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Hyster-Yale Materials Handling, Inc., headquartered in Cleveland, Ohio, is a globally integrated company and a prominent leader in the materials handling industry. Established in 1989, the company provides strategic leadership and global support behind two of the most recognized brands in the sector: Hyster® and Yale®. Hyster-Yale designs, engineers, manufactures, sells, and services an extensive range of lift trucks and aftermarket parts.
Operating through three main business segments—Lift Trucks, Bolzoni, and Nuvera—Hyster-Yale offers solutions tailored to meet the specific needs of over 700 industries worldwide. Their product portfolio includes electric and internal combustion engine lift trucks, warehouse equipment such as pallet trucks and narrow aisle trucks, and heavy-duty container handling equipment capable of handling up to 52 tonnes.
Hyster-Yale’s Lift Truck business is known for its innovative solutions aimed at improving customer productivity at the lowest cost of ownership. Their modular, scalable 2- to 3.5-ton internal combustion engine lift trucks, which are now fully launched globally, exemplify this approach. The company is also advancing in electrification projects, including launching its first electrified fuel cell Container Handler at the Port of Los Angeles.
Bolzoni, a subsidiary specializing in attachments, forks, and lift tables, follows a
Hyster-Yale Materials Handling (HY) reported record consolidated revenues of $985.2 million for Q4 2022, an increase of 18.7% year-over-year. The company achieved a consolidated operating profit of $19.8 million and net income of $7.6 million, rebounding from losses in previous quarters.
The lift truck segment saw increased average sales prices and profitability despite ongoing component shortages. Looking ahead, a substantial increase in consolidated net income is anticipated for the full year 2023 as the company improves profitability across its Lift Truck and Bolzoni businesses.
Hyster-Yale Materials Handling, Inc. (NYSE:HY) announced that it will release its 2022 Fourth Quarter and Full Year financial results on February 27, 2023, after market close. A conference call is scheduled for 11:00 a.m. ET on February 28, 2023 to discuss the results. Investors can register for the call and access a live webcast on the company’s Investor Relations website. The company’s subsidiaries include Hyster-Yale Group, Inc. and Bolzoni S.p.A, focusing on manufacturing lift trucks and attachments.
On February 14, 2023, Hyster-Yale Materials Handling (NYSE: HY) announced a regular cash dividend of 32.25 cents per share. This dividend applies to both Class A and Class B Common Stock and will be distributed on March 15, 2023. Stockholders of record as of March 1, 2023 will receive this payment. The company's robust position in materials handling solutions and diversified product offerings under the Hyster and Yale brands underscore its commitment to shareholder returns.
Hyster Company has launched the H40-70A series, featuring a lift truck platform designed to enhance operator performance while minimizing ownership costs. With a lifting capacity of 4,000 to 7,000 pounds, these trucks incorporate the Dynamic Stability System (DSS) for improved safety. The A Series platform allows for customizable options tailored to specific applications, promoting efficiency and budget control. Ergonomic enhancements ensure operator comfort and productivity. Hyster's innovative design philosophy, A+ Logic, aims to deliver solutions tailored to diverse customer needs, reinforcing its commitment to the market.
On November 15, 2022, Hyster-Yale Materials Handling (NYSE: HY) declared a cash dividend of 32.25 cents per share, payable on December 15, 2022. This dividend applies to both Class A and Class B Common Stock, with a record date of December 1, 2022. The company continues to support its shareholders through consistent dividend payments, reflecting its ongoing commitment to delivering shareholder value.
Hyster-Yale Materials Handling reported a Q3 2022 consolidated revenue of $840.1 million, up 12.3% from Q3 2021, driven by higher lift truck prices and parts volumes. The consolidated operating loss improved to $(24.9 million), nearly $30 million better than the previous year. Net debt reduced by $28.6 million. The company anticipates a return to profitability in Q4 2022, despite challenges from unfavorable currency effects and ongoing market constraints. The average sales price per unit backlog rose 38% year-over-year.
Hyster-Yale Materials Handling, Inc. (NYSE: HY) will release its 2022 Third Quarter financial results on November 1, 2022, after market close. A conference call will be held on November 2, 2022, at 11:00 a.m. Eastern Time to discuss the results. Registration for the call is available online, and a replay will be accessible after the call concludes. The firm offers comprehensive materials handling solutions, primarily under the Hyster® and Yale® brands, and has global subsidiaries including Bolzoni S.p.A. and Nuvera Fuel Cells.
Hyster Company has launched the first hydrogen fuel cell-powered top-pick container handler, tested at Fenix Marine Services in Los Angeles. Utilizing two 45kw hydrogen fuel cells from Nuvera, the handler aims to provide up to 10 hours of operation on a 15-minute refuel time, eliminating harmful emissions. Supported by a grant from the California Air Resources Board, this innovation aligns with Clean Air Action Plan 2030 objectives and promotes hydrogen as a viable zero-emission fuel. This initiative is part of a broader commitment by the parent company, CMA CGM Group, towards sustainability and net-zero carbon by 2050.
Hyster-Yale Materials Handling (NYSE: HY) has announced a cash dividend of 32.25 cents per share for its Class A and Class B Common Stock. This dividend will be paid on September 15, 2022, to shareholders on record as of the close of business on September 1, 2022. This consistent dividend declaration reflects the company's ongoing commitment to returning value to its shareholders.
Hyster-Yale Materials Handling, Inc. (NYSE: HY) has announced the retirement of Kenneth C. Schilling, CFO, effective December 31, 2022, after 31 years with the company. Scott A. Minder, currently Vice President at ATI Inc., will succeed him as CFO on August 29, 2022. Schilling will assist in the transition as a Special Financial Advisor until his retirement. Under Schilling’s leadership, the company navigated its spin-off from NACCO Industries and made significant strides in strategic financial initiatives, setting the stage for future growth.
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