HYSTER-YALE INC

For the period ended Jun 30, 2024. Filed Aug 6, 2024.

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.

Jun 30, 2024 · Filed Aug 6, 2024

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

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Contents

Unaudited Condensed Consolidated Balance Sheets

	JUNE 302024	DECEMBER 312023
(In millions, except share data)
ASSETS
Current Assets
Cash and cash equivalents	$66.5	$78.8
Accounts receivable, net	578.7	497.5
Inventories, net	790.7	815.7
Prepaid expenses and other	93.4	98.1
Total Current Assets	1,529.3	1,490.1
Property, Plant and Equipment, Net	311.0	313.9
Intangible Assets, Net	35.9	39.3
Goodwill	51.6	53.3
Deferred Income Taxes	2.7	3.0
Investments in Unconsolidated Affiliates	52.6	56.8
Other Non-current Assets	132.8	122.7
Total Assets	$2,115.9	$2,079.1
LIABILITIES AND EQUITY
Current Liabilities
Accounts payable	$506.7	$523.5
Accounts payable, affiliates	6.8	6.7
Revolving credit facilities	108.3	83.3
Short-term debt and current maturities of long-term debt	145.1	169.4
Accrued payroll	67.0	87.4
Deferred revenue	66.2	77.9
Other current liabilities	271.5	270.4
Total Current Liabilities	1,171.6	1,218.6
Long-term Debt	248.5	241.3
Self-insurance Liabilities	36.3	51.1
Pension Obligations	4.6	5.2
Deferred Income Taxes	11.7	12.7
Other Long-term Liabilities	161.1	143.4
Total Liabilities	1,633.8	1,672.3
Temporary Equity
Redeemable Noncontrolling Interest	14.2	14.8
Stockholders' Equity
Common stock:
Class A, par value $0.01 per share, 14,030,000 shares outstanding (2023 - 13,715,755 shares outstanding)	0.1	0.1
Class B, par value $0.01 per share, convertible into Class A on a one-for-one basis, 3,465,026 shares outstanding (2023 - 3,469,875 shares outstanding)	0.1	0.1
Capital in excess of par value	345.1	327.7
Treasury stock	(9.1)	—
Retained earnings	359.3	256.3
Accumulated other comprehensive loss	(229.8)	(194.3)
Total Stockholders' Equity	465.7	389.9
Noncontrolling Interests	2.2	2.1
Total Permanent Equity	467.9	392.0
Total Liabilities and Equity	$2,115.9	$2,079.1

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

THREE MONTHS ENDED · SIX MONTHS ENDED
	JUNE 30		JUNE 30
	2024	2023	2024	2023
(In millions, except per share data)
Revenues	$1,168.1	$1,090.6	$2,224.6	$2,089.9
Cost of sales	908.8	892.7	1,729.6	1,717.6
Gross Profit	259.3	197.9	495.0	372.3
Operating Expenses
Selling, general and administrative expenses	163.7	139.1	315.6	270.9
Operating Profit	95.6	58.8	179.4	101.4
Other (income) expense
Interest expense	8.8	8.4	17.7	18.6
Income from unconsolidated affiliates	(2.1)	(3.1)	(3.1)	(4.9)
Other, net	(1.1)	2.7	(2.1)	1.0
	5.6	8.0	12.5	14.7
Income Before Income Taxes	90.0	50.8	166.9	86.7
Income tax expense	26.1	12.0	51.2	20.7
Net Income	63.9	38.8	115.7	66.0
Net income attributable to noncontrolling interests	(0.2)	—	(0.4)	(0.2)
Net income attributable to redeemable noncontrolling interests	(0.1)	(0.2)	—	(0.4)
Accrued dividend to redeemable noncontrolling interests	(0.3)	(0.3)	(0.5)	(0.5)
Net Income Attributable to Stockholders	$63.3	$38.3	$114.8	$64.9
Basic Earnings per Share	$3.62	$2.23	$6.60	$3.80
Diluted Earnings per Share	$3.58	$2.21	$6.51	$3.76
Dividends per Share	$0.3500	$0.3250	$0.6750	$0.6475
Basic Weighted Average Shares Outstanding	17.493	17.164	17.406	17.099
Diluted Weighted Average Shares Outstanding	17.659	17.307	17.631	17.265

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME

THREE MONTHS ENDED · SIX MONTHS ENDED
	JUNE 30		JUNE 30
	2024	2023	2024	2023
(In millions)
Net Income	$63.9	$38.8	$115.7	$66.0
Other comprehensive income (loss)
Foreign currency translation adjustment	(9.3)	(6.0)	(26.0)	5.6
Current period cash flow hedging activity, net of tax	(11.3)	(2.9)	(26.4)	(1.5)
Reclassification of hedging activities into earnings, net of tax	7.9	4.4	15.2	15.3
Reclassification of pension into earnings, net of tax	0.9	0.8	1.7	1.4
Comprehensive Income	$52.1	$35.1	$80.2	$86.8
Net income attributable to noncontrolling interests	(0.2)	—	(0.4)	(0.2)
Net income attributable to redeemable noncontrolling interests	(0.1)	(0.2)	—	(0.4)
Accrued dividend to redeemable noncontrolling interests	(0.3)	(0.3)	(0.5)	(0.5)
Foreign currency translation adjustment attributable to noncontrolling interests	0.1	0.3	0.1	0.1
Comprehensive Income Attributable to Stockholders	$51.6	$34.9	$79.4	$85.8

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.