Hyster-Yale, Inc. reported a significant decline in financial performance for the fiscal year ending December 31, 2025, with total revenues decreasing by 12.5% to $3.77 billion, down from $4.31 billion in 2024. The company's net loss attributable to stockholders was $60.1 million, compared to a net income of $142.3 million in the previous year. This downturn was primarily driven by a reduction in unit volume, particularly in the Americas and EMEA regions, as customers delayed purchases amid ongoing economic uncertainty. The company's gross profit also fell sharply, decreasing by 29.3% to $632.8 million, reflecting lower sales volumes and increased costs associated with tariffs.
In terms of operational changes, Hyster-Yale underwent a strategic realignment of its Nuvera Fuel Cells segment, merging it into Hyster-Yale Materials Handling (HYMH) to enhance profitability and create an integrated energy solutions program. This restructuring did not affect the consolidated financial statements but did alter the reportable segments. The company also recognized $38.4 million in restructuring and impairment charges related to workforce reductions and the strategic realignment of Nuvera, compared to $22.6 million in 2024.
The company’s operational metrics showed a decline in backlog, which fell to approximately $1.28 billion by the end of 2025, down from $1.93 billion a year earlier. This decrease was attributed to lower truck volumes and a shift in market demand towards lighter-duty, lower-priced models. Despite these challenges, Hyster-Yale reported a slight increase in bookings, reaching $1.84 billion, indicating a potential recovery in customer demand as the market begins to stabilize.
Looking ahead, Hyster-Yale's management anticipates a gradual improvement in market conditions throughout 2026, with expectations for increased bookings and a rebuilding of backlog. The company plans to implement cost-reduction initiatives and operational efficiencies to mitigate the impact of ongoing tariff-related expenses. However, management cautioned that margins may remain under pressure due to the competitive landscape and the shift towards lower-margin products. The company is focused on maintaining financial discipline and enhancing its competitive position through strategic investments and operational improvements.
About HYSTER-YALE, INC.
Hyster-Yale, Inc. designs, manufactures, and markets lift trucks, attachments, and related solutions globally. Its core segments include lift trucks, industrial attachments, and fuel-cell technology, serving diverse industries through dealer networks and direct sales. The company emphasizes innovation, quality, and customer service, with a focus on sustainability, safety, and global market expansion. It operates manufacturing facilities worldwide, supporting aftermarket parts and advanced energy solutions.
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