Hyster-Yale, Inc. reported a consolidated net loss of $13.9 million, or $(0.79) per diluted share, for the second quarter of 2025. This marks a significant decline from a net income of $63.3 million in the prior-year quarter. The company also posted an operating loss of $8.5 million, a substantial decrease from an operating profit of $95.6 million in Q2 2024.
Consolidated revenues for the quarter decreased by 18% year-over-year to $956.6 million. The Lift Truck business saw revenues decline by 19% due to lower volumes across all product lines and a shift towards lower average revenue Class 3 products. Gross profit decreased by 38% year-over-year.
Lift Truck bookings significantly contracted to $330 million, a 44% sequential decline from Q1 2025, reflecting increased tariff-related uncertainty and cautious customer behavior. The backlog stood at $1.65 billion, down 14% sequentially and 36% year-over-year, as shipments exceeded bookings.
The company's full-year 2025 operating profit is now projected to decline relative to prior guidance, reflecting the near-term effects of reduced bookings, lower production volumes, and potential tariff costs. However, the recently signed 'One Big Beautiful Bill Act' (OBBBA) is expected to have a favorable impact on tax expense in the second half of 2025, which could partially offset some adverse changes.
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