The Shyft Group, parent company of Spartan RV Chassis, reported sales and profits increasing in the first quarter of 2023 from the first quarter of 2022.
Sales rose 17.7% from the first quarter of 2022 while profits totaled $1.7 million after a $3.9 million loss in the first quarter of 2022.
In the Specialty Vehicles division, which includes Spartan RV Chassis, sales fell 7.4% from the first quarter of 2022 due to softer motorhome chassis demand, the company said.
“Our team was able to generate increased revenues and improve profitability as we accomplished strategic milestones that will drive future growth,” said Daryl Adams, president and CEO.
Chief Financial Officer Jon Douyard said The Shyft Group was pleased with the core business performance in a “dynamic operating environment.”
“We remain cautious in the short term given mixed demand signals,” Douyard said. “Our teams remain agile and flexible to help drive cost efficiency and growth across the business, which positions us to reaffirm our 2023 outlook at this time.”
