Core Viewpoint - Hyster-Yale, Inc. is implementing a strategic realignment of its Nuvera fuel cell business to enhance profitability and integrate energy solutions, expecting annualized cost reductions of $15 to $20 million starting in the second half of 2025 [1][2][3] Group 1: Strategic Business Realignment - The realignment aims to absorb Nuvera resources into open positions to accelerate the development of battery products and services, along with a mobile charging platform [1][2] - The company anticipates incurring employee severance and impairment costs of approximately $15 to $18 million in Q2 2025 due to this realignment [1] Group 2: Product Development and Synergies - The program will leverage Nuvera's technical skills to enhance the growth and profitability of battery and charger programs, including off-grid power solutions and electric power solutions for port equipment [2][3] - Significant technical and product synergies are expected between fuel cells, lithium-ion batteries, chargers, and the mobile charge platform, particularly in controls, packaging, cooling, and manufacturing [2] Group 3: Broader Strategic Change Program - This realignment is part of a larger strategic change program aimed at transforming Hyster-Yale's core forklift truck business while expanding into warehouse forklift trucks, automation, and energy management [3] - The company is focusing on creating modular, scalable products and optimizing its manufacturing footprint to support revenue growth and enhance operating profitability [3] Group 4: Future Product Launches - Initial sales of the HydroChargeTM product are expected to commence in the second half of 2025, with battery and fuel cell electric port equipment trucks already in customer testing [2] - The company is also developing a mobile, modular hybrid electric charging platform that will utilize both battery solutions and Nuvera's fuel cell technology [4]

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 [3][4] - The company's vision is to transform the way materials are moved from Port to Home, focusing on understanding customer applications and providing optimal solutions to improve productivity at the lowest cost of ownership [3] Financial Results Announcement - Hyster-Yale, Inc. will release its First Quarter 2025 financial results after the market closes on May 6, 2025 [1] - A webcast will be hosted on May 7, 2025, at 11:00 a.m. ET to discuss the financial results, with access available on the company's website [1][2] Subsidiaries and Operations - The company'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 [4] - Hyster-Yale also includes subsidiaries such as Bolzoni S.p.A., which produces attachments and lift tables, and Nuvera Fuel Cells, LLC, focused on fuel cell technology [4]