Shyft Group sees 2024 adjusted EPS 28c-51c, consensus 50c

“Looking ahead, the challenging demand environment for parcel and motorhome is expected to continue in the first half of 2024,” said Jon Douyard, Chief Financial Officer. “Our team remains focused on delivering improved financial performance and generating cash flow, while maintaining investment for future growth initiatives, including our Blue Arc EV program.” Guidance for full-year 2024, notwithstanding further changes in the operating environment, is as follows: Sales to be in the range of $850 million to $900 million; Assumes no Blue Arc EV revenue, revenue consensus $890.42M. Adjusted EBITDA of $40 to $50 million, including EV spending of $20 to $25 million. Net income of $2.5 to $10.5 million, with an income tax rate of approximately 20%. Earnings per share of $0.07 to $0.30. Adjusted earnings per share of $0.28 to $0.51. Capital expenditures of approximately $20 to 25 million. Free cash flow of $25 to $35 million.