The Shyft Group: Q1 Earnings Snapshot
NOVI, Mich. (AP) — NOVI, Mich. (AP) — The Shyft Group, Inc. (SHYF) on Thursday reported a loss of $1.4 million in its first quarter.
The Novi, Michigan-based company said it had a loss of 4 cents per share. Earnings, adjusted for stock option expense and non-recurring costs, came to 7 cents per share.
The maker of chassis for Last Mile Delivery, RVs and other vehicles posted revenue of $204.6 million in the period.
The Shyft Group expects full-year earnings in the range of 69 cents to 92 cents per share, with revenue in the range of $870 million to $970 million.
_____
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on SHYF at https://www.zacks.com/ap/SHYF
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Business Wire
2 hours ago
- Business Wire
BCI Invests in KKR Tower Platform Pinnacle Towers
SINGAPORE & VICTORIA, Canada--(BUSINESS WIRE)--KKR, a leading global investment firm, British Columbia Investment Management Corporation ('BCI'), and Pinnacle Towers, an Asia-based digital infrastructure platform with a focus on the Philippines, today announced the signing of definitive agreements under which BCI will acquire a minority stake in Pinnacle Towers from KKR, which will remain the majority shareholder. Pinnacle Towers was established in 2020 to serve the rapidly increasing demand for connectivity and quality telecommunications infrastructure in the Philippines. Led by a highly experienced management team, the platform specializes in executing on Build-to-Suit ('BTS') telecommunications tower projects, optimizing the use and management of Sale-and-Leaseback ('SLB') assets with leading mobile network operators, and providing ancillary management services to industry players. In the span of five years, Pinnacle Towers has scaled to become the largest independent tower company in the Philippines with around 7,000 towers. 1 Lincoln Webb, Executive Vice President & Global Head, Infrastructure & Renewable Resources, BCI, said, 'We are excited to work closely with KKR and Pinnacle's management team to support the growth of the business. The Philippines represents a compelling market for long-term capital, especially in essential digital infrastructure services. This investment aligns with our emerging markets strategy of backing high-quality infrastructure assets alongside strong institutional partners. We look forward to supporting Pinnacle Towers as it continues to enhance digital connectivity and drive meaningful impact across the Philippines.' Projesh Banerjea, Managing Director, Infrastructure, KKR, said, 'We are very proud of the success that we have achieved with Pinnacle Towers to serve the Philippines' connectivity needs. Since our initial investment, we have collaborated closely with Pinnacle Towers' outstanding management team to deepen the platform's capabilities and scale its presence organically and through bolt-on acquisitions. We are delighted to welcome BCI, who share our long-term vision and commitment to developing critical digital infrastructure, as strategic partners and look forward to building on Pinnacle Towers' strong growth momentum.' Patrick Tangney, Chairman and CEO of Pinnacle Towers, said, 'Over the last five years, with the support of KKR, Pinnacle Towers has grown to become the leading independent tower company in the Philippines. BCI's investment marks an important milestone in our journey and is a strong endorsement of our mission. With BCI and KKR as strategic partners, we are well-positioned to continue driving greater digital connectivity in the Philippines and across the region.' BCI Infrastructure & Renewable Resources has a global portfolio with nine active investments in the Asia-Pacific region, including Rakuten Mobile (a leading communications tower company in Japan), Altius (a leading communications tower company in India), and Cube Highways (the largest toll road operator in India). The program continues to expand its presence in the region with the addition of this minority stake acquisition in Pinnacle Towers. KKR made its investment in Pinnacle Towers from its Asia Infrastructure Funds I and II. KKR first established its global infrastructure team and strategy in 2008 and has since been one of the most active infrastructure investors around the world. KKR's Asia Pacific infrastructure platform was established in 2019 and has since organically grown to approximately US$13 billion in assets under management. The transaction is expected to be completed by Q3 2025, subject to customary regulatory approvals. About BCI British Columbia Investment Management Corporation (BCI) is amongst the largest institutional investors in Canada, with C$250.4 billion in gross assets under management as of March 31, 2024. Based in Victoria, British Columbia, with offices in Vancouver, New York, and London, U.K., BCI manages a portfolio of diversified public and private market investments on behalf of its British Columbia pension fund and institutional clients. Learn more at About KKR KKR is a leading global investment firm that offers alternative asset management as well as capital markets and insurance solutions. KKR aims to generate attractive investment returns by following a patient and disciplined investment approach, employing world-class people, and supporting growth in its portfolio companies and communities. KKR sponsors investment funds that invest in private equity, credit and real assets and has strategic partners that manage hedge funds. KKR's insurance subsidiaries offer retirement, life and reinsurance products under the management of Global Atlantic Financial Group. References to KKR's investments may include the activities of its sponsored funds and insurance subsidiaries. For additional information about KKR & Co. Inc. (NYSE: KKR), please visit KKR's website at For additional information about Global Atlantic Financial Group, please visit Global Atlantic Financial Group's website at Pinnacle invests in, builds and operates telecommunications infrastructure with a focus on towers and related assets. Pinnacle is an Asia-focused digital infrastructure platform with a strong focus on the rapidly growing Philippines market. Frontier's leadership team includes founders of a number of highly successful tower companies and former C-level executives from some of the world's leading wireless operators. KKR first invested in Pinnacle Towers in 2020.
San Francisco Chronicle
4 hours ago
- San Francisco Chronicle
New Zealand Rugby CEO Mark Robinson to step down at year's end
WELLINGTON, New Zealand (AP) — New Zealand Rugby chief executive Mark Robinson will step down at the end of the year, creating a vacancy in one of the most powerful jobs in New Zealand sport. Robinson led New Zealand's national sport for six years, through the difficult period of the pandemic when matches often took place in empty stadiums. He also has guided the sport's national governing body through difficult financial times. New Zealand Rugby has reported substantial deficits in each of the last three years. Along with many national rugby unions, New Zealand has faced increasing costs in retaining top players. The almost 20 million New Zealand dollar deficit ($10.2 million) posted by NZR in the last financial year came despite record revenues, reflecting the increasing difficulty national rugy administrators face in making ends meet. Robinson oversaw the deal in which investment company Silver Lake paid more than 200 million dollars ($120 million) for a share of NZR's commercial revenues. The deal at first was opposed by the professional players' union but later allowed NZR to financially support provincial rugby unions after the pandemic. Robinson also was party to the decision to appoint Scott Robertson as All Blacks head coach months before Ian Foster's tenure finished. Foster led the All Blacks to the final of the 2023 World Cup in which they lost by one point to South Africa. Robinson on Monday said he's leaving to join his wife and family who have relocated to Australia. "The past six years have been a period of rapid change or unprecedented challenges through the pandemic and significant evolution across commercial, competitions and structures,' Robinson said in a statement. 'I will reflect on that as I get closer to stepping away but I firmly believe the foundations of our organization are extremely strong and the game is well-placed for the future.' Robinson succeeded Steve Tew as chief executive in 2019. He will leave prior to a reorganization which will see the incoming chief executive take charge of both New Zealand Rugby and New Zealand Rugby Commercial, the sporting and commercial parts of the game. ___
Fox Sports
4 hours ago
- Fox Sports
New Zealand Rugby CEO Mark Robinson to step down at year's end
Associated Press WELLINGTON, New Zealand (AP) — New Zealand Rugby chief executive Mark Robinson will step down at the end of the year, creating a vacancy in one of the most powerful jobs in New Zealand sport. Robinson led New Zealand's national sport for six years, through the difficult period of the pandemic when matches often took place in empty stadiums. He also has guided the sport's national governing body through difficult financial times. New Zealand Rugby has reported substantial deficits in each of the last three years. Along with many national rugby unions, New Zealand has faced increasing costs in retaining top players. The almost 20 million New Zealand dollar deficit ($10.2 million) posted by NZR in the last financial year came despite record revenues, reflecting the increasing difficulty national rugy administrators face in making ends meet. Robinson oversaw the deal in which investment company Silver Lake paid more than 200 million dollars ($120 million) for a share of NZR's commercial revenues. The deal at first was opposed by the professional players' union but later allowed NZR to financially support provincial rugby unions after the pandemic. Robinson also was party to the decision to appoint Scott Robertson as All Blacks head coach months before Ian Foster's tenure finished. Foster led the All Blacks to the final of the 2023 World Cup in which they lost by one point to South Africa. Robinson on Monday said he's leaving to join his wife and family who have relocated to Australia. "The past six years have been a period of rapid change or unprecedented challenges through the pandemic and significant evolution across commercial, competitions and structures,' Robinson said in a statement. 'I will reflect on that as I get closer to stepping away but I firmly believe the foundations of our organization are extremely strong and the game is well-placed for the future.' Robinson succeeded Steve Tew as chief executive in 2019. He will leave prior to a reorganization which will see the incoming chief executive take charge of both New Zealand Rugby and New Zealand Rugby Commercial, the sporting and commercial parts of the game. ___ AP rugby:
