Hyster-Yale Stock Price, News & Analysis

Hyster Company has launched the E50-60XNL series, the first cushion tire counterbalanced lift truck designed specifically for lithium-ion power in the 5,000-to-6,000-pound capacity range. This new model enhances operator ergonomics and energy efficiency compared to traditional designs by utilizing a fully integrated lithium-ion battery. Quick charging allows the truck to reach full power in about 65 minutes, and its zero emissions make it suitable for sensitive indoor environments. The E50-60XNL aims to meet the rising demand for electric lift truck solutions across various industries.

Hyster Company has unveiled new high-capacity forklift models powered by integrated 350-volt lithium-ion batteries. These forklifts, ranging from 23,000 to 36,000 pounds load capacity, are designed for heavy-duty applications in industries such as steel and agriculture. The electric models promise performance comparable to diesel counterparts, with benefits including emission-free operation, lower total cost of ownership, and fast charging capabilities requiring as little as 11 minutes for up to an hour's use. Hyster aims to support clients in transitioning to clean power while maintaining operational efficiency.

Hyster Company has launched Hyster Reaction™, a groundbreaking technology package enhancing lift truck safety and performance. Developed after over 29,000 hours of R&D in collaboration with a leading logistics firm, it features advanced dynamic stability, object and proximity detection, and real-time location sensing. Key functionalities include automatic speed adjustments at intersections and hydraulic lock-outs for heavy loads. This scalable solution aims to complement operator training and improve safety in demanding environments.

Hyster-Yale Materials Handling, Inc. (NYSE: HY) has increased its cash dividend from 31.75 cents to 32.25 cents per share, effective June 15, 2021. This new dividend translates to an annual rate of $1.29 per share. The dividend payment is applicable to both Class A and Class B Common Stock, with stockholders of record on June 1, 2021, eligible to receive it. This increment reflects the company's ongoing commitment to providing returns to shareholders.

Hyster-Yale Materials Handling (NYSE:HY) will host a virtual 2021 Investor Day on May 25 for institutional investors and equity analysts. The event, led by CEO Alfred M. Rankin, Jr. and President Rajiv K. Prasad, will outline the company’s strategic roadmap aimed at delivering long-term shareholder value. Starting at 10:00 am ET, it will include presentations from senior management and a live Q&A session. Interested parties can register through the provided link, and a replay will be available on the company’s website.

Hyster-Yale reported Q1 2021 consolidated revenues of $732.2 million, down 6.8% from Q1 2020, with net income at $5.6 million or $0.33 per share. A surge in demand for lift trucks was hindered by supply chain issues, causing a significant reduction in shipments, especially in the Americas. Operating profit plummeted to $3.1 million from $20.2 million a year prior. Despite these challenges, unit bookings increased significantly, reflecting strong market demand and a historically high backlog. The company expects improved performance in Q2 2021 amid ongoing supply constraints.

Hyster-Yale Materials Handling, Inc. (NYSE:HY) will release its 2021 First Quarter financial results after market close on May 4, 2021. A conference call to discuss these results is scheduled for 11:00 a.m. ET on May 5, 2021. Interested parties can register for the call via a provided link, with the call also accessible through the Company’s Investor Relations website.

Following the conference call, a replay will be available for listeners. Hyster-Yale provides a range of materials handling solutions globally, including lift trucks under the Hyster and Yale brands.

On March 17, 2021, Hyster-Yale Materials Handling (NYSE: HY) released a statement from its Board of Directors emphasizing its commitment to maximizing shareholder value. The Board and management are continuously exploring ideas to enhance value for stockholders. While the Company refrains from commenting on individual communications, it maintains a proactive approach toward identifying strategies that contribute to value creation. Hyster-Yale operates through its subsidiaries, producing a range of materials handling solutions globally under well-known brands.

Cetus Capital VI, L.P., a significant shareholder of Hyster-Yale Materials Handling (NYSE: HY), has urged the company's Board of Directors to consider strategic alternatives for its subsidiary, Nuvera Fuel Cells. Cetus argues that Nuvera, valued significantly lower than peers in the fuel cell industry, possesses superior technology and could be worth billions. The letter highlights management concerns, claiming Nuvera is mismanaged under Hyster-Yale, which is more focused on its core lift truck business. Cetus calls for immediate evaluation of a sale or spin-off to unlock value for shareholders.