Vehicle manufacturer Shyft (NASDAQ:SHYF) will be announcing earnings results tomorrow before market hours. Here’s what investors should know.
Shyft missed analysts’ revenue expectations by 4.3% last quarter, reporting revenues of $192.8 million, down 14.4% year on year. It was a strong quarter for the company, with an impressive beat of analysts’ earnings and EBITDA estimates.
Is Shyft a buy or sell going into earnings? Read our full analysis here, it’s free.
This quarter, analysts are expecting Shyft’s revenue to grow 3.2% year on year to $207.8 million, a reversal from the 29.6% decrease it recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.17 per share.
The majority of analysts covering the company have reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Shyft has missed Wall Street’s revenue estimates five times over the last two years.
Looking at Shyft’s peers in the heavy machinery segment, only PACCAR has reported results so far. It beat analysts’ revenue estimates by 1.4%, posting year-on-year sales declines of 6.4%.
Read our full analysis of PACCAR’s earnings results here.Investors in the heavy machinery segment have had steady hands going into earnings, with share prices flat over the last month. Shyft is down 7.9% during the same time and is heading into earnings with an average analyst price target of $16 (compared to the current share price of $11.96).
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