Hyster-Yale Reports 13.7% Q1/17 Increase in Lift Truck Shipments



Hyster-Yale Materials Handling reported consolidated revenues of $713.1 million and consolidated net income of $18.1 million for Q1/17 compared with consolidated revenues of $604.2 million and net income of $10.0 million for Q1/16.

Consolidated operating profit was $23.4 million for Q1/17 compared with $9.7 million for Q1/16.  The prior year first quarter net income includes a tax benefit of $4.0 million associated with the Bolzoni acquisition.

The lift truck business reported net income of $22.3 million and revenues of $672.2 million for Q1/17 compared with net income of $13.7 million and revenues of $603.9 million for Q1/16. Lift truck operating profit was $30.6 million for Q1/17 compared with $15.8 million for Q1/16.

Consolidated worldwide new unit shipments increased by 13.7% to approximately 23,300 units in Q1/17 from approximately 20,500 units in Q1/16.

Q1/17 bookings were approximately 23,700 units, or approximately $550 million, compared with approximately 23,500 units, or approximately $490 million, in Q1/16. Worldwide backlog was approximately 30,000 units, or approximately $710 million, at March 31, 2017 compared with approximately 29,900 units, or approximately $670 million, at March 31, 2016 and approximately 29,600 units, or approximately $710 million, at December 31, 2016.


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