Revenue declined to $795 million in the quarter
Hyster-Yale’s first-quarter results reflected a challenging lift truck market, with revenue declining to $795 million.
The decrease was driven primarily by the normalization of excess backlog and a mix shift toward lighter-duty, lower-priced trucks.
The company reported an adjusted operating loss of $26 million, including approximately $30 million of gross tariff costs.
Management expects the second quarter to mark the low point for operating profit and anticipates profitability in the second half of the year.