Hyster-Yale Materials Handling (HYMH) announced that revenues and net income increased in Q2/14 compared with Q2/13 primarily as a result of an increase in unit volumes, mainly in North America and Europe, partially offset by decreases in Latin America and Brazil.

HYMH said in Q2/14, worldwide new unit shipments increased to approximately 21,700 units from shipments of approximately 20,900 units in the second quarter of 2013 and approximately 20,600 units in the first quarter of 2014. Worldwide backlog was approximately 28,800 units at June 30, 2014, or approximately $745 million, compared with approximately 29,300 units at June 30, 2013, or approximately $700 million, and approximately 28,900 units, or approximately $715 million, at March 31, 2014.

In its outlook, HYMH said the global market for forklift trucks is expected to grow moderately during the remainder of 2014 compared with 2013. Generally, this growth is expected to be concentrated in developed western markets and China, and is expected to be partially offset by weakening in certain developing markets. As a result of this anticipated global market growth, combined with expected increases in market share, the Company anticipates an overall increase in unit shipments and parts volumes and, as a result, increased sales over the remainder of 2014 compared with 2013.

The majority of this increase is expected to come from North America and Western Europe, with smaller increases in the Asia-Pacific unit shipments. The company expects that, in particular, weakening markets in Latin America, including Brazil, as well as Eastern Europe will only partially offset growth in the company’s significant western developed markets.

To view the full Hyster-Yale Materials Handling news release, click here.