Hyster-Yale (HY) Q1 2026 Earnings Transcript

Motley Fool Transcribing, The Motley Fool

Wed, May 6, 2026 astatine 11:27 AM CDT 24 min read

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DATE

Wednesday, May 6, 2026 astatine 11 a.m. ET

CALL PARTICIPANTS

• Executive Chairman — Alfred Marshall Rankin

• President and Chief Executive Officer — Rajiv K. Prasad

• Director of Investor Relations and Treasury — Andrea Saba

Full Conference Call Transcript

Andrea Saba: Good morning, and convey you for joining america for Hyster-Yale Materials Handling, Inc.'s First Quarter 2026 Earnings Call. I americium Andrea Saba, Director of Investor Relations and Treasury. Joining maine contiguous are Alfred Marshall Rankin, Executive Chairman, and Rajiv K. Prasad, President and Chief Executive Officer. Yesterday, we filed our archetypal 4th 2026 net release, which provides a elaborate overview of our fiscal results and performance. Today’s treatment is intended to supplement that merchandise by offering further insights and context. The net release, on with a replay of this webcast, is disposable connected the Hyster-Yale Materials Handling, Inc. website wherever the replay volition stay accessible for astir 12 months.

Before we begin, I would similar to punctual you that today’s telephone includes forward-looking statements that are taxable to risks and uncertainties which could origin existent results to disagree materially from those expressed oregon implied. These risks are described successful our net merchandise and SEC filings. We volition besides notation adjusted fiscal measures, which we judge supply utile supplemental accusation to GAAP results. Reconciliations to the astir straight comparable GAAP measures are included successful our net merchandise and capitalist presentation. I volition commencement with a little overview of our archetypal 4th show and outlook, past crook the telephone implicit to Rajiv to sermon operations with a strategical update for the business.

During the archetypal quarter, bookings improved sequentially, expanding 7% from the 4th fourth arsenic we moved from the cyclical debased reached successful 2025. Backlog accrued modestly though shipments person not yet reflected this improvement. From a currency perspective, operating currency travel followed emblematic seasonal patterns with $33 cardinal of currency utilized successful operations, representing a flimsy betterment compared to the aforesaid play past year. Inventory absorption continued to amended with meaningful year-over-year reductions from amended alignment of accumulation with demand. Finished goods inventory declined compared to past year, improving ratio and positioning america for higher accumulation aboriginal successful 2026. Revenue declined to $795 million, driven chiefly by the normalization of excess backlog and a displacement towards lighter-duty, lower-priced trucks.