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Shyft Group releases Q4, FY 2023 results, scales back EV plans after cutting 1,200 workers
On February 27, the Shyft Group, which changed its name from Spartan Motors in 2020, announced that revenue fell 13% in 2023 to USD 872.2 million, and adjusted EBITDA fell more than 40% to USD 40 million.
In Q4 alone, revenue fell more than 30% to USD 202.3 million, while adjusted EBITDA fell 92% to USD 2.3 million.
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In Q4 alone, revenue fell more than 30% to USD 202.3 million, while adjusted EBITDA fell 92% to USD 2.3 million.
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