Hyster-Yale Materials Handling

Hyster-Yale Materials Handling, Inc. engages in the manufacture of lift trucks. The firm provides an array of solutions aimed at meeting the specific materials handling needs of its customers including attachments and hydrogen fuel cell power products, telematics, automation and fleet management services, and a variety of other power options for its lift trucks. It designs, engineers, manufactures, sells, and services a comprehensive line of lift trucks, attachments, and aftermarket parts marketed primarily under the Hyster and Yale brand names. The company was founded in 1999 and is headquartered in Cleveland, OH.

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Hyster-Yale reports solid Q4, eyes debt reduction and automation

HY's strong Q4 performance and strategic focus on profitability and debt reduction position the company for growth.
Challenges include managing cost inflation, recession impacts, and working capital trends for sustained performance.
Opportunities lie in technology investments, automation, and attachment sales growth, driving efficiency and competitive advantage.

Hyster-Yale Materials Handling reports strong Q1 performance and growth opportunities

HY's Q1 performance reflects strong revenue and profit growth, with a focus on higher-margin orders and strategic initiatives for long-term sustainability.
Challenges include production issues, market volume expectations, and addressing operational losses in certain segments.
Opportunities lie in fuel cell adoption, market visibility expansion, and exploring new applications for Nuvera's technology.

Hyster-Yale Materials Handling (HY) reports robust Q2 performance and strategic leadership transition

Hyster-Yale Materials Handling (HY) delivered a strong performance in Q2 2023, marked by revenue growth and operational improvements despite industry challenges. Strategic initiatives, succession planning, and a focus on higher-margin orders demonstrate a commitment to long-term growth and financial stability. The company's efforts to address challenges and capitalize on opportunities position it for continued success in the market.

Hyster-Yale reports robust Q3 results, eyes profitability and innovation

Hyster-Yale Materials Handling (HY) demonstrated strong financial performance in Q3 2023, with revenue growth, improved profitability, and positive outlook for future quarters.
Despite challenges in the Lift Truck market and inflationary cost pressures, the company's focus on efficiency, profitability, and cash flow improvement positions it well for sustained growth.
Opportunities for innovation, market expansion, and strategic investments present avenues for Hyster-Yale to further enhance its competitive position and drive long-term value creation.
Overall, Hyster-Yale's Q3 performance reflects resilience, adaptability, and strategic foresight, underpinned by a commitment to operational excellence and financial health.

Hyster-Yale Materials Handling reports strong Q4 performance and eyes market opportunities

Hyster-Yale Materials Handling (HY) delivered a strong performance in Q4 2023, with over $1 billion in revenues and notable margin improvement, despite challenges in product launches and component supply.
The company faces challenges from market slowdown, skilled labor shortages, and tariff impacts, but sees opportunities in market share gains, electrification solutions, and modular design for long-term growth.
With a substantial backlog, strong parts sales, and active programs in key markets, HY is positioned for stability and growth, although higher capital expenditures and market cancellations pose short-term challenges.
Overall, HY's strategic focus on market trends and operational efficiencies positions them well for navigating current challenges and capitalizing on future opportunities for growth and profitability.

Hyster-Yale Materials Handling reports record revenues and profit margins in Q1 2024

Hyster-Yale Materials Handling delivered a strong financial performance in Q1 2024 with record revenues and improved profit margins, driven by strategic initiatives and product innovations.
While facing challenges such as moderating global bookings and decreased backlog levels, the company remains optimistic about increasing shipments and addressing market demand throughout 2024.
With a focus on operational efficiency, innovation, and cost management, Hyster-Yale Materials Handling is well-positioned to capitalize on growth opportunities and navigate market challenges effectively.

Hyster-Yale reports resilient Q2 results amid market challenges and innovation

Hyster-Yale Materials Handling delivered strong Q2 results amidst a challenging global lift truck market, showcasing resilience and strategic adaptability.
Nuvera's innovative hydrogen-powered generator product holds promise for future growth in the hydrogen fuel cell industry despite initial adoption challenges.
The company's focus on financial efficiency and market expansion positions it well to navigate market uncertainties and drive sustainable growth in the future.

Hyster-Yale reports Q3 challenges but eyes growth opportunities ahead

Hyster-Yale Materials Handling (HY) navigated through challenges in Q3 2024, maintaining a strong foundation and focusing on operational efficiencies. Despite market uncertainties, the company is poised for growth through strategic initiatives and market share gains.

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Hyster-Yale, Inc. engages in the manufacture of lift trucks. It operates through the following segments: Americas, Europe, Middle East and Africa (EMEA), and Japan and Asia Pasific (JAPIC), Bolzoni, and Nuvera. The Americas include the United States, Canada, Mexico, Brazil, Latin America, and the corporate headquarters. The JAPIC segment involves the operations in the Asia and Pacific regions, China, and the equity earnings. The Bolzoni segment focuses on the distribution and production of attachments, forks, and lift tables marketed under the Bolzoni, Auramo, and Meyer brand names. The Nuvera segment consists of design, manufacture, and sale of hydrogen fuel cell stacks and engines. The company was founded in 1999 and is headquartered in Cleveland, OH.

Highlights:   Q2 2022 consolidated revenues increased 17.0% over Q2 2021 due to an 11.5% increase in shipments, primarily as a result of a 32.2% increase in EMEA lift truck shipments Q2 2022 consolidated and Lift Truck gross margins improved from the historically low Q4 2021 levels, but, as expected, decreased modestly compared with Q1 2022 gross margins due to additional commodity inflation resulting from the Russia/Ukraine conflict and adverse product mix Q2 2022 consolidated results were better than expected, but remained unprofitable with an operating loss of $15.7 million and a net loss of $19.4 million due to material and freight cost inflation, unfavorable manufacturing variances resulting from component shortages and the absence of $6.3 million of income recorded in 2021 associated with a favorable court ruling Manufacturing inefficiencies at the Lift Truck and Bolzoni segments associated with normal Q3 seasonal plant shutdowns combined with cuts in production volumes due to continued supply chain constraints, as well as unfavorable currency effects, are expected to lead to a significant consolidated Q3 2022 operating loss As the Lift Truck segment works through its low-margin backlog in the second half of 2022, margins are expected to improve again in the fourth quarter, which in turn is expected to lead to a substantially lower operating loss than in the first half of 2022, mainly driven by the expected strong operating profit in the fourth quarter of 2022 in the Americas segment. Results for the remainder of 2022 and in 2023 are expected to be below what was expected in the Q1 2022 earnings release due to lower than previously planned productions levels as a result of continued supply chain constraints Q2 2022 Bolzoni operating profit improved over Q1 2022 and Q2 2021, but 2022 second half improvement over 2021 is expected to be lower than the improvement in the first half of 2022 Nuvera operating results for the second half of 2022 are expected to improve due to the absence of impairment charges recognized in 2021 and expected lower production costs CLEVELAND , Aug. 2, 2022 /PRNewswire/ -- Hyster-Yale Materials Handling, Inc. (NYSE: HY) today announced consolidated revenues of $895.4 million, an operating loss of $15.7 million and a net loss of $19.4 million, or a loss of $1.15 per share, for the second quarter of 2022 compared with consolidated revenues of $765.6 million, operating profit of $5.9 million and net income of $1.9 million, or $0.11 per share, for the second quarter of 2021.

HYSTER-YALE MATERIALS HANDLING ANNOUNCES SECOND QUARTER 2022 RESULTS

CLEVELAND , July 26, 2022 /PRNewswire/ -- Hyster-Yale Materials Handling, Inc. (NYSE:HY) will release its 2022 Second Quarter financial results and will file its 2022 Second Quarter 10-Q after the close of the market on Tuesday, August 2, 2022. In conjunction with this release, the Company will host a conference call at 11:00 a.m.

HYSTER-YALE MATERIALS HANDLING, INC. ANNOUNCES DATES OF 2022 SECOND QUARTER EARNINGS RELEASE AND CONFERENCE CALL

GREENVILLE, N.C. , May 9, 2022 /PRNewswire/ -- Hyster-Yale Group announces a dealer territory change for its lift truck brands in the Southern United States.

Hyster-Yale Group Announces Dealer Territory Change in Tennessee Hyster Brand

Hyster-Yale Materials Handling, Inc. (NYSE:HY ) Q1 2022 Earnings Conference Call May 4, 2022 11:00 AM ET Company Participants Christina Kmetko - IR Alfred Rankin - Chairman and CEO Rajiv Prasad - President Kenneth Schilling - SVP and CFO Conference Call Participants Steve Ferazani - Sidoti & Company Chip Moore - EF Hutton Brett Kearney - Gabelli Funds Operator Good day, and thank you for standing by, and welcome to the Hyster-Yale Quarter 1 2022 Earnings Conference Call. At this time all participants are in a listen-only mode.

Hyster-Yale Materials Handling, Inc. (HY) CEO Alfred Rankin on Q1 2022 Results - Earnings Call Transcript

GREENVILLE, N.C., May 05, 2022 (GLOBE NEWSWIRE) -- Hyster announces a non-binding Memorandum of Understanding to provide Hamburger Hafen und Logistik AG (HHLA) with two Hyster® electric container handling vehicles, including the first-ever empty container handler powered by fuel cell technology in a real-world application. In addition, this will be the first Hyster terminal tractor supplied in Europe. Both units will be powered by Nuvera® fuel cells and run on hydrogen fuel produced locally at the HHLA Hamburg Green Hydrogen Hub.

Hyster to provide Hamburger Hafen und Logistik AG with hydrogen fuel cell-powered empty container handler and terminal tractor

Highlights:   Q1 2022 revenues increased 13.0% over Q1 2021 due to a 7.2% increase in consolidated shipments primarily as a result of an 18.7% increase in Americas lift truck shipments Comparable revenues, favorable sales mix and the reinstatement of tariff exclusions led to improved Q1 2022 gross margins compared with Q4 2021 Q1 2022 results were better than expected in the Q4 2021 earnings release, but remained unprofitable with a consolidated operating loss of $18.3 million and a consolidated net loss of $25.0 million due to the following: Material and freight cost inflation, unfavorable manufacturing variances resulting from component shortages, charges of $3.2 million to establish reserves on Russian inventory and receivables, increased operating expenses, and Valuation allowances taken in 2021 that result in zero tax benefits on jurisdictions with losses but income tax expense in jurisdictions with income Lift Truck market growth rates moderated from early 2021 levels yet remain strong Q1 2022 lift truck bookings continue to exceed shipments as production continued to be disrupted by component shortages due to supplier and logistics constraints despite a reduced number of individual supplier issues Although Q2 2022 Lift Truck segment consolidated operating and net losses are expected to be greater than Q1 2022 due to inflation in backlog costs and adverse product mix, in Q3 and Q4 2022, as the Lift Truck segment works through its low-margin backlog, margins are expected to improve in each successive quarter, which in turn is expected to lead to a significantly lower operating loss in the third quarter and strong operating profit in the fourth quarter of 2022, and in 2023. However, results for the remainder of 2022 are expected to be lower than expected in the Q4 2021 earnings release due to higher material inflation resulting from the Russia/Ukraine conflict For Q1 2022, Bolzoni reported a return to profitability and expects continued improvement in the remainder of 2022 Nuvera 2022 operating results expected to improve due to the absence of impairment charges recognized in 2021 and expected lower production costs CLEVELAND , May 3, 2022 /PRNewswire/ -- Hyster-Yale Materials Handling, Inc. (NYSE: HY) today announced consolidated revenues of $827.6 million, an operating loss of $18.3 million and a net loss of $25.0 million, or a loss of $1.48 per share, for the first quarter of 2022 compared with consolidated revenues of $732.2 million, operating profit of $3.1 million and net income of $5.6 million, or $0.33 per share, for the first quarter of 2021.

HYSTER-YALE MATERIALS HANDLING ANNOUNCES FIRST QUARTER 2022 RESULTS

CLEVELAND , April 26, 2022 /PRNewswire/ -- Hyster-Yale Materials Handling, Inc. (NYSE:HY) will release its 2022 First Quarter financial results and will file its 2022 First Quarter 10-Q after the close of the market on Tuesday, May 3, 2022. In conjunction with this release, the Company will host a conference call at 11:00 a.m.

HYSTER-YALE MATERIALS HANDLING, INC. ANNOUNCES DATES OF 2022 FIRST QUARTER EARNINGS RELEASE AND CONFERENCE CALL

GREENVILLE, N.C., March 30, 2022 (GLOBE NEWSWIRE) -- The Yale® narrow aisle reach truck, a lift truck designed for success in high-density warehousing applications, has been recognized with a 2021 GOOD DESIGN Award. The reach truck is also the winner of 2020 Product of the Year Awards from both Material Handling Product News and Plant Engineering, respectively.

Yale narrow aisle reach truck chalks up third award win for performance in high-intensity e-commerce warehousing

Hyster-Yale Materials Handling, Inc. (HY) CEO Alfred Rankin on Q4 2021 Results - Earnings Call Transcript

CLEVELAND, Feb. 28, 2022 /PRNewswire/ -- Highlights:    Q4 2021 bookings increased 16.5% over Q4 2020 levels even as global lift truck market growth continued to moderate Q4 2021 revenues increased 15.3% over Q4 2020 due to a 24.2% increase in shipments Despite improved shipments and record backlog levels, Q4 2021 production continued to be severely disrupted by component and logistics availability Q4 2021 consolidated operating loss of $107.0 million and consolidated net loss of $103.3 million due to the following: At the Lift Truck and Bolzoni businesses, material and freight cost inflation and manufacturing variances driven by component shortages and increased operating expenses resulting from the reinstatement of pre-pandemic compensation and benefits A non-cash goodwill impairment charge to operating profit of $55.6 million in the JAPIC segment, which includes $11.7 million for the non-controlling interest share of the impairment charge and resulted in a $43.9 million impact on net loss Income tax expense includes a $19.4 million charge for additional valuation allowances primarily on certain U.S. and UK deferred tax assets Over 2022, as the Lift Truck segment works through its low-margin backlog resulting from cost increases for those trucks, margins are expected to improve in each successive 2022 quarter, which in turn is expected to lead to modest operating profit in the third quarter and strong operating profit in the fourth quarter of 2022 and in 2023. Bolzoni expects a similar pattern but with an earlier effect in 2022 because of its shorter backlog.

HYSTER-YALE MATERIALS HANDLING ANNOUNCES FOURTH QUARTER AND FULL YEAR 2021 RESULTS

CLEVELAND, Feb. 17, 2022 /PRNewswire/ -- Hyster-Yale Materials Handling, Inc. (NYSE:HY) will release its 2021 Fourth Quarter financial and Full Year results and will file its 2021 Annual Report on Form 10-K after the close of the market on Monday, February 28, 2022. In conjunction with this release, the Company will host a conference call at 11:00 a.m.

Hyster-Yale Materials Handling Announces Dates of 2021 Fourth Quarter and Full Year Earnings Release and Conference Call

GREENVILLE, N.C., Feb. 10, 2022 (GLOBE NEWSWIRE) -- The Hyster® J155-190XNL, a high-capacity lift truck series powered by an integrated lithium-ion battery pack, is a winner of the prestigious 2021 GOOD DESIGN Award. The truck is the first sit-down counterbalanced lift truck in the 15,500-to-19,000-pound load capacity range powered by a factory integrated 350-volt lithium-ion battery, offering a zero-emission alternative with performance comparable to the internal combustion engines typically used in high-capacity applications.

Hyster wins award for high-capacity electric forklift

GREENVILLE, N.C., Feb. 08, 2022 (GLOBE NEWSWIRE) -- Yale Reliant™, a lift truck operator assistance system, was crowned a 2021 Product of the Year by readers of Material Handling Product News and MaterialHandling247.com. The innovative technology suite beat out three other competitors in the ergonomics and safety category.

Yale Reliant wins product of the year award

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GREENVILLE, N.C., Jan. 6, 2022 /PRNewswire/ -- Hyster-Yale Group, Inc. Americas announced today that it has appointed LiftOne, a CTE company, with headquarters in Charlotte, NC, as the new Hyster® and Yale ® dealer in Atlanta, Georgia, following LiftOne's acquisition of Briggs Equipment's operations in that territory on December 31, 2021.

HYSTER-YALE ANNOUNCES APPOINTMENT OF LIFTONE AS DEALER FOR THE ATLANTA MARKET

CLEVELAND, Nov. 18, 2021 /PRNewswire/ -- Hyster-Yale Materials Handling, Inc. (NYSE:HY) announced today that its management will participate in the Bank of America 2021 Leveraged Finance Virtual Conference on Tuesday, November 30, 2021.  The presentation is scheduled to start on Tuesday at 7:30 a.m.

Hyster-Yale Materials Handling, Inc. To Participate In Bank Of America 2021 Leveraged Finance Virtual Conference

Hyster-Yale Materials Handling, Inc. (HY) CEO Al Rankin on Q3 2021 Results - Earnings Call Transcript

CLEVELAND, Nov. 2, 2021 /PRNewswire/ -- Quarter Highlights:   Q3 2021 bookings increased 63.4% over Q3 2020 levels, but were down 20.9% from Q2 2021 record levels as the global lift truck market moderated Q3 2021 revenues increased 14.7% over Q3 2020 due to a 12.6% increase in shipments Despite improved shipments and record backlog levels, Q3 2021 production and shipments continue to be severely disrupted by component availability Q3 2021 consolidated operating loss of $54.3 million due to the following: At the Lift Truck and Bolzoni businesses, material and freight cost inflation and manufacturing variances driven by component shortages and higher operating expenses resulting from the elimination of cost containment actions put in place in 2020 At Nuvera, inventory and fixed asset adjustments totaling $24.8 million were recorded in Q3 2021 due to reduced near-term sales prospects. Q3 2021 consolidated net loss of $77.2 million includes a $38.4 million charge to establish a valuation allowance primarily on certain U.S. deferred tax assets, as well as the after-tax impact of the Nuvera adjustments Hyster-Yale Materials Handling, Inc. (NYSE: HY) today announced consolidated revenues of $748.2 million, an operating loss of $54.3 million and a net loss of $77.2 million, or a loss of $4.59 per share, for the third quarter of 2021 compared with consolidated revenues of $652.4 million, operating profit of $7.3 million and net income of $5.1 million, or $0.30 per share, for the third quarter of 2020.

Hyster-Yale Materials Handling Announces Third Quarter 2021 Results

CLEVELAND, Nov. 1, 2021 /PRNewswire/ -- Hyster-Yale Materials Handling, Inc. (NYSE:HY) announced today that its management will participate in Baird's 2021 Virtual Global Industrial Conference on Tuesday, November 9, 2021.  The presentation at the Baird conference is scheduled to start on Tuesday at 4:20 p.m.

Hyster-Yale Materials Handling, Inc. To Participate In Baird Virtual Global Industrial Conference

CLEVELAND, Oct. 26, 2021 /PRNewswire/ -- Hyster-Yale Materials Handling, Inc. (NYSE:HY) will release its 2021 Third Quarter financial results and will file its 2021 Third Quarter 10-Q after the close of the market on Tuesday, November 2, 2021. In conjunction with this release, the Company will host a conference call at 11:00 a.m.

Hyster-Yale Materials Handling, Inc. Announces Dates of 2021 Third Quarter Earnings Release and Conference Call

Hyster-Yale's current stock price reflects the narrowing of profit margins caused by supply chain problems.

Hyster-Yale: An Attractive Contrarian Investment With Major Supply Chain Problems

CLEVELAND, Sept. 8, 2021 /PRNewswire/ -- Hyster-Yale Materials Handling, Inc. (NYSE:HY) announced today that it will participate in the Sidoti 2021 Fall Virtual Small Cap Conference on Wednesday, September 22, 2021.

Hyster-Yale Materials Handling, Inc. to Participate in Sidoti 2021 Fall Virtual Small Cap Conference

Hyster-Yale Materials Handling, Inc. (HY) CEO Al Rankin on Q2 2021 Results - Earnings Call Transcript

CLEVELAND, Aug. 3, 2021 /PRNewswire/ -- Quarter Highlights:   Record Q2 2021 bookings of 46,900 units up 10.6% from Q1 2021 (prior record) bookings and significantly higher than pandemic-affected bookings of 14,300 units in Q2 2020 Q2 2021 consolidated shipments increased 12.9% and revenues increased 17.0% from abnormally low Q2 2020 unit shipment and revenue levels that resulted from prior-year, pandemic-related plant shutdowns, primarily in EMEA Despite record booking and backlog levels, Q2 2021 shipments severely affected by component availability Q2 2021 consolidated operating profit decreased to $5.9 million from $8.7 million in Q2 2020 as a result of material and freight cost inflation of $11.0 million, $5.0 million of manufacturing variances resulting largely from component shortages and higher operating expenses resulting from the elimination of cost containment actions taken in 2020, the impact of which is estimated to be approximately $14 million Q2 2021 net income of $1.9 million, or $0.11 per share, decreased from $3.6 million, or $0.21 per share, in Q2 2020 Hyster-Yale Materials Handling, Inc. (NYSE: HY) today announced consolidated revenues of $765.6 million and consolidated net income of $1.9 million, or $0.11 per diluted share, for the second quarter of 2021 compared with consolidated revenues of $654.4 million and consolidated net income of $3.6 million, or $0.21 per diluted share, for the second quarter of 2020. Consolidated operating profit decreased to $5.9 million in 2021 from $8.7 million in 2020.

Hyster-Yale Materials Handling Announces Second Quarter 2021 Results

CLEVELAND, July 27, 2021 /PRNewswire/ -- Hyster-Yale Materials Handling, Inc. (NYSE:HY) will release its 2021 Second Quarter financial results and will file its 2021 Second Quarter 10-Q after the close of the market on Tuesday, August 3, 2021. In conjunction with this release, the Company will host a conference call at 11:00 a.m.

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