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Hyster-Yale Materials Handling Inc. Class A Up 2.16% To $30.72 After Earnings Miss

Wednesday, November 02, 2022 11:18 AM | InvestorsObserver Analysts

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Hyster-Yale Materials Handling Inc. Class A Up 2.16% To $30.72 After Earnings Miss

Hyster-Yale Materials Handling Inc (HY) reported less than expected earnings this afternoon for Q3 2022.

Hyster-Yale Materials Handling Inc. Class A's earnings came in at an EPS loss of $2.2 per share, 6% lower than estimates for an EPS loss of $2.08 per share. The firm's loss per share narrowed by 5% since reporting a loss of $2.31 per share a year ago. Remember, earnings reported were on an adjusted basis, so they may not be comparable to prior reports and/or analyst estimates.

Analyst projections for Hyster-Yale Materials Handling Inc. Class A revenue came in at a consensus of $834.3 million. Third-Quarter revenues surpassed estimates for $840.1 million by $5.9 million (1%). The company achieved 12% growth year-over-year compared to the firm's revenue of $748.2 million from the year-ago quarter. The lower earnings growth relative to revenue signals Hyster-Yale Materials Handling Inc. Class A has not been able to improve its profit margin.

The stock is up 2.16% to $30.72 after the report.

Despite revenues increasing, earnings decreased, signaling a decline in profit margins.

The average recommendation from Wall Street analysts was a Strong Buy which may get revised based on this new data.

InvestorsObserver gives the stock a Bullish Sentiment score at the moment based on recent trading.

Prior to the report, InvestorsObserver gave the stock an overall score of 35. Meanwhile, the average Wall Street analyst rated the stock a Strong Buy.

Hyster-Yale Materials Handling Inc designs, engineers, manufactures, sells, and services a line of lift trucks and aftermarket parts. It manufactures components, such as frames, masts, and transmissions; and assembles lift trucks and the products are market under the Hyster and Yale brand names to independent Hyster and Yale retail dealerships. The company operates through three geographical regions namely: the Americas, EMEA, JAPIC, of which Americas region accounts for the larger share of the revenue.

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