HY

Over the last six months, Hyster-Yale Materials Handling’s shares have sunk to $35.16, producing a disappointing 8.9% loss - a stark contrast to the S&P 500’s 11.7% gain. This might have investors contemplating their next move. Is there a buying opportunity in Hyster-Yale Materials Handling, or does it present a risk to your portfolio? Dive into our full research report to see our analyst team’s opinion, it’s free. Even with the cheaper entry price, we’re passing on Hyster-Yale Materials Handling for now. Here are three reasons why HY doesn’t excite us, plus one stock we’d rather own. A company’s long-term sales performance is one signal of its overall quality. Any business can put up a good quarter or two, but many enduring ones grow for years. Unfortunately, Hyster-Yale Materials Handling’s 4.1% annualized revenue growth over the last five years was sluggish. This fell short of our benchmark for the industrials sector. We track the long-term change in earnings per share (EPS) because it highlights whether a company’s growth is profitable. Sadly for Hyster-Yale Materials Handling, its EPS declined by 41.4% annually over the last five years while its revenue grew by 4.1%. This tells us the company became less profitable on a per-share basis as it expanded. As long-term investors, the risk we care about most is the permanent loss of capital, which can happen when a company goes bankrupt or raises money from a disadvantaged position. This is separate from short-term stock price volatility, something we are much less bothered by. Hyster-Yale Materials Handling posted negative $54.3 million of EBITDA over the last 12 months, and its $357.8 million of debt exceeds the $72.6 million of cash on its balance sheet. This is a deal breaker for us because indebted loss-making companies spell trouble. We implore our readers to tread carefully because credit agencies could downgrade Hyster-Yale Materials Handling if its unprofitable ways continue, making incremental borrowing more expensive and restricting growth prospects. The company could also be backed into a corner if the market turns unexpectedly. We hope Hyster-Yale Materials Handling can improve its profitability and remain cautious until then. Hyster-Yale Materials Handling doesn’t pass our quality test. Following the recent decline, the stock trades at 137.4× forward P/E (or $35.16 per share). At this valuation, there’s a lot of good news priced in - we think there are better opportunities elsewhere. We’d suggest looking at one of our top digital advertising picks. ALSO WORTH WATCHING: Top 5 Momentum Stocks. The best time to own a great stock is when the market is finally noticing it. These aren’t just high-quality businesses. Something is happening with them right now. Elite fundamentals meet near-term momentum — both boxes checked at the same time. Find out which stocks our AI platform is flagging this week. See this week’s Strong Momentum stocks — FREE. Get Our Strong Momentum Stocks for Free HERE. Stocks that have made our list include now familiar names such as Nvidia (+1,460% between June 2020 and June 2025) as well as under-the-radar businesses like the once-small-cap company Exlservice (+271% between June 2020 and June 2025). Find your next big winner with StockStory today.

Hyster-Yale Materials Handling delivered a second quarter marked by sequential improvement, with both bookings and revenue showing positive momentum compared to the previous quarter. Management attributed this progress to stronger demand for lift trucks, disciplined working capital management, and positive operating cash flow, all despite ongoing pressures from tariffs and subdued market volumes. CEO Rajiv Prasad emphasized, “Bookings increased, revenue improved, operating results moved in the right direction and quarterly cash flow turned positive compared to the first quarter of 2026.” The company also benefited from a $35 million tariff refund, which was largely offset by higher material and tariff costs. Is now the time to buy HY? Find out in our full research report (it’s free). Revenue: $812.9 million vs analyst estimates of $804.6 million (15% year-on-year decline, 1% beat) Adjusted EPS: -$1.64 vs analyst estimates of -$2.05 (19.8% beat) Adjusted EBITDA Margin: -0.8% Market Capitalization: $629.4 million While we enjoy listening to the management’s commentary, our favorite part of earnings calls is the analyst questions. Those are unscripted and can often highlight topics that management teams would rather avoid or topics where the answer is complicated. Here is what has caught our attention. Edward Jackson (Northland Securities) asked if the pickup in bookings would continue into Q3. CEO Rajiv Prasad confirmed the trend has persisted, with seasonal holiday slowdowns expected but underlying momentum intact. Edward Jackson (Northland Securities) questioned whether some Q3 revenue would shift to Q4 due to production changes. Prasad explained that tariff-driven production shifts have delayed certain shipments, validating Jackson’s interpretation. Edward Jackson (Northland Securities) inquired about production capacity and utilization. Prasad stated that capacity exceeds current needs, with ramp-up dependent on hiring, training, and supply chain coordination rather than infrastructure constraints. Edward Jackson (Northland Securities) probed on unit versus dollar booking performance and modular product impact. Prasad detailed that booking growth is consistent across units and dollars, with increased demand for value and standard trucks in low-usage applications like retail. Edward Jackson (Northland Securities) asked about the aftermarket strategy and margin potential. Prasad gave examples of new tire and remanufactured parts offerings, but declined to disclose specific revenue or margin figures publicly. In the coming quarters, our analysts will be closely watching (1) the pace at which increased bookings convert into higher shipments and revenue, (2) the impact of tariff mitigation actions and sourcing changes on production efficiency and cost structure, and (3) the expansion of aftermarket and parts revenue streams. Progress on modular platform adoption and execution of manufacturing footprint optimization will also be key indicators of sustained recovery. Hyster-Yale Materials Handling currently trades at $35.16, in line with $35.13 just before the earnings. Is the company at an inflection point that warrants a buy or sell? The answer lies in our full research report (it’s free for active Edge members). ALSO WORTH WATCHING: Top 5 Momentum Stocks. The best time to own a great stock is when the market is finally noticing it. These aren’t just high-quality businesses. Something is happening with them right now. Elite fundamentals meet near-term momentum — both boxes checked at the same time. Find out which stocks our AI platform is flagging this week. See this week’s Strong Momentum stocks — FREE. Get Our Strong Momentum Stocks for Free HERE. Stocks that have made our list include now familiar names such as Nvidia (+1,460% between June 2020 and June 2025) as well as under-the-radar businesses like the once-small-cap company Exlservice (+271% between June 2020 and June 2025). Find your next big winner with StockStory today.

Image source: The Motley Fool. Wednesday, Aug. 5, 2026 at 11 a.m. ET Director of Investor Relations and Treasury - Andrea Sejba Executive Chairman - Al Rankin President and Chief Executive Officer - Rajiv Prasad Operator: Good day, and welcome to the Hyster-Yale Inc. Second Quarter 2026 Earnings Conference Call. [Operator Instructions] Please note that today's event is being recorded. I would now like to turn the conference over to Andrea Sejba, Director of Investor Relations and Treasury. Please go ahead. Andrea Sejba: Good morning, and thank you for joining us for Hyster-Yale's Second Quarter 2026 Earnings Call. I am Andrea Sejba, Director of Investor Relations and Treasury. Joining me today are Al Rankin, Executive Chairman; and Rajiv Prasad, President and Chief Executive Officer. We will be discussing our Q2 2026 earnings release issued yesterday. You can find the release and a replay of this webcast on the Hyster-Yale website. The replay will remain available for approximately 12 months. Today's call contains forward-looking statements subject to risks that could cause actual results to differ materially from those expressed or implied. These risks are outlined in our earnings release and SEC filings. We will also discuss adjusted results, which we believe are useful supplements to GAAP financial measures. Reconciliations of adjusted results to the most directly comparable GAAP measures are available in our earnings release and investor presentation. Before turning the call over to Rajiv, I will briefly highlight our second quarter results. The second quarter of 2026 represented another step forward in what we continue to view as a gradual market recovery. Compared with the first quarter of 2026, we improved in several key metrics, including bookings, revenue, operating performance and cash flow. While volumes remain below optimal levels and profitability is still under pressure, the trends during the second quarter provide evidence that demand and business activity are moving in the right direction. Bookings for the quarter were $680 million, up 17% sequentially and more than double the level of the second quarter of 2025. This marks our fourth consecutive quarter of bookings growth. Revenue was $813 million, up 2% compared to the first quarter of 2026 as stronger bookings began translating into higher shipments. Consolidated operating loss improved to $18 million, approximately $10 million better than the first quarter of 2026. Most of that improvement came from the lift truck business, where higher shipments, favorable pricing and lower employee-related expenses helped offset ongoing market challenges. The quarter also included a $35 million in tariff refunds. However, those benefits were largely offset by unfavorable capitalized material costs and $10 million in higher gross tariff expenses. Bolzoni also improved sequentially during the second quarter of 2026, returning to profitability as favorable product mix, lower freight costs and disciplined cost management more than offset slightly lower revenue. In the second quarter of 2026, net loss was $32 million and includes the establishment of a $3 million noncash valuation allowance related to Brazilian deferred tax assets. Second quarter operating cash flow was a source of $17 million, improving approximately $50 million from the first quarter of 2026 despite continuing losses. The improvement was driven primarily by lower inventory levels and favorable changes in accrued liabilities following first quarter annual incentive compensation payments. The positive operating cash flow reflects the disciplined working capital actions the company executed during a challenging operating environment. With the second quarter results outlined, I'll now turn the call over to Rajiv to discuss the market environment, progress we are making on our strategic initiatives and our consolidated outlook. Rajiv Prasad: Thanks, Andrea, and good morning, everyone. As Andrea highlighted, we saw encouraging signs of improvement during the quarter. I will start with our perspective on the current market cycle and demand environment, then discuss the actions we are taking to strengthen our competitive position before reviewing our consolidated outlook. We believe the first half of 2026 marked the financial low point of the current lift truck cycle. While we are still in the early stages of recovery, demand improved during the second quarter and several important operating indicators moved in a positive direction. We are beginning to gain financial traction from the stronger booking trends we have since the low point in the second and third quarters of 2025. What is particularly encouraging is sequential improvement across several key operating indicators. Bookings increased, revenue improved, operating results moved in the right direction and quarterly cash flow turned positive compared to the first quarter of 2026. That shift to positive cash flow is especially important because it reflects the working capital discipline we have been maintaining even while profitability remains under pressure. While we are far from full recovery, the business is beginning to move in the right direction. At the same time, we are seeing encouraging results from strategic initiatives that are expanding our participation across the market and creating opportunities for future growth. One of the developments we are most encouraged by is the momentum we are seeing in our value product offerings. These products are opening opportunities in areas of the market where our competitiveness has historically been more limited, helping us reach broader range of customers and applications. Importantly, this is the result of a deliberate strategy that began several years ago. We invested in modular, scalable product platforms designed to expand our portfolio and improve our ability to compete across multiple price points and customer requirements. As those products have become more broadly available, customer adoption has been strong and demand continues to build. More broadly, these investments reflect our commitment to expanding our addressable market and strengthening our competitive position. Today, we offer value, standard and premium products across our key markets. As customers' buying patterns have shifted towards a broader mix of applications and price points, we've been well positioned to respond. That has enabled us to broaden market participation, support market share gains and create additional growth opportunities over time. What is particularly attractive about this strategy is the modular architecture behind it. We leverage common platforms, components and manufacturing processes across multiple product categories. That allows us to serve more customers, while maintaining scale efficiency and attractive margin opportunities. Simply put, it enables us to offer the right truck at the right price for a broad range of customers, while supporting stronger margins, improved manufacturing efficiency and better long-term return on our product investments. As volumes grow, we expect these platforms to provide additional benefits through improved manufacturing scale, product cost management and operating efficiencies. They also increase our flexibility as we continue adopting sourcing and production activities in response to tariff and other external factors. The benefits of these portfolio investments are increasingly showing up in our order activity. During the quarter, customers engaged with a broader portion of our product offering, contributing to stronger bookings across multiple categories. Bookings reached their highest quarterly levels in 3 years, driven primarily by the Americas. The improvement reflects both strengthening customer activity and the benefit of actions we have taken to broaden our participation across customer segments. Greater demand visibility supports the production rate increases we are implementing across the business, which we expect will drive higher shipments over time. While bookings have strengthened, shipments have not increased at the same pace. Customer order patterns continue to include a mix of near-term demand and deliveries scheduled for further in the future, including some beyond 6 months. In addition, increases in production require time to move through the supply chain and supply network. As a result, there remains a lag between booking growth and shipment realization. Some customer delivery schedules have shifted later into the year, including orders where customers modified requested delivery times after the original booking was placed. At the same time, certain sourcing and production transitions associated with tariff mitigation initiatives are affecting shipment timing. As a result, production growth is expected to temporarily lag booking growth, and we expect improvements to be weighted more heavily towards the latter part of 2026. Both sourcing and production changes reflect the actions we are taking to manage a challenging cost environment, while positioning the business for stronger long-term performance. More broadly, we remain focused on improving operating efficiency and aligning our cost structure with current market conditions. Turning to tariffs. They remain a headwind and continue to influence both cost and production decisions across the business. Our focus is not only on managing today's impact, but also on positioning the company with a more resilient and flexible supply chain over the long term. To reduce future exposure, we are implementing sourcing and production changes, including relocating certain activities to the United States and other lower tariff regions. While these actions are creating some temporary disruption to production schedules and shipment timing, they're expected to strengthen our cost position over time and provide greater flexibility across our business. We expect pricing, sourcing and product cost initiative to deliver increasing benefits in the second half of the year. Although these actions are not expected to fully offset tariff-related costs, they are helping mitigate the impact, while preserving our competitive position. Beyond our tariff mitigation actions, we are continuing to focus on improving our cost structure. Our 2025 restructuring program captured approximately half of the expected annualized savings in the first half of this year. These actions are establishing a lower ongoing cost structure for the business rather than simply delivering near-term savings. As demand recovers and production volumes increase, we expect that lower cost base to contribute meaningfully to earnings growth and improved operating performance. We continue to expect the program to deliver approximately $40 million to $45 million of annualized savings. More importantly, these actions are lowering the underlying cost structure of the business and should provide increased profitability as demand and production volumes recover. We're also seeing encouraging progress at Bolzoni as it continues to expand its growth opportunities through the integration of Walmart's mass business, new attachment introductions and the expansion of its camera vision systems. Together, these initiatives broaden Bolzoni's addressable market, enhance its product offerings and support long-term profitable growth. Let me now turn to our consolidated outlook. Our overall view of the recovery remains unchanged. Demand has improved, bookings have strengthened, and we are raising production rates to meet the increased demand. However, customer delivery schedules and sourcing transitions associated with our tariff mitigation initiatives have shifted some of that recovery later into the year. As a result, we expect a moderate operating loss for full year 2026 with the most significant improvement occurring in the second half as production levels increase. As we move through the second half, we expect performance to improve as production levels rise and shipments increase. Higher volume, pricing actions, manufacturing efficiency improvements and cost reduction initiatives are expected to support earnings growth. At the same time, tariff-related costs and competitive pricing pressures are expected to moderate the pace of recovery. Our priorities remain unchanged. We are focused on converting stronger bookings into shipments, improving manufacturing efficiencies, managing tariff exposure through pricing and sourcing actions and maintaining working capital discipline and generating cash. We believe these actions position us to improve performance through the balance of 2026, while continuing to advance our long-term objective of achieving 7% operating profit over the business cycle. Looking beyond 2026, we continue to believe the building blocks for a stronger earnings profile are in place. As production volumes recover, we expect profitability and cash generation to improve. Based on our current outlook, we expect trailing 12-month EBITDA to be above pre-COVID levels in the second half of 2027. Importantly, this expectation is supported not only by a cyclical recovery in demand, but also by structural improvements we have made to the business, including portfolio expansion, cost reduction initiatives, modular product platforms and manufacturing footprint optimization. Our manufacturing footprint optimization projects remain on track and are expected to provide further benefits to earnings as implementation activities are completed. We currently expect these initiatives to begin contributing meaningfully in the second half of 2027, with approximately $15 million to $20 million of annualized benefits expected as volumes recover. Over time, these actions are expected to improve efficiency, lower our cost structure and reduce our long-term breakeven point and support stronger operating results. The manufacturing footprint optimization, in addition with the 2025 restructuring program, position us to enter the next phase of the cycle with more efficient manufacturing footprint and a lower structural cost base. Combined with our expanded product portfolio and modular platform strategy, we believe these initiatives will strengthen our competitive position and support sustainable profitable growth over the long term. With that, I'll turn the call over to Al for a few closing remarks before we open the line for questions. Alfred Rankin: Thank you, Rajiv. In summary, while the recovery remains gradual and external challenges persist, we are encouraged by the company's progress. Bookings have increased for 4 consecutive quarters. And as a result, production rates and shipments will be increasing. Second quarter operating cash flow has returned to a positive and many of the strategic actions we have been implementing are beginning to gain traction. Importantly, we are not simply waiting for the market to recover. We are actively strengthening the business through disciplined actions in portfolio expansion, manufacturing footprint optimization, restructuring initiatives, tariff mitigation actions and responding appropriately to competitors' activities. Together, these efforts are lowering our structural cost base, including resilience across the cycle and positioning us to have greater value as market conditions continue to improve. Overall, we remain fully committed to serving our customers exceptionally well, as well as to creating sustainable long-term shareholder value through growth, stronger profitability over the cycle and strong cash generation. That concludes our prepared remarks. We will now open the line for questions. Operator: [Operator Instructions] And today's first question comes from Ted Jackson at Northland Securities. Edward Jackson: Congratulations on the quarter, guys. So, I wanted to start out just a simple thing. I mean it's good to see all the bookings growth. The business is turning around, the market is turning around. Is it fair to assume, given the commentary, Rajiv, that you continue to see a pickup -- the pickup in bookings continue at least to date with regards to in the third quarter? Rajiv Prasad: Yes, we're seeing the same trend. Obviously, as we have said multiple times before, third quarter is when we have our July and August kind of holidays everywhere around the world. So, that does affect our bookings, but the trend has definitely continued. Edward Jackson: Okay. And so, when I listen to your commentary, I mean, you're clearly signaling that you feel that the strength that you've seen in bookings is going to really start to kick in, and we're going to see it more on the top line as we get into the second half of '26. But I perceive from the press release and the commentary you provided that perhaps some of the revenue that you thought you might recognize in the third quarter will shift out into the fourth quarter. And is that a correct read of your commentary? Or am I parsing too? Rajiv Prasad: Yes. I think that would be the case. Maybe I can give you some solid example of what's happening. So, our original plan was to build some of the trucks, for instance, for North America in Europe. And with the change in April to the 232 tariffs, which was quite dramatic for us, we changed those plans. And those trucks have now been rescheduled to produce in North America with -- of course, our customer are aware of this with some changes in delivery timing. So that's one example of something that happened because, as you know, initially, that tariff was 25% on like on the cost of imported trucks, which was then reduced to 15% from Europe. So -- but still, that is a significant cost impact. So, we've reacted to that and changed production plans. So, that's one example. I guess the other thing we talked about is some customers as they start to get trucks and their own operations are -- the utilization rate is generally lower out there. So, they're trying to make decisions on where to put the truck and at times are asking for change in delivery dates. So that's -- but that's a minor part. The bigger part has been more the -- our own production change due to tariffs. Edward Jackson: Well, it sounds like a smart strategic move on your part to make that change. Obviously, you wouldn't have done it if you didn't think so. But like -- so we're seeing bookings or everything else. Is it -- and you're commenting that your production rates are going to be continuing to run behind your bookings. So then implicit in that is that as we think about I mean not maybe on a quarter-to-quarter, but for the remainder of the year and quite possibly into 2027, we should continue to see backlog. Rajiv Prasad: I mean I think we'll see it flatten out in '27. But you're right about this ramp-up. As you know, Ted, this has been a significant ramp-up and still in progress. We're in the early stages and -- but that will continue throughout this year. And I would say it will -- based on our expectation for the 2027 market, I think we'll be at a good rate by the first quarter of '27. Edward Jackson: Shifting over into production rates. Maybe to give a little color, when you look at the capacity that you have in place, I mean, maybe think about it from what is the utilization rate and where do you think you can get it to? How far under, for lack of a better term, kind of retail demand do you think you might be producing this year I'm kind of getting a sense in terms of how is that -- how are you going to fill that capacity and kind of what's driving this one along with that? Rajiv Prasad: Yes. So, I think it's best to give you a bit of resolution. In terms of our plant capacity, we have more capacity than we need right now. So, what it requires is hiring more people and getting the supply chain to fire. And we've checked with our suppliers given enough lead time, they can respond to it. So, we don't think there is any infrastructural issue. It's just a question of hiring, training and the people for our plants and then putting the supply chain with enough lead time so they can respond. And as you know, if we don't have one part, we don't build a truck. So, we are being very careful with that ramp-up. All the lessons learned we've had during COVID, we're using to ensure our ramp-up is very disciplined. Edward Jackson: Okay. Well, I'm going to let other people ask some questions and I have a few more. Again, congrats on the quarter and looking forward to seeing the back half of this year '27. Operator: [Operator Instructions] And it looks like we do have another follow-up from Ted Jackson of Northland Securities. Edward Jackson: I like it. You guys, I own you right now. I wanted to shift over because we spent a lot of time kind of talking about backlog and bookings from a revenue perspective. When we think about it from a unit perspective, how has the turn in bookings been? I mean you've got 4 quarters of growth. How has it looked from a units perspective? I mean, does it align similarly with the dollar amounts you put out? Or as you're having more and more success with the modular product offering, is the unit view different? And if so how? Rajiv Prasad: The way I would characterize it is that the ramp-up in volume is pretty even across our product lines. Now within the product lines, the way we define the product lines, there is a trend towards the simpler trucks. And we think that's the right thing. Those customers, we're always very focused on making sure the customer gets the right truck for their application. And as we have done a better job of understanding their application, we feel that these -- some of the simpler, what we call our standard and value trucks are the right trucks for those applications. And again, I'll give you an example, Ted. One is retail. So, if you imagine a big box store, they typically have our 5,000-pound counterbalance truck in some form. And 3 years ago, we were selling them a premium truck. And that truck does about 700 hours a year. There's no need for that. Those trucks are designed for 3,000, 4,000 hours a year. So, now we've had the value and standard product. We've shared it with those customers. They have had them in their applications. They like the simplicity of it, the ease of operation for casual drivers. And so that's the right solution for them and the right price and the right value. So, we feel good about that. So, I think there is that kind of -- so the width of the -- of our offering has widened and customers are appreciating that. And so there is a little bit more bend towards the standard and value. But again, we're in the early stages of this. Edward Jackson: And then my next question, and it might be my last one is you've talked about a strategy to where you want to grow your kind of parts and kind of an aftermarket business. And I know it's early innings with regards to kind of laying out that strategy. But can you maybe provide some color around where you are in terms of progress with that initiative and provide an example or 2 there as well? Rajiv Prasad: Sure. So we're, again, early. We're launching some new part solutions as we speak, but I'll give you one. Probably the most important aftermarket part, which is tires. In the past, we weren't actively marketing tires. We were making our OEM tires available to the market, mostly through kind of drop ship arrangements. As we have discussed this more with our dealers and customers, customers want to see some scalability in tires. So, there's 2 ways tires end their life, either they can wear out or they can age out. And if I go back to my example of the retail truck, just imagine that you put a premium tire on those trucks, those tires will age out. After 4 years, they have to be replaced because the rubber is starting to deteriorate through chemical reactions and gassing. So, it's a better solution on that particular case to put a tire which has more of a wear characteristic. So, in 4 years, not only will it age out, but wear out. And upfront, there will be a lower-cost tires. And because we're matching those better to our trucks, we are now labeling them. We're developing them with our suppliers jointly, and then we're labeling them as high source tires. So that's one example of business. We were in through drop ship, which is not really focused on serving the customers more availability and margin associated with it are limited to creating the right tire solution for the right customer. And then obviously, those are -- the margins are appropriate for that type of solution. So hopefully, that gives you a sense for what we're doing, Ted. We're doing similar things on the battery side. We're also making -- we've had one line of product go out of production, our 2 to 3 -- 1 to 3.5 ton previous model of trucks. There are 300,000 to 400,000 of trucks of those trucks out in the marketplace and customers who are starting to ask for the primary components to be refurbished and remanufactured because with a 5-year-old truck, it's tough to put a brand-new transmission in there. And so, we've just done that. And now some of those axles and transmissions are being rebuilt by Bolzoni in the plant they originally built them and made available to the market as remanufactured with warranty that supports it. So that's, again, another example of what we're doing. Edward Jackson: And then just final kind of follow-up to this discussion, and then I am going to head up in my queues. What percentage of Hyster-Yale's revenue comes from kind of the parts business and where do you want it to go? And then what's the margin differential between parts and kind of the core? Rajiv Prasad: Those are things that we don't talk about outside -- in public. So, I think that's going to be tough. Maybe outside the meeting, Andrea can help you a little bit with that. But yes, I would like to keep that out from the public answering. Operator: And that does conclude our question-and-answer session. I'd like to turn the conference back over to Andrea Sejba so for any closing remarks. Andrea Sejba: Well, we thank you for your questions today. A replay of our call will be available online later today, and the transcript will be posted on the Hyster-Yale website. If you have any follow-up questions, please feel free to reach out to me directly. My contact information is included in the earnings release. Thank you again for joining us today. I'll now turn the call over to Rocco to provide the replay information. Operator: Thank you. To access the audio replay of today's event, please dial 1 (855) 669-9658 or 1 (412) 317-0088 and enter access code 4850489. The replay will be available until August 12, 2026. Today's conference has now concluded, and we thank you all for attending today's presentation. You may now disconnect your lines and have a wonderful day. 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This article is a transcript of this conference call produced for The Motley Fool. While we strive for our Foolish Best, there may be errors, omissions, or inaccuracies in this transcript. As with all our articles, The Motley Fool does not assume any responsibility for your use of this content, and we strongly encourage you to do your own research, including listening to the call yourself and reading the company's SEC filings. Please see our Terms and Conditions for additional details, including our Obligatory Capitalized Disclaimers of Liability. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. Hyster-Yale (HY) Q2 2026 Earnings Call Transcript was originally published by The Motley Fool

Interested in Hyster-Yale, Inc.? Here are five stocks we like better. Hyster-Yale’s recovery continued in Q2: Bookings rose 17% sequentially to $680 million, while revenue increased 2% to $813 million and the operating loss narrowed to $18 million. Operating cash flow improved by approximately $50 million sequentially to positive $17 million. Tariffs and delivery timing are delaying the rebound: Production shifts and customer requests are expected to move some revenue from the third quarter into the fourth quarter, pushing more of the recovery into late 2026. The company still expects a moderate operating loss for full-year 2026. Cost initiatives support the longer-term outlook: Restructuring, sourcing changes and manufacturing-footprint optimization are expected to deliver significant savings, while Bolzoni returned to profitability. Management projects trailing 12-month EBITDA to exceed pre-COVID levels in the second half of 2027. Hyster-Yale (NYSE:HY) said second-quarter results showed further signs of a gradual recovery in the lift truck market, with sequential gains in bookings, revenue, operating performance and cash flow. Management said, however, that customer delivery timing and production changes tied to tariff mitigation are expected to shift a larger portion of the recovery into the latter part of 2026. Bookings totaled $680 million in the second quarter, up 17% from the first quarter and more than double the level reported in the second quarter of 2025. The company said this marked its fourth consecutive quarter of booking growth and its highest quarterly booking level in three years, driven primarily by the Americas. → Sandisk Just Delivered a Blowout Quarter—Here's Why the Stock Is Falling Revenue was $813 million, a 2% sequential increase, as stronger order activity began to translate into higher shipments. Consolidated operating loss narrowed to $18 million, an improvement of about $10 million from the first quarter. Net loss was $32 million, including a $3 million non-cash valuation allowance related to Brazilian deferred tax assets. Andrea Sejba, Hyster-Yale’s director of investor relations and treasury, said the lift truck business benefited from higher shipments, favorable pricing and lower employee-related expenses during the quarter. The results also included $35 million in tariff refunds, although that benefit was largely offset by unfavorable capitalized material costs and $10 million in higher gross tariff expense. → 4 Oil and Gas ETF Plays as Prices Stay Sky-High Rajiv Prasad, Hyster-Yale’s president and chief executive officer, said the company believes the first half of 2026 marked the financial low point of the current lift truck cycle. He said demand improved in the second quarter, but the company remains in the early stages of a recovery. “While we are far from full recovery, the business is beginning to move in the right direction,” Prasad said. → No Hangover: Revisiting Microsoft One Week After Earnings The company is raising production rates to meet higher demand, but management said shipment growth will temporarily lag booking growth. Orders include both near-term demand and deliveries scheduled more than six months out, while production increases require time to move through the supply chain. Prasad also cited changes to manufacturing plans resulting from tariffs. He told analysts that Hyster-Yale had initially intended to build certain trucks for North America in Europe, but shifted those production plans to North America after changes in April to Section 232 tariffs. He said the tariffs initially amounted to 25% of the cost of imported trucks and were subsequently reduced to 15% for imports from Europe. Those changes have affected delivery timing, and Prasad said the company expects some revenue previously anticipated in the third quarter to shift into the fourth quarter. He added that some customers have requested later delivery dates as they assess truck placement and utilization in their own operations. Management said pricing, sourcing and product-cost initiatives are expected to provide increasing benefits in the second half, though they are not expected to fully offset tariff-related costs. Hyster-Yale is relocating certain sourcing and production activities to the United States and other lower-tariff regions in an effort to reduce future exposure and create a more flexible supply chain. The company also said its 2025 restructuring program captured about half of its anticipated annualized savings during the first half of 2026. Hyster-Yale continues to expect the program to generate approximately $40 million to $45 million in annualized savings. Prasad said the company’s manufacturing footprint optimization projects remain on schedule and are expected to begin contributing meaningfully in the second half of 2026. As volumes recover, management expects the projects to provide approximately $15 million to $20 million of annualized benefits. The company also highlighted demand for its value, standard and premium product offerings. Prasad said Hyster-Yale’s modular product platforms allow it to serve a wider range of applications and price points while using common platforms, components and manufacturing processes. During the question-and-answer session, Prasad said booking growth has been relatively even across product lines, although demand has shown “a little bit more bend” toward standard and value trucks. He cited retail applications as an example where customers may not require premium equipment designed for heavier annual utilization. Hyster-Yale said it has sufficient plant capacity for the current ramp-up, but expansion will require hiring and training workers as well as providing suppliers with adequate lead time. Prasad said the company is applying lessons from the COVID-era supply-chain disruption to keep the production ramp disciplined. Bolzoni, Hyster-Yale’s attachment business, returned to profitability in the second quarter despite slightly lower revenue. Sejba said favorable product mix, lower freight costs and cost management more than offset the revenue decline. Management said Bolzoni is pursuing growth through the integration of Valmar’s mast business, new attachment introductions and expanded camera vision systems. The company said these efforts are intended to expand Bolzoni’s addressable market and support long-term profitable growth. Operating cash flow was positive $17 million in the second quarter, improving about $50 million from the first quarter despite continued losses. Sejba said the improvement reflected lower inventory and favorable changes in accrued liabilities after first-quarter annual incentive compensation payments. Hyster-Yale maintained its expectation for a moderate operating loss for full-year 2026. Management expects the most significant improvement to occur in the second half as production levels and shipments rise, supported by higher volume, pricing actions, manufacturing efficiency improvements and cost reductions. Tariff-related costs and competitive pricing pressure are expected to moderate the pace of recovery. The company said it remains focused on converting orders into shipments, controlling working capital and generating cash. Looking beyond 2026, Hyster-Yale said it expects trailing 12-month EBITDA to exceed pre-COVID levels in the second half of 2027, based on its current outlook. Management attributed that expectation to both a demand recovery and structural initiatives including portfolio expansion, restructuring, modular product platforms and manufacturing footprint optimization. Hyster-Yale Materials Handling, Inc is a global manufacturer and distributor of a wide range of industrial lift trucks, container handlers and aftermarket parts and services. Operating under the Hyster and Yale brand names, the company designs, engineers and assembles counterbalanced lift trucks, narrow-aisle trucks and specialty vehicles for clients in distribution, manufacturing, retail and warehousing. The company's product portfolio includes electric, diesel and LPG-powered forklifts, as well as reach stackers, empty container handlers and terminal tractors. This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to [email protected]. The article "Hyster-Yale Q2 Earnings Call Highlights" was originally published by MarketBeat. View MarketBeat's top stocks for August 2026.

This article first appeared on GuruFocus. Bookings: $680 million, up 17% sequentially and more than double the second quarter of 2025, marking the fourth consecutive quarter of bookings growth. Revenue: $813 million, up 2% compared to the first quarter of 2026. Operating Loss: Consolidated operating loss improved to $18 million, approximately $10 million better than the first quarter of 2026. Net Loss: $32 million in the second quarter of 2026, including a $3 million non-cash valuation allowance related to Brazilian deferred tax assets. Operating Cash Flow: A source of $17 million, improving approximately $50 million from the first quarter of 2026. Tariff Refunds: $35 million in tariff refunds received during the quarter, largely offset by unfavorable capitalized material costs and $10 million in higher gross tariff expenses. Bolzoni Segment: Returned to profitability sequentially, driven by favorable product mix, lower freight costs, and disciplined cost management. Restructuring Savings: 2025 restructuring program captured approximately half of the expected annualized savings in the first half of 2026, with $40 million to $45 million of annualized savings expected. Manufacturing Footprint Optimization: Expected to contribute $15 million to $20 million of annualized benefits as volumes recover, beginning in the second half of 2026. Warning! GuruFocus has detected 3 Warning Sign with HY. Is HY fairly valued? Test your thesis with our free DCF calculator. Release Date: August 05, 2026 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Bookings surged 17% sequentially to $680 million, marking the fourth consecutive quarter of growth and the highest level in three years. Revenue increased 2% quarter-over-quarter to $813 million, reflecting stronger bookings translating into higher shipments. Consolidated operating loss improved by $10 million sequentially, driven by higher shipments, favorable pricing, and lower employee-related expenses in the lift truck business. Bolzoni returned to profitability in Q2 2026, benefiting from favorable product mix, lower freight costs, and disciplined cost management. Operating cash flow turned positive at $17 million, a $50 million improvement from Q1, supported by disciplined working capital management and lower inventory levels. Strategic initiatives, including value product offerings and modular platforms, are gaining traction, broadening market participation and supporting market share gains. The 2025 restructuring program is on track to deliver $40-$45 million in annualized savings, with half already captured in H1 2026. Manufacturing footprint optimization projects are expected to contribute $15-$20 million in annualized benefits as volumes recover, lowering the structural cost base. Tariff mitigation actions, including relocating production to the U.S. and other lower-tariff regions, are expected to strengthen the cost position over time. Management expects trailing 12-month EBITDA to exceed pre-COVID levels by H2 2027, supported by cyclical recovery and structural improvements. The company reported a net loss of $32 million in Q2 2026, including a $3 million non-cash valuation allowance on Brazilian deferred tax assets. Tariffs remain a significant headwind, with $10 million in higher gross tariff expenses and $35 million in tariff refunds only partially offsetting costs. Shipments continue to lag bookings due to customer delivery schedule shifts and sourcing/production transitions, delaying revenue realization. Production ramp-up is temporarily constrained by the need to hire and train workers and ensure supply chain readiness, limiting near-term volume growth. Full-year 2026 is still expected to result in a moderate operating loss, with recovery weighted heavily toward the second half. Competitive pricing pressures and tariff-related costs are expected to moderate the pace of earnings recovery. The company faces temporary disruption to production schedules and shipment timing due to tariff mitigation actions, impacting Q3 revenue expectations. Customer order patterns include deliveries scheduled beyond six months, creating a lag between booking growth and shipment realization. The company's value product offerings, while expanding market reach, may carry lower margins compared to premium products, potentially pressuring profitability. Despite improvements, volumes remain below optimal levels and profitability is still under pressure, indicating the recovery is in early stages. Q: Is it fair to assume that the pickup in bookings has continued into the third quarter?A: Rajiv Prasad (President and CEO) confirmed that the positive booking trend has continued, though he noted that the third quarter typically experiences some slowdown due to July and August holidays globally. The overall trend remains intact. Q: Has some of the revenue you expected to recognize in the third quarter shifted into the fourth quarter?A: Rajiv Prasad (President and CEO) confirmed this is the case. He provided a specific example: the company originally planned to build certain North American trucks in Europe, but after the April 232 tariff changes, they rescheduled production to North America, which altered delivery timing. He also noted that some customers with lower utilization rates are requesting changes to delivery dates, though this is a minor factor compared to the production changes driven by tariffs. Q: Given that production rates are running behind bookings, should we expect backlogs to continue recovering through 2027?A: Rajiv Prasad (President and CEO) stated that the backlog will likely flatten out in 2027. He explained that the current ramp-up is significant and still in its early stages, and based on expectations for the 2027 market, the company should be at a good production rate by the first quarter of 2027. Q: How does the current production capacity and utilization rate compare to retail demand, and what is driving the ramp-up?A: Rajiv Prasad (President and CEO) explained that the company has more plant capacity than it currently needs. The challenge is not infrastructure but hiring and training new employees and ensuring the supply chain can respond with adequate lead time. He emphasized that the company is being very disciplined with the ramp-up, applying lessons learned during COVID to avoid disruptions. Q: How has the booking growth looked from a unit perspective, and is there a shift toward simpler, value-oriented trucks?A: Rajiv Prasad (President and CEO) said the volume ramp-up is fairly even across product lines, but there is a trend toward simpler, standard, and value trucks. He gave an example of big-box retail customers who previously bought premium trucks for low-hour applications (around 700 hours per year) but are now adopting value and standard trucks, which are better suited for their needs and offer the right price and value. This reflects the company's strategy to offer the right truck for the right application. Q: Can you provide an update on the strategy to grow the parts and aftermarket business?A: Rajiv Prasad (President and CEO) highlighted two examples. First, the company is now actively marketing its own branded tires, developing them jointly with suppliers to match specific applications (e.g., wear-out vs. age-out tires for retail trucks), which improves margins compared to previous drop-ship arrangements. Second, the company has begun offering remanufactured axles and transmissions for its previous model trucks (1 to 3.5 tons), of which there are 300,000-400,000 units in the field, providing a cost-effective alternative to new parts for older trucks. Q: What percentage of revenue comes from the parts business, and what is the margin differential compared to core products?A: Rajiv Prasad (President and CEO) declined to disclose these specific figures publicly, stating that the company does not discuss these details in public forums. He suggested that the investor relations team could provide some additional context outside the call. For the complete transcript of the earnings call, please refer to the full earnings call transcript.

Q2 2026 Consolidated Highlights: Bookings of $680 million represent the fourth consecutive quarter of growth; 17% higher sequentially and twice the level of Q2 2025 Revenue increased sequentially as stronger bookings began to translate into higher shipments Operating loss reduced sequentially Operating cash flow improved in Q2 2026 compared to Q1 2026 Income tax change includes establishment of a non-cash valuation allowance for Brazil CLEVELAND, Aug. 4, 2026 /PRNewswire/ -- Cleveland, Ohio, August 4, 2026: Hyster-Yale, Inc. (NYSE: HY) reported the following consolidated results for the three months ended June 30, 2026. Lift Truck Business ResultsRevenues by geographic segment were as follows: Lift Truck revenue increased 2% from Q1 2026 as improved bookings began to translate into higher shipments. Higher volume and favorable pricing drove the sequential improvement. Q2 2026 Lift Truck revenue of $756 million decreased 16% from the prior year, primarily due to lower shipment volumes and an unfavorable product mix. Positive pricing of $17 million partially offset these impacts. The year-over-year decline reflected lower sales of higher-value standard and premium counterbalanced lift trucks, particularly Class 1 and Class 4 products, as customers shifted towards lighter-duty, lower-priced models. Recently introduced low-intensity products continued to gain market acceptance and helped offset lower sales of higher-revenue products. These products supported market share gains and profitability as customer demand shifted towards lower-priced segments. Gross profit and operating profit (loss) by geographic segment were as follows: Sequentially, Lift Truck operating results improved $7 million from Q1 2026, driven by higher shipment volumes, favorable pricing, and lower employee-related expenses, including incentive compensation. Gross margin benefited from $35 million of refunds related to previously paid tariffs. This benefit was largely offset by unfavorable capitalized material costs and $10 million of higher gross tariff costs compared with Q1 2026. The tariff refund recorded does not change the Company's future tariff exposure. Lift Truck operating results declined from the prior year primarily due to lower shipment volumes, unfavorable product mix, and $20 million of incremental gross tariff-related costs. Gross profit decreased 28% from the prior year, primarily reflecting lower sales of higher-value 4–9 ton and 1–3.5 ton lift trucks. Positive pricing realization of $17 million across most lift product lines partially offset these impacts. Selling, general and administrative expenses decreased $18 million from the prior year, primarily due to lower employee-related expenses, including incentive compensation, and benefits from restructuring actions implemented in Q4 2025. Bolzoni Group Results Sequentially, revenues decreased slightly primarily due to lower volume in the Americas. Operating profit increased $2.1 million, driven by improved gross margins from lower freight costs and favorable product mix, as well as lower operating expenses. Bolzoni Group revenues decreased from Q2 2025, primarily due to lower volume in the Americas. Favorable product mix and foreign currency translation partially offset the decline. Gross profit increased modestly despite lower sales, reflecting lower freight costs and favorable product mix. Operating profit declined year over year as higher SG&A expenses, including personnel costs associated with the 2025 Valmar acquisition, more than offset the gross profit improvement. Income Tax ExpenseIn Q2 2026, the Company reported income tax expense of $8.1 million, compared with $0.2 million of income tax expense in Q2 2025. The Q2 2026 effective tax rate primarily reflects the geographic mix of operating results and limitations on recognizing tax benefits from losses primarily due to the Company's U.S. and U.K. valuation allowance positions. In addition, the Company recorded a $3.4 million non-cash valuation allowance charge against deferred tax assets in Brazil. The Q2 2026 effective tax rate is not indicative of the Company's expected tax rate in future quarters. Liquidity and Capital Allocation Operating cash flow improved to a source of $17 million in Q2 2026 compared with a use of $33 million in Q1 2026, reflecting a $50 million sequential improvement despite operating losses. The improvement was primarily driven by favorable working capital actions, including lower inventory and accrual normalization. Strong working capital execution also enabled the Company to reduce debt during the quarter despite higher capital expenditures. Inventory remained well controlled as the Company balanced production requirements with market demand. Excluding the effects of foreign currency and tariffs, inventory decreased approximately $110 million from the prior year. Improvements in raw materials and finished goods inventory contributed to an eight-day reduction in days inventory outstanding. The Company continues to focus on inventory optimization and working capital efficiency as it prepares for anticipated increased production levels later in 2026. OutlookThe Company continues to believe the first half of 2026 marked the bottom of the current lift truck market cycle. Lower shipment volumes, higher tariff costs and an unfavorable product mix negatively impacted first-half results. However, bookings have increased for four consecutive quarters and second-quarter revenue, operating results and cash flow improved sequentially. These trends are expected to support improving performance through the remainder of 2026. The Company's updated outlook reflects current assumptions regarding tariffs, geopolitical developments and market conditions. Key tariff-related assumptions include: U.S. and international tariff policies and rates in effect as of July 2026 serve as the baseline; continued application of Section 232 tariffs on steel, aluminum, copper, and certain derivative products, including the April 2026 expansion that applies tariffs to the full customs value of covered products rather than only the underlying metal content; continued application of Section 301 tariffs on Chinese‑origin goods, including lift truck components, with current product‑specific exclusions scheduled to expire in November 2026; the temporary global import surcharge imposed under Section 122 of the Trade Act of 1974, which replaced tariffs previously imposed under the International Emergency Economic Powers Act ("IEEPA"), is assumed to remain in effect through its statutory expiration; given uncertainty regarding any successor trade measures, no benefit or incremental cost from potential replacement actions has been assumed; demand forecasts based on available market data and booking trends; and the successful execution of the Company's tariff mitigation initiatives, including pricing actions, sourcing adjustments, product-cost reductions, and other cost-management programs. Operational Initiatives and Cost‑Reduction Programs Cost-reduction initiatives launched in 2025 continue to progress as planned. The Company's 2025 restructuring program began generating benefits with approximately half of the expected annualized $40 million to $45 million cost reductions recognized in the first six months of 2026. Manufacturing footprint optimization projects also remain on track. The Company expects future costs and benefits for the projects as shown below: Expected savings in 2027 have been revised to reflect lower anticipated production volumes. Once fully implemented and production volumes increase, these actions are expected to generate annualized benefits beginning in 2028. Together, these actions are expected to lower the Company's cost structure, improve operating leverage, and strengthen financial resilience across the business cycle. Lift Truck BusinessIndustry conditions in the lift truck market generally improved during Q2 2026, although demand varied by region and customer application. The Company gained market share primarily through its expanded product portfolio and increasing customer acceptance of its value and standard product offerings. Lift Truck bookings and backlog were as follows: Bookings increased 17% from the first quarter and more than doubled from the prior year, marking the fourth consecutive quarter of growth and the strongest booking quarter in three years. Growth was driven primarily by the Americas. Backlog increased to approximately $1.6 billion and approached five months of production as bookings exceeded shipments during the quarter. The Company expects bookings in 2026 to exceed 2025, supported by healthier industry conditions, market share gains, and broader customer acceptance of its expanded product portfolio. Investments made over the past several years to broaden the product lineup have positioned the Company to address increasing demand for lower-intensity applications and compete across a larger portion of the lift truck market. The Company's standard and value offerings in the 1-3.5 ton, 4-9 ton and Big Truck product lines continue to support volume growth, profitability, and market share gains. However, inflation, tariffs, geopolitical uncertainty, and increased competition continue to affect customer purchasing patterns across regions and end markets. The improvement in bookings has begun to benefit shipments, with a meaningful impact on production and revenue expected to occur by the end 2026. Customer delivery schedules have shifted, resulting in a greater portion of expected shipment growth occurring later in the year. The Company is implementing sourcing and production changes in response to new Section 232 tariffs, including shifting certain sourcing and production activities into the U.S. These actions are expected to reduce tariff costs over time but are delaying a portion of shipment growth while implementation is completed. As a result, production growth is expected to temporarily lag booking growth in the near term despite strong demand. Tariff-related costs on steel, components, and other imported materials remain elevated. Pricing, sourcing, and product-cost actions are expected to provide increasing benefit in the second half of 2026, although the Company does not currently expect to offset all tariff-related expenses. Gross margins are expected to improve gradually from Q2 2026 levels as production volumes increase and pricing and sourcing actions offset a portion of recent tariff costs. The Company's newly introduced low-intensity trucks are expected to contribute favorably to margins while expanding the addressable market and increasing manufacturing scale. However, competitive pricing, particularly in South America and Europe, where competitors continue to compete aggressively with lower-priced value and standard products, is expected to limit the pace of margin improvement. As a result, the Company is maintaining a disciplined approach to balance market share growth and profitability. Lift truck operating results are expected to improve in the second half of 2026 as shipment volumes increase and production levels rise. Improved manufacturing efficiency, pricing actions, and cost reduction initiatives are expected to support earnings growth. Customer delivery timing, production transitions related to tariff mitigation actions, and competitive pricing are expected to moderate the pace of recovery. The largest improvement is expected as shipment volumes increase later in the year. Bolzoni GroupBolzoni is expected to achieve a modest improvement in operating profit in 2026 despite slightly lower revenue. Revenue is expected to decline modestly due to the planned phase-out of certain legacy component sales to the Lift Truck business. However, a continued shift toward higher-margin attachment products and improved plant utilization are expected to support margin expansion and improved profitability. Management remains focused on optimizing product mix and maintaining operational discipline across its global operations. ConsolidatedThe Company expects to have a moderate operating loss for full-year 2026. While improved demand and higher bookings are expected to support increased shipments and revenue, customer delivery schedules and sourcing transitions have delayed the timing of the recovery. The strongest improvement in operating results is expected in the latter part of 2026. The financial discipline established over the past several years continues to strengthen the Company's ability to navigate changing market conditions while progressing toward its long-term objective of achieving approximately 7% operating profit over the business cycle. Management believes higher production volumes, improved manufacturing efficiency, modular product platforms, and portfolio expansion into value and standard segments remain key drivers supporting achievement of this objective. The Company remains focused on working capital efficiency and cash generation. Working capital initiatives contributed to positive operating cash flow in the second quarter, and management intends to maintain the inventory discipline established during the downturn as production increases. The Company continues to target working capital of approximately 15% of revenue over time. The Company remains committed to strategic investments that support long-term growth and transformation, including modular product development, manufacturing capabilities, and information technology. Capital expenditures for 2026 are expected to range from $50 million to $60 million, with spending dependent on production requirements and the timing of approved projects. Management believes its continued focus on financial discipline, working capital efficiency, and prudent capital allocation positions the Company to improve financial performance while maintaining the flexibility to support future growth. Long-Term ObjectivesHyster-Yale's vision is to transform the way the world moves materials from Port to Home. It strives to do this through its two customer promises: first, to provide optimal customer solutions, and second, to provide exceptional customer care. The Company is focused on executing established strategic initiatives and key projects to transform the Company's core lift truck business while building new business opportunities in the warehouse lift truck, vehicle automation, energy management and attachment business activities. These complementary growth and profit improvement projects should help the Company fulfill these two promises while achieving long-term revenue and operating profit growth. The Company believes key projects will contribute to an increased and sustainable lift truck and attachment competitive advantage over time. Further information regarding the Company's strategic initiatives can be found in the Company's Q2 2026 Investor Deck. This presentation, currently available on the Hyster-Yale website, elaborates on the strategies that are critical for Hyster-Yale's long-term prospects. The Company encourages investors to review this material as a supplement to understand Hyster-Yale's future direction. ***** Conference CallThe management of Hyster-Yale, Inc. will conduct a conference call with investors and analysts on Wednesday, August 5, 2026, at 11:00 a.m. Eastern Time to discuss the financial results. The conference call will be broadcast and can be accessed through Hyster-Yale's website at https://ir.hyster-yale.com/events-and-presentations. Please allow 15 minutes to register, download and install any necessary audio software required to listen to the webcast. An archive of the webcast will be available on the Company's website two hours after the live call ends. Reconciliations and Other MeasuresThe Company uses certain financial measures not in accordance with U.S. generally accepted accounting principles ("GAAP") to analyze and manage the performance of the Company. These include, Adjusted Operating Profit (Loss), Adjusted Net Income (Loss), Adjusted Diluted Earnings (Loss) per Share, Adjusted EBITDA, Net Debt and the ratio of Net Debt to Adjusted EBITDA. Adjusted Operating Profit (Loss), Adjusted Net Income (Loss) and Adjusted Diluted Earnings (Loss) per Share exclude restructuring and impairment charges, referred to in the release as "manufacturing footprint optimization", Nuvera's strategic realignment and the 2025 restructuring program, from the comparable GAAP measurement. Management believes that these adjusted measures provide investors with a useful perspective on underlying business results and trends and help with assessing period-over-period results. Reconciliations of adjusted results to the most directly comparable GAAP measures are included in the financial highlights. Adjusted EBITDA, Net Debt and the ratio of Net Debt to Adjusted EBITDA are provided as supplemental measures. Adjusted EBITDA is defined as income (loss) before income taxes and noncontrolling interests plus restructuring and impairment charges, referred to in the release as manufacturing footprint optimization charges and Nuvera's strategic realignment, net interest expense and depreciation and amortization expense. Net Debt is defined as debt less cash. These measures are not GAAP measurements and should not be considered as substitutes for operating profit (loss), net income (loss) or debt. Management believes that these measures help investors understand the Company's results of operations. For purposes of this release, discussions about net income (loss) refer to net income (loss) attributable to stockholders. Forward-looking Statements DisclaimerThe statements contained in this news release that are not historical facts are "forward-looking statements." These forward-looking statements are made subject to certain risks and uncertainties, which could cause actual results to differ materially from those presented. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. The Company undertakes no obligation to publicly revise these forward-looking statements to reflect events or circumstances that arise after the date hereof. Among the factors that could cause plans, actions and results to differ materially from current expectations are, without limitation: (1) delays in delivery and other supply chain disruptions, or increases in costs as a result of inflation or otherwise, including materials, critical components and transportation costs and shortages, the effects of tariffs on raw materials or sourced products, and labor, or changes in or unavailability of quality suppliers or transporters, including the impacts of the foregoing risks on the Company's liquidity, (2) impacts resulting from sustained or increased trade barriers and restrictions on international trade, including as a result of previously announced, and potentially new, changes to U.S. trade policy and tariffs as well as retaliatory or other tariffs imposed by other countries where the Company does business, (3) the Company's ability to recover previously paid IEEPA tariffs, (4) delays in manufacturing and delivery schedules, (5) reduction in demand for lift trucks, attachments and related parts and service on a global basis, including any cyclical reduction in demand in the lift truck industry, (6) customer acceptance of pricing, (7) customer acceptance of, changes in the costs of, or delays in the development of new products, (8) the ability of Hyster-Yale and its dealers, suppliers and end-users to access credit, or obtain financing at reasonable rates, or at all, as a result of interest rate volatility and current economic and market conditions, including inflation, (9) unfavorable effects of geopolitical and legislative developments on global operations, including without limitation the entry into new trade agreements and the imposition of tariffs and/or economic sanctions, including the Uyghur Forced Labor Prevention Act (the "UFLPA") which could impact Hyster-Yale's imports from China, as well as armed conflicts, including the Iran conflict, the Russia/Ukraine conflict, the Israel and Gaza conflict and/or the conflict in the Red Sea, and their regional effects, (10) exchange rate fluctuations, interest rate volatility and monetary policies and other changes in the regulatory climate in the countries in which the Company operates and/or sells products, (11) the effectiveness of the cost reduction programs implemented globally, including the successful implementation of procurement and sourcing initiatives and restructuring programs, (12) the successful commercialization of products and technology related to the energy solutions program, (13) political and economic uncertainties in the countries where the Company does business, as well as the effects of any withdrawals from such countries, (14) bankruptcy of or loss of major dealers, retail customers or suppliers, (15) introduction of new products by, more favorable product pricing offered by or shorter lead times available through competitors, (16) product liability or other litigation, warranty claims or returns of products, (17) changes mandated by federal, state and other regulation, including tax, health, safety or environmental legislation, (18) the ability to attract, retain, and replace workforce and administrative employees, (19) disruptions resulting from natural disasters, public health crises, political crises or other catastrophic events, and (20) the ability to protect the Company's information technology infrastructure against service interruptions, data corruption, cyber-based attacks or network breaches. About Hyster-Yale, Inc.Hyster-Yale, Inc., headquartered in Cleveland, Ohio, is a globally integrated company offering a full line of lift trucks and solutions, including attachments aimed at meeting the specific materials handling needs of its customers. Hyster-Yale's vision is to transform the way the world moves materials from Port to Home and deliver on its customer promises of: (1) thoroughly understanding customer applications and offering optimal solutions that will improve productivity at the lowest cost of ownership, and (2) providing exceptional customer care to create increasing value from initial engagement through the product lifecycle. The Company's wholly owned operating subsidiary, Hyster-Yale Materials Handling, Inc., designs, engineers, manufactures, sells and services a comprehensive line of lift trucks, parts and technology and energy solutions marketed globally primarily under the Hyster®, Yale®, Nuvera® and Maximal® brand names. Hyster-Yale Materials Handling's subsidiary, Bolzoni S.p.A., is a leading worldwide producer of attachments, forks and lift tables marketed under the Bolzoni®, Auramo® and Meyer® brand names. Hyster-Yale Materials Handling also has an unconsolidated joint venture in Japan with Sumitomo NACCO Forklift Co. Ltd. Hyster-Yale Materials Handling, Inc., is a wholly owned subsidiary of Hyster-Yale, Inc. (NYSE: HY). For more information about Hyster-Yale and its subsidiaries, visit the Company's website at www.hyster-yale.com. ***** View original content to download multimedia:https://www.prnewswire.com/news-releases/hyster-yale-announces-second-quarter-2026-results-302842994.html

Lift truck and material handling solutions manufacturer Hyster-Yale Materials Handling (NYSE:HY) will be reporting results this Tuesday after the bell. Here’s what to look for. Hyster-Yale Materials Handling missed analysts’ revenue expectations last quarter, reporting revenues of $795.2 million, down 12.7% year on year. It was a slower quarter for the company, with a beat of analysts’ EPS estimates. Is Hyster-Yale Materials Handling a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members. This quarter, the market is expecting Hyster-Yale Materials Handling’s revenue to decline 15.9% year on year, improving from the 18.1% decrease it recorded in the same quarter last year. Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business will stay the course heading into earnings. Hyster-Yale Materials Handling has missed Wall Street’s revenue estimates multiple times over the last two years. Looking at Hyster-Yale Materials Handling’s peers in the professional tools and equipment segment, some have already reported their Q2 results, giving us a hint as to what we can expect. Stanley Black & Decker posted flat year-on-year revenue, meeting analysts’ expectations, and Fortive reported revenues up 7.9%, topping estimates by 2.5%. Stanley Black & Decker traded up 1.4% following the results while Fortive was down 8.8%. Read our full analysis of Stanley Black & Decker’s results here and Fortive’s results here. Over the past year, investors have repeatedly shifted their focus from one macro narrative to another (AI disruption and AI capex spending to geopolitics, interest rates, and the broader health of the economy). While some of the professional tools and equipment stocks have shown solid performance in this choppy environment, the group has generally underperformed, with share prices down 5% on average over the last month. Hyster-Yale Materials Handling’s stock price was unchanged during the same time and is heading into earnings with an average analyst price target of $46 (compared to the current share price of $32.83). ALSO WORTH WATCHING: Nvidia’s Quiet Partner. Nvidia’s chips cost a hundred grand. The connectors that make them work cost even more. One company makes them all. Every AI server needs specialized infrastructure the chip companies don’t make. High-speed cables. Power connectors. Thermal sensors. This 90-year-old company built a monopoly on it. The AI boom just started. This stock is still flying under the radar. Claim The Stock Ticker Here for FREE.

Terex (TEX) came out with quarterly earnings of $1.37 per share, beating the Zacks Consensus Estimate of $1.25 per share. This compares to earnings of $1.49 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of +9.60%. A quarter ago, it was expected that this machinery products maker would post earnings of $0.78 per share when it actually produced earnings of $0.98, delivering a surprise of +25.64%. Over the last four quarters, the company has surpassed consensus EPS estimates three times. Terex, which belongs to the Zacks Manufacturing - Construction and Mining industry, posted revenues of $2.24 billion for the quarter ended June 2026, surpassing the Zacks Consensus Estimate by 4.74%. This compares to year-ago revenues of $1.49 billion. The company has topped consensus revenue estimates two times over the last four quarters. The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call. Terex shares have added about 20.9% since the beginning of the year versus the S&P 500's gain of 6.9%. While Terex has outperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock? There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately. Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions. Ahead of this earnings release, the estimate revisions trend for Terex was mixed. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #3 (Hold) for the stock. So, the shares are expected to perform in line with the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here. It will be interesting to see how estimates for the coming quarters and the current fiscal year change in the days ahead. The current consensus EPS estimate is $1.44 on $2.07 billion in revenues for the coming quarter and $4.85 on $7.92 billion in revenues for the current fiscal year. Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Manufacturing - Construction and Mining is currently in the bottom 30% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1. Another stock from the same industry, Hyster-Yale (HY), has yet to report results for the quarter ended June 2026. The results are expected to be released on August 4. This maker of lift trucks and aftermarket parts is expected to post quarterly loss of $2.05 per share in its upcoming report, which represents a year-over-year change of -1364.3%. The consensus EPS estimate for the quarter has remained unchanged over the last 30 days. Hyster-Yale's revenues are expected to be $804.62 million, down 15.9% from the year-ago quarter. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Terex Corporation (TEX) : Free Stock Analysis Report Hyster-Yale, Inc. (HY) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research