HYSTER-YALE, INC. (HY): Results of Operations and Financial Condition
HYSTER-YALE, INC. (HY) filed an SEC Form 8-K — Results of Operations and Financial Condition. EXHIBIT 99 Hyster-Yale, Inc. (in millions of $, except percentage data) Revenues - Consolidated Revenues - Consolidated - % change yr. over yr. Q1 Q2 Q3 Q4 FY Q1 Q2 Q3 Q4 FY 2022 827.6 895.4 840.1 985.2 3,548.3 2022 13.0 % 17.0 % 12.3 % 18.7 % 15.4 % 2023 999.3 1,090.6 1,001.2 1,
How this was made
The 30-second read
Why it matters
The newest disclosed fact is the 2026 quarterly results snapshot (revenues, gross profit, operating profit/loss, net income/loss, and working capital), which can drive immediate earnings-power repricing.
Market read
This is a company-specific financial results disclosure that updates the trajectory of revenue and profitability into 2026, which can affect valuation and near-term positioning.
What to watch
Traders should focus on gross profit margin trend and net working capital changes, not just revenue, because working capital and financing costs can drive equity and cash-flow expectations.
Q2 2026 revenue declined year over year, while the company reported operating and net losses.
Consolidated revenue declined 15.0% year over year to $812.9 million, gross profit declined to $127.6 million, and the company reported an operating loss of $(18.4) million and net loss attributable to stockholders of $(31.6) million.
Key metrics
as reported| Metric | Value | q/q | y/y |
|---|---|---|---|
| Revenues - Consolidatedother | $812.9 million | – | -15.0 % |
| Gross Profitother | $127.6 million | – | – |
| Gross Profit %other | 15.7 % | – | – |
| Operating Expenses (6)(7)other | $146.0 million | – | – |
| Operating Expenses as a % of Revenue (6)(7)other | 18.0 % | – | – |
| Restructuring & Impairment Charges (6)(7)(8)(9)(10)(11)(12)(13)(14)other | $1.7 million | – | – |
| Operating Profit (Loss) (6)other | $(18.4) million | – | – |
| Operating Profit (Loss) % (6)other | -2.3 % | – | – |
| Interest (Income) Expenseother | $5.7 million | – | – |
| Income (Loss) Before Taxesother | $(23.2) million | – | – |
| Effective Income Tax Rate (15)other | -34.9 % | – | – |
| Net Income (Loss) Attributable to Stockholdersother | $(31.6) million | – | – |
| Depreciation and Amortization Expenseother | $10.9 million | – | – |
| Net Working Capital (1)other | $688.9 million | – | – |
| Net Working Capital as % of Revenue (2)other | 21.2 % | – | – |
| Capital Expendituresother | $14.7 million | – | – |
| Net Cash Provided By (Used For) Operating Activitiesother | $16.7 million | – | – |
| Net Cash Provided By (Used For) Investing Activitiesother | $(14.2) million | – | – |
| Cash Flow Before Financing Activities (3)other | $2.5 million | – | – |
| Net Cash Provided By (Used For) Financing Activitiesother | $(11.3) million | – | – |
| Dividends Paid to Stockholdersother | $6.6 million | – | – |
| Total Debtother | $500.0 million | – | – |
| Debt to Total Capitalization (4)other | 54.9 % | – | – |
| Total Equityother | $410.0 million | – | – |
| Return on Equity (5)other | -23.6 % | – | – |
| Actual Return on Total Capital Employednon-GAAP | $(78.0) million | – | – |
| Actual Return on Total Capital Employed Percentagenon-GAAP | (8.9)% | – | – |
Segments
| Segment | Revenue | q/q | y/y |
|---|---|---|---|
| AmericasNo segment revenue driver was provided in the filing text. | $596.2 million | – | -15.7 % |
| EMEANo segment revenue driver was provided in the filing text. | $118.2 million | – | -20.3 % |
| JAPICNo segment revenue driver was provided in the filing text. | $41.1 million | – | -15.1 % |
| Lift Truck BusinessNo segment revenue driver was provided in the filing text. | $755.5 million | – | -16.4 % |
Capital returns
- Dividends Paid to Stockholders: $6.6 million.
What drove it
- Consolidated revenues declined -15.0 % year over year to $812.9 million.
- Lift Truck Business revenues declined -16.4 % year over year to $755.5 million.
- Americas revenues declined -15.7 % year over year to $596.2 million.
- EMEA revenues declined -20.3 % year over year to $118.2 million.
- JAPIC revenues declined -15.1 % year over year to $41.1 million.
- Restructuring charges of $1.7 million were recognized in the Americas during the second quarter of 2026.
Concerns
- Gross Profit % was 15.7 %, compared with 17.6 % in the second quarter of 2025.
- Operating Profit (Loss) was $(18.4) million, compared with $(8.5) million in the second quarter of 2025.
- Net Income (Loss) Attributable to Stockholders was $(31.6) million, compared with $(13.9) million in the second quarter of 2025.
- Total Debt was $500.0 million and Debt to Total Capitalization was 54.9 %.
- Return on Equity (5) was -23.6 %.
- Actual Return on Total Capital Employed Percentage was (8.9)%.
What to watch
- Whether consolidated revenue moves from the reported -15.0 % year-over-year change.
- Whether Lift Truck Business revenue, reported at $755.5 million and down -16.4 % year over year, stabilizes.
- Whether Gross Profit % improves from 15.7 %.
- Whether operating results improve from the reported Operating Profit (Loss) of $(18.4) million.
- Net working capital, reported at $688.9 million and 21.2 % of revenue.
- Total Debt of $500.0 million and Debt to Total Capitalization of 54.9 %.
Balance sheet and cash flow
- Net Working Capital (1): $688.9 million.
- Net Working Capital as % of Revenue (2): 21.2 %.
- Total Debt: $500.0 million.
- Debt to Total Capitalization (4): 54.9 %.
- Total Equity: $410.0 million.
- Net Cash Provided By (Used For) Operating Activities: $16.7 million.
- Net Cash Provided By (Used For) Investing Activities: $(14.2) million.
- Cash Flow Before Financing Activities (3): $2.5 million.
- Net Cash Provided By (Used For) Financing Activities: $(11.3) million.
- Capital Expenditures: $14.7 million.
Analysis
Hyster-Yale reported a weak Q2 2026. Consolidated revenues were $812.9 million, down -15.0 % year over year from $956.6 million. Revenue was higher than the immediately preceding quarter's $795.2 million, but the filing did not report a quarter-over-quarter percentage change. The Lift Truck Business reported revenues of $755.5 million, down -16.4 % year over year.
The regional Lift Truck revenue data show declines across all reported regions. Americas revenues were $596.2 million, down -15.7 % year over year. EMEA revenues were $118.2 million, down -20.3 % year over year, while JAPIC revenues were $41.1 million, down -15.1 % year over year. The filing text did not provide narrative explanations for these segment revenue movements.
Profitability remained under pressure. Gross Profit was $127.6 million and Gross Profit % was 15.7 %, compared with $168.2 million and 17.6 % in the second quarter of 2025. Operating Expenses were $146.0 million, or 18.0 % of revenue. The company recorded an Operating Profit (Loss) of $(18.4) million and a Net Income (Loss) Attributable to Stockholders of $(31.6) million. Second-quarter restructuring charges were $1.7 million in the Americas.
Cash generation was positive but lower year over year. Net Cash Provided By Operating Activities was $16.7 million, compared with $28.9 million in the second quarter of 2025, and Cash Flow Before Financing Activities was $2.5 million. Capital expenditures were $14.7 million. Net working capital was $688.9 million, or 21.2 % of revenue.
The balance sheet metrics warrant attention. Total Debt was $500.0 million, compared with $473.2 million in the second quarter of 2025, while Debt to Total Capitalization was 54.9 %, compared with 46.5 %. Total Equity was $410.0 million. The company paid $6.6 million of dividends to stockholders. No forward guidance was included in the supplied filing text.
Not in the filing
stated, not guessed- Earnings per share, including GAAP and non-GAAP EPS.
- Cash and cash equivalents balance.
- Share repurchases or other capital-return amounts beyond dividends paid.
- Forward revenue, margin, operating-expense, tax-rate, or other guidance.
- Prior-outlook guidance for comparison.
- Management or CFO commentary and named executive quotes.
- Narrative drivers for consolidated and segment revenue, margin, and earnings changes.
- A complete segment disclosure set. The supplied filing text is truncated during Lift Truck Business operating-expense data and does not include further potential segment information.
- Free cash flow as a separately reported line item.
- Explicit GAAP designation for the reported income-statement and cash-flow measures.
AlphaAI analysis generated from the company’s SEC earnings filing (Form 8-K Item 2.02, or Form 6-K for a foreign private issuer). Every figure was cross-checked against the filing text; consensus estimates, price targets and share-price reactions are not shown because they are not in the filing. AI-generated research, not investment advice.
Background
SEC Form 8-K, Item 2.02, with Exhibit 99 presenting quarterly and full-year financial results and selected balance-sheet and cash-flow metrics.
Ticker impact
Hyster-Yale filed an 8-K with Q1-Q4 and FY operating results, including 2026 revenue declines and operating losses in 2026 quarters.
Near-term downside bias as traders reprice earnings power based on the disclosed quarterly revenue and operating loss trajectory.
The 8-K’s Exhibit 99 provides detailed quarterly revenue, gross profit, operating profit (loss), and net income (loss) for 2025 and 2026, indicating worsening margins and losses in 2026.
Market effects
Signals stress in industrial equipment demand and/or margin pressure for the broader material-handling and industrial components space.
No explicit regional breakdown beyond restructuring notes; limited direct read-through.
No global macro or cross-border deal/regulatory catalyst disclosed.
Counterpoint
The filing may reflect timing and restructuring effects rather than a structural demand collapse, since restructuring and impairment charges are separately disclosed.
Key entities
- public_companyHyster-Yale, Inc.
Subject issuer filing the 8-K with quarterly results and financial condition tables.
