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Dec 31, 2020
Hyster-Yale Q4 2020 Earnings Report
Hyster-Yale's Q4 2020 results were announced, revealing increased operating profit and net income despite a decrease in revenues due to pandemic-related impacts and market recovery pace.
Key Takeaways
Hyster-Yale Materials Handling reported a decrease in consolidated revenues but an increase in consolidated operating profit and net income for Q4 2020 compared to Q4 2019. The company's cost containment actions significantly contributed to the improved results, offsetting lower unit volumes.
Consolidated revenues decreased by 13.8% due to lower shipments from pandemic impacts.
Consolidated operating profit increased to $13.7 million, driven by cost containment actions.
Net income increased to $13.1 million, or $0.78 per share, up from $3.4 million, or $0.20 per share in Q4 2019.
Net debt improved to $137.8 million at the end of December 2020.
Revenue by Segment
Revenue by Geographic Location
Forward Guidance
Hyster-Yale expects operating profit and net income in the first quarter of 2021, excluding the gain from the sale of the Company's OneH2 investment, to be moderately lower than the 2020 fourth quarter and lower than the 2020 first quarter.
Positive Outlook
- Markets are anticipated to continue to improve over pre-pandemic levels.
- Strategic projects the Company continues to pursue at each of its businesses to generate sound long-term financial returns.
- Focusing on advancing key strategic initiatives.
- The launch of new range of the 2-to-3 ton counterbalanced trucks is expected to continue throughout 2021 and the early part of 2022.
- Consolidated component volume sourced globally from reliable partners is expected to reduce long-term costs and improve quality as these new products are brought to market over time.
Challenges Ahead
- Further pandemic-related global supply chain constraints.
- Component shortages, shipping container availability and higher freight costs.
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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