Hyster-Yale Reports Rising Bookings Amid Ongoing Market Recovery

Revenue reached $812.9 million, a slight sequential increase as higher bookings began to convert into shipments. The company attributes the year-over-year revenue decline to lower shipment volumes and a shift in customer preference toward lower-priced, lighter-duty models. While these standard and value-tier products have successfully captured market share, they have not yet offset the impact of higher tariff costs and an unfavorable product mix that weighed on profitability.

Operating cash flow saw a positive turnaround, reaching $17 million compared to a $33 million usage in the first quarter. This improvement stems from disciplined inventory management and working capital efficiency. The company continues to navigate a challenging environment marked by geopolitical uncertainty and Section 232 and 301 tariff pressures. Management expects the first half of 2026 to represent the bottom of the current market cycle, with performance projected to strengthen as production volumes rise and cost-reduction programs, initiated in 2025, fully materialize.