Hyster-Yale Materials Handling, Inc. Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2023
October 31, 2023 at 08:49 pm
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Hyster-Yale Materials Handling, Inc. reported earnings results for the third quarter and nine months ended September 30, 2023. For the third quarter, the company reported sales was USD 1,001.2 million compared to USD 840.1 million a year ago. Net income was USD 35.8 million compared to net loss of USD 37.3 million a year ago. Basic earnings per share from continuing operations was USD 2.08 compared to basic loss per share from continuing operations of USD 2.2 a year ago. Diluted earnings per share from continuing operations was USD 2.06 compared to diluted loss per share from continuing operations of USD 2.2 a year ago.
For the nine months, sales was USD 3,091.1 million compared to USD 2,563.1 million a year ago. Net income was USD 100.7 million compared to net loss of USD 81.7 million a year ago. Basic earnings per share from continuing operations was USD 5.88 compared to basic loss per share from continuing operations of USD 4.84 a year ago. Diluted earnings per share from continuing operations was USD 5.82 compared to diluted loss per share from continuing operations of USD 4.84 a year ago.
Hyster-Yale, Inc., formerly Hyster-Yale Materials Handling, Inc., through its wholly owned operating subsidiary, Hyster-Yale Materials Handling, designs, engineers, manufactures, sells, and services a comprehensive line of lift trucks, attachments, aftermarket parts and technology solutions marketed globally primarily under the Hyster and Yale brand names. The Company's business segments include Lift Trucks, Attachments and Fuel Cells. The Hyster-Yale Maximal brand provides trucks for customers requiring fundamental lift truck performance. The Lift Truck segment is focused on fuel cell-powered battery box replacements and integrated fuel cell engine solutions. Hyster- Yaleâs attachment subsidiary, Bolzoni S.p.A., is a producer of attachments, forks, and lift tables under the Bolzoni, Auramo and Meyer brand names. The Fuel Cell business, Nuvera Fuel Cells, is an alternative-power technology company focused on fuel cell stacks and engines.