Hyster-Yale Materials (HY) Tops Q2 EPS by 71c

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Go back to Hyster-Yale Materials (HY) Tops Q2 EPS by 71c

HYSTER-YALE MATERIALS HANDLING ANNOUNCES SECOND QUARTER 2022 RESULTS

August 2, 2022 4:55 PM EDT

Highlights: 

Q2 2022 consolidated revenues increased 17.0% over Q2 2021 due to an 11.5% increase in shipments, primarily as a result of a 32.2% increase in EMEA lift truck shipmentsQ2 2022 consolidated and Lift Truck gross margins improved from the historically low Q4 2021 levels, but, as expected, decreased modestly compared with Q1 2022 gross margins due to additional commodity inflation resulting from the Russia/Ukraine conflict and adverse product mixQ2 2022 consolidated results were better than expected, but remained unprofitable with an operating loss of $15.7 million and a net loss of $19.4 million due to material and freight... More