Hyster-Yale Q2 revenue up 7%, EPS $3.58, operating profit +63%; full-year outlook raised

HYSTER-YALE, INC.

2024-Q2 EPS reported $6.51 revenue$2,224,600,000

Q2 revenue $1,168.1M (+7% YoY); operating profit $95.6M (+63%); net income $63.3M (+65%); diluted EPS $3.58.
Lift Truck operating profit margin 9.2% (up 320 bps) on higher unit margins and favorable product mix.
Dollar-value lift truck factory bookings fell 44% YoY to $380M; backlog $2.56B (-29% YoY).
Full-year 2024 outlook improved due to strong Q2; expects H2 revenue growth but operating profit to moderate slightly.
Debt-to-capital ratio improved to 51% from 53% at March 31, 2024; inventory down 4% YoY; $217M unused borrowing capacity.

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