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Hyster-Yale Materials Handling Inc (HY)
NYSE:HY
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Hyster-Yale Materials Handling
(NYSE:HY)
64Neutral
Hyster-Yale Materials Handling (HY) vs. S&P 500 (SPY)
Market Cap
$793.02M
Dividend Yield3.12%
Average Volume (3M)83.92K
Price to Earnings (P/E)5.6
Beta (1Y)1.24
Revenue Growth4.61%
EPS Growth11.15%
CountryUS
Employees8,500
SectorIndustrials
Sector Strength67
IndustryIndustrial Machinery
Share Statistics
EPS (TTM)8.06
Shares Outstanding14,242,713
10 Day Avg. Volume76,307
30 Day Avg. Volume83,925
Financial Highlights & Ratios
PEG Ratio0.50
Price to Book (P/B)N/A
Price to Sales (P/S)0.18
Price to Cash Flow (P/CF)2.40
P/FCF Ratio3.00
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
$75.00Price Target Upside68.69% Upside
Rating ConsensusHold
Number of Analyst Covering1
Hyster-Yale Materials Handling Business Overview & Revenue Model
Company DescriptionHyster-Yale Materials Handling, Inc., through its subsidiaries, designs, engineers, manufactures, sells, and services a line of lift trucks, attachments, and aftermarket parts worldwide. It manufactures components, such as frames, masts, and transmissions; and assembles lift trucks. The company markets its products primarily under the Hyster and Yale brand names to independent Hyster and Yale retail dealerships. It also sells aftermarket parts under the Hyster and Yale, as well as UNISOURCE and PREMIER brands to Hyster and Yale dealers for the service of competitor lift trucks. In addition, the company produces and distributes attachments, forks, and lift tables under the Bolzoni, Auramo, and Meyer brand names; and designs and produces products in the port equipment and rough terrain forklift markets. Further, it designs, manufactures, and sells hydrogen fuel-cell stacks and engines. The company serves light and heavy manufacturers, trucking and automotive companies, rental companies, building materials and paper suppliers, lumber, metal products, warehouses, retailers, food distributors, container handling companies, and U.S. and non-U.S. governmental agencies. Hyster-Yale Materials Handling, Inc. was incorporated in 1991 and is headquartered in Cleveland, Ohio.
How the Company Makes MoneyHyster-Yale Materials Handling primarily generates revenue through the sale of lift trucks and aftermarket parts. The company sells its products globally through a network of independent dealers as well as directly to clients. A significant portion of its income is derived from its aftermarket services, which include maintenance and repair, fleet management, and parts sales. Hyster-Yale also offers leasing and rental options, providing flexibility to customers and securing recurring revenue streams. Strategic partnerships and collaborations with other industrial and technology firms enhance their offerings and market reach, further contributing to their financial performance.
Hyster-Yale Materials Handling Financial Statement Overview
Summary
Hyster-Yale Materials Handling shows strong revenue growth, improved profit margins, and robust cash flow generation. However, increasing leverage is a concern that needs monitoring.Income Statement
Hyster-Yale Materials Handling has shown strong revenue growth over the years, with a notable increase from $3.55 billion in 2022 to $4.31 billion in 2024. The gross profit margin improved significantly, indicating better cost management. EBIT and EBITDA margins are healthy, reflecting operational efficiency. Net profit margin has improved, demonstrating enhanced profitability.85
Very Positive
Balance Sheet
The company has a manageable debt-to-equity ratio, although it has increased over the years, raising leverage concerns. Return on Equity (ROE) has improved, reflecting better utilization of shareholder's equity. The equity ratio indicates a moderate reliance on equity financing, suggesting a balanced financial structure.72
Positive
Cash Flow
Operating cash flow has been positive and growing, which is a good sign of cash generation from core operations. Free cash flow shows a strong growth trajectory, enhancing financial flexibility. The operating cash flow to net income ratio indicates robust cash conversion from profits.78
Positive
| Breakdown | ||||
| Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 |
|---|---|---|---|---|
| Income Statement | Total Revenue | |||
| 4.31B | 4.12B | 3.55B | 3.08B | 2.81B | Gross Profit |
| 895.50M | 785.60M | 433.90M | 363.40M | 465.40M | EBIT |
| 244.80M | 208.70M | -34.00M | -86.70M | 13.00M | EBITDA |
| 300.40M | 263.40M | 10.60M | -90.00M | 88.00M | Net Income Common Stockholders |
| 142.30M | 125.90M | -71.60M | -183.20M | 37.10M |
| Balance Sheet | Cash, Cash Equivalents and Short-Term Investments | |||
| 96.60M | 78.80M | 59.00M | 65.50M | 151.40M | Total Assets |
| 2.03B | 2.08B | 2.03B | 1.97B | 1.86B | Total Debt |
| 386.50M | 494.00M | 552.90M | 518.50M | 289.20M | Net Debt |
| 289.90M | 415.20M | 493.90M | 453.00M | 137.80M | Total Liabilities |
| 1.54B | 1.67B | 1.80B | 1.59B | 1.21B | Stockholders Equity |
| 475.10M | 389.90M | 204.40M | 357.10M | 616.90M |
| Cash Flow | Free Cash Flow | |||
| 170.70M | 115.30M | 11.80M | -297.80M | 115.20M | Operating Cash Flow |
| 170.70M | 150.70M | 40.60M | -253.50M | 166.90M | Investing Cash Flow |
| -47.60M | -34.50M | -35.40M | -24.50M | -43.70M | Financing Cash Flow |
| -100.10M | -100.50M | -10.90M | 193.60M | -40.60M |
Hyster-Yale Materials Handling Technical Analysis
Negative
44.46
Price Trends
49.70
Negative
51.59
Negative
58.43
Negative
Market Momentum
-1.41
Negative
38.92
Neutral
31.88
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For HY, the sentiment is Negative. The current price of 44.46 is below the 20-day moving average (MA) of 45.20, below the 50-day MA of 49.70, and below the 200-day MA of 58.43, indicating a bearish trend. The MACD of -1.41 indicates Negative momentum. The RSI at 38.92 is Neutral, neither overbought nor oversold. The STOCH value of 31.88 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for HY.
Hyster-Yale Materials Handling Risk Analysis
Hyster-Yale Materials Handling disclosed 23 risk factors in its most recent earnings report. Hyster-Yale Materials Handling reported the most risks in the “Legal & Regulatory” category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Hyster-Yale Materials Handling Peers Comparison
Overall Rating
UnderperformOutperform
Sector (62)
Financial Indicators
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
78 Outperform | $2.68B | 8.16 | 19.13% | 1.68% | -0.47% | -34.74% | |
74 Outperform | $130.20B | 21.44 | 27.91% | 1.25% | -20.93% | -34.33% | |
68 Neutral | $6.33B | 9.58 | 17.34% | 1.91% | 11.36% | 13.78% | |
66 Neutral | $162.16B | 15.47 | 55.36% | 1.62% | -3.36% | 9.59% | |
65 Neutral | $334.22M | 6.03 | 8.98% | ― | -2.24% | 42.13% | |
64 Neutral | $793.02M | 5.56 | 32.90% | 3.12% | 4.61% | 11.15% | |
62 Neutral | $8.27B | 14.02 | 2.58% | 3.08% | 3.83% | -15.91% |
* Industrials Sector Average
Performance Comparison
HY
Hyster-Yale Materials Handling
44.46
-17.58
-28.34%
CAT
Caterpillar
339.30
-19.04
-5.31%
DE
Deere
479.72
80.10
20.04%
MTW
Manitowoc Company
9.43
-4.54
-32.50%
OSK
Oshkosh
97.06
-24.02
-19.84%
TEX
Terex
40.08
-22.19
-35.64%
Hyster-Yale Materials Handling Earnings Call Summary
Earnings Call Date: Feb 25, 2025 | % Change Since: -13.52% | Next Earnings Date: May 6, 2025
Earnings Call Sentiment Neutral
The earnings call highlighted a strong financial performance for 2024 with significant growth and strategic initiatives in place. However, challenges are anticipated in 2025 with expected revenue declines, higher tax rates, and market uncertainties. Despite these, the company is positioned with innovative product launches and financial improvements.Highlights
Strong Year-End Performance
2024 revenues were $4.3 billion, a 5% improvement over the prior year, with adjusted operating profit of $267 million, marking the strongest full-year performance in the company's history.
Successful Footprint Optimization
Execution of footprint optimization programs incurred a $21 million cost, expected to save $30 to $40 million annually starting in 2027.
Lift Truck Business Growth
Lift truck business revenues grew by 5% with adjusted operating profits improving by 28%, driven by a mix of higher-value products.
Innovative Product Launches
Launch of modular scalable trucks and new automation technologies, expected to enhance efficiency and expand market share.
Improved Financial Position
Year-end cash position improved with a significant reduction in debt and increased unused borrowing capacity to $290 million.
Lowlights
Expected Revenue Decline in 2025
Anticipated significant year-over-year revenue decrease in 2025 due to decreased lift truck production levels and increased market competitiveness.
Higher Tax Rates
Elevated 2024 effective income tax rate of 34% due to capitalization of R&D costs and valuation allowance, with a similar outlook for 2025.
Challenges in Bolzoni and Nuvera Segments
Bolzoni faced lower volumes and inefficiencies, while Nuvera's customer adoption rates were slow due to hydrogen supply constraints.
Increased Market Uncertainty
Potential tariffs and ongoing geopolitical issues create uncertainty for market outlook and cost structures.
Company Guidance
During the Hyster-Yale Materials Handling, Inc. fourth quarter and full year 2024 earnings call, the company provided guidance with several key metrics and strategic initiatives. In 2024, the company achieved $4.3 billion in revenue, a 5% increase over the previous year, and an adjusted operating profit of $267 million, representing a 6% margin, the highest in company history. For 2025, the company anticipates a significant decline in both revenues and profits due to lower lift truck production levels and increased market competition. Expected benefits from footprint optimization programs, which incurred a $21 million cost in 2024, are set to begin in late 2025 with projected annual savings of $30 to $40 million by 2027. The company also plans to invest between $40 and $80 million in capital expenditures in 2025, contingent on market conditions. The effective tax rate is projected to be elevated due to ongoing R&D cost capitalization, although tax expense should be lower than in 2024. Despite the anticipated downturn, Hyster-Yale is focused on long-term growth strategies, including modular product expansion, electrification, and automation, to enhance profitability and market competitiveness.Hyster-Yale Materials Handling Corporate Events
Financial DisclosuresRegulatory Filings and Compliance
Hyster-Yale to Update Financial Data on Website
Neutral
Feb 25, 2025
On February 25, 2025, Hyster-Yale, Inc. plans to update its website with additional historical quarterly financial data and revised schedules for the fourth quarter of 2024. This update is part of a regulatory filing process and aims to provide stakeholders with detailed insights into the company’s past operational results.
Glossary
OutperformA stock rated as "Outperform" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests that the stock is likely to deliver higher returns compared to the average returns of other stocks in the same sector or market index. Investors might consider this stock a good buying opportunity.
NeutralA stock rated as "Neutral" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly attractive nor unattractive for investment. Investors may consider holding onto the stock, as it is not expected to either significantly outperform or underperform the market.
UnderperformA stock rated as "Underperform" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests that the stock may deliver lower returns compared to the average returns of other stocks in the same sector or market index. Investors might consider selling the stock or avoiding it as an investment.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.