Hyster-Yale Materials (HY) Reports Q4 EPS of $0.78, Revenues Beat
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Hyster-Yale Materials Handling Announces Fourth Quarter And Full Year 2020 Results
February 24, 2021 5:05 PM ESTCLEVELAND, Feb. 24, 2021 /PRNewswire/ --Â
Quarter Highlights:
Q4 2020 consolidated revenues decreased 13.8% from Q4 2019 due to lower shipments resulting from the continuing effects of very low bookings during the peak period of the global pandemic shutdowns, as well as the pace of the subsequent forklift truck market recovery Q4 2020 consolidated operating profit increased to $13.7 million from $8.1 million in Q4 2019, driven by an 18.9% decrease in operating expenses primarily due to cost containment actions taken to mitigate the impact of the COVID-19 pandemic, partly offset by a 13.8% decrease in gross... More