The severe miss and tariff headwinds suggest continued pressure on margins and cash flow in Q2. Watch for Q2 tariff cost escalation and any guidance updates; the stock may remain under pressure until signs of H2 recovery materialize.
Price Chart
Executive Summary
Hyster-Yale reported a sharp Q1 2026 earnings miss, with revenue falling 13% YoY to $795M (consensus $921.5M) and EPS of -$1.64 (consensus -$1.17, -40% miss), driven by ~$30M in tariff costs and a shift to lower-margin trucks. Management expects first-half losses but a modest full-year operating profit, though the outlook remains uncertain with tariffs persisting.
Key Financial Metrics
Key Facts
- Q1 2026 revenue $795M, down 12.7% YoY vs $910M
- GAAP net loss of $31M vs $9M profit in Q1 2025
- Adjusted operating loss of $26.4M vs $21.5M profit a year ago
- EPS -$1.64 missed consensus of -$1.17 by 40.2%
- Revenue missed $921.5M consensus by 13.7%
- ~$30M in gross tariff costs weighed on results
- Unit bookings up 7% QoQ to $580M, backlog $1.4B
- Net debt $424M, up $17M YoY; leverage elevated
- Company expects moderate full-year operating profit with H2 improvement
Financial Impact
Q1 revenue shortfall of $126.5M vs consensus; EPS shortfall of $0.47 vs consensus; tariff costs of ~$30M
Risk Factors
- Further tariff escalation or inability to pass through costs
- Continued shift to lower-margin truck mix
- High leverage (Net Debt / Adj. EBITDA 19.1x) limits financial flexibility
- Weakening demand in key end markets
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 6 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001173514-26-000119 |
| Document: hy-20260506.htm | 0001173514-26-000119 |
| Document: 0001173514-26-000119-index-headers.html | 0001173514-26-000119 |
| Document: 0001173514-26-000119-index.html | 0001173514-26-000119 |
| Document: 0001173514-26-000119.txt | 0001173514-26-000119 |
| 8-K Data (Synthetic) | 0001173514-26-000119 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 15, 2026 11d ago | 8-K | $29.21 | awaiting T+60 | — | $28.83 (−1.30%) |
Oct 1, 2026 25d ago | Press Release | $30.42 | awaiting T+60 | — | $28.83 (−5.23%) |
Sep 17, 2026 5w ago | Press Release | $33.29 | awaiting T+60 | — | $28.83 (−13.40%) |
Aug 12, 2026 10w ago | Press Release | $34.25 | awaiting T+60 | — | $28.83 (−15.82%) |
Aug 12, 2026 10w ago | Press Release | $34.25 | awaiting T+60 | — | $28.83 (−15.82%) |
Aug 4, 2026 11w ago | 8-K | $40.47 | awaiting T+60 | — | $28.83 (−28.76%) |
Aug 4, 2026 11w ago | 8-K | $40.47 | awaiting T+60 | — | $28.83 (−28.76%) |
Jun 17, 2026 18w ago | Insider Cluster | $37.35 $33.61 | ▼ −10.01% | ▼ −13.16% | $28.83 (−22.81%) |
Jun 17, 2026 18w ago | Insider Cluster | $37.35 $33.61 | ▼ −10.01% | ▼ −13.16% | $28.83 (−22.81%) |
May 19, 2026 22w ago | Press Release | $31.00 $34.39 | ▲ +10.94% | ▲ +4.65% | $28.83 (−7.00%) |
US Market Status
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