SHYF - Shyft Non-GAAP EPS of $0.58 beats by $0.11 revenue of $302.01M misses by $3.54M

• Shyft press release ( NASDAQ: SHYF ): Q4 Non-GAAP EPS of $0.58 beats by $0.11 .
• Revenue of $302.01M (+8.9% Y/Y) misses by $3.54M .
• Consolidated backlog of $832.7 million as of December 31, 2022, down $130.9 million, or 13.6%, compared to $963.6 million as of December 31, 2021

• Guidance for full-year 2023, notwithstanding further changes in the operating environment, is as follows:

  • Sales to be in the range of $1.0 billion to $1.2 billion vs. $1.16B consensus
  • Adjusted EBITDA of $70 to $100 million
  • Net income of $28 to $50 million, with an income tax rate of approximately 25%
  • Earnings per share of $0.77 to $1.38
  • Adjusted earnings per share of $0.97 to $1.59 vs. $1.97 consensus
  • Capital expenditures of approximately $35 million
  • Free cash flow conversion ratio as a percent of net income greater than 100%

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