The Shyft Group, Inc. (NASDAQ:SHYF) Q2 2023 Earnings Conference Call July 28, 2023 8:30 AM ET

Company Participants

Randy Wilson - Vice President, Investor Relations and Treasury

Daryl Adams - President & Chief Executive Officer

Jon Douyard - Chief Financial Officer

Conference Call Participants

Ray Guiso - BTIG

Mike Shlisky - D.A. Davidson

Matt Koranda - Roth MKM

Ryan Sigdahl - Craig-Hallum Capital Group

Operator

Good morning, Welcome to the Shyft Group's Second Quarter 2023 Conference Call and Webcast. All participants will be in a listen-only mode until the question-and-answer session of the conference call. As a reminder, this call is being recorded. I would now like to introduce Randy Wilson, Vice President, Investor Relations and Treasury of the Shift Group. Mr. Wilson, you may proceed.

Randy Wilson

Thank you for joining this morning call I'm joined by Daryl Adams, President and Chief Executive Officer; and Jon Douyard, Chief Financial Officer. Their prepared remarks will be followed by a question-and-answer session. For today's call, we've included a presentation deck that's been filed with the SEC and is also available on our website. Before we begin, please turn to Slide 2 of the presentation for our safe harbor statement. Today's conference call contains forward-looking statements, which are subject to risks that could cause actual results to be materially different from those expressed or implied. -- primary risk that management believes to materially affect our results are identified in our Forms 10-K and 10-Q filed with the SEC. We will be discussing non-GAAP information and performance measures, which we believe are useful in evaluating the company's operating performance. During today's call, we will provide a business update before moving on to a more detailed review of the results our updated 2023 outlook. We will then open the line for Q&A. Please turn to Slide 3, and I'll turn it over to Daryl Adams.

Daryl Adams

Thank you, Randy. Good morning, and thank you for joining us to review our second quarter 2023 results. Overall, results in the quarter were in line with our expectations, highlighted by strong performance in specialty vehicles and robust cash generation. We made great progress on the execution of our long-term strategic priorities, delivering on key blue arc collect vehicle milestones. And consistent with our prior communications, we remain on track for blue arc production in the second half of the year. While fleet vehicles and services grew modestly in the quarter, we experienced further weakness in end market conditions as well as operational efficiencies that impacted our overall performance.