Hyster-Yale reports Q1 revenue fall

News Story
- 8 May 2025 ( #1229 ) - Cleveland, OH, United States
2 min read
Hyster-Yale revenues drop in Q1
Hyster-Yale revenues drop in Q1

Hyster-Yale reports Q1 revenues for its Lift Truck business were USD910.4 million, a 14% fall year-on-year (y-o-y) decline and a 15% quarter-on-quarter drop.

Lift Truck revenue in the Americas for the quarter were USD698.9 million, a fall of 9% y-o-y and 13% q-o-q while revenue for the EMEA region was USD118.2 million, a sharp 41% y-o-y and 33% q-o-q decline.

The JAPIC (Japan, Asia Pacific and China) region bucked the trend recording revenue of USD47.3 million in Q1, a 25% y-o-y increase, but a 3% q-o-q dip.

“The decline [in the Americas and EMEA] was in line with the company's expectations and was due to reduced lift truck market demand and bookings levels in the second half of 2024,” Hyster-Yale states.

The company notes the reduces sales in the Americas was particularly notable for higher-value Class 4 and Class 5 internal combustion engine forklifts while EMEA product revenues declined y-o-y primarily due to lower Class 1 product sales.

“Sequentially, Lift Truck revenues declined largely due to reduced bookings during the latter part of 2024,” the company notes. “This decline subsequently led to decreased production in Q1 2025.”

Hyster-Yale subsidiary Bolzoni also followed the trend recording lower revenues for the quarter, falling to USD80.3 million, down 17% y-o-y and a dip of 5% q-o-q.

“Bolzoni's revenues declined primarily due to the planned phase-out of lower-margin legacy products,” Hyster-Yale states. “Gross profit margins improved versus prior year due to improved pricing and lower material costs, while reduced volumes negatively impacted gross profit.” 

Meanwhile, Hyster-Yale has announced a “strategic business realignment” of its Nuvera fuel cell business to create an integrated energy solutions program at Nuvera's Billerica facility, which is to become part of its Hyster-Yale Materials Handling (HYMH) business.

HYMH says the development of lithium-ion batteries and management systems “are critical [to its] success with the next generation of batteries expected to be used broadly in electric forklift trucks”.

The new program will also look at the development, manufacturing and commercialisation of a mobile, modular and scalable hybrid electric charging platform to provide off-grid power solutions using HYMH's battery solutions

“This strategic alignment is expected to achieve, beginning in the second half of 2025, direct annualised cost reductions of USD15 to USD20 million,” the company states. “And indirect cost reductions of USD10 to USD15 million by absorbing Nuvera resources into open positions focused on accelerating development of its battery products and services and mobile charging platform as well as other HYMH immediate needs.”

Hyster-Yale says battery program sales are expected to “accelerate substantially from 2024 levels in 2025 and in following years”. 

It adds that the strategic realignment has been designed to transform Hyster-Yale’s historical core counterbalance forklift business “while building new business opportunities in the warehouse forklift truck market, automation, energy management, and attachment activities through its HYMH and Bolzoni businesses”. 

Raymond Corporation opens energy research centre
Raymond Corporation opens energy research centre 22 May 2025 - Finger Lakes, NY, United States - 1 min read
EP Equipment introduces repurposed forklift range
EP Equipment introduces repurposed forklift range 1 May 2025 - Hangzhou, China - 1 min read
Toyota signs Thai MoU
Toyota signs Thai MoU 3 Apr 2025 - Bangkok, Thailand - 1 min read
Previously about:
Bolzoni cutting-edge solutions for appliance handling Advertisement - 10 Apr 2025 - 3 min read
Movers & Shakers News Story - 18 Jul 2024 - 1 min read
Wrapping up our ProMat 2025 coverage News Story - 17 Apr 2025 - Chicago, IL, United States - 5 min read
Yale names authorised Indiana dealer News Story - 6 Mar 2025 - Greenville, NC, United States - 1 min read
Hyster-Yale reports solid Q4 performance News Story - 27 Feb 2025 - Cleveland, OH, United States - 1 min read
Nuvera opens Netherland office News Story - 30 Nov 2023 - Nijmegen, Netherlands - 1 min read
Briefs News Story - 9 Nov 2023 - 1 min read
Nuvera adds 45 kW engine News Story - 5 Sep 2019 - Billerica, MA, United States - 1 min read
Do you have materials handling news? Submit your news here

PREMIUM business

F. Uchiyama
Global exporter of used forklift and construction machinery, servicing over 80 countries.

Transparent, effective, accountable. With Forkliftaction advertising you will know exactly what to expect before the start of your next campaign.

Tell us your objectives and we’ll propose a competitively priced, brand-centred campaign with your CPM* fixed at the campaign’s start. Geo-targeted campaigns available!

For audience statistics and a concise overview of our advertising offer DOWNLOAD our Media Kit.

* CPM = Cost-Per-Thousand impressions 

Words of support …

Thanks to advertising with Forkliftaction, GemOne has experienced a significant enhancement in our online presence. Working with Forkliftaction has enabled us to boost engagement with our targeted audience, resulting in an increase in information requests and downloads of valuable materials from our website. Forkliftaction has consistently delivered outstanding results, helping us to effectively connect with the right audience.

Justine Lootens, CEO - GemOne

Are you recruiting? Find your ideal candidate among a diverse range of materials handling professionals:

Forkliftaction's JOB MARKET

Transparent, effective, accountable. With Forkliftaction advertising you will know exactly what to expect before the start of your next campaign.

Tell us your objectives and we’ll propose a competitively priced, brand-centred campaign with your CPM* fixed at the campaign’s start. Geo-targeted campaigns available!

For audience statistics and a concise overview of our advertising offer DOWNLOAD our Media Kit.

* CPM = Cost-Per-Thousand impressions 

Your Focus

PREMIUM business

VETTER Forks, Inc.
The world's most comprehensive product range as well as the most intelligent sensor fork for more safety and efficiency.

Are you recruiting? Find your ideal candidate among a diverse range of materials handling professionals:

Forkliftaction's JOB MARKET

Inside The News
In this week’s Forkliftaction News we look at HD Hyundai XiteSolution’s plans to be the first Korean company to launch medium and heavy-duty electric forklifts to the market, in a move which shows electrification continues to gain momentum throughout the sector internationally... Continue reading

PREMIUM business

GemOne
Telematics for industrial fleets. Fleet & safety management solutions: track vehicles, boost efficiency, operate safer, & avoid unexpected downtime.

Are you recruiting? Find your ideal candidate among a diverse range of materials handling professionals:

Forkliftaction's JOB MARKET

Transparent, effective, accountable. With Forkliftaction advertising you will know exactly what to expect before the start of your next campaign.

Tell us your objectives and we’ll propose a competitively priced, brand-centred campaign with your CPM* fixed at the campaign’s start. Geo-targeted campaigns available!

For audience statistics and a concise overview of our advertising offer DOWNLOAD our Media Kit.

* CPM = Cost-Per-Thousand impressions