Hyster-Yale Reports Strong Bookings but Wider Net Loss in Q2
In its second-quarter report, Hyster-Yale (NYSE:HY) showed strong growth in bookings and improved financial metrics like revenue and operating cash flow. The company recorded $680 million in new orders—up 106% year-over-year—and a backlog of $1.58 billion. Management believes the downturn in the lift truck market has bottomed out, with full-year bookings expected to exceed last year's total. Despite these positive signs, Hyster-Yale posted a net loss of $31.6 million for Q2 2026—more than double its loss from the same period in 2025. Revenue declined by 15% compared to the prior-year quarter and operating losses widened. The company also reported negative adjusted EBITDA over the past twelve months, rising income tax expenses due to a valuation allowance charge in Brazil, and ongoing margin pressures caused by customer shifts toward lower-margin products. Tariffs added $20 million in costs year-over-year, with no relief expected as exclusions on Chinese goods expire. Institutional interest has slightly increased, but short sellers still hold 5.13% of the float. The stock trades at a forward P/E of just under 10.
Tickers: $HY
Topics: bookings cash flow improvement losses revenue growth