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Spartan Posts Triple-Digit Income Gains in Q1

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Novi, Mich.-based Spartan Motors reported sales of $177 million during the first quarter, a nearly 3 percent increase over the same period a year ago. Adjusted net income increased $6.1 million, or 115 percent, during the quarter.

One of the highlights of the recent quarter was, as had been previously announced, the company divested its emergency response (ER) business, effective Feb. 1.

“Despite the severity of the market conditions we are currently experiencing, we are pleased with the strong start to the year, as many of the transformative initiatives we pursued last year are gaining traction,” said Daryl Adams, president and CEO. “With the divestiture of ER, we benefited from operating in a more focused core market within an expanded geographic footprint, as a result of our recent acquisitions in the delivery and specialty vehicle markets.  Though we continued to manufacture in this challenging environment, our operations were impacted by the pandemic. Near the end of the first quarter, we took a series of aggressive actions to mitigate the COVID impact, including actions to safeguard our employees and adjust production on a plant-by-plant basis to keep up with customer demand.”

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