Breaking News

NOVI, Mich. – The Shyft Group Inc. (NASDAQ: SHYF), the North American leader in specialty vehicle manufacturing, assembly and parent company of Spartan Chassis, today reported operating results for the fourth quarter and full-year ended December 31, 2024.

Operational highlights included:

• Delivered double-digit Fleet Vehicles and Services (FVS) margins bolstered by operational improvements
• Strong Specialty Vehicles (SV) margins
• Successfully shipped Blue Arc Class 4 EV trucks to FedEx
• Provides full-year 2025 sales outlook of $870 to $970 million, up 17% year-over-year at the midpoint
• Entered into transformative merger agreement with Aebi Schmidt; remains on track to close by mid-2025  

Fourth Quarter 2024 Financial Highlights                                                                          

For the fourth quarter of 2024 compared to the fourth quarter of 2023: 

• Sales of $201.4 million, a decrease of $0.9 million, or 0.4%, from $202.3 million
• Net loss of $3.4 million, or ($0.10) per share, compared to a loss of $4.4 million, or ($0.13) per share; 2024 results include $8.5 million of transaction expenses
• Adjusted EBITDA of $15.9 million, or 7.9% of sales, an increase of $13.6 million, from $2.3 million, or 1.1% of sales; results include $5.8 million of EV pre-production related costs versus $9.3 million in the prior year
• Adjusted net income of $5.0 million, or $0.15 per share, compared to a loss of $0.9 million, or ($0.03) per share
• Consolidated backlog¹ of $313.2 million as of December 31, 2024, down $96.0 million, or 23.5%, compared to $409.3 million as of December 31, 2023

Full-Year 2024 Financial Highlights
For the full-year 2024 compared to the full-year 2023:

• Sales of $786.2 million, a decrease of $86.0 million, or 9.9%, from $872.2 million
• Net loss of $2.8 million, or ($0.08) per share, compared to net income of $6.5 million, or $0.19 per share
• Adjusted EBITDA of $48.8 million, or 6.2% of sales, an increase of $8.8 million, from $40.0 million, or 4.6% of sales; results include $23.3 million of EV pre-production related costs versus $32.6 million in the prior year
• Adjusted net income of $15.0 million, or $0.44 per share, compared to adjusted net income of $18.7 million, or $0.54 per share

“Our disciplined execution of Shyft’s operational framework drove meaningful adjusted EBITDA growth and margin improvement,” said John Dunn, President and CEO. “I am pleased with the team’s relentless focus on operational excellence as SV sustained strong profitability, supported by steady infrastructure demand, while FVS achieved double-digit margins despite a challenging parcel market.”

2025 Financial Outlook
“Building on our solid results this quarter, we expect continued improvement in our profitability in 2025. Blue Arc EV transitioning into production, together with the anticipated recovery of the parcel market in the second half of the year, are expected to support these improvements,” said Scott Ocholik, Interim Chief Financial Officer.

Full-year 2025 outlook, notwithstanding further changes in the operating environment, is as follows:

• Sales of $870 to $970 million
• Adjusted EBITDA of $62 to $72 million
• Adjusted earnings per share of $0.69 to $0.92
• Free cash flow of $25 to $30 million

Dunn concluded, “As we move forward in 2025, our pending merger with Aebi Schmidt is accelerating our strategy, establishing the company as a global leader in specialty vehicles, with the scale and resources delivering growth, enhancing our customer-centric approach, and maximizing value for our shareholders. Our integration efforts are well underway, ensuring a seamless transition that leverages the strengths of both organizations. We are excited to unite our talented teams and build an even stronger platform for long-term success.”

Conference Call and Webcast Information
The Shyft Group will host a conference call at 8:30 a.m. ET today to discuss these results and current business trends. The conference call and webcast will be available via:

Webcast: https://theshyftgroup.com/investor-relations/webcasts/
Conference Call: 1-844-868-8845 (domestic) or 412-317-6591 (international)

The post Shyft Group Sees Slight Sales Decline in Q4, Off 9.9% in ’24 first appeared on RVBusiness - Breaking RV Industry News.

LINCOLNSHIRE, Ill. – Camping World Holdings, Inc. (NYSE: CWH), the World’s Largest Recreational Vehicle Dealer, today announced that it has closed on the asset and real estate purchase of Lazydays in Surprise, Ariz. The Company expects to close on additional locations in the coming weeks.

Marcus Lemonis, Chairman and CEO of Camping World, commented, “This is the first of multiple locations anticipated to close in the coming weeks. These locations bring top OEM brands, incremental market share opportunity, and a more traditional RV product mix that aligns with our strategic priorities. We expect to continue to capitalize on today’s robust dealership M&A environment.”

The post Camping World Closes on Purchase of Lazydays in Arizona first appeared on RVBusiness - Breaking RV Industry News.

“RVing in New England,” the weekly Facebook Live show hosted by Bob Zagami and John DiPietro of the New England RV Dealers Association (NERVDA), this week discusses the recently-released RV Owner Demographic Profile from the RV Industry Association’s Go RVing marketing arm.

Tonight’s show airs at 7 p.m. ET.

The post ‘RVing in New England’ to Discuss RVIA’s RV Owner Profile first appeared on RVBusiness - Breaking RV Industry News.

2025 is underway and now is the time to make sure your dealership is running at its peak, according to Kenect, the platform dealerships can use to text customers, gather reviews, collect payments, generate leads and manage online reputation.

“It’s no secret that capturing leads and increasing revenue are some of the most important topics among RV Dealers. But we don’t just want to solve this for the short term, we want this to be a permanent solution!” according to Kenect.

Now is your chance to get a free look at what Kenect has to offer your dealership to help you:

• Nurture leads and improve conversion rates
• Use WebChat right from your own website
• Apply Kenect’s Managed Services to help you save time and increase revenue
• Figuring out the first steps to adding A.I. for your dealership!

The webinar is 11 a.m. ET, Thursday, Feb. 20. Register here: www.kenect.com/RV

The post Thursday Webinar Set to Showcase Kenect’s CRM Solutions first appeared on RVBusiness - Breaking RV Industry News.

EDITOR’S NOTE: The following is an excerpt of a report by Gordon White for TruckCamperMagazine.com.

Fresh off their ground-breaking GMAX, Northstar launches the 10X, a 10-foot hard side, wet bath truck camper oozing with innovation nose to storage bumper. Heads up truck camper marketplace. Northstar is on a tear!

There’s an epidemic in our industry of resting on established brands, reputations, and proven floor plans. If the campers are selling—or at least selling in line with the accepted marketplace sentiment—some companies are satisfied to ride things out. No need to make real changes. No drive to take risks. Just keep every product and feature where it is and wait for the good times to return.

Rex Willett, President of Northstar Campers, read the above sentence and thought, “That’s how companies die.” How do I know this? Because he’s been forthright about this belief, and aggressively acting on upon it.

Click here to read the full report at TruckCamperMagazine.com.

The post Northstar 10X Camper Said to be ‘Oozing with Innovation’ first appeared on RVBusiness - Breaking RV Industry News.

Recently Storyteller Overland added a new nVader Brush Guard that’s compatible with their Sprinter models, which is engineered for toughness without the excessive bulk while on the road (or trail!)

Designed for 2019+ Sprinter models, it seamlessly integrates with driver’s OEM camera, fog lights, radar, and Distronic sensors, so you get maximum protection without compromise.

Have some peace of mind with the latest accessory so you can have protection on the front of your Storyteller vehicle from damage that can be caused by brushes, debris, and collisions. Drivers have the option to include a front-end hitch mount, adding even more versatility for your gear and accessories.

Specifications include:

• Durable, UV/rust resistant powder coat finish
• Easy installation, less than 2 hours of professional shop time
• Measuring 54″ wide and 14″ tall, it delivers serious front-end protection while adding a bold, off-road-ready look to your vehicle.
• Winch Capable (optional)

Currently retailed at $1,799.

The post Storyteller Overland Adds ‘nVader’ Brush Guard to Sprinters first appeared on RVBusiness - Breaking RV Industry News.

BOULDER, Colo. — Outdoor Industry Association (OIA) President Kent Ebersole released the following statement in response to recent staffing cuts at the U.S. Forest Service and the Department of the Interior, which “threaten the safety, maintenance and overall visitor experience on America’s public lands,” according to a release.

“The recent workforce reductions at the U.S. Forest Service and the Department of the Interior are deeply concerning, especially as these agencies are already operating with historically low staff-to-visitor ratios,” said Ebersole. “The stewards of our national parks, forests, and public lands—park rangers, maintenance crews, and visitor service staff—are the backbone of these treasured places. They keep trails open, respond to emergencies, educate the public, and ensure that millions of visitors not only experience the outdoors safely but also feel welcomed and inspired by the landscapes they explore.

With fewer staff, we risk longer emergency response times, neglected trails and facilities, and disruptions to the experiences that make these places so special. OIA stands with these dedicated professionals and urges policymakers to prioritize sustainable staffing solutions. Our public lands and the people who care for them deserve better,” he concluded.

About Outdoor Industry Association

Based in Boulder, Colo., with offices in Washington, D.C., Outdoor Industry Association (OIA) is a catalyst for meaningful change. A member-based collective, OIA is a passionate group of business leaders, climate experts, policy makers and outdoor enthusiasts committed to sustainable economic growth while protecting – and growing access to – the benefits of the outdoors for everyone. For more than 30 years, OIA has catalyzed a thriving outdoor industry by supporting the success of every member company across four critically aligned areas: market research, sustainability, government affairs, and inclusive participation. OIA delivers success for its members through education, events, and business services in the form of solutions and strategies, consultation, collaboration, and opportunities for collective action. For more information, visit outdoorindustry.org.

The post OIA: Workforce Cuts May Put Public Lands Access At Risk first appeared on RVBusiness - Breaking RV Industry News.

Rick Kessler and Chris Cieto of RVBusiness are joined by John Hawkins, the aftermarket sales manager for BAL RV Products, who provides an update on the latest goings on with the company.

The post SupplySide Showcase: Hawkins on BAL RV Products Updates first appeared on RVBusiness - Breaking RV Industry News.

BRISTOL, Ind. – Ember Recreational Vehicles has once again expanded its sales team to increase focus on enhanced dealer support for its growing dealer base. The company announces the addition of Jacob Kangas as the newest addition to the Ember Sales team.

Kangas will manage Ember’s newly formed Central territory. Kangas will be actively growing his territory and will be responsible for Ember dealer partners in the following states: Idaho, Montana, North Dakota, South Dakota, Nebraska, Kansas, Iowa, Missouri, Oklahoma, Minnesota, Wisconsin, Kentucky, Tennessee, Illinois, and Indiana.

Kangas brings over 15 years of RV sales experience. He began his RV industry career in retail RV sales before taking a wholesale representative position with Keystone RV in 2019. Kangas currently resides in Elkhart, IN, with his wife and 2 daughters.

“Jacob is a self-starter with an outgoing and spirited personality that has helped him build successful, effective relationships with his dealer partners over the years,” stated Brent Shuttleworth, National Sales Manager for Ember. “We are excited to gain his enthusiasm and skillset as another asset for the Ember team!”

About Ember Recreational Vehicles

Based in Bristol, Indiana, Ember Recreational Vehicles is a privately held, female-owned RV manufacturer dedicated to building high-quality, adventure-ready RVs with an emphasis on durability, comfort, and off-grid capability. Ember backs each product with its 1-2-3 Warranty: a one-time transfer, two-year limited base warranty, and a three-year limited structural warranty, providing customers peace of mind as they head out on their adventures. To learn more about Ember and its products, visit www.EmberRV.com.

The post Ember RV Adds Central Territory Rep. to Growing Sales Team first appeared on RVBusiness - Breaking RV Industry News.

WASHINGTON — The Trump administration has fired about 1,000 newly hired National Park Service employees who maintain and clean parks, educate visitors and perform other functions as part of its broad-based effort to downsize government, according to an Associated Press report.

The firings, which weren’t publicly announced but were confirmed by Democratic senators and House members, come amid what has been a chaotic rollout of an aggressive program to eliminate thousands of federal jobs. The plan is led by billionaire Elon Musk and the new Department of Government Efficiency, an outside-government organization designed to slash federal spending. Adding to the confusion, the park service now says it is reinstating about 5,000 seasonal jobs that were initially rescinded last month as part of a spending freeze ordered by President Donald Trump.

Seasonal workers are routinely added during the warm-weather months to serve more than 325 million visitors who descend on the nation’s 428 parks, historic sites and other attractions each year.

Park advocates say the permanent staff cuts will leave hundreds of national parks — including some of the most well-known and most heavily visited sites — understaffed and facing tough decisions about operating hours, public safety and resource protection.

Click here to read the full Associated Press report.

The post AP: Firing of 1,000 National Park Workers Raises Concerns first appeared on RVBusiness - Breaking RV Industry News.