Hyster-Yale (HY) Tops Q2 Earnings and Revenue Estimates

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]