Spartan Motors Inc., parent to Spartan Chassis Inc., announced the company’s long-term growth objectives to drive profitable and sustainable growth.
According to a press release, Spartan will present the program to Wall Street analysts today (Oct. 12), that will include Spartan Motors President and CEO Daryl Adams, Rick Sohm, chief financial officer and divisional presidents.
“Through improved operational discipline and performance, increased accountability and an acute focus on strengthening our team, we are accelerating growth,” said Adams. “Spartan Motors’ financial momentum is increasing because of these changing dynamics, and we are excited to share our progress and the goals we have set for our future.”
Fueled by a strong balance sheet, industry-leading innovation and a proven management team, Spartan’s path forward will be focused on becoming a purpose driven organization, the release stated. The company looks to accelerate growth through a customer-centric focus, disruptive innovation, solutions-based products, streamlined operations, and a disciplined approach to identifying strategic opportunities.
- Become the No. 1 or No. 2 player in each market it serves.
- $1 billion in sales by 2020, versus sales of $506.8 million in 2014, representing an approximate 12-percent compound annual growth rate.
- 10% adjusted EBITDA margin, with earnings outpacing top-line growth
“We saw the potential to nearly double revenues and have set an aspirational, yet achievable goal with our long-term growth strategy,” continued Adams. “We’ve never provided this level of detail as a company, and these objectives represent the visibility we now have as an organization after establishing a solid foundation for continued growth. This path forward demonstrates our commitment to simplify and strengthen the Company to thrive through any market cycle.”