Hyster-Yale Materials Handling (HY) Q3 Earnings: What To Expect

Lift truck and material handling solutions manufacturer Hyster-Yale Materials Handling (NYSE:HY) will be announcing earnings results tomorrow before the bell. Here’s what you need to know.

Hyster-Yale Materials Handling beat analysts’ revenue expectations by 3.5% last quarter, reporting revenues of $1.12 billion, up 2.5% year on year. It was an incredible quarter for the company, with an impressive beat of analysts’ earnings and EBITDA estimates.

Is Hyster-Yale Materials Handling a buy or sell going into earnings? Read our full analysis here, it’s free.

This quarter, analysts are expecting Hyster-Yale Materials Handling’s revenue to grow 5.5% year on year to $1.06 billion, slowing from the 19.2% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $1.99 per share.

The majority of analysts covering the company have reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Hyster-Yale Materials Handling has a history of exceeding Wall Street’s expectations, beating revenue estimates every single time over the past two years by 5.4% on average.

Looking at Hyster-Yale Materials Handling’s peers in the professional tools and equipment segment, some have already reported their Q3 results, giving us a hint as to what we can expect. ESAB’s revenues decreased 1.1% year on year, beating analysts’ expectations by 8.5%, and Snap-on reported flat revenue, topping estimates by 7.8%. ESAB traded up 12.6% following the results while Snap-on was also up 9.4%.

Read our full analysis of ESAB’s results here and Snap-on’s results here.

Investors in the professional tools and equipment segment have had steady hands going into earnings, with share prices flat over the last month. Hyster-Yale Materials Handling is down 6.8% during the same time and is heading into earnings with an average analyst price target of $79.50 (compared to the current share price of $62.02).

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