Hyster-Yale Materials (HY) Reports Q3 Loss Per Share of $4.59

Hyster-Yale Materials (NYSE: HY) reported Q3 EPS of ($4.59), may not compare to analyst estimate of ($0.43). Revenue for the quarter came in at $748.2 million versus the consensus estimate of $717.9 million.

Consolidated Outlook

Given the extensive component shortages due to supply chain constraints, significant material and freight cost inflation, as well as continued losses at Nuvera, the Company, on a consolidated basis, expects significant operating and net losses for the 2021 fourth quarter and in the first half of 2022. Consolidated results are expected to return to an operating profit in the second half of 2022 assuming reasonable resolution of component shortages and relative stabilization of material and freight costs. The Company also expects to have moderately reduced losses at Nuvera as a result of enhanced fuel cell shipments.

While the Company expects to make additional investments in the business during the fourth quarter of 2021, and in 2022, maintaining liquidity will continue to be a priority. Capital expenditures in the fourth quarter of 2021 are expected to be approximately $22 million.

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

You May Also Be Interested In

• Tesla plans 'flying' Roadster stunt at SpaceX Texas site as early as August
• Hyster deploys battery electric ReachStacker at Dutch inland terminal
• Pro Diversity Network (IPDN) Reports Q2 Loss of $0.15