Hyster-Yale Materials Handling Inc
NYSE:HY
Hyster-Yale Materials Handling Inc
Hyster-Yale Materials Handling, Inc. engages in the manufacture of lift trucks. The company is headquartered in Cleveland, Ohio and currently employs 8,100 full-time employees. The Company, through Hyster-Yale Group, Inc., designs, engineers, manufactures, sells and services a line of lift trucks, attachments and aftermarket parts marketed globally, primarily under the Hyster and Yale brand names. Its segments include the Americas; Europe, the Middle East and Africa (EMEA), and Japan, Asia, Pacific, India and China (JAPIC). The company offers a range of solutions, including attachments and hydrogen fuel cell power products, telematics, automation and fleet management services, as well as a variety of other power options for its lift trucks. The company also sells aftermarket parts under the UNISOURCE and PREMIER brands to Hyster and Yale dealers for the service of competitor lift trucks. Its lift trucks and component parts are manufactured in the United States, China, Northern Ireland, Mexico, the Netherlands, Brazil, the Philippines, Italy, Japan and Vietnam.
Hyster-Yale Materials Handling, Inc. engages in the manufacture of lift trucks. The company is headquartered in Cleveland, Ohio and currently employs 8,100 full-time employees. The Company, through Hyster-Yale Group, Inc., designs, engineers, manufactures, sells and services a line of lift trucks, attachments and aftermarket parts marketed globally, primarily under the Hyster and Yale brand names. Its segments include the Americas; Europe, the Middle East and Africa (EMEA), and Japan, Asia, Pacific, India and China (JAPIC). The company offers a range of solutions, including attachments and hydrogen fuel cell power products, telematics, automation and fleet management services, as well as a variety of other power options for its lift trucks. The company also sells aftermarket parts under the UNISOURCE and PREMIER brands to Hyster and Yale dealers for the service of competitor lift trucks. Its lift trucks and component parts are manufactured in the United States, China, Northern Ireland, Mexico, the Netherlands, Brazil, the Philippines, Italy, Japan and Vietnam.
Revenue Drop: Q3 revenue fell 4% year-over-year to $929 million, mainly on lower truck volumes due to soft market demand and customer deferrals.
Tariff Headwinds: Tariffs significantly hit both costs and demand, with $40 million in direct tariff costs in Q3, only partially offset by price increases.
Bookings & Backlog: Q3 bookings increased to $380 million from $330 million in Q2, but backlog decreased to $1.35 billion from $1.65 billion as shipments outpaced bookings.
Profitability Pressure: Operating profit declined by $27 million year-over-year; Q4 is projected to show a moderate operating loss, with further backlog erosion expected.
Cost Actions: Management is focused on cost controls, operational efficiency, and is prepared to take further action if demand weakens further.
Product Innovation: New modular truck platforms and lithium-ion offerings are rolling out, with positive customer feedback and targeted margin improvement.
Outlook Cautious: Demand expected to remain soft into early 2026, but management sees signs of stabilization and is positioning for market recovery.
