Hyster-Yale Q3 revenue falls 15% as shipment volumes drop
HY•Hyster-Yale’s third-quarter revenue fell 15% year over year to $827.4 million as shipment volumes declined, and it reported a $14.9 million net loss. The company expects adjusted net income to return to positive in the fourth quarter and is targeting at least $100 million in annual savings from new cost-reduction programs.
1. Revenue and losses
Hyster-Yale reported third-quarter revenue of $827.4 million, down 15% year over year and below the $926.45 million consensus estimate. The company posted a net loss of $14.9 million and an operating loss of $9.1 million; both improved from the second quarter.
2. Outlook and savings
The company expects fourth-quarter 2026 adjusted net income to return to positive and improve sequentially. It forecasts fourth-quarter bookings to exceed both the year-earlier quarter and the third quarter, and said new cost-reduction programs target at least $100 million in annual savings at maturity by 2029.
3. Factors behind results
Hyster-Yale attributed the revenue decline to lower shipment volumes and unfavorable product mix, including a customer shift toward lighter-intensity, lower-priced lift trucks. It said sequential improvement in its operating loss was driven by structural cost savings and lower employee-related expenses.
