Key Takeaways:
Hyster-Yale Inc. (NYSE: HY) reported a $28 million operating loss for the first quarter as revenue fell 13 percent year-over-year, with the materials handling equipment maker citing the impact of approximately $30 million in tariffs.
The Cleveland-based company said revenue for the three months ended March 31 was $795.2 million, down from $910.4 million in the same period a year ago. The results missed analyst expectations of a smaller 3.5 percent year-on-year revenue decline.
The swing to a loss from a $21.3 million operating profit in the first quarter of 2025 was primarily driven by the tariff costs and a product mix shift toward lighter-duty, lower-priced trucks, according to the company's statement. The revenue decline of 13 percent also marks an acceleration from the 13.8 percent decrease recorded in the same quarter last year.
The results stand in contrast to some peers in the industrial and machinery space. Terex (NYSE: TEX) recently reported a 40.6% year-over-year revenue increase to $1.73 billion, beating estimates. Stanley Black & Decker (NYSE: SWK) and Fortive (NYSE: FTV) also posted modest revenue growth.
Despite the weak quarterly results, Hyster-Yale highlighted a 7 percent sequential increase in bookings, which it described as a signal of "early stabilization" following a cyclical low in the third quarter of 2025. This comes after the company has missed Wall Street’s revenue estimates multiple times over the last two years. Spun off from Nacco Industries in 2012, the lift truck manufacturer has seen its stock underperform for extended periods, according to analysis from Barchart.
The guidance miss will likely increase pressure on the company to manage costs and navigate the demand shift. Investors will be watching for whether the sequential increase in bookings translates into improved revenue and a return to profitability in the coming quarters. The company's next earnings report is expected in early August.
This article is for informational purposes only and does not constitute investment advice.
