The Shyft Group’s new CEO said the company’s motorhome chassis building division has been under pressure in 2023. Still, he committed Spartan RV Chassis’ parent company to continuing investment in the division.
Shyft Group reported a 26.3% sales decrease in the third quarter of 2023 in its Specialty Vehicles division from the third quarter of 2022. Specialty Divisions’ earnings fell 20.9% in the third quarter from the third quarter of 2022.
John Dunn, whose promotion to Shyft Group president and CEO was announced the day the company released financial results, said the motorhome chassis business is structured appropriately for today’s market.
“I think when you look at the rest of the business, it continues to perform, while we continue to drive topline,” Dunn said. “We continue to increase capacity through pretty much the same footprint we have talked before about expansion in Nashville.”
Dunn said the capacity increase creates opportunity to gain market share and drive the business’ sales.
“The team is also doing a fantastic job managing the supply chain, managing the operations, to push to push margins,” he said. “We like that business. I think the service body infrastructure-related businesses that we have in that portfolio continue to perform really well. We like that space and we will continue to invest there.”
Company Chief Financial Officer John Douyard said the motorhome market continues to be dynamic. Douyard said Shyft Group is focused on driving operational and commercial actions through the rest of 2023.
