Hyster-Yale Targets $100 Million Annual Cost Reductions by 2029 and Shifts Strategic Focus
Hyster-Yale Materials Corp (HY) has announced a strategic restructuring plan aimed at achieving at least $100 million in annual cost savings by 2029. As part of this optimization, the company is pausing its terminal tractor operations and ending its hydrogen-related programs to streamline its portfolio. During the Q3 2026 earnings call, management reported sequential improvements in financial performance. The company recorded revenue of $827 million and an adjusted EBITDA of $6 million, supported by a robust backlog of approximately $1.6 billion and bookings totaling $550 million.
Tickers: $HY