Materials handling supplier Hyster-Yale has released its financial results for the fourth quarter and full-year 2024.

Full year revenues, operating profit and net income all exceeded the strong performance of the preceding year, with highlights including Q4 2024 revenue of USD1.1 billion and full year 2024 revenue of USD4.3 billion.

The company’s full year operating profit for 2024 (USD245 million) represented an increase from the previous year, however its Q4 operating profit (USD32 million) represented a 34% decrease from Q4 2023.

In total, the company generated USD171 million of cash from operations in FY 2024, including USD81 million for Q4 2024.

Hyster-Yale says its strong financial performances in 2023 and 2024 are the result of strategic actions it has taken in recent years.

The company says the execution of key strategies, projects and significant process improvements have better positioned it for substantial long-term profitable growth.