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CLEVELAND, March 17, 2021 /PRNewswire/ Hyster-Yale Materials Handling, Inc. (NYSE: HY) issued the following statement from its Board of Directors.
The Company is focused on creating value for all of its stockholders and evaluates all ideas that have the potential to help achieve this goal. While it is Company policy not to comment on individual communications, the Company s Board of Directors and management team are always looking at ways to maximize the value for all stockholders and will continue to do so.
About Hyster-Yale Materials Handling
Hyster-Yale Materials Handling, Inc., headquartered in Cleveland, Ohio, offers a broad array of solutions to meet the specific materials handling needs of customers applications. The Company s wholly owned operating subsidiary, Hyster-Yale Group, Inc., designs, engineers, manufactures, sells and services a comprehensive line of lift trucks and aftermarket parts marketed globally primarily under t
Hyster-Yale Materials Handling Inc (HY) Q4 2020 Earnings Call Transcript
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Quarter Highlights:
Q4 2020 consolidated revenues decreased 13.8% from Q4 2019 due to lower shipments resulting from the continuing effects of very low bookings during the peak period of the global pandemic shutdowns, as well as the pace of the subsequent forklift truck market recovery
Q4 2020 consolidated operating profit increased to $13.7 million from $8.1 million in Q4 2019, driven by an 18.9% decrease in operating expenses primarily due to cost containment actions taken to mitigate the impact of the COVID-19 pandemic, partly offset by a 13.8% decrease in gross profit mainly as a result of lower unit shipment volumes
Q4 2020 net income of $13.1 million, or $0.78 per share, increased from $3.4 million, or $0.20 per share in Q4 2019, and improved from Q3 2020 net income of $5.1 million, or $0.30 per share
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Forklift Truck Market research report provides a profound overview of product specification, technology, product type and production analysis considering major factors such as revenue, cost, and gross margin. This marketing report is very crucial in several ways for business growth and to thrive in the market. These strategies mainly include new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others that boost their footprints in this market. An influential Forklift Truck Market report not only lends a hand for intelligent decision making but also better manages marketing of goods and services which leads to growth in the business.
The research report on the Forklift Truck market unearths the competitive terrain of the industry, which is inclusive of organizations like Jungheinrich AG, Hyster-Yale Group, Inc. (a subsidiary of Hyster-Yale Materials Handling, Inc.), KION GROUP AG, Lift Technologies, Inc, Crown Equipment Corporation, CLA