Q1 2025 Hyster-Yale Inc Earnings Call Transcript

Key Points

Positve

Hyster Yale Inc (HY) is confident in its ability to drive substantial long-term growth and profitability despite current economic challenges.
The company has implemented proactive pricing strategies to offset inflation and tariff-related costs.
Hyster Yale Inc (HY) is leveraging strategic initiatives to strengthen its business across all economic environments.
The company has a strong $1.9 billion backlog, indicating solid demand and future revenue potential.
The strategic realignment related to Nuvera is expected to deliver direct annualized cost savings of $15 million to $20 million starting in the second half of 2025.

Negative

The global economic landscape has become more uncertain due to shifting tariff policies, impacting market demand and cost structures.
Lift Truck revenues declined by 14% year-over-year in Q1 2025, primarily due to lower sales volumes in the Americas and EMEA.
Operating profit is expected to decline moderately in Q2 2025 due to the timing of tariff-related cost increases.
Bolzoni's 2025 operating profit is projected to fall below 2024 levels due to lower legacy product sales and weaker demand.
Nuvera's operating loss increased year-over-year, driven by higher research and development expenses and lower US Department of Defense funding.

Operator

Good morning, ladies and gentlemen, and welcome to the Hyster-Yale Inc. First Quarter 2025 Earnings Call. (Operator Instructions). This call is being recorded on Wednesday, May 7, 2025.

I would now like to turn the conference call over to Andrea Sejba. Please go ahead.

Andrea Sejba

Hyster-Yale Inc - Director - Investor Relations and Treasury

Good morning, and thank you for joining us for Hyster-Yale's First Quarter 2025 Earnings Call. I'm Andrea Sejba, Director of Investor Relations and Treasury. Joining me today are Al Rankin, Executive Chairman; Rajiv Prasad, President and Chief Executive Officer; and Scott Minder, Senior Vice President, Chief Financial Officer and Treasurer.

During our call, we will be discussing our first quarter 2025 earnings release issued yesterday. You can find the earnings release and a replay of this webcast on Hyster-Yale website. The replay will remain available for approximately 12 months. Today's conference call contains forward-looking statements, which are subject to risks that could cause actual results to

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