Shyft Expects Significant Decline in Q1 2024 Earnings and Revenue

Shyft, a NASDAQ-listed company, is set to report a substantial decline in Q1 2024 earnings, with analysts projecting a 241.7% drop in EPS and a 24.2% decrease in revenue. Investors and analysts await the company's earnings call for insights on its strategy to navigate the current challenges.

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Shyft Expects Significant Decline in Q1 2024 Earnings and Revenue

Shyft Expects Significant Decline in Q1 2024 Earnings and Revenue

Shyft, a NASDAQ-listed company, is set to announce its Q1 2024 earnings on April 25th. Consensus estimates point to a substantial year-over-year decline in both earnings per share (EPS) and revenue for the quarter.

Analysts expect Shyft to report an EPS of -$0.17, representing a staggering 241.7% decrease compared to the same quarter last year. The company's revenue is also projected to take a hit, with consensus estimates indicating a 24.2% year-over-year drop to $184.28 million.

Over the past two years, Shyft has demonstrated a mixed track record in meeting market expectations. The company has beaten EPS estimates 88% of the time, while only surpassing revenue estimates 50% of the time.

In the months leading up to the earnings announcement, analysts have been adjusting their projections for Shyft's Q1 2024 performance. EPS estimates have seen no upward revisions and four downward revisions in the last three months. Similarly, revenue estimates have undergone one upward revision and three downward revisions during the same period.

Why this matters: Shyft's anticipated decline in earnings and revenue for Q1 2024 reflects the challenges faced by the company in the current economic environment. As a NASDAQ-listed entity, Shyft's performance has implications for investors and the broader market sentiment.

The significant year-over-year decrease in both EPS and revenue highlights the need for Shyft to adapt its strategies and navigate the evolving business landscape. Investors and market analysts will be closely monitoring the company's earnings call on April 25th for insights into its future outlook and plans to address the current challenges.

Key Takeaways

  • Shyft to report Q1 2024 earnings on April 25, with projected declines in EPS and revenue.
  • Consensus estimates point to a 241.7% decrease in EPS and 24.2% drop in revenue.
  • Shyft has a mixed track record in meeting market expectations, beating EPS 88% but revenue 50%.
  • Analysts have made multiple downward revisions to EPS and revenue estimates in the last 3 months.
  • Shyft's performance reflects challenges in the current economic environment, with implications for investors.