Hyster-Yale Earnings Call Transcripts
Fiscal Year 2025
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Bookings rebounded sharply in Q4 and early 2026, led by North America, despite ongoing tariff and margin pressures. Cost-saving initiatives and new product launches position the company for improved performance and normalized margins in the second half of 2026.
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Q3 2025 saw lower revenues and profits due to declining volumes and $40 million in tariff costs, despite higher bookings and strong product innovation. Backlog and production rates fell, with Q4 expected to remain challenging amid persistent tariff and demand headwinds.
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Q2 2025 saw a sharp revenue and profit decline due to lower volumes and tariff impacts, with bookings and backlog down significantly. Management expects modest sequential improvements in H2 2025 but full-year results will lag 2024, as tariff and demand headwinds persist.
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Q1 2025 saw lower revenues and profits due to softer demand and tariff impacts, but bookings and backlog remain strong. Strategic realignment of Nuvera and disciplined cost control are expected to drive future growth and resilience.
Fiscal Year 2024
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Q4 and full-year 2024 saw record revenues and profits, driven by strong Americas lift truck performance and strategic cost optimization. 2025 is expected to be challenging with lower revenues and margins due to soft bookings, but operational improvements and new products position the business for future growth.
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Q3 2024 saw year-over-year revenue growth but lower profit due to supply chain and market headwinds. Backlog and strategic initiatives support stability, but 2025 is expected to bring lower revenue and profit before a rebound in 2026.
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Q2 2024 saw record operating profit and margin, with revenue up 7% and net income up 65% year-over-year. Despite a sharp drop in North America bookings, strong backlog, pricing, and new product launches support a positive full-year outlook, with improved cash flow and reduced capital spending expected.