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Hyster-Yale Reports Strong Third Quarter 2026 Results

CLEVELAND, Nov. 5, 2026 – Hyster-Yale, Inc. (NYSE: HY) has announced its financial results for the third quarter ending September 30, 2026, showcasing notable growth in bookings and a positive trend in operational performance. The company achieved consolidated bookings of $550 million, reflecting a remarkable 45% increase compared to the previous year, marking the fourth consecutive quarter of heightened bookings since the cyclical low recorded in Q2 2025. This resurgence in bookings was a key factor in translating into escalating shipment volumes, signaling a robust recovery in demand across the market.

Hyster-Yale's total revenue for the third quarter amounted to $827.4 million, which represents a slight increase of 2% from the prior quarter, despite experiencing a year-over-year decline of 15% compared to the third quarter of 2025. The decrease compared to last year primarily stemmed from an unfavorable product mix and lower shipment volumes, which continued to challenge profitability. However, operating losses improved sequentially, contracting from $18.4 million in Q2 2026 to $9.1 million in Q3.

The company's adjusted EBITDA successfully returned to positive territory during Q3 2026, reflecting improved operational efficiency and volume increases. Notably, cash flow from operations increased by $10 million quarter-over-quarter, showcasing a strong recovery from previous downturns, and resulting in a more favorable liquidity position.

Key Operational Insights

Hyster-Yale reported that its Lift Truck business unit generated revenues of $775.5 million for the quarter, which, although down 17% from $929.3 million in Q3 2025, demonstrated improved operational results compared to Q2. The sequential growth was driven by higher shipment volumes that started to benefit from the improved bookings. The overall profitability of Lift Truck operations, however, is still recovering as the segment contended with lower parts sales and an unfavorable product mix.

In geographical terms, revenue breakdown revealed the Americas accounted for $608.6 million, down 17% year-over-year, while EMEA reported $122.8 million, also a decline of 18%. Conversely, JAPIC saw a modest decline of only 5%, contributing $44.1 million. The company observed a shift in customer demand toward lighter-intensity, lower-priced models, impacting the sales figures of higher-value products like Class 1 and Class 4 trucks. This transition has also enabled them to sustain market share in an evolving competitive landscape.

Future Outlook

Looking ahead, Hyster-Yale anticipates a significant improvement in its Q4 2026 operating performance, driven by expected increases in shipment volumes as enhanced bookings continue to convert into sales. The management has initiated new operational strategies and cost-reduction measures that aim for a targeted annual saving of $100 million by 2029. This is in response to the need for efficiency amid rising operational costs and demand volatility.

New Initiatives and Cost-Management Strategies

The company has set in motion various initiatives designed to optimize its operational structure, including potential manufacturing plant consolidations and a recalibration of their product offerings. These strategic moves are intended to align with changing market demands while ensuring long-term sustainability and profitability. Hyster-Yale expects these transformative projects to yield increased operational benefits and ensure that the company maintains a competitive edge in the materials handling industry.

Hyster-Yale management showcases confidence in continuing operational enhancements while addressing challenges posed by global market dynamics, inflation, and competitive pressures. The company's plan to focus on evolving customer needs without losing sight of its financial health positions Hyster-Yale for a promising trajectory heading into 2027 and beyond.

As part of its ongoing commitment to stakeholder engagement, Hyster-Yale’s management will discuss Q3 results and strategic initiatives during a conference call scheduled for November 6, 2026. Investors and analysts are encouraged to participate in this session to gain deeper insights into the company's performance and future expectations.

In conclusion, the third quarter of 2026 has reaffirmed Hyster-Yale's adaptability and resilience within a challenging market environment, signaling optimism for forthcoming quarters as the company navigates through operational reforms and strategic growth initiatives.