Lift truck and material handling solutions manufacturer Hyster-Yale Materials Handling (NYSE: HY) will be announcing earnings results tomorrow after the bell. Here’s what to expect.
Hyster-Yale Materials Handling beat analysts’ revenue expectations by 4.4% last quarter, reporting revenues of $1.07 billion, up 3.9% year on year. It was an exceptional quarter for the company, with a solid beat of analysts’ EBITDA estimates and a decent beat of analysts’ EPS estimates.
Is Hyster-Yale Materials Handling a buy or sell going into earnings? Read our full analysis here, it’s free.
This quarter, analysts are expecting Hyster-Yale Materials Handling’s revenue to decline 10.3% year on year to $947.8 million, a reversal from the 5.7% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.49 per share.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Hyster-Yale Materials Handling has only missed Wall Street’s revenue estimates once over the last two years, exceeding top-line expectations by 4.6% on average.
Looking at Hyster-Yale Materials Handling’s peers in the professional tools and equipment segment, some have already reported their Q1 results, giving us a hint as to what we can expect. ESAB’s revenues decreased 1.7% year on year, beating analysts’ expectations by 2.2%, and Hillman reported revenues up 2.6%, falling short of estimates by 0.5%. ESAB traded up 3.1% following the results while Hillman was down 7.5%.
Read our full analysis of ESAB’s results here and Hillman’s results here.
There has been positive sentiment among investors in the professional tools and equipment segment, with share prices up 13% on average over the last month. Hyster-Yale Materials Handling is up 11.3% during the same time and is heading into earnings with an average analyst price target of $72.50 (compared to the current share price of $40.33).
Unless you’ve been living under a rock, it should be obvious by now that generative AI is going to have a huge impact on how large corporations do business. While Nvidia and AMD are trading close to all-time highs, we prefer a lesser-known (but still profitable) semiconductor stock benefiting from the rise of AI. Click here to access our free report on our favorite semiconductor growth story.
