Aebi Schmidt Holding AG (NASDAQ:AEBI) stock fell 15.4% after the specialty vehicle manufacturer reported a second-quarter net loss following its recent merger with The Shyft Group.
The company, which completed the merger on July 1, posted second-quarter sales of $277.7 million, up 4.2% from $266.5 million in the same period last year. Despite higher sales, Aebi Schmidt reported a net loss of $2.3 million, compared to net income of $8.2 million a year earlier.
The Shyft Group’s standalone results showed second-quarter sales of $176.0 million, down 8.7% from $192.8 million in 2024, with a net loss of $5.6 million versus net income of $2.2 million in the prior year.
For the first half of 2025, the combined entity recorded $907.5 million in sales, a slight decline of 0.9% from $916.0 million, and a net loss of $7.3 million compared to net income of $14.4 million in H1 2024.
Despite the losses, management confirmed the merger is expected to generate synergies of $25–30 million, with further cost savings identified. The company also declared its first quarterly dividend of $0.025 per share, payable September 29 to shareholders of record on August 29.
The newly combined company reported a $1.1 billion order backlog as of June 30 and combined net debt of $446 million, excluding $59 million in subordinated shareholder loans. Management plans to significantly reduce leverage by the end of 2026 to maintain flexibility for future acquisitions.
Aebi Schmidt Holding stock price
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