 2019FY, 2020FY, 2021

Cash

19.3m21.0m37.2m

Accounts Receivable

58.9m64.7m87.3m

Inventories

59.5m46.4m67.2m

Current Assets

252.8m156.2m233.8m
Quarterly
USDQ1, 2020Q2, 2020Q3, 2020Q1, 2021Q2, 2021Q3, 2021Q1, 2022

Cash

40.9m23.9m43.1m10.0m4.2m14.5m3.7m

Accounts Receivable

70.8m68.4m99.5m83.6m101.9m67.6m80.8m

Inventories

59.3m53.6m43.1m58.5m68.4m81.9m91.3m

Current Assets

204.0m174.1m217.5m206.1m212.7m219.1m229.9m
Annual
USDFY, 2019FY, 2020FY, 2021

Net Income

(12.4m)33.2m70.2m

Depreciation and Amortization

11.2m14.2m11.4m

Inventories

(14.8m)12.8m(34.5m)

Accounts Payable

(20.4m)(10.7m)35.0m
Quarterly
USDQ1, 2020Q2, 2020Q3, 2020Q1, 2021Q2, 2021Q3, 2021Q1, 2022

Net Income

7.9m6.6m25.4m11.6m28.6m49.6m(3.9m)

Depreciation and Amortization

2.8m8.1m11.1m2.6m5.3m8.3m3.0m

Inventories

(3.7m)2.0m12.5m(12.1m)(22.0m)(35.5m)(24.1m)

Accounts Payable

472.0k(12.6m)(1.3m)27.5m27.7m43.2m7.6m
USDFY, 2018

Revenue/Employee

271.0k

P/E Ratio

16.8
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The Shyft Group Operating Metrics

The Shyft Group's Backlog was reported to be $963.6m in FY, 2021.
FY, 2019FY, 2020FY, 2021

Backlog

$336.61 m$478.65 m$963.56 m

Facilities

382217

Patents (US)

231417

Trademarks

10913284
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The Shyft Group Acquisitions / Subsidiaries

Company NameDateDeal Size
The Shyft Group DuraMag LLCOctober 01, 2020$17.3 m
Fortress Resources, LLCSeptember 09, 2019$89.22 m
Strobes-R-UsDecember 17, 2018
Smeal Fire ApparatusJanuary 03, 2017
Royal at McClellan Park LLC
The Shyft Group GTB, LLC
The Shyft Group Upfit Services, Inc.
The Shyft Group USA, Inc.
Utilimaster Services, LLC

The Shyft Group Revenue Breakdown

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The Shyft Group revenue breakdown by business segment: 66.5% from Fleet Vehicles and Services and 33.5% from Specialty Chassis and Vehicles

The Shyft Group revenue breakdown by geographic segment: 98.8% from United States and 1.2% from Other

The Shyft Group Cybersecurity Score

Cybersecurity ratingPremium dataset

C

79/100

SecurityScorecard logo

The Shyft Group Environment, Social & Governance (ESG) Ratings

CSRHub ESG ratingPremium dataset

30-39

out of 100

CSRHub logo

The Shyft Group Online and Social Media Presence

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The Shyft Group Company Culture

  • Overall Culture

    B-

    68/100

  • CEO Rating

    A+

    87/100

  • Compensation

    C

    63/100

  • Diversity

    C+

    68/100

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The Shyft Group News and Updates

The Shyft Group Heads West to ACT Expo 2022 With Blue Arc EV Solutions

Leader in chassis and body building helps meet last-mile delivery needs and ESG goals with new commercial-grade EV ecosystem Leader in chassis and body building helps meet last-mile delivery needs and ESG goals with new commercial-grade EV ecosystem

The Shyft Group Posts First Quarter 2022 Results

Reports Sales of $207 Million; EPS of ($0.11) and Adjusted EPS of ($0.06)

Spartan Motors Reports Strong Third Quarter 2019 Results

CHARLOTTE, Mich., Oct. 31, 2019 /PRNewswire/ -- Spartan Motors, Inc. (NASDAQ: SPAR) ("Spartan" or the "Company"), the North American leader in specialty vehicle manufacturing and assembly for the commercial and retail vehicle industries (including last mile delivery, specialty service and...

Spartan Motors Announces CFO Transition

CHARLOTTE, Mich., Sept. 23, 2019 /PRNewswire/ -- Spartan Motors, Inc. (NASDAQ: SPAR) ("Spartan" or the "Company"), the North American leader in specialty vehicle manufacturing and assembly for the commercial and retail vehicle industries (including last-mile delivery, specialty vehicles,...

Spartan Motors Acquires Royal Truck Body

CHARLOTTE, Mich., Sept. 10, 2019 /PRNewswire/ -- Spartan Motors, Inc. (NASDAQ: SPAR) ("Spartan" or the "Company"), the North American leader in specialty vehicle manufacturing and assembly for the commercial and retail vehicle industries (including last-mile delivery, specialty vehicles,...

Spartan Motors to Attend the Seaport Global Energy & Industrials Conference on August 28

CHARLOTTE, Mich., Aug. 26, 2019 /PRNewswire/ -- Spartan Motors, Inc. (NASDAQ: SPAR) ("Spartan" or the "Company"), the North American leader in specialty vehicle manufacturing and assembly for the commercial and retail vehicle industries (including last mile delivery, specialty service and...
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The Shyft Group Blogs

The Shyft Group to Debut Last-Mile Electric Delivery Vehicle at NTEA Work Truck Week

Leader in last-mile fleets to introduce road-ready, full vehicle solution deployable in 2023 Supporting EV transition with fully portable power cube tailored for customer needs Leveraging existing infrastructure for manufacturing and service enables speed to market and scale NOVI, Mich. , Feb. The p…

The Shyft Group Board Member Michael Dinkins Honored by Savoy Magazine

Dinkins, a board member since 2020, was named one of the most influential Black corporate directors for his exceptional, multi-industry financial expertise. NOVI, Mich. , Jan. 26, 2022 /PRNewswire/ -- The Shyft Group (NASDAQ: SHYF), the North American leader in specialty vehicle manufacturing, The p…

Spartan RV Chassis Parts & Accessories Launches One-Touch Automatic Leveling System at the 2022 Florida RV SuperShow

Leading-edge technology provides stress-free air leveling NOVI, Mich. , Jan. 14, 2022 /PRNewswire/ --  Spartan RV Chassis , a go-to-market brand of The Shyft Group (NASDAQ: SHYF), will exhibit at the 2022 Florida RV SuperShow and introduce for the first time its Red Diamond™ Leveling System, an The …

THE SHYFT GROUP’S UTILIMASTER UPFITS FORD PRO ALL-ELECTRIC E-TRANSIT CUSTOMER PILOT VEHICLES

The collaboration reaffirms Utilimaster as a leading body provider to the growing electric fleet vehicle market NOVI, Mich. , Dec. 22, 2021 /PRNewswire/ -- ­ Utilimaster , a go-to-market brand of The Shyft Group's Fleet Vehicles & Services business unit (NASDAQ: SHYF) (" Shyft " or the "Company"…

The Shyft Group’s Utilimaster Secures $53 Million Add-On Truck Body Contract From United States Postal Service

USPS places order for over 400 Utilimaster dry freight truck bodies to be used for heavy bulk mail delivery NOVI, Mich. , Oct. 26, 2021 /PRNewswire/ -- Utilimaster® has been awarded a $53 million contract from the United States Postal Service (USPS) for 447 Utilimaster truck bodies to be used for Th…

The Shyft Group Conference Call And Webcast Of Third Quarter 2021 Results Scheduled For November 4

NOVI, Mich. , Oct. 21, 2021 /PRNewswire/ --   The Shyft Group, Inc. (NASDAQ: SHYF) (" Shyft " or the "Company"), the North American leader in specialty vehicle manufacturing, assembly, and upfit for ecommerce-driven parcel delivery, as well as the broader commercial, retail, and service specialty Th…
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The Shyft Group Frequently Asked Questions

  • When was The Shyft Group founded?

    The Shyft Group was founded in 1975.

  • Who are The Shyft Group key executives?

    The Shyft Group's key executives are Daryl Adams, Andy Anderson and Todd Heavin.

  • How many employees does The Shyft Group have?

    The Shyft Group has 3,000 employees.

  • What is The Shyft Group revenue?

    Latest The Shyft Group annual revenue is $991.8 m.

  • What is The Shyft Group revenue per employee?

    Latest The Shyft Group revenue per employee is $330.6 k.

  • Who are The Shyft Group competitors?

    Competitors of The Shyft Group include Altra Industrial Motion, Flex-N-Gate and REV Group.

  • Where is The Shyft Group headquarters?

    The Shyft Group headquarters is located at 41280 Bridge St, Novi.

  • Where are The Shyft Group offices?

    The Shyft Group has offices in Novi and Charlotte.

  • How many offices does The Shyft Group have?

    The Shyft Group has 2 offices.