Spartan Motors +14% as Specialty Vehicle Market Stays Strong

Destiny A. Lopez  |

Spartan Motors (SPAR), an automotive company that custom engineers and manufacturers specialized motor vehicle chassis and bodies, has seen a jump on the market today. Up 14.16%, the company has made a number of positive announcements that demonstrate its continued operational and financial growth.

Earlier this month, Spartan Motors revealed that it is scheduled to release its Q2 2016 financial results on Thursday, August 4, 2016. In May, the company’s Q1 2016 report revealed a number of improvements when compared to Q1 2015 data. Highlights from the company’s Q1 2016 report include:

  • Net sales increasing 4.1%, totaling $133.7 million.
  • Net income improving from a reported net loss of $2.9 million in Q1 2015, to $0.7 million.
  • Operating income improving from a reported loss of $4.4 million in Q1 2015, to $0.7 million.

"Results for the quarter showed considerable improvement year-over-year as we continued to implement our 2016 Focal Points,” said Daryl Adams, CEO of Spartan Motors. “The multi-year turnaround plan we began in 2015 is yielding positive operating results through new business, improved product mix and lower operating expenses. We are pleased to report a profitable first quarter, Spartan's first since 2010."

Furthermore, in June, the company was added to the Russell 2000® Index and the Russell 3000® by the FTSE Russell, a leading global index provider. "We are pleased to be added to the Russell 2000®, which reflects our continued positive turnaround momentum and efforts to increase shareholder value," said Adams. "We expect our inclusion to raise our profile and generate greater interest in our stock among institutional investors."

Since 1975, Spartan Motors has become a trusted name in the heavy duty vehicle sector.

Headquartered in Michigan,the company operates the following three segments:

  • Emergency Response Vehicles, which offers emergency response chassis and bodies.
  • Delivery and Service Vehicles, which offers walk-in vans for, among other uses, package delivery and bakery/snack delivery, along with commercial truck bodies and interior equipment up fitting.
  • Specialty Chassis and Vehicles, which offers motor home chassis and other specialty chassis.

Through these segments, according to the company’s official website, the company sells its products through a network of independent truck dealers to commercial vehicle dealers and leasing companies, as well as directly to end-users.

Will Spartan Motors continue their financial winning streak in Q2 2016? The investment community looks forward to the official report next month, along with the conference call scheduled for the same day at 10 a.m. EST.

To learn more about Spartan Motors, visit www.spartanmotors.com.

DISCLOSURE: The views and opinions expressed in this article are those of the authors, and do not represent the views of equities.com. Readers should not consider statements made by the author as formal recommendations and should consult their financial advisor before making any investment decisions. To read our full disclosure, please go to: http://www.equities.com/disclaimer.


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Symbol Name Price Change % Volume
SPAR Spartan Motors Inc. 18.50 0.00 0.00 77,826 Trade

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