Welcome to our dedicated page for Hyster-Yale news (Ticker: HY), a resource for investors and traders seeking the latest updates and insights on Hyster-Yale stock.
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 reported Q2 2022 revenues of $895.4 million, up 17% from Q2 2021. Despite increased shipments in EMEA, the company faced an operating loss of $15.7 million and a net loss of $19.4 million due to inflation from the Russia/Ukraine conflict and component shortages. Shipments rose by 11.5%, but bookings declined sharply by 50% compared to Q1 2022. The company forecasts improved margins in Q4 2022 as production aligns with higher price points. Significant operating losses are expected in Q3 2022 due to seasonal shutdowns and ongoing supply constraints.
Hyster-Yale Materials Handling, Inc. (NYSE:HY) will release its 2022 Second Quarter financial results and file its 10-Q after the market closes on August 2, 2022. A conference call will be held on August 3, 2022, at 11:00 a.m. ET to discuss the results. Interested participants can register via a provided link and listen through a live webcast on the Investor Relations site. A replay will be available afterward. Hyster-Yale offers various materials handling solutions and operates globally, focusing on lift trucks and alternative-power technologies.
Hyster-Yale Materials Handling (NYSE: HY) has declared a regular cash dividend of 32.25 cents per share, payable on June 15, 2022, to stockholders of record by the close of business on June 1, 2022. This announcement reflects the company's ongoing commitment to returning value to shareholders. Hyster-Yale operates in the materials handling sector, providing a wide range of lift trucks and aftermarket parts globally under the Hyster® and Yale® brands.
Hyster-Yale Group has appointed Black Equipment as the sole authorized dealer for Hyster and Yale lift truck brands in Memphis, effective April 29, 2022. This agreement follows Black Equipment's acquisition of Briggs Equipment's operations in the region. Black Equipment, recognized as a Dealer of Excellence for 22 years, aims to enhance service and support for customers, further expanding Hyster and Yale's presence in Memphis, Jackson, and Jonesboro. The company has already dedicated 80 trained technicians to serve these markets effectively.
Hyster has signed a non-binding Memorandum of Understanding with Hamburger Hafen und Logistik AG (HHLA) to provide two electric container handling vehicles, including the first empty container handler powered by fuel cell technology. This partnership aims to support HHLA's 'Clean Port and Logistics' initiative to achieve climate neutrality by 2040, utilizing Nuvera fuel cells and hydrogen fuel produced locally. The initial delivery of the terminal tractor is anticipated by late 2022, with the empty container handler following in early 2023.
Hyster-Yale Materials Handling reported Q1 2022 revenues of $827.6 million, up 13.0% from Q1 2021, driven by a 7.2% increase in shipments. Despite revenue growth, the company faced an operating loss of $18.3 million and a net loss of $25.0 million. Factors affecting profitability included material and freight cost inflation, component shortages, and reserve charges on Russian inventory. The outlook for Q2 2022 indicates expected greater losses, but improvements are anticipated in Q3 and Q4 as the backlog is addressed. Bolzoni and Nuvera also reported improved revenues and operational adjustments.
Hyster-Yale Materials Handling (NYSE:HY) announced its 2022 First Quarter financial results release on May 3, 2022, post-market close. A conference call is scheduled for May 4, 2022, at 11:00 a.m. Eastern Time to discuss these results. Investors are encouraged to register for the call via a provided link, ensuring timely connection. The call will also be streamed live on Hyster-Yale's Investor Relations website, with a replay available afterward, emphasizing the company's commitment to keeping stakeholders informed.
The Yale narrow aisle reach truck has received the 2021 GOOD DESIGN Award, following its recognition as Product of the Year in 2020 from both Material Handling Product News and Plant Engineering. Designed for high-density warehousing, it enhances productivity by up to 7% per truck per shift and uses 20% less energy than competitors. With ergonomic features to boost operator comfort and a serviceability design that saves up to $2,500 annually in maintenance, the truck offers improved visibility, increasing safety and efficiency. Currently available for order, it supports load capacities from 3,000 to 4,500 pounds.
Hyster-Yale Materials Handling (HY) reported Q4 2021 results showing a revenue increase of 15.3% year-over-year, totaling $829.7 million. Despite this growth, the company faced significant challenges with a consolidated operating loss of $107 million largely due to a $55.6 million goodwill impairment and rising material costs. Bookings rose 16.5%, but production was disrupted by component shortages. Looking ahead, HY expects improved margins in 2022 as it navigates its backlog and rising costs, projecting profitability by Q4 2022.
Hyster-Yale Materials Handling (NYSE: HY) announced a cash dividend of 32.25 cents per share, payable on March 22, 2022, to stockholders of record by March 8, 2022. This dividend applies to both Class A and Class B Common Stock, demonstrating the company's commitment to returning value to shareholders. Hyster-Yale specializes in materials handling solutions and operates globally under the Hyster® and Yale® brands.
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