Hyster-Yale Inc is a leading manufacturer of material handling equipment, specializing in the design, production, and distribution of forklifts, lift trucks, and container handlers
The company offers a broad range of products and solutions tailored to meet the diverse needs of industries such as warehousing, construction, and logistics. Beyond manufacturing, Hyster-Yale provides support services, parts, and technology solutions to enhance operational efficiency and safety in material handling processes. With a commitment to innovation and sustainability, the company aims to improve productivity while reducing environmental impact.
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What a brutal six months it’s been for Hyster-Yale Materials Handling. The stock has dropped 25.7% and now trades at $56.22, rattling many shareholders. This was partly due to its softer quarterly results and may have investors wondering how to approach the situation.
Shares of lift truck and material handling solutions manufacturer Hyster-Yale Materials Handling (NYSEHY)
fell 20.6% in the morning session after the company reported weak third quarter earnings. Its revenue missed and its EBITDA fell short of Wall Street's estimates. The quarter revealed weakness in some geographies, such as the EMEA (Europe, Middle East, and Africa) region, as sales decreased by 21%, primarily due to supply chain challenges and lower production rates. The company also called out weaknesses in the lift truck market. Overall, this quarter could have been better.
Lift truck and material handling solutions manufacturer Hyster-Yale Materials Handling (NYSEHY) missed Wall Street’s revenue expectations in Q3 CY2024 as sales only rose 1.5% year on year to $1.02 billion. Its GAAP profit of $0.97 per share was also 50.8% below analysts’ consensus estimates.
Lift truck and material handling solutions manufacturer Hyster-Yale Materials Handling (NYSEHY)
will be announcing earnings results tomorrow before the bell. Here’s what you need to know.
