Hyster-Yale Q2 Loss Widens to $1.76/Share on Tariff Costs, but Bookings Surge and Outlook Improves
HY sits 27% above its 52-week low of $26.405.
Summary
Hyster-Yale posted a wider Q2 loss of $1.76 per share on lower revenues and tariff costs, but bookings surged and the company guided for improving results in the second half of 2026.
Key Events · Earnings and Guidance · HY
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Q2 Loss Widens
Net loss attributable to stockholders was $31.6 million, or $1.76 per share, compared to a loss of $13.9 million, or $0.79 per share, in Q2 2025. Revenue fell 15% to $812.9 million.
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Tariff Recovery Partially Offsets Costs
The company recognized $35 million in IEEPA tariff recoveries in cost of sales, but still faced approximately $20 million in additional tariff-related costs versus the prior year quarter.
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Bookings Surge Signals Demand Recovery
Lift truck bookings more than doubled year-over-year to approximately $680 million, the fourth consecutive quarter of growth and the strongest in three years, driven by the Americas.
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Brazilian Tax Valuation Allowance
A discrete tax charge of $3.4 million was recorded to establish a full valuation allowance against Brazilian deferred tax assets, reflecting cumulative losses and a declining forecast.
Analysis · HY · Technology
A 15% revenue decline and elevated tariff costs pushed Hyster-Yale's second-quarter loss to $31.6 million, or $1.76 per share, even as a $35 million IEEPA tariff recovery provided a partial offset. The lift truck market continues to grapple with a mix shift toward lower-margin products, yet bookings more than doubled from a year ago — the fourth straight quarter of growth — signaling a demand recovery. Management now expects a moderate full-year operating loss, with the strongest improvement in the latter part of 2026 as production ramps and cost actions take hold. A $3.4 million Brazilian tax valuation allowance adds a non-cash headwind, but the company maintains ample liquidity with $200 million in revolver availability.
At the time of this filing, HY was trading at $33.51 on NYSE in the Technology sector, with a market capitalization of approximately $629.4M. The 52-week trading range was $26.41 to $42.33. This filing was assessed with negative market sentiment and an importance score of 8 out of 10.