Hyster-Yale Q3 net income $17.2M, down 52% YoY; expects 2025 profit to decline significantly

HYSTER-YALE, INC.

2024-Q3 EPS reported $7.47 revenue$3,240,700,000

Revenue $1,016.1M up 2% YoY; operating profit $33.1M down 44%; net income $17.2M down 52% from $35.8M; diluted EPS $0.97 vs $2.06.
Lift Truck op profit $39.0M down 40%; Americas $52.7M down 19%; EMEA loss $9.6M vs profit $2.4M; JAPIC loss $4.1M.
Bolzoni revenue $97.6M up 5%; op profit $6.2M up 114%; Nuvera revenue $0.3M down 80%; op loss $11.8M vs $9.4M.
Net debt $392.9M, down 10% from Q2; debt-to-capital 46% improved 500 bps; generated $70M cash from operations.
Outlook: Q4 revenues and net income roughly comparable YoY; expects 2025 revenue may be lower, op profit and net income to decline significantly vs 2024.

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