Brief: Hyster-Yale Materials Handling Announces Q1 2021 Results

Hyster-Yale

04/05/2021 22:10

May 4 (Reuters) - Hyster-Yale Materials Handling Inc  HY.N :
    * HYSTER-YALE MATERIALS HANDLING ANNOUNCES FIRST QUARTER
2021
RESULTS
    * Q1 EARNINGS PER SHARE $0.33
    * Q1 REVENUE $732.2 MILLION
    * HYSTER-YALE MATERIALS HANDLING - DUE TO SUPPLY CHAIN AND
LOGISTICS CONSTRAINTS, HAS NOT ACHIEVED EVEN PRODUCTION LEVELS
ORIGINALLY PLANNED FOR 2021 Q1
    * HYSTER-YALE MATERIALS HANDLING  - PRODUCTION HEADWINDS
EXPECTED
TO CONTINUE TO PRESENT SIGNIFICANT CHALLENGES FOR PRODUCTION IN
Q2, Q3 OF 2021
    * SIGNIFICANT MATERIAL COST INFLATION AND HIGHER FREIGHT
COSTS ARE
ALSO EXPECTED TO CONTINUE INTO Q2, Q3
    * COMPANY EXPECTS TO EXPERIENCE MARGIN PRESSURE THROUGHOUT
2021
    * HYSTER-YALE MATERIALS HANDLING - EXPECTS OPERATING PROFIT
AND
NET INCOME IN Q2 TO BE SIGNIFICANTLY HIGHER THAN Q2 2020 AND
FIRST-QUARTER 2021 RESULTS
    * EXPECTS TO INCREASE ITS INVESTMENT IN WORKING CAPITAL AND
OTHER
EXPENDITURES TO SUPPORT GROWTH IN ITS BUSINESS

Source text for Eikon:  ID:nPn1F6jh3a 
Further company coverage:  HY.N 

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