Skip to main content
Midas Edge

HYSTER-YALE MATERIALS HANDLING INC

For the period ended Mar 31, 2024. Filed May 7, 2024.

View on SEC.gov

About this filing

A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.

Mar 31, 2024 · Filed May 7, 2024

HY$27.98-3.9%Stored close · as of Nov 10, 2026

Extracted filing text, with the paragraph anchors used by the comparison.

See the whole filing, with its images and exhibits
Contents

Unaudited Condensed Consolidated Balance Sheets

MARCH 312024DECEMBER 312023
(In millions, except share data)
ASSETS
Current Assets
Cash and cash equivalents$62.2$78.8
Accounts receivable, net520.5497.5
Inventories, net841.9815.7
Prepaid expenses and other101.498.1
Total Current Assets1,526.01,490.1
Property, Plant and Equipment, Net311.9313.9
Intangible Assets, Net37.339.3
Goodwill52.053.3
Deferred Income Taxes3.03.0
Investments in Unconsolidated Affiliates52.156.8
Other Non-current Assets136.1122.7
Total Assets$2,118.4$2,079.1
LIABILITIES AND EQUITY
Current Liabilities
Accounts payable$565.9$523.5
Accounts payable, affiliates6.96.7
Revolving credit facilities69.883.3
Short-term debt and current maturities of long-term debt165.3169.4
Accrued payroll51.687.4
Deferred revenue71.177.9
Other current liabilities290.1270.4
Total Current Liabilities1,220.71,218.6
Long-term Debt239.7241.3
Self-insurance Liabilities45.951.1
Pension Obligations4.75.2
Deferred Income Taxes12.312.7
Other Long-term Liabilities165.8143.4
Total Liabilities1,689.11,672.3
Temporary Equity
Redeemable Noncontrolling Interest14.914.8
Stockholders' Equity
Common stock:
Class A, par value $0.01 per share, 14,021,432 shares outstanding (2023 - 13,715,755 shares outstanding)0.10.1
Class B, par value $0.01 per share, convertible into Class A on a one-for-one basis, 3,467,379 shares outstanding (2023 - 3,469,875 shares outstanding)0.10.1
Capital in excess of par value336.9327.7
Treasury stock(9.1)—
Retained earnings302.1256.3
Accumulated other comprehensive loss(218.0)(194.3)
Total Stockholders' Equity412.1389.9
Noncontrolling Interests2.32.1
Total Permanent Equity414.4392.0
Total Liabilities and Equity$2,118.4$2,079.1

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

THREE MONTHS ENDED
MARCH 31
20242023
(In millions, except per share data)
Revenues$1,056.5$999.3
Cost of sales820.8824.9
Gross Profit235.7174.4
Operating Expenses
Selling, general and administrative expenses151.9131.8
Operating Profit83.842.6
Other (income) expense
Interest expense8.910.2
Income from unconsolidated affiliates(1.0)(1.8)
Other, net(1.0)(1.7)
6.96.7
Income Before Income Taxes76.935.9
Income tax expense25.18.7
Net Income51.827.2
Net income attributable to noncontrolling interests(0.2)(0.2)
Net income attributable to redeemable noncontrolling interests0.1(0.2)
Accrued dividend to redeemable noncontrolling interests(0.2)(0.2)
Net Income Attributable to Stockholders$51.5$26.6
Basic Earnings per Share$2.97$1.56
Diluted Earnings per Share$2.93$1.55
Dividends per Share$0.3250$0.3225
Basic Weighted Average Shares Outstanding17.33917.049
Diluted Weighted Average Shares Outstanding17.59217.214

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS)

THREE MONTHS ENDED
MARCH 31
20242023
(In millions)
Net Income$51.8$27.2
Other comprehensive income (loss)
Foreign currency translation adjustment(16.7)11.6
Current period cash flow hedging activity, net of tax(15.1)1.4
Reclassification of hedging activities into earnings, net of tax7.310.9
Reclassification of pension into earnings, net of tax0.80.6
Comprehensive Income$28.1$51.7
Net income attributable to noncontrolling interests(0.2)(0.2)
Net (income) loss attributable to redeemable noncontrolling interests0.1(0.2)
Accrued dividend to redeemable noncontrolling interests(0.2)(0.2)
Foreign currency translation adjustment attributable to noncontrolling interests—(0.2)
Comprehensive Income Attributable to Stockholders$27.8$50.9
ContentsView on SEC.gov

The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.