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Dec 31, 2019
Hyster-Yale Q4 2019 Earnings Report
Announced fourth quarter and full year 2019 results.
Key Takeaways
Hyster-Yale Materials Handling, Inc. reported consolidated revenues of $834.8 million and consolidated net income of $3.4 million, or $0.20 per diluted share, for the fourth quarter of 2019.
Consolidated revenues decreased modestly from Q4 2018 due to lower shipments caused by a moderating EMEA market, structural changes at the JAPIC operations and supplier issues
Consolidated gross profit increased 15.8% over Q4 2018, driven by a 19.6% increase in Lift Truck gross profit
Lift Truck gross profit margin increased to 16.3% from 13.7% in Q4 2018, with increases in all geographic segments due to cost recovery and pricing actions
Consolidated operating profit increased to $8.1 million from a loss of $3.4 million in Q4 2018, but was reduced by an increase in product liability expense and investments to support strategic growth initiatives
Revenue by Segment
Revenue by Geographic Location
Forward Guidance
Hyster-Yale expects operating profit and net income in 2020 to increase significantly over 2019, with continued investments in strategic programs and their implementation.
Positive Outlook
- Hyster-Yale Group's operating profit is expected to improve significantly in 2020 over 2019.
- Bolzoni’s operating profit is expected to increase in 2020, primarily as a result of the absence of $2.5 million of restructuring charges for its Americas operations
- Nuvera’s results are expected to improve in 2020 over 2019, with shipments expected to ramp up throughout the second half of 2020.
- Consolidated component volume sourced globally from reliable partners is expected to reduce costs and improve quality as these new products are brought to market over the next few years.
- For the 2020 full year, consolidated cash flow before financing activities is expected to increase significantly over 2019.
Challenges Ahead
- The Company is currently forecasting strong but lower forklift market levels in all geographic segments.
- The effects of the Coronavirus epidemic continue to evolve daily, and there is much uncertainty with regard to the ramifications of this situation.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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