The Shyft Group, which makes RV chassis along with chassis, truck bodies and aftermarket parts for other types of commercial vehicles, reports sales of $286.1 million during the third quarter, an increase of $13.5 million, or 4.9%, from $272.6 million in the same period last year.
However, adjusted net income was $18.6 million compared with $22.9 million in Q3 last year.
The company also reported a consolidated backlog as of Sept. 30 of $1 billion, up $191.3 million, or 22.4%, compared to $852.6 million on Sept. 30, 2021, reflecting continued strong demand across all business units.
In the company’s Specialty Vehicles division, which includes RV chassis, it had $103.9 million in sales, an increase of $22.7 million, or 27.9%, from $81.2 million a year ago. This was due to continued strong performance in luxury motorhome chassis and service body sales as well as the impact of pricing actions, the company said.
Backlog in that segment at the end of September was $128.8 million, an increase of more than 25% from a year ago.
“I am incredibly proud of the Shyft Group team as we delivered positive operating results, with strong execution, in an environment that remains highly dynamic and challenging,” said Daryl Adams, the company’s president and CEO. “The Specialty Vehicles business produced record profitability while Fleet Vehicles and Services improved sequentially as chassis availability returned to more healthy levels. The excitement around our Blue Arc Solutions remains extremely high as demonstrated by our initial pre-order and positive customer feedback. We are pleased with our progress to date and believe we are on-track for mid-2023 production.”
