Hyster-Yale (HY) could be a solid choice for investors given its recent upgrade to a Zacks Rank #2 (Buy). This upgrade primarily reflects an upward trend in earnings estimates, which is one of the most powerful forces impacting stock prices. A company's changing earnings picture is at the core of the Zacks rating. The system tracks the Zacks Consensus Estimate -- the consensus measure of EPS estimates from the sell-side analysts covering the stock -- for the current and following years. Individual investors ...

Company Overview - Hyster-Yale, Inc. is headquartered in Cleveland, Ohio, and is a globally integrated company that offers a full line of lift trucks and solutions, including attachments and hydrogen fuel cell power products [2] - The company's vision is to transform material movement from Port to Home, focusing on understanding customer applications and providing optimal solutions to improve productivity at the lowest cost of ownership [2] Subsidiaries and Operations - Hyster-Yale's wholly owned subsidiary, Hyster-Yale Materials Handling, Inc., designs, engineers, manufactures, sells, and services a comprehensive line of lift trucks, attachments, and aftermarket parts, primarily under the Hyster® and Yale® brand names [3] - The company also owns Bolzoni S.p.A., a leading producer of attachments, forks, and lift tables, and Nuvera Fuel Cells, LLC, which focuses on fuel cell stacks and engines [3] - Hyster-Yale has an unconsolidated joint venture in Japan with Sumitomo NACCO [3] Recent Financial Announcement - The Board of Directors of Hyster-Yale, Inc. declared a regular cash dividend of 35 cents per share, payable on both Class A and Class B Common Stock [1] - The dividend will be paid on September 13, 2024, to stockholders of record at the close of business on August 30, 2024 [1]

Hyster-Yale Materials Handling, Inc. (NYSE:HY) Q2 2024 Earnings Conference Call August 7, 2024 11:00 AM ET Company Participants Christina Kmetko - Investor Relations Consultant Rajiv Prasad - President & CEO Scott Minder - CFO, SVP & Treasurer Alfred Rankin - Chairman Conference Call Participants Chip Moore - ROTH Capital Operator Good morning, ladies and gentlemen, and welcome to the Hyster-Yale Inc. Second Quarter 2024 Earnings Conference Call. At this time, all lines are in listen-only mode. Following th ...

Core Insights - Hyster-Yale reported quarterly earnings of $3.58 per share, exceeding the Zacks Consensus Estimate of $2.28 per share, and showing a year-over-year increase from $2.21 per share, resulting in an earnings surprise of 57.02% [1] - The company achieved revenues of $1.17 billion for the quarter ended June 2024, surpassing the Zacks Consensus Estimate by 8.11% and increasing from $1.09 billion year-over-year [2] - Hyster-Yale's stock has increased approximately 11.5% since the beginning of the year, outperforming the S&P 500's gain of 8.7% [3] Earnings Outlook - The future performance of Hyster-Yale's stock will largely depend on management's commentary during the earnings call and the company's earnings outlook [3][4] - Current consensus EPS estimate for the upcoming quarter is $1.51 on revenues of $1.05 billion, and for the current fiscal year, it is $8.30 on revenues of $4.26 billion [7] Industry Context - Hyster-Yale operates within the Manufacturing - Construction and Mining industry, which is currently ranked in the bottom 10% of over 250 Zacks industries, indicating potential challenges ahead [8]

Financial Performance - Revenues for Q2 2024 reached $1,168.1 million, a 7.1% increase from $1,090.6 million in Q2 2023[5] - Gross profit for the six months ended June 30, 2024, was $495.0 million, up 33.0% from $372.3 million in the same period last year[5] - Operating profit for Q2 2024 was $95.6 million, representing a 62.8% increase compared to $58.8 million in Q2 2023[5] - Net income attributable to stockholders for Q2 2024 was $63.3 million, a 65.3% increase from $38.3 million in Q2 2023[5] - Basic earnings per share for Q2 2024 were $3.62, compared to $2.23 in Q2 2023, reflecting a 62.1% increase[5] - Total revenues for the six months ended June 30, 2024, were $2,089.9 million, compared to $1,090.6 million for the same period in 2023, representing an increase of 91.8%[23] - Operating profit for the first six months of 2024 was $179.4 million, up from $101.4 million in the first six months of 2023, driven by higher pricing and favorable material costs[83] - Net income attributable to stockholders for the six months ended June 30, 2024, was $114.8 million, representing a 76.9% increase from $64.9 million in 2023[72] Cash Flow and Debt - The company reported a net cash provided by operating activities of $19.9 million for the six months ended June 30, 2024, down from $44.8 million in the same period last year[10] - Total debt additions for the period amounted to $89.0 million, while reductions of debt were $104.1 million[10] - The balance of cash and cash equivalents at the end of the period was $66.5 million, compared to $65.7 million at the end of the previous year[10] - As of June 30, 2024, the company had total debt of $501.9 million, with a debt to total capitalization ratio of 51%[99] - The carrying value of revolving credit agreements and long-term debt was $475.8 million as of June 30, 2024, compared to $466.7 million on December 31, 2023[38] Regional Performance - Dealer sales in the Americas for the six months ended June 30, 2024, were $1,012.6 million, while EMEA dealer sales were $320.3 million, indicating strong regional performance[25] - The Americas segment generated revenue of $881.5 million in the three months ended June 30, 2024, compared to $788.5 million in the same period of 2023, reflecting a growth of 11.8%[32] - The EMEA segment's revenue for the three months ended June 30, 2024, was $187.8 million, a decrease from $200.6 million in the same period of 2023, reflecting a decline of approximately 6.9%[32] Inventory and Warranties - Total manufactured inventories decreased from $906.6 million as of December 31, 2023, to $887.8 million as of June 30, 2024[53] - The total inventory value as of June 30, 2024, was $790.7 million, down from $815.7 million at the end of 2023[53] - The balance of warranty liabilities increased to $74.6 million as of June 30, 2024, from $68.1 million at the end of 2023[57] - The company provides standard warranties for lift trucks, generally for twelve months or 1,000 to 2,000 operating hours[54] Market Conditions and Future Outlook - The global lift truck market in Q2 2024 experienced a 56% year-over-year decrease in factory bookings in North America, indicating a significant market contraction[101] - The company expects below-trend North America factory bookings to continue into early 2025, as the market normalizes after elevated pandemic levels[101] - The company expects year-over-year revenue growth in the second half of 2024, driven by higher-priced backlog units, despite anticipated operating profit moderation due to increased costs[107] - Lift Truck's backlog stands at $2.6 billion, equivalent to 6 to 7 months of revenue at the current quarterly run rate, supporting business operations until market conditions improve[106] Comprehensive Income and Equity - Comprehensive income attributable to stockholders for Q2 2024 was $51.6 million, compared to $34.9 million in Q2 2023, indicating a significant increase[7] - As of June 30, 2023, total stockholders' equity was $290.5 million, an increase from $204.4 million on December 31, 2022, representing a growth of approximately 42.1%[12] - The total permanent equity as of June 30, 2024, was $467.9 million, reflecting an increase from $392.0 million on December 31, 2023, which is a growth of approximately 19.3%[12] Tax and Regulatory Matters - The reported income tax rate for the first six months of 2024 was 30.7%, compared to 23.9% for the same period in 2023, reflecting an increase of 28.4%[34] - The company has not adopted any recent accounting standards that materially affect its financial position or results of operations during the first six months of 2024[19] Derivatives and Financial Instruments - The Company held forward foreign currency exchange contracts with total notional amounts of $0.8 billion at June 30, 2024, down from $0.9 billion at December 31, 2023[43] - The fair value of foreign currency exchange contracts was a net liability of $27.6 million at June 30, 2024, compared to $12.2 million at December 31, 2023[43] - The Company has interest rate swap agreements with a notional amount of $180.0 million at June 30, 2024, maintaining an average fixed rate of 1.65%[45] - The fair value of interest rate swap agreements was a net asset of $13.1 million at June 30, 2024, up from $11.9 million at December 31, 2023[46] Capital Expenditures - Capital expenditures for the first six months of 2024 totaled $19.7 million, with planned expenditures for the remainder of 2024 expected to reach $32.4 million, bringing the total planned for 2024 to $48.4 million[97] - Capital expenditures for 2024 are projected to be $60 million, down from an earlier estimate of $84 million, reflecting a focus on maintaining liquidity[113]

Exhibit 99 NEWS RELEASE 5875 Landerbrook Drive, Suite 300 • Cleveland, Ohio 44124-4069 Tel. (440) 449-9600 • Fax (440) 449-9577 FOR FURTHER INFORMATION, CONTACT: Christina Kmetko For Immediate Release (440) 449-9589 Tuesday, August 6, 2024 HYSTER-YALE ANNOUNCES SECOND QUARTER 2024 RESULTS Q2 2024 Consolidated Highlights: • Continued consolidated revenue growth of more than 7% over Q2 2023 • Operating profit of $95.6 million, up 63% from Q2 2023, and ahead of expectations • Operating profit margin of 8.2%, u ...

Q2 2024 Consolidated Highlights: Continued consolidated revenue growth of more than 7% over Q2 2023 Operating profit of $95.6 million, up 63% from Q2 2023, and ahead of expectations Operating profit margin of 8.2%, up from 5.4% in Q2 2023 Net income of $63.3 million, up 65%, from Q2 2023 CLEVELAND, Aug. 6, 2024 /PRNewswire/ -- Hyster-Yale, Inc. (NYSE: HY) reported the following consolidated results for the three months ended June 30, 2024. | --- | --- | --- | --- | --- | --- | |----------------------------- ...

In conjunction with this release, the Company will host a webcast with the financial community at 11:00 a.m. ET on Wednesday, August 7, 2024, to discuss the financial results. Access to the live audio webcast will be available on the Company's website. About Hyster-Yale, Inc. The Company's wholly owned operating subsidiary, Hyster-Yale Materials Handling, Inc., designs, engineers, manufactures, sells and services a comprehensive line of lift trucks, attachments and aftermarket parts marketed globally primar ...

The most recent trading session ended with Hyster-Yale (HY) standing at $78.14, reflecting a +1.05% shift from the previouse trading day's closing. The stock fell short of the S&P 500, which registered a gain of 1.11% for the day. On the other hand, the Dow registered a gain of 1.64%, and the technology-centric Nasdaq increased by 1.03%. Investors will be eagerly watching for the performance of Hyster-Yale in its upcoming earnings disclosure. It is anticipated that the company will report an EPS of $2.28, m ...

Hyster-Yale (HY) closed the most recent trading day at $75.70, moving +1.5% from the previous trading session. The stock outperformed the S&P 500, which registered a daily loss of 0.16%. On the other hand, the Dow registered a loss of 0.14%, and the technology-centric Nasdaq decreased by 0.06%. The maker of lift trucks and aftermarket parts's stock has climbed by 4.82% in the past month, exceeding the Industrial Products sector's gain of 3.98% and the S&P 500's gain of 1.96%. The investment community will b ...