Welcome to our dedicated page for Hyster-Yale news (Ticker: HY), a resource for investors and traders seeking the latest updates and insights on Hyster-Yale stock.
Hyster-Yale, Inc. reports developments in its lift truck and materials-handling business, including earnings releases, order bookings, shipment volumes, production rates, backlog levels and regional demand trends. The company designs, engineers, manufactures, sells and services lift trucks, attachments, aftermarket parts and technology solutions marketed under the Hyster and Yale brands.
Recurring updates also cover Bolzoni attachment operations, tariff and input-cost effects, inventory efficiency, product-mix shifts, and results across the Americas, EMEA and JAPIC regions. Company announcements include quarterly dividends on Class A and Class B common stock and scheduled earnings webcasts tied to financial results.
Hyster Company has launched the first hydrogen fuel cell-powered top-pick container handler, tested at Fenix Marine Services in Los Angeles. Utilizing two 45kw hydrogen fuel cells from Nuvera, the handler aims to provide up to 10 hours of operation on a 15-minute refuel time, eliminating harmful emissions. Supported by a grant from the California Air Resources Board, this innovation aligns with Clean Air Action Plan 2030 objectives and promotes hydrogen as a viable zero-emission fuel. This initiative is part of a broader commitment by the parent company, CMA CGM Group, towards sustainability and net-zero carbon by 2050.
Hyster-Yale Materials Handling (NYSE: HY) has announced a cash dividend of 32.25 cents per share for its Class A and Class B Common Stock. This dividend will be paid on September 15, 2022, to shareholders on record as of the close of business on September 1, 2022. This consistent dividend declaration reflects the company's ongoing commitment to returning value to its shareholders.
Hyster-Yale Materials Handling, Inc. (NYSE: HY) has announced the retirement of Kenneth C. Schilling, CFO, effective December 31, 2022, after 31 years with the company. Scott A. Minder, currently Vice President at ATI Inc., will succeed him as CFO on August 29, 2022. Schilling will assist in the transition as a Special Financial Advisor until his retirement. Under Schilling’s leadership, the company navigated its spin-off from NACCO Industries and made significant strides in strategic financial initiatives, setting the stage for future growth.
Hyster-Yale Materials Handling reported Q2 2022 revenues of $895.4 million, up 17% from Q2 2021. Despite increased shipments in EMEA, the company faced an operating loss of $15.7 million and a net loss of $19.4 million due to inflation from the Russia/Ukraine conflict and component shortages. Shipments rose by 11.5%, but bookings declined sharply by 50% compared to Q1 2022. The company forecasts improved margins in Q4 2022 as production aligns with higher price points. Significant operating losses are expected in Q3 2022 due to seasonal shutdowns and ongoing supply constraints.
Hyster-Yale Materials Handling, Inc. (NYSE:HY) will release its 2022 Second Quarter financial results and file its 10-Q after the market closes on August 2, 2022. A conference call will be held on August 3, 2022, at 11:00 a.m. ET to discuss the results. Interested participants can register via a provided link and listen through a live webcast on the Investor Relations site. A replay will be available afterward. Hyster-Yale offers various materials handling solutions and operates globally, focusing on lift trucks and alternative-power technologies.
Hyster-Yale Materials Handling (NYSE: HY) has declared a regular cash dividend of 32.25 cents per share, payable on June 15, 2022, to stockholders of record by the close of business on June 1, 2022. This announcement reflects the company's ongoing commitment to returning value to shareholders. Hyster-Yale operates in the materials handling sector, providing a wide range of lift trucks and aftermarket parts globally under the Hyster® and Yale® brands.
Hyster-Yale Group has appointed Black Equipment as the sole authorized dealer for Hyster and Yale lift truck brands in Memphis, effective April 29, 2022. This agreement follows Black Equipment's acquisition of Briggs Equipment's operations in the region. Black Equipment, recognized as a Dealer of Excellence for 22 years, aims to enhance service and support for customers, further expanding Hyster and Yale's presence in Memphis, Jackson, and Jonesboro. The company has already dedicated 80 trained technicians to serve these markets effectively.
Hyster has signed a non-binding Memorandum of Understanding with Hamburger Hafen und Logistik AG (HHLA) to provide two electric container handling vehicles, including the first empty container handler powered by fuel cell technology. This partnership aims to support HHLA's 'Clean Port and Logistics' initiative to achieve climate neutrality by 2040, utilizing Nuvera fuel cells and hydrogen fuel produced locally. The initial delivery of the terminal tractor is anticipated by late 2022, with the empty container handler following in early 2023.
Hyster-Yale Materials Handling reported Q1 2022 revenues of $827.6 million, up 13.0% from Q1 2021, driven by a 7.2% increase in shipments. Despite revenue growth, the company faced an operating loss of $18.3 million and a net loss of $25.0 million. Factors affecting profitability included material and freight cost inflation, component shortages, and reserve charges on Russian inventory. The outlook for Q2 2022 indicates expected greater losses, but improvements are anticipated in Q3 and Q4 as the backlog is addressed. Bolzoni and Nuvera also reported improved revenues and operational adjustments.
Hyster-Yale Materials Handling (NYSE:HY) announced its 2022 First Quarter financial results release on May 3, 2022, post-market close. A conference call is scheduled for May 4, 2022, at 11:00 a.m. Eastern Time to discuss these results. Investors are encouraged to register for the call via a provided link, ensuring timely connection. The call will also be streamed live on Hyster-Yale's Investor Relations website, with a replay available afterward, emphasizing the company's commitment to keeping stakeholders informed.