The Shyft Group Posts Strong Third Quarter Results
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The Shyft Group (SHYF) Tops Q3 EPS by 23c, Revenues Beat; Initiates FY20 EPS Guidance Above Consensus, FY20 Revenue Outlook Below Consensus
November 5, 2020 7:44 AM ESTThe Shyft Group (NASDAQ: SHYF) reported Q3 EPS of $0.62, $0.23 better than the analyst estimate of $0.39. Revenue for the quarter came in at $203.5 million versus the consensus estimate of $193.3 million.
Third Quarter 2020 Highlights from Continuing Operations
For the third quarter of 2020 compared to the third quarter of 2019:
Sales of $203.5 million, a decrease of $21.2 million, or 9.4%, from $224.7 million. Sales increased $1.8 million, or 0.9%, excluding the USPS order.Gross profit margin of 24.9% of sales, an 800 basis point improvement from 16.9% of sales, driven by product mix, improved material costs and actions taken to improve overall operating... More