Tue, Feb 25, 9:47 PM (61 days ago)
Hyster-Yale, Inc. (HY) reported 2024 revenues of $4,308.2 million versus $4,118.3 million in 2023, driven by improved pricing and higher sales in the Americas despite lower volumes. Operating profit increased 17.3% to $244.8 million, partly offset by $22.6 million in restructuring charges, while net income rose to $142.3 million, with diluted EPS reaching $8.04 compared to $7.24 last year. The company continues strategic initiatives to streamline its manufacturing footprint, reduce costs, and enhance operational efficiency. Regional performance varied: the Americas outperformed, whereas EMEA and JAPIC faced margin pressures amid higher material and freight costs. Key risks include supply chain disruptions, currency fluctuations, and evolving geopolitical and regulatory challenges. Liquidity remains robust with ample credit facilities, and planned capital expenditures for 2025 range from $40–80 million to support long-term growth. Overall, HY is focused on sustainable margin improvements, strategic investments—including advancements in fuel cell and digital technologies—and reinforcing its global market position.