Hyster-Yale Materials (HY) Misses Q4 EPS by 78c, Revenues Miss

Hyster-Yale Materials (NYSE: HY) reported Q4 EPS of $0.20, $0.78 worse than the analyst estimate of $0.98. Revenue for the quarter came in at $834.8 million versus the consensus estimate of $877.5 million.

Quarter Highlights:

• Consolidated revenues decreased modestly from Q4 2018 due to lower shipments caused by a moderating EMEA market, structural changes at the JAPIC operations and supplier issues
• Consolidated gross profit increased 15.8% over Q4 2018, driven by a 19.6% increase in Lift Truck gross profit
• Lift Truck gross profit margin increased to 16.3% from 13.7% in Q4 2018, with increases in all geographic segments due to cost recovery and pricing actions
• Consolidated operating profit increased to $8.1 million from a loss of $3.4 million in Q4 2018, but was reduced by an increase in product liability expense and investments to support strategic growth initiatives
• Q4 2019 consolidated net income increased to $3.4 million from a net loss of $1.2 million in Q4 2018

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

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