Hyster-Yale Materials Handling Shares Drop

NEW YORK – Shares of Hyster-Yale Materials Handling (NYSE:HY) dropped 6.67% after the lift truck manufacturer reported third quarter earnings that fell short of analyst expectations.

Hyster-Yale posted adjusted earnings per share of $0.97, missing the consensus estimate of $1.97. Revenue came in at $1.02 billion, slightly below the $1.04 billion analysts were expecting.

The company said revenues increased 2% YoY to $1.02 billion, driven by higher consolidated average sales prices and a favorable sales mix shift. However, overall sales volumes declined as increases in the Americas were more than offset by a decline in EMEA.

Operating profit fell 44% YoY to $33.1 million, which the company attributed to lower sales margins on parts and services, higher freight costs, and increased operating expenses to support new product launches.

> “Our Q3 results reflect ongoing solid execution in a seasonally lower quarter,” said CEO Alfred Rankin Jr. “While we saw continued year-over-year revenue growth led by our Americas Lift Truck and Bolzoni segments, operating profit was below the exceptionally strong Q3 2023 results.”

Looking ahead, Hyster-Yale expects Q4 consolidated revenues and operating profit to be roughly comparable year-over-year. For 2025, the company anticipates revenues may be lower than 2024 levels, with operating profit and net income declining significantly compared to 2024.

The company generated $70 million in operating cash flow during Q3 and reduced its debt-to-total capital ratio to 46% from 51% at the end of Q2.

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