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
Hyster-Yale expects operating profit and net income in 2020 to increase significantly over 2019, with continued investments in strategic programs and their implementation.
Visualization of income flow from segment revenue to net income
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