Quarter Highlights:
Significant increases in unit shipments in EMEA and JAPIC over Q1 2020 were more than offset by a substantial decrease in unit shipments in the Americas due to significant supply chain constraints resulting from the pace of the economic recovery
Q1 2021 consolidated revenues decreased 6.8% from very strong Q1 2020 revenues due to lower shipments in the Americas
Q1 2021 consolidated operating profit decreased to $3.1 million from $20.2 million in Q1 2020, driven by lower unit volumes, as well as higher manufacturing variances and material and freight costs of $5.2 million and $4.9 million, respectively, partly offset by lower operating expenses despite the add back of $9.0 million of incentive compensation that was suspended in 2020
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CLEVELAND, April 27, 2021 /PRNewswire/ Hyster-Yale Materials Handling, Inc. (NYSE:HY) will release its 2021 First Quarter financial results and will file its 2021 First Quarter 10-Q after the close of the market on Tuesday, May 4, 2021.
In conjunction with this release, the Company will host a conference call at 11:00 a.m. Eastern Time on Wednesday, May 5, 2021 to discuss its results for the 2021 first quarter.
To register for this conference call, please use the following link: http://www.directeventreg.com/registration/event/8861383. After registering, a confirmation will be sent via email, including dial-in details and unique conference call access codes required for call entry. Registration is open throughout the live call. To ensure you are connected prior to the beginning of the call, the Company suggests registering a day in advance or a minimum of 15 minutes before the start of the call.
Global Forklift Truck Market: Factors Impacting Growth
As per this report, the global forklift truck market is witnessing a robust growth due to their ever growing popularity in several end-use industries, specifically e-commerce and construction. In the realm of e-commerce sector, where there are a diverse set of products ranging from books to cosmetics are stored in warehouse and various fulfillment centers need to be efficiently handled and the operations have to be fast since time is at a premium in such situations.
This is due to the fact that e-commerce companies, in order to retain and grow their customer base, promise free delivery of products in a stipulated duration of time and also promise hassle free returns and exchange facilities.
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CLEVELAND, March 17, 2021 /PRNewswire/ Hyster-Yale Materials Handling, Inc. (NYSE: HY) issued the following statement from its Board of Directors.
The Company is focused on creating value for all of its stockholders and evaluates all ideas that have the potential to help achieve this goal. While it is Company policy not to comment on individual communications, the Company s Board of Directors and management team are always looking at ways to maximize the value for all stockholders and will continue to do so.
About Hyster-Yale Materials Handling
Hyster-Yale Materials Handling, Inc., headquartered in Cleveland, Ohio, offers a broad array of solutions to meet the specific materials handling needs of customers applications. The Company s wholly owned operating subsidiary, Hyster-Yale Group, Inc., designs, engineers, manufactures, sells and services a comprehensive line of lift trucks and aftermarket parts marketed globally primarily under t
Quarter Highlights:
Q4 2020 consolidated revenues decreased 13.8% from Q4 2019 due to lower shipments resulting from the continuing effects of very low bookings during the peak period of the global pandemic shutdowns, as well as the pace of the subsequent forklift truck market recovery
Q4 2020 consolidated operating profit increased to $13.7 million from $8.1 million in Q4 2019, driven by an 18.9% decrease in operating expenses primarily due to cost containment actions taken to mitigate the impact of the COVID-19 pandemic, partly offset by a 13.8% decrease in gross profit mainly as a result of lower unit shipment volumes
Q4 2020 net income of $13.1 million, or $0.78 per share, increased from $3.4 million, or $0.20 per share in Q4 2019, and improved from Q3 2020 net income of $5.1 million, or $0.30 per share