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Hyster-Yale (HY) investor relations material
Hyster-Yale Q3 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Bookings rose 45% YoY to $550M, marking a fourth consecutive quarter of elevated bookings since the Q2 2025 cyclical low; revenue increased 2% QoQ as bookings began converting to shipments.
Q3 revenue was $827.4M, down 15.5% YoY; lower volume and lighter, lower-priced mix pressured results.
Operating loss narrowed to $9.1M from $18.4M in Q2, and Adjusted EBITDA returned to positive at $6.0M.
New programs target at least $100M in annual cost savings at maturity in 2029, alongside portfolio, footprint and organizational changes.
Financial highlights
Q3 operating loss was $9.1M versus $2.3M operating profit a year earlier; net loss was $14.9M, or $0.83 per diluted share.
Adjusted operating loss was $7.6M, versus $16.7M in Q2 and adjusted operating profit of $3.3M in Q3 2025; adjusted net loss was $13.8M.
Q3 gross profit was $124.1M versus $155.9M YoY; 9M revenue declined 14.4% to $2,435.5M and 9M net loss was $77.0M.
Q3 operating cash flow was $26.3M, up $10M QoQ; 9M operating cash flow was $10.1M, and cash at September-end was $58.5M.
Outlook and guidance
Q4 bookings are expected to exceed Q4 2025 and Q3 2026; higher production and shipments are expected to lift revenue, gross profit and manufacturing efficiency.
Q4 adjusted net income is expected to return to positive levels and be significantly higher than Q3, excluding implementation costs; Lift Truck adjusted operating results are expected to be positive.
Q4 gross profit and margin are expected to improve sequentially; tariff-related costs are expected to remain elevated, partly offset by pricing, sourcing and cost actions.
2027 demand and production are expected to remain healthy, supporting volume and revenue growth, while competition and cost pressures may moderate profit improvement.
2024 U.S. footprint projects are on track to provide $15M–$20M in 2027 benefits and $30M–$40M annualized by 2028; 2025 restructuring is expected to deliver $40M–$45M by year-end 2026.
- Higher volume and pricing lifted FY13 profit; 2014 improvement depends on H2 growth.HY
Q4 2013 - Higher 2012 profit despite lower revenue; 2013 profit expected to ease.HY
Q4 2012 - Revenue grew, but underlying lift-truck profit faces 2015 transition costs and Nuvera investment.HY
Q4 2014 - Sales growth is expected in 2016, but currency, mix and expenses point to lower profit.HY
Q4 2015 - Profit fell sharply in 2016; lift-truck growth and recovery are expected in 2017.HY
Q4 2016 - Higher lift-truck volumes drove a profit rebound, with FY18 growth expected despite cost pressure.HY
Q4 2017 - Sales and backlog grew, but inflation-driven costs cut profit; H2 2019 recovery was expected.HY
Q4 2018 - Profit rose despite softer markets as multi-year investments target stronger margins.HY
Q4 2019 - Cost controls cushioned pandemic-driven declines; late-year bookings strengthened the path into 2021.HY
Q4 2020
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