/PRNewswire/ Hyster-Yale Materials Handling, Inc. (NYSE: HY) today announced that the Board of Directors increased its regular cash dividend from 31.75.
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CLEVELAND, May 11, 2021 /PRNewswire/ Hyster-Yale Materials Handling, Inc. (NYSE:HY) announced today that it will host its 2021 Investor Day event for institutional investors and equity analysts virtually on Tuesday, May 25
th. The meeting, hosted by Chairman and Chief Executive Officer, Alfred M. Rankin, Jr., and President, Rajiv K. Prasad, will feature presentations by members of Hyster-Yale Materials Handling s senior management team, and will provide information on the Company s strategic roadmap to deliver long-term shareholder value, including capital allocation strategy and expectations for future financial performance.
The presentation will begin at 10:00 am Eastern Time, to be immediately followed by a live question and answer session, with the presenters, utilizing the chat functionality within the broadcasting system. To access and register for this event, please click on the following link: https://event.on24.com/wcc/r/310
Operator
Ladies and gentlemen, thank you for standing by, and welcome to the Hyster-Yale Q1 2021 Earnings Conference Call. At this time, all participants are in a listen-only mode. After the speakers presentation, there will be a question-and-answer session. [Operator Instructions] Please be advised that today s conference is being recorded.
I would now like to hand the conference over to your speaker today, Ms. Christina Kmetko. Please go ahead.
Christina Kmetko
Investor Relations
Thank you. Good morning, everyone, and welcome to our 2021 first quarter earnings call. I am Christina Kmetko, and I m responsible for Investor Relations at Hyster-Yale. Thank you for joining us this morning.
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ResearchAndMarkets.com s offering.
In this report, the market has been segmented based on type, application, industry, navigation technology, battery type and geography.
The report provides an overview of the global market for AGVs and analyzes market trends. Using 2019 as the base year, the report provides estimated market data for the forecast period from 2020 through 2025. Revenue forecasts for this period are based on type, application, industry and geography. Market values have been estimated based on the total revenues of the AGV manufacturers.
The report covers the market for AGVs with regards to their applications and types across different regions. It also focuses on the major trends and challenges that affect the market and the vendor landscape.
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