Hyster-Yale Materials (HY) Misses Q3 EPS by 4c, Revenues Miss

Hyster-Yale Materials (NYSE: HY) reported Q3 EPS of $0.76, $0.04 worse than the analyst estimate of $0.80. Revenue for the quarter came in at $766 million versus the consensus estimate of $857.9 million.

Quarter Highlights:

• Q3 2019 consolidated operating profit increased to $19.5 million from $12.2 million in Q3 2018 driven by a 44% increase in Lift Truck operating profit primarily from tariff recoveries in the Americas and improved JAPIC results
• Q3 2019 revenue decreased 2.3% from Q3 2018 due to lower shipments primarily caused by supplier issues
• Q3 2019 tax expense vs. Q3 2018 substantial tax benefit from U.S. tax reform resulted in decline in net income, and decrease in earnings per share to $0.76/ share from $0.93/ share in Q3 2018

For earnings history and earnings-related data on Hyster-Yale Materials (HY) click here.

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