Hyster-Yale Earnings Call Transcripts
Fiscal Year 2026
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Bookings and revenue improved sequentially, with bookings more than doubling year-over-year and operating cash flow turning positive. Tariff-related costs and production transitions are delaying some shipments, but strategic initiatives and cost reductions are expected to drive stronger performance in the second half of 2026.
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Bookings and backlog improved sequentially, but Q1 revenue declined year-over-year due to a shift toward lighter-duty trucks and persistent tariff headwinds. Transformation initiatives and new product launches are expected to drive profitability in the second half of 2026.
Fiscal Year 2025
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Bookings rebounded sharply in Q4 2025, led by North America, but revenue and profit were pressured by tariffs and a shift to lower-margin products. Cost-saving initiatives and new product launches position the company for margin recovery and growth as demand improves in 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.