Hyster-Yale Materials Handling Up 1.81% To $35.47 After Earnings Beat

Hyster-Yale Materials Handling Inc (HY) beat out earnings estimates for Q2 2022 this afternoon.

Hyster-Yale Materials Handling's earnings came in at an EPS loss of $1.15 per share, 38.00% higher than estimates for an EPS loss of $1.85 per share. The firm's earnings are down 1145% since reporting $0.11 per share in the same period a year ago. Remember, earnings reported were on an adjusted basis, so they may not be comparable to prior reports and/or analyst estimates.

Revenues were upbeat at $895.4 million. That is an increase of 16.95% in revenues from the year-ago report and is 9.64% higher than consensus estimates set at $816.7 million.

The stock is up 1.81% to $35.47 after the report.

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

Trading in the five days leading up to the report earned Hyster-Yale Materials Handling a Bullish Sentiment Rank from InvestorsObserver.

Hyster-Yale Materials Handling has been a strong performer over the past few months, garnering a high Long-Term Technical Rank by InvestorsObserver of 86, putting Hyster-Yale Materials Handling in the top 25% of stocks. The firm set a 52-week low on April 28, 2022 at $29.95 and set a 52-week high on August 3, 2021 at $70.07.

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.