The Shyft Group Inc. (SHYF) Financial Statements (2025 and earlier)

Company Profile

Business Address 41280 BRIDGE STREET
NOVI, MI 48375
State of Incorp. MI
Fiscal Year End December 31
Industry (SIC) 3711 - Motor Vehicles and Passenger Car Bodies (benchmarking)
More info Complete Financial Analysis Financial Benchmarking

Balance Sheet (Statement of Financial Position) ($ in thousands)

9/30/2024
Q3
6/30/2024
Q2
3/31/2024
Q1
12/31/2023
Q4
9/30/2023
Q3
6/30/2023
Q2
3/31/2023
Q1
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments8,95813,2519,9579,8767,8087,378
Cash and cash equivalents8,95813,2519,9579,8767,8087,378
Receivables93,69878,82079,57391,53693,442120,141
Inventory, net of allowances, customer advances and progress billings94,59397,931105,135115,200101,303109,308
Inventory94,59397,931105,135115,200101,303109,308
Contract with customer, asset, after allowance for credit loss39,23752,80350,30548,46941,23060,094
Other current assets7,4896,7007,4625,3507,0784,908
Other undisclosed current assets19,55518,89034,49629,2859,31216,112
Total current assets:263,530268,395286,928299,716260,173317,941
Noncurrent Assets
Operating lease, right-of-use asset42,81045,07845,82747,66949,13254,931
Property, plant and equipment78,95280,90583,43779,43777,39373,939
Intangible assets, net (including goodwill)92,41093,27994,14895,10196,05397,006
Goodwill48,88048,88048,88048,88048,88048,880
Intangible assets, net (excluding goodwill)43,53044,39945,26846,22147,17348,126
Deferred income tax assets17,31017,30017,30011,00410,39010,390
Other noncurrent assets2,5562,7242,4092,5342,7052,805
Total noncurrent assets:234,038239,286243,121235,745235,673239,071
TOTAL ASSETS:497,568507,681530,049535,461495,846557,012
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities96,616106,046120,612121,743106,521130,028
Accounts payable73,97186,15999,85599,29985,733107,807
Accrued liabilities22,64519,88720,75722,44420,78822,221
Deferred revenue5,6233,9394,7566,2334,1987,719
Debt19,78019,05434,68129,4889,49116,295
Other liabilities9,55112,60511,9657,5978,54914,404
Other undisclosed current liabilities9,97810,05010,81710,88411,37811,576
Total current liabilities:141,548151,694182,831175,945140,137180,022
Noncurrent Liabilities
Long-term debt and lease obligation, including:65,19765,12150,14455,18145,18465,224
Other undisclosed long-term debt and lease obligation65,19765,12150,14455,18145,18465,224
Liabilities, other than long-term debt41,73344,04144,90848,59649,32754,808
Other liabilities7,1537,2658,18410,1059,8269,557
Operating lease, liability34,58036,77636,72438,49139,50145,251
Total noncurrent liabilities:106,930109,16295,052103,77794,511120,032
Total liabilities:248,478260,856277,883279,722234,648300,054
Equity
Equity, attributable to parent249,090246,825252,166255,670261,129256,889
Common stock96,65194,79093,70591,04690,60689,260
Retained earnings152,439152,035158,461164,624170,523167,629
Equity, attributable to noncontrolling interest    696969
Total equity:249,090246,825252,166255,739261,198256,958
TOTAL LIABILITIES AND EQUITY:497,568507,681530,049535,461495,846557,012

Income Statement (P&L) ($ in thousands)

9/30/2024
Q3
6/30/2024
Q2
3/31/2024
Q1
12/31/2023
Q4
9/30/2023
Q3
6/30/2023
Q2
3/31/2023
Q1
Revenues192,780197,889202,333201,325225,101243,439
Cost of revenue
(Cost of Goods and Services Sold)
(152,193)(163,827)(174,421)(164,557)(182,347)(200,515)
Gross profit:40,58734,06227,91236,76842,75442,924
Operating expenses(36,859)(35,992)(35,563)(32,644)(36,160)(39,238)
Operating income (loss):3,728(1,930)(7,651)4,1246,5943,686
Nonoperating expense(1,673)(1,956)(1,569)(1,557)(1,353)(1,578)
Other nonoperating income80972611512470
Interest and debt expense(1,753) (1,830)(1,572)(1,477)(1,648)
Income (loss) from continuing operations before equity method investments, income taxes:302(3,886)(11,050)9953,764460
Other undisclosed income from continuing operations before income taxes1,753 1,8301,5721,4771,648
Income (loss) from continuing operations before income taxes:2,055(3,886)(9,220)2,5675,2412,108
Income tax expense (benefit)109(783)4,8031,951(556)(430)
Net income (loss):2,164(4,669)(4,417)4,5184,6851,678
Net income attributable to noncontrolling interest      32
Net income (loss) available to common stockholders, diluted:2,164(4,669)(4,417)4,5184,6851,710

Comprehensive Income ($ in thousands)

9/30/2024
Q3
6/30/2024
Q2
3/31/2024
Q1
12/31/2023
Q4
9/30/2023
Q3
6/30/2023
Q2
3/31/2023
Q1
Net income (loss):2,164(4,669)(4,417)4,5184,6851,678
Comprehensive income (loss):2,164(4,669)(4,417)4,5184,6851,678
Comprehensive income, net of tax, attributable to noncontrolling interest      32
Comprehensive income (loss), net of tax, attributable to parent:2,164(4,669)(4,417)4,5184,6851,710

Statements Sources

The financial statements are based on the Company's filings with the U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.

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