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Dec 31, 2025
Hyster-Yale Q4 2025 Earnings Report
Hyster-Yale reported lower fourth quarter 2025 revenue and a net loss, as tariffs and reduced shipment volumes weighed on operating performance despite improved bookings and cash flow.
Key Takeaways
Fourth quarter 2025 revenue declined year-over-year due to weaker shipments and tariff headwinds, resulting in an operating loss and net loss. However, bookings improved significantly sequentially and year-over-year, and operating cash flow strengthened.
Revenue declined 14% year-over-year to 923200000 due to lower shipment volumes.
Operating loss of 37200000 driven by reduced volumes and approximately 40000000 in gross tariff costs.
Net loss totaled 52500000 compared to net income in the prior year period.
Bookings increased 35% year-over-year and 42% sequentially, signaling potential demand recovery.
Revenue by Segment
Revenue by Geographic Location
Forward Guidance
The company expects moderate operating profit for full-year 2026, with a slight loss in the first half and stronger revenue and profitability in the second half as bookings improve and backlog rebuilds.
Positive Outlook
- Bookings expected to continue improving through 2026.
- Shipment volumes anticipated to increase in the second half of 2026.
- Cost-reduction programs targeting 40000000 to 45000000 in annualized savings beginning in 2026.
- Manufacturing footprint optimization expected to generate additional long-term savings.
- Strong focus on working capital efficiency and cash generation.
Challenges Ahead
- Tariffs expected to remain a significant financial headwind in 2026.
- Margins under pressure due to shift toward lower-priced products.
- First half of 2026 expected to generate a slight operating loss.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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