0001173514false00011735142025-05-062025-05-06


UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549

 _______________________________________________________________________________________________________________________________________________________________________________________________________
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 OR 15(d) of The Securities Exchange Act of 1934
Date of Report (Date of earliest event reported):May 6, 2025
HYSTER-YALE, INC.
(Exact name of registrant as specified in its charter)
Delaware000-5479931-1637659
(State or other jurisdiction of incorporation)(Commission File Number)(IRS Employer Identification No.)
5875 Landerbrook Drive, Suite 300
Cleveland(440)
OH449-960044124-4069
(Address of principal executive offices)(Registrant's telephone number, including area code)(Zip code)
N/A
(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
☐    Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐    Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐    Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐    Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Securities registered pursuant to Section 12(b) of the Act:
Title of each classTrading Symbol(s)Name of each exchange on which registered
Class A Common Stock, $0.01 par value per shareHYNew York Stock Exchange

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐



Item 2.02 Results of Operations and Financial Condition and
Item 7.01 Regulation FD Disclosure.
    
On May 6, 2025, Hyster-Yale, Inc. (the “Company”) will post on its website at www.hyster-yale.com additional historical quarterly financial data and update the schedules that were previously posted to the website for the first quarter 2025 results. A copy of the data is attached as Exhibit 99 to this Current Report on Form 8-K.

This Current Report on Form 8-K and the information attached hereto are being furnished by the Company pursuant to Item 2.02 of Form 8-K, insofar as they disclose historical information regarding the Company's results of operations.

The information in this Current Report on Form 8-K, including Exhibit 99, shall not be deemed “filed” for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liability of that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, except as shall be expressly set forth by specific reference in such a filing.

Item 9.01 Financial Statements and Exhibits.

As described in Item 2.02 and 7.01 of this Current Report on Form 8-K, the following Exhibit is furnished as part of this Current Report on Form 8-K.
    
(d) Exhibits
99
104
Cover Page Interactive Data File (embedded within the Inline XBRL document)





SIGNATURES

    Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

Date:May 6, 2025HYSTER-YALE, INC.
By:/s/ Dena R. McKee
Dena R. McKee
Title: Vice President, Controller and Chief Accounting Officer

                            

                            


EXHIBIT 99
Hyster-Yale, Inc.
(in millions of $, except percentage data)
Revenues - Consolidated
Revenues - Consolidated - % change yr. over yr.
Q1Q2Q3Q4FYQ1Q2Q3Q4FY
2021732.2 765.6 748.2 829.7 3,075.7 2021-6.8 %17.0 %14.7 %15.3 %9.4 %
2022827.6 895.4 840.1 985.2 3,548.3 202213.0 %17.0 %12.3 %18.7 %15.4 %
2023999.3 1,090.6 1,001.2 1,027.2 4,118.3 202320.7 %21.8 %19.2 %4.3 %16.1 %
20241,056.5 1,168.1 1,016.1 1,067.5 4,308.2 20245.7 %7.1 %1.5 %3.9 %4.6 %
2025910.4 2025-13.8 %
Gross Profit (6)
Gross Profit % (6)
Q1Q2Q3Q4FYQ1Q2Q3Q4FY
2021118.4 116.4 65.1 63.5 363.4 202116.2 %15.2 %8.7 %7.7 %11.8 %
2022101.299.186.9146.7433.9 202212.2 %11.1 %10.3 %14.9 %12.2 %
2023174.4197.9203.6209.7785.6 202317.5 %18.1 %20.3 %20.4 %19.1 %
2024235.7259.3192.9207.6895.5 202422.3 %22.2 %19.0 %19.4 %20.8 %
2025177.7202519.5 %
Operating Expenses (7)(8)(10)(11)
Operating Expenses as a % of Revenue (7)(8)(10)(11)
Q1Q2Q3Q4FYQ1Q2Q3Q4FY
2021115.3 110.5 119.4 170.5 515.7 202115.7 %14.4 %16.0 %20.5 %16.8 %
2022119.5 114.8 111.8 126.9 473.0 202214.4 %12.8 %13.3 %12.9 %13.3 %
2023131.8 139.1 145.0 161.0 576.9 202313.2 %12.8 %14.5 %15.7 %14.0 %
2024151.9 163.7 159.8 175.3 650.7 202414.4 %14.0 %15.7 %16.4 %15.1 %
2025156.4 202517.2 %
Restructuring & Impairment Charges (6)(7)(8)(10)(11)(12)(13)
Q1Q2Q3Q4FY
2021— — 24.8 56.9 81.7 
2024— — 1.2 21.4 22.6 
20250.2 
Operating Profit (Loss) (6)(7)(8)(10)(11)
Operating Profit (Loss) % (6)(7)(8)(10)(11)
Q1Q2Q3Q4FYQ1Q2Q3Q4FY
20213.1 5.9 (54.3)(107.0)(152.3)20210.4 %0.8 %-7.3 %-12.9 %-5.0 %
2022(18.3)(15.7)(24.9)19.8 (39.1)2022-2.2 %-1.8 %-3.0 %2.0 %-1.1 %
202342.6 58.8 58.6 48.7 208.7 20234.3 %5.4 %5.9 %4.7 %5.1 %
202483.8 95.6 33.1 32.3 244.8 20247.9 %8.2 %3.3 %3.0 %5.7 %
202521.3 20252.3 %
Interest (Income) Expense
Q1Q2Q3Q4FY
20212.7 3.7 4.0 4.5 14.9 
20224.9 5.9 7.3 9.2 27.3 
20239.6 7.8 8.9 8.4 34.7 
20247.8 8.0 7.9 7.3 31.0 
20257.0 
Income (Loss) Before Taxes
Effective Income Tax Rate (9)
Q1Q2Q3Q4FYQ1Q2Q3Q4FY
20218.5 (0.1)(56.3)(107.0)(154.9)202128.2 %n.m.-36.4 %-7.3 %-18.3 %
2022(21.3)(21.8)(32.4)13.1 (62.4)2022-13.6 %14.2%-13.0 %39.7 %-14.7 %
202335.9 50.8 52.6 41.7 181.0 202324.2 %23.6%30.8 %38.4 %29.2 %
202476.9 90.0 28.1 24.0 219.0 202432.6 %29.0%36.7 %55.4 %34.2 %
202516.8 202548.2 %


Hyster-Yale, Inc.
(in millions of $, except percentage data)
Net Income (Loss) Attributable to Stockholders (8)(9)
Q1Q2Q3Q4FY
20215.6 1.9 (77.2)(103.3)(173.0)
2022(25.0)(19.4)(37.3)7.6 (74.1)
202326.6 38.3 35.8 25.2 125.9 
202451.5 63.3 17.2 10.3 142.3 
20258.6 
Depreciation and Amortization Expense
Q1Q2Q3Q4FY
202111.7 11.6 11.4 11.5 46.2 
202211.1 11.0 10.9 10.4 43.4 
202311.2 11.3 11.3 11.3 45.1 
202411.7 12.4 11.7 11.8 47.6 
202511.0 
Net Working Capital (1)
Net Working Capital as % of Revenue (2)
Q1Q2Q3Q4FYQ1Q2Q3Q4FY
2021539.7 645.9 692.4 697.0 697.0 202118.4 %21.1 %23.1 %22.7 %22.7 %
2022704.7 751.9 686.2 715.7 715.7 202221.3 %21.0 %20.4 %20.2 %20.2 %
2023763.0 809.0 777.8 783.0 783.0 202319.1 %18.5 %19.4 %19.0 %19.0 %
2024789.6 855.9 863.9 787.2 787.2 202418.7 %18.3 %21.3 %18.3 %18.3 %
2025804.7 202522.1 %
Capital Expenditures
Q1Q2Q3Q4FY
20217.7 10.4 11.4 14.8 44.3 
20229.7 5.6 4.4 9.1 28.8 
20233.3 7.3 8.3 16.5 35.4 
20247.5 12.2 10.2 17.9 47.8 
202510.6 
Net Cash Provided By (Used For) Operating Activities
Q1Q2Q3Q4FY
2021(47.1)(53.6)(91.1)(61.7)(253.5)
202259.1 (58.9)34.1 6.3 40.6 
20239.0 35.8 60.3 45.6 150.7 
2024 22.4 (2.5)70.1 80.7 170.7 
2025(36.4)
Net Cash Provided By (Used For) Investing Activities
Q1Q2Q3Q4FY
20219.5 (8.7)(10.9)(14.4)(24.5)
2022(9.3)(13.6)(4.3)(8.2)(35.4)
2023(5.0)(6.9)(7.9)(14.7)(34.5)
2024(7.0)(11.7)(12.0)(16.9)(47.6)
2025(10.3)
Cash Flow Before Financing Activities (3)
Q1Q2Q3Q4FY
2021(37.6)(62.3)(102.0)(76.1)(278.0)
202249.8 (72.5)29.8 (1.9)5.2 
20234.0 28.9 52.4 30.9 116.2 
202415.4 (14.2)58.1 63.8 123.1 
2025(46.7)


Hyster-Yale, Inc.
(in millions of $, except percentage data)
Net Cash Provided By (Used For) Financing Activities
Q1Q2Q3Q4FY
2021(8.0)45.5 77.2 78.9 193.6 
2022(50.9)84.4 (35.4)(9.0)(10.9)
2023(2.5)(26.4)(40.2)(31.4)(100.5)
2024(30.5)19.1 (50.8)(37.9)(100.1)
202525.9 
Dividends Paid to Stockholders
Q1Q2Q3Q4FY
20215.3 5.4 5.5 5.4 21.6 
20225.4 5.5 5.5 5.4 21.8 
20235.6 5.5 5.6 5.6 22.3 
20245.7 6.1 6.1 6.1 24.0 
20256.2 
Total Debt
Debt to Total Capitalization (4)
Q1Q2Q3Q4FYQ1Q2Q3Q4FY
2021285.4 345.7 428.0 518.5 518.5 202131.7 %35.4 %45.6 %57.5 %57.5 %
2022479.0 580.6 545.0 552.9 552.9 202257.7 %72.2 %80.1 %71.1 %71.1 %
2023560.6 542.3 510.6 494.0 494.0 202367.3 %63.9 %61.4 %54.8 %54.8 %
2024474.8 501.9 468.5 440.7 440.7 202452.5 %51.0 %46.0 %47.1 %47.1 %
2025484.0 202547.8 %
Total Equity
Return on Equity (5)
Q1Q2Q3Q4FYQ1Q2Q3Q4FY
2021615.8 630.0 510.2 382.9 382.9 20214.6 %4.2 %-9.4 %-31.0 %-31.0 %
2022351.5 223.4 135.2 225.1 225.1 2022-40.9 %-53.6 %-57.7 %-28.1 %-28.1 %
2023272.3 306.2 320.6 406.8 406.8 2023-9.3 %15.1 %43.0 %41.1 %41.1 %
2024429.3 482.1 549.0 494.1 494.1 202443.5 %45.2 %35.9 %30.1 %30.1 %
2025529.4 202520.0 %
(1)Net working capital is equal to accounts receivable, net plus inventories, net less accounts payable.
(2)Net working capital as a percentage of revenue is equal to net working capital divided by annualized revenues for the quarter and the annual revenue at year end.
(3)Cash flow before financing activities is equal to net cash provided by (used for) operating activities plus net cash provided by (used for) investing activities.
(4)Debt to total capitalization is equal to total debt divided by total debt plus permanent equity.
(5)Return on equity is equal to the sum of the trailing 4 quarters net income divided by average equity calculated over the last 5 quarters.
(6)During the third and fourth quarters of 2021, Nuvera reduced its inventory to its estimated net realizable value by $14.8 million and $1.3 million, respectively.
(7)During the third quarter of 2021, Nuvera recognized a $10.0 million impairment charge of property, plant and equipment.
(8)During the fourth quarter of 2021, JAPIC recognized a $55.6 million goodwill impairment charge, of which $11.7 million related to the non-controlling interest share.
(9)During the third and fourth quarters of 2021, the Company recognized a valuation allowance of $38.4 million and $20.2 million, respectively, provided against deferred tax assets.
(10)During the third quarter of 2024, JAPIC recognized $1.0 million and Nuvera recognized $0.2 million in restructuring & impairment charges.
(11)During the fourth quarter of 2024, the Company recognized $16.8 million ($6.8 million in the Americas, $2.4 million in EMEA and $7.6 million in JAPIC), Bolzoni recognized $4.3 million and Nuvera recognized $0.3 million of restructuring & impairment charges
(12)Restructuring and impairment charges are included in Gross Profit (Loss) and Operating Expenses as noted above.
(13)During the first quarter of 2025, the Company recognized $0.2 million ($0.7 million in the Americas, ($1.3 million) reversal in EMEA and $0.8 million in JAPIC) of restructuring charges.


Hyster-Yale, Inc.
(in millions of $, except percentage data)
Non-GAAP Reconciliation of ROTCE
20192021202220232024
LTM 3/31/25 (4)
Average Stockholders' Equity (1)
527.8525.5241.9288.9454.4478.6
Average Debt (1)
324.0373.4535.2532.2476.0474.0
Average Cash (1)
(63.4)(93.8)(66.8)(69.3)(75.9)(75.6)
Average Capital Employed788.4805.1710.3751.8854.5877.0
Net Income (Loss)35.8(173.0)(74.1)125.9142.399.4
Plus: Interest Expense, Net18.014.927.334.731.030.2
Plus: Restructuring and Impairment Charges18.070.0——22.622.8
Plus: Tax Valuation on Deferred Tax Assets58.6————
Less: Income Taxes on Interest Expense, Net (2)
(4.7)(3.9)(6.8)(8.7)(8.1)(7.9)
Less: Income Taxes on Restructuring and Impairment Charges (2)
———(5.9)(5.9)
Actual Return on Capital Employed (3)
67.1(33.4)(53.6)151.9181.9138.6
Actual Return on Total Capital Employed Percentage (3)
8.5%(4.1)%(7.5)%20.2%21.3%15.8%
(1)Average stockholder's equity, debt and cash are calculated using the quarter ends and year ends of each respective year.
(2)Tax rate used is the Company's target U.S. marginal tax rate. Rates used were 26% for 2021, 2024 and 2025, 25% for 2022 and 2023.
(3)Return on total capital employed is provided solely as a supplemental disclosure with respect to income generation because management believes it provides useful information with respect to earnings in a form that is comparable to the Company's cost of capital employed, which includes both equity and debt securities, net of cash.
(4)LTM 3/31/25 average stockholders' equity, debt and cash are calculated using the quarters ending 3/31/24, 6/30/24, 9/30/24, 12/31/24 and 3/31/25.



Lift Truck Business
(in millions of $, except percentage data)
Revenues - AmericasRevenues - Americas - % change yr. over yr.
Q1Q2Q3Q4FYQ1Q2Q3Q4FY
2021459.7 479.1 494.3 551.5 1,984.6 2021-16.5 %5.3 %15.8 %20.2 %4.9 %
2022557.7 596.6 571.3 679.8 2,405.4 202221.3 %24.5 %15.6 %23.3 %21.2 %
2023685.9 788.5 716.5 708.4 2,899.3 202323.0 %32.2 %25.4 %4.2 %20.5 %
2024769.7 881.5 771.1 800.2 3,222.5 202412.2 %11.8 %7.6 %13.0 %11.1 %
2025698.9 2025-9.2 %
Revenues - EMEARevenues - EMEA - % change yr. over yr.
Q1Q2Q3Q4FYQ1Q2Q3Q4FY
2021170.7 175.1 153.4 179.7 678.9 202112.2 %45.8 %6.7 %4.1 %15.3 %
2022169.7 184.8 159.4 190.3 704.2 2022-0.6 %5.5 %3.9 %5.9 %3.7 %
2023214.9 200.6 183.9 221.1 820.5 202326.6 %8.5 %15.4 %16.2 %16.5 %
2024199.4 187.8 145.0 175.4 707.6 2024-7.2 %-6.4 %-21.2 %-20.7 %-13.8 %
2025118.2 2025-40.7 %
Revenues - JAPICRevenues - JAPIC - % change yr. over yr.
Q1Q2Q3Q4FYQ1Q2Q3Q4FY
202160.5 65.0 56.1 52.3 233.9 202135.7 %35.4 %16.9 %-0.4 %21.1 %
202251.7 64.9 65.5 67.9 250.0 2022-14.5 %-0.2 %16.8 %29.8 %6.9 %
202347.9 49.6 51.6 52.0 201.1 2023-7.4 %-23.6 %-21.2 %-23.4 %-19.6 %
202437.7 48.7 51.3 46.0 183.7 2024-21.3 %-1.8 %-0.6 %-11.5 %-8.7 %
202547.3 202525.5 %
Revenues - Lift Truck BusinessRevenues - Lift Truck Business - % change yr. over yr.
Q1Q2Q3Q4FYQ1Q2Q3Q4FY
2021690.9 719.2 703.8 783.5 2,897.4 2021-7.6 %15.5 %13.8 %14.6 %8.4 %
2022779.1 846.3 796.2 938.0 3,359.6 202212.8 %17.7 %13.1 %19.7 %16.0 %
2023948.7 1,038.7 952.0 981.5 3,920.9 202321.8 %22.7 %19.6 %4.6 %16.7 %
20241,006.8 1,118.0 967.4 1,021.6 4,113.8 20246.1 %7.6 %1.6 %4.1 %4.9 %
2025864.4 2025-14.1 %
Gross ProfitGross Profit %
Q1Q2Q3Q4FYQ1Q2Q3Q4FY
2021105.4 103.2 66.9 54.4 329.9 202115.3 %14.3 %9.5 %6.9 %11.4 %
202285.9 81.3 74.6 129.2 371.0 202211.0 %9.6 %9.4 %13.8 %11.0 %
2023155.6 177.0 186.0 192.8 711.4 202316.4 %17.0 %19.5 %19.6 %18.1 %
2024215.6 239.4 172.9 191.8 819.7 202421.4 %21.4 %17.9 %18.8 %19.9 %
2025160.8 202518.6 %


Lift Truck Business
(in millions of $, except percentage data)
Operating Expenses(1) (2)
Operating Expenses as a % of revenues(1) (2)
Q1Q2Q3Q4FYQ1Q2Q3Q4FY
202193.2 87.8 88.2 147.6 416.8 202113.5 %12.2 %12.5 %18.8 %14.4 %
202296.693.0 89.8 102.0 381.4 202212.4 %11.0 %11.3 %10.9 %11.4 %
2023107.8114.5 120.9 138.6 481.8 202311.4 %11.0 %12.7 %14.1 %12.3 %
2024126.3136.3 133.9 146.5 543.0 202412.5 %12.2 %13.8 %14.3 %13.2 %
2025130.6202515.1 %
Restructuring & Impairment Charges (1)(2)(3)(4)
Q1Q2Q3Q4FY
2021— — — 55.6 55.6 
2024— — 1.0 16.8 17.8 
20250.2 
Operating Profit (Loss)(1) (2)
Operating Profit (Loss) %(1) (2)
Q1Q2Q3Q4FYQ1Q2Q3Q4FY
202112.2 15.4 (21.3)(93.2)(86.9)20211.8 %2.1 %-3.0 %-11.9 %-3.0 %
2022(10.7)(11.7)(15.2)27.2 (10.4)2022-1.4 %-1.4 %-1.9 %2.9 %-0.3 %
202347.8 62.5 65.1 54.2 229.6 20235.0 %6.0 %6.8 %5.5 %5.9 %
202489.3 103.1 39.0 45.3 276.7 20248.9 %9.2 %4.0 %4.4 %6.7 %
202530.2 20253.5 %
(1)During the fourth quarter of 2021, JAPIC recognized a $55.6 million goodwill impairment charge, of which $11.7 million related to the non-controlling interest share.
(2)During the third quarter and fourth quarter of 2024, Lift Truck recognized restructuring & impairment charges of $1.0 million ($1.0 million in the JAPIC segment) and $16.8 million ($6.8 million in the Americas, $2.4 million in EMEA and $7.6 million in JAPIC), respectively.
(3)Restructuring and impairment charges are included in Operating Expenses as noted above.
(4)During the first quarter of 2025, Lift Truck recognized $0.2 million ($0.7 million in the Americas, ($1.3 million) reversal in EMEA and $0.8 million in JAPIC) of restructuring charges.





Bolzoni
(in millions of $, except percentage data)
RevenuesRevenues - Bolzoni - % change yr. over yr.
Q1Q2Q3Q4FYQ1Q2Q3Q4FY
202179.5 84.8 90.0 93.5 347.8 2021-9.6 %32.1 %42.2 %36.9 %22.6 %
202295.1 86.4 82.2 92.0 355.7 202219.6 %1.9 %-8.7 %-1.6 %2.3 %
202398.6 96.6 92.8 87.3 375.3 20233.7 %11.8 %12.9 %-5.1 %5.5 %
202496.2 102.4 97.6 82.9 379.1 2024-2.4 %6.0 %5.2 %-5.0 %1.0 %
202580.3 2025-16.5 %
Gross Profit (Loss)Gross Profit %
Q1Q2Q3Q4FYQ1Q2Q3Q4FY
202116.4 15.8 15.2 14.1 61.5 202120.6 %18.6 %16.9 %15.1 %17.7 %
202218.8 18.9 13.7 19.3 70.7 202219.8 %21.9 %16.7 %21.0 %19.9 %
202320.7 22.6 19.5 19.4 82.2 202321.0 %23.4 %21.0 %22.2 %21.9 %
202421.8 22.4 23.3 17.9 85.4 202422.7 %21.9 %23.9 %21.6 %22.5 %
202518.5 202523.0 %
Operating Expenses (1)
Operating Expenses as a % of revenues(1)
Q1Q2Q3Q4FYQ1Q2Q3Q4FY
202115.6 16.2 15.2 16.3 63.3 202119.6 %19.1 %16.9 %17.4 %18.2 %
202216.7 15.5 15.0 17.3 64.5 202217.6 %17.9 %18.2 %18.8 %18.1 %
202316.3 17.2 16.6 16.8 66.9 202316.5 %17.8 %17.9 %19.2 %17.8 %
202418.5 18.4 17.1 22.3 76.3 202419.2 %18.0 %17.5 %26.9 %20.1 %
202517.9 202522.3 %
Restructuring & Impairment Charges (1) (2)
Q1Q2Q3Q4FY
2024— — — 4.3 4.3 
Operating Profit (Loss) (1)
Operating Profit (Loss) %(1)
Q1Q2Q3Q4FYQ1Q2Q3Q4FY
20210.8 (0.4)— (2.2)(1.8)20211.0 %-0.5 %— %-2.4 %-0.5 %
20222.1 3.4 (1.3)2.0 6.2 20222.2 %3.9 %-1.6 %2.2 %1.7 %
20234.4 5.4 2.9 2.6 15.3 20234.5 %5.6 %3.1 %3.0 %4.1 %
20243.3 4.0 6.2 (4.4)9.1 20243.4 %3.9 %6.4 %-5.3 %2.4 %
20250.6 20250.7 %
(1)During the fourth quarter of 2024, Bolzoni recognized a $4.3 million restructuring & impairment charge.
(2)Restructuring and impairment charges are included in Operating Expenses as noted above.



Nuvera
(in millions of $, except percentage data)
Revenues
Q1Q2Q3Q4FY
2021— 0.3 0.2 0.2 0.7 
20220.6 0.3 1.2 1.3 3.4 
20231.6 1.0 1.5 0.2 4.3 
20240.5 0.2 0.3 0.4 1.4 
2025— 
Gross Profit (Loss) (1)
Q1Q2Q3Q4FY
2021(3.3)(2.5)(16.5)(4.4)(26.7)
2022(1.9)(1.6)(2.0)(1.7)(7.2)
2023(2.1)(1.8)(1.9)(2.4)(8.2)
2024(2.3)(2.5)(3.0)(1.8)(9.6)
2025(2.0)
Operating Expenses (2) (3)
Q1Q2Q3Q4FY
20216.5 6.5 16.0 6.6 35.6 
20226.2 6.3 7.0 7.6 27.1 
20237.7 7.4 7.5 5.6 28.2 
20247.1 9.0 8.8 6.5 31.4 
20257.9 
Restructuring & Impairment Charges (1) (2) (3) (4)
Q1Q2Q3Q4FY
2021— — 24.8 1.3 26.1 
2024— — 0.2 0.3 0.5 
Operating Profit (Loss) (1) (2) (3)
Q1Q2Q3Q4FY
2021(9.8)(9.0)(32.5)(11.0)(62.3)
2022(8.1)(7.9)(9.0)(9.3)(34.3)
2023(9.8)(9.2)(9.4)(8.0)(36.4)
2024(9.4)(11.5)(11.8)(8.3)(41.0)
2025(9.9)
(1)During the third and fourth quarters of 2021, Nuvera reduced its inventory to its estimated net realizable value by $14.8 million and $1.3 million, respectively.
(2)During the third quarter of 2021, Nuvera recognized a $10.0 million impairment charge of property, plant and equipment.
(3)During the third and fourth quarters of 2024, Nuvera recognized $0.2 million and $0.3 million of restructuring charges, respectively.
(4)Restructuring and impairment charges are included in Gross Profit (Loss) and Operating Expenses as noted above.



v3.25.1
Cover Page Document
May 06, 2025
Document Information [Line Items]  
Entity Registrant Name HYSTER-YALE, INC.
Entity Address, State or Province OH
Entity File Number 000-54799
Entity Address, Address Line One 5875 Landerbrook Drive, Suite 300
Written Communications false
City Area Code (440)
Soliciting Material false
Entity Address, Postal Zip Code 44124-4069
Local Phone Number 449-9600
Entity Address, City or Town Cleveland
Entity Tax Identification Number 31-1637659
Entity Incorporation, State or Country Code DE
Document Period End Date May 06, 2025
Document Type 8-K
Title of 12(b) Security Class A Common Stock, $0.01 par value per share
Pre-commencement Tender Offer false
Pre-commencement Issuer Tender Offer false
Trading Symbol HY
Amendment Flag false
Security Exchange Name NYSE
Entity Central Index Key 0001173514
Entity Emerging Growth Company false
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