HYSTER-YALE ANNOUNCES THIRD QUARTER 2025 RESULTS

Core Insights - Hyster-Yale, Inc. reported a decline in revenues and profits for Q3 2025, reflecting ongoing economic uncertainty and reduced truck volumes across all product lines [1][7][9] Financial Performance - Revenues for Q3 2025 were $979.1 million, down 4% year-over-year from $1,016.1 million in Q3 2024, but up 2% sequentially from $956.6 million in Q2 2025 [2][7] - Operating profit fell to $2.3 million, a 93% decrease from $33.1 million in Q3 2024, while net income was a loss of $2.3 million compared to a profit of $17.2 million in the same quarter last year [2][7] - Diluted earnings per share were $(0.13), down from $0.97 in Q3 2024, reflecting a 113% decline [2][7] Lift Truck Business Results - Lift Truck revenues were $929.3 million, a 4% decline year-over-year, attributed to lower truck volumes due to economic uncertainty [3][4] - The Americas segment saw revenues of $732.7 million, down 5% from $771.5 million in Q3 2024, while EMEA revenues increased by 4% year-over-year [3][8] - Gross profit for the Lift Truck business was $134.3 million, down 21% from $169.9 million in Q3 2024 [5][7] Tariff Impact - Tariff costs were approximately $40 million in Q3 2025, contributing to the decline in operating profit [9] - The company is implementing price increases and cost reductions to mitigate the impact of tariffs on financial results [18][19] Cash Flow and Liquidity - Operating cash flow improved to $37 million, driven by increased inventory efficiency [17] - The company reduced debt slightly to $467.8 million compared to $468.5 million a year ago, maintaining a focus on liquidity management [14][15] Market Outlook - The company anticipates continued challenges due to tariffs and economic uncertainty, with proactive measures in place to improve financial results [18][19] - Despite a contraction in the lift truck market, there was an uptick in booking activity, with dollar value bookings improving to $380 million from $330 million in the prior quarter [21][24] Strategic Initiatives - The company is focused on operational improvement projects to streamline manufacturing and optimize operations, with expected benefits starting in 2026 [31] - Long-term objectives include transforming the lift truck business and expanding into new markets, with a commitment to innovation and customer engagement [38]