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Shyft (SHYF) Signs Contract With Amerit to Expand EV Support
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The Shyft Group, Inc. (SHYF - Free Report) has signed an agreement with Amerit Fleet Solutions to provide continuous support and maintenance services for Blue Arc EV trucks throughout the United States.
Per John Dunn, president and CEO of The Shyft Group, as the company transitions to EV technology, it is dedicated to ensuring a seamless experience for its last-mile customers and drivers. In addition to its onsite dealer service and access to the Blue Arc EV Tech Support team, Shyft’s service model now includes Amerit’s continuous EV Fleet Maintenance program, which is aimed at minimizing downtime and keeping fleets on the road.
Blue Arc EVs will soon be available through select dealerships, with technicians trained by Shyft’s Blue Arc engineering team, thus ensuring convenient service. The company’s in-house tech support team of more than 30 certified technicians and engineers specializes in vehicle development, validation and testing to maintain high service standards.
Additionally, the specialty vehicle manufacturer’s integrated service and parts solution ensures high-quality parts are readily available, thereby simplifying maintenance and repairs. Together with Amerit Fleet Solutions’ mobile technicians, Shyft’s support network ensures continuous fleet operation and maximum vehicle uptime.
The Blue Arc platform features one of the industry’s first commercial-grade, purpose-built EV chassis, designed for demanding commercial vehicle duty cycles. Tier 1 suppliers like Akebono, Bosch, Dana, Hendrickson and Modine provide best-in-class solutions for this chassis.
Earlier this month, Shyft announced an order from FedEx for 150 Blue Arc EV Trucks. FedEx tested the trucks on last-mile delivery routes in Memphis, where they successfully operated on extended routes in challenging conditions, thereby demonstrating their readiness for commercial use.
In the first quarter, the company reported net sales of $197.9 million, which declined 18.7% year over year. Also, the company reported a net loss of $4.7 million against a net income of $1.7 million in the year-ago period. The specialty vehicle manufacturer remains cautious in the near term due to softer demand in the parcel market.
The Zacks Consensus Estimate for GELYY’s 2024 sales suggests year-over-year growth of 36.6%. The earnings per share (EPS) estimates for 2024 and 2025 have moved up 34 cents and 54 cents, respectively, in the past 60 days.
The consensus estimate for BLBD’s 2024 sales and earnings suggests year-over-year growth of 17.29% and 155.14%, respectively. The EPS estimates for 2024 and 2025 have improved 63 cents and 69 cents, respectively, in the past 30 days.
The Zacks Consensus Estimate for OSK’s 2024 sales and earnings suggests year-over-year growth of 9.86% and 10.72%, respectively. The EPS estimates for 2024 and 2025 have improved 72 cents and 67 cents, respectively, in the past 30 days.
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Shyft (SHYF) Signs Contract With Amerit to Expand EV Support
The Shyft Group, Inc. (SHYF - Free Report) has signed an agreement with Amerit Fleet Solutions to provide continuous support and maintenance services for Blue Arc EV trucks throughout the United States.
Per John Dunn, president and CEO of The Shyft Group, as the company transitions to EV technology, it is dedicated to ensuring a seamless experience for its last-mile customers and drivers. In addition to its onsite dealer service and access to the Blue Arc EV Tech Support team, Shyft’s service model now includes Amerit’s continuous EV Fleet Maintenance program, which is aimed at minimizing downtime and keeping fleets on the road.
Blue Arc EVs will soon be available through select dealerships, with technicians trained by Shyft’s Blue Arc engineering team, thus ensuring convenient service. The company’s in-house tech support team of more than 30 certified technicians and engineers specializes in vehicle development, validation and testing to maintain high service standards.
Additionally, the specialty vehicle manufacturer’s integrated service and parts solution ensures high-quality parts are readily available, thereby simplifying maintenance and repairs. Together with Amerit Fleet Solutions’ mobile technicians, Shyft’s support network ensures continuous fleet operation and maximum vehicle uptime.
The Blue Arc platform features one of the industry’s first commercial-grade, purpose-built EV chassis, designed for demanding commercial vehicle duty cycles. Tier 1 suppliers like Akebono, Bosch, Dana, Hendrickson and Modine provide best-in-class solutions for this chassis.
Earlier this month, Shyft announced an order from FedEx for 150 Blue Arc EV Trucks. FedEx tested the trucks on last-mile delivery routes in Memphis, where they successfully operated on extended routes in challenging conditions, thereby demonstrating their readiness for commercial use.
In the first quarter, the company reported net sales of $197.9 million, which declined 18.7% year over year. Also, the company reported a net loss of $4.7 million against a net income of $1.7 million in the year-ago period. The specialty vehicle manufacturer remains cautious in the near term due to softer demand in the parcel market.
Zacks Rank & Key Picks
SHYF currently carries a Zacks Rank #3 (Hold).
Some better-ranked players in the auto space are Geely Automobile Holdings Limited (GELYY - Free Report) , Blue Bird Corporation (BLBD - Free Report) and Oshkosh Corporation (OSK - Free Report) , each sporting a Zacks Rank #1 (Strong Buy) at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for GELYY’s 2024 sales suggests year-over-year growth of 36.6%. The earnings per share (EPS) estimates for 2024 and 2025 have moved up 34 cents and 54 cents, respectively, in the past 60 days.
The consensus estimate for BLBD’s 2024 sales and earnings suggests year-over-year growth of 17.29% and 155.14%, respectively. The EPS estimates for 2024 and 2025 have improved 63 cents and 69 cents, respectively, in the past 30 days.
The Zacks Consensus Estimate for OSK’s 2024 sales and earnings suggests year-over-year growth of 9.86% and 10.72%, respectively. The EPS estimates for 2024 and 2025 have improved 72 cents and 67 cents, respectively, in the past 30 days.