Quarterly ResultMay 5, 2026, 04:52 PM
Hyster-Yale Q1 Revenue $795M (-13% YoY); Operating Loss $28M
AI Summary
Hyster-Yale, Inc. reported a significant decline in Q1 2026 financial results, with consolidated revenues falling 13% year-over-year to $795.2 million and an operating loss of $28 million, primarily due to a shift towards lighter-duty trucks and tariff costs. Despite the losses, bookings showed a 7% sequential increase, indicating early market stabilization. The company anticipates Q2 2026 to be the financial low point, with a projected recovery in the second half of the year driven by stronger bookings, new product offerings, and ongoing cost-reduction initiatives, aiming for a modest full-year operating profit.
Key Highlights
- Consolidated revenues were $795.2M, a 13% decrease year-over-year and 14% sequentially.
- Operating loss was $(28.0)M in Q1 2026, compared to a $21.3M profit in Q1 2025.
- Net loss was $(30.5)M, compared to $8.6M net income in Q1 2025.
- Diluted earnings per share loss was $(1.71), down from $0.48 EPS in Q1 2025.
- Q1 bookings strengthened 7% sequentially to $580M, signaling early stabilization.
- Lift Truck business revenues declined 14% year-over-year to $739.7M.
- Bolzoni Group revenues increased 3% year-over-year to $82.9M.
- Restructuring program targets $40-$45M in annualized cost reductions for 2026.
- Manufacturing footprint optimization expects $30-$40M annualized benefits by 2028.
- Net cash used for operating activities was $(32.9)M in Q1 2026.