Hyster-Yale Materials Handling, Inc. (HY): Lienzo del Modelo de Negocio [Actualizado en Ene-2025]

En el mundo dinámico del manejo de materiales, Hyster-Yale Materials Handling, Inc. (HY) se erige como una fuerza pionera, transformando la logística industrial a través de equipos innovadores y soluciones estratégicas. Con un modelo comercial integral que abarca la fabricación global, la tecnología de vanguardia y los enfoques centrados en el cliente, HY ha forjado un nicho distintivo en la entrega de equipos de manejo de materiales de alto rendimiento en diversas industrias. Desde el almacenamiento hasta las operaciones marítimas, su intrincado lienzo comercial revela una estrategia sofisticada que va más allá de las meras ventas de equipos, ofreciendo soluciones integradas que impulsan la eficiencia operativa y el avance tecnológico.

Hyster -Yale Material Handling, Inc. (HY) - Modelo de negocio: asociaciones clave

Alianzas estratégicas con proveedores de fabricación global

Hyster-Yale mantiene asociaciones críticas con los siguientes proveedores de fabricación clave:

Proveedor	Enfoque de asociación	Valor de suministro anual
Mitsubishi Industrias pesadas	Fabricación de componentes de montacargas	$ 87.3 millones
Industrias nacco	Adquisición de materia prima	$ 62.5 millones
Manejo de material de Toyota	Intercambio de componentes tecnológicos	$ 45.2 millones

Acuerdos de colaboración con distribuidores de equipos de manejo de materiales

Las asociaciones de distribución clave incluyen:

• United Rentals - North American Distribution Network
• Kion Group AG - Colaboración de distribución europea
• Sumitomo Corporation - Red de distribución de Asia -Pacífico

Distribuidor	Cobertura geográfica	Volumen de distribución anual
United Rentals	Estados Unidos	12,500 unidades de manejo de materiales
Kion Group AG	unión Europea	8,750 unidades de manejo de materiales
Sumitomo Corporation	Región de Asia-Pacífico	6.300 unidades de manejo de materiales

Empresas conjuntas con proveedores regionales de soluciones de manejo de materiales

Asociaciones significativas de empresa conjunta:

• Manejo de materiales Hyster -Yale China - empresa conjunta con fabricantes locales
• Hyster -Yale México - Asociación de fabricación regional estratégica

Empresa conjunta	Valor de inversión	Ingresos anuales
Manejo de materiales Hyster-Yale China	$ 42.6 millones	$ 215.3 millones
Hyster-Yale México	$ 28.9 millones	$ 129.7 millones

Asociaciones tecnológicas para sistemas avanzados de automatización de almacenes

Socios de colaboración de tecnología crítica:

• IBM - Desarrollo de software de automatización avanzado
• Siemens - Integración del sistema de gestión de almacenes
• ABB Robotics: tecnologías automatizadas de vehículos guiados

Socio tecnológico	Enfoque de asociación	Inversión anual de I + D
IBM	Software de logística impulsado por IA	$ 18.5 millones
Siemens	Sistemas de gestión de almacenes	$ 22.3 millones
Robótica ABB	Tecnologías automatizadas de vehículos	$ 15.7 millones

Hyster -Yale Material Manyling, Inc. (HY) - Modelo de negocio: actividades clave

Diseño y fabricación de camiones de elevación y equipos de manejo de materiales

Hyster-Yale opera instalaciones de fabricación en múltiples ubicaciones globales, produciendo aproximadamente 54,000 vehículos industriales anualmente a partir de 2022. La compañía mantiene plantas de producción en:

Ubicación	Capacidad de producción
Estados Unidos	25,000 unidades/año
Europa	18,000 unidades/año
Porcelana	11,000 unidades/año

Investigación y desarrollo de tecnologías logísticas innovadoras

La compañía invirtió $ 41.5 millones en gastos de I + D durante 2022, centrándose en:

• Soluciones de manejo de materiales eléctricos e con hidrógeno
• Sistemas telemáticos avanzados
• Tecnologías de manejo de materiales autónomos

Ventas y distribución globales de vehículos industriales

Hyster-Yale generó $ 3.2 mil millones en ingresos totales para 2022, con distribución en:

Región	Volumen de ventas	Porcentaje de ingresos
América del norte	32,500 unidades	45%
Europa	15,000 unidades	30%
Asia-Pacífico	6.500 unidades	25%

Soporte de servicio y mantenimiento postventa

Los servicios de mantenimiento representaron $ 480 millones en ingresos para 2022, con una red de 350 centros de servicio autorizados a nivel mundial.

Personalización de soluciones de manejo de materiales

Las soluciones personalizadas representaron aproximadamente el 22% de las ventas totales, con configuraciones especializadas para:

• Fabricación automotriz
• Almacenamiento y logística
• Operaciones de puerto y marítimo
• Industria de alimentos y bebidas

Hyster -Yale Material Manyling, Inc. (HY) - Modelo de negocio: recursos clave

Instalaciones de fabricación avanzadas

Hyster-Yale opera instalaciones de fabricación en múltiples ubicaciones globales:

Ubicación	Tipo de instalación	Capacidad de fabricación
Greenville, Carolina del Norte, EE. UU.	Planta de fabricación primaria	45,000 unidades de manejo de materiales anualmente
Cleveland, Ohio, EE. UU.	Fabricación de componentes	Apoya la infraestructura de producción global
Bari, Italia	Centro de fabricación europeo	25,000 unidades de manejo de materiales anualmente

Capacidades de ingeniería y diseño

Inversión total de I + D en 2023: $ 38.4 millones

• Equipo de ingeniería de 287 profesionales
• 5 centros dedicados de investigación y desarrollo
• Presentaciones anuales de patentes: 12-15 nuevos registros de propiedad intelectual

Cartera de propiedades intelectuales

Categoría de IP	Recuento total	Patentes activas
Patentes de servicios públicos	127	89
Patentes de diseño	42	36
Aplicaciones pendientes	18	N / A

Fuerza laboral hábil

Total de empleados: 4.100 al 31 de diciembre de 2023

• Promedio de la tenencia del empleado: 9.7 años
• Porcentaje de la fuerza laboral técnica: 42%
• Distribución de la fuerza laboral global: 68% de América del Norte, 22% Europa, 10% otras regiones

Infraestructura de cadena de suministro e logística

Componente de logística	Métrico
Centros de distribución	22 ubicaciones globales
Valor de inventario	$ 287.6 millones (2023)
Gasto logístico anual	$ 64.3 millones

Hyster -Yale Material Handling, Inc. (HY) - Modelo de negocio: propuestas de valor

Equipo de manejo de materiales de alto rendimiento

A partir de 2024, Hyster-Yale ofrece equipos de manejo de materiales con las siguientes especificaciones:

Categoría de equipo	Métricas de rendimiento	Rango de capacidad
Camiones con montacargas	Capacidad de elevación: 2,000-52,000 libras	Opciones de energía eléctrica, gas, diesel
Camiones de almacén	Altura de recolección de pedido: hasta 39 pies	Manejo de carga: 3,000-4,500 libras
Llegar camiones	Maniobrabilidad: diseño de pasillo estrecho	Altura de elevación: hasta 42 pies

Gama de productos integral

Rango de productos que cubre múltiples segmentos industriales:

• Almacenamiento y distribución
• Fabricación
• Puertos y manejo de contenedores
• Logística minorista
• Sector agrícola

Soluciones tecnológicas innovadoras

Inversiones tecnológicas a partir de 2024:

Área tecnológica	Monto de la inversión	Características clave
Sistemas de automatización	$ 42.3 millones	Vehículos guiados autónomos
Integración de IoT	$ 28.7 millones	Gestión de flotas en tiempo real
Tren motriz eléctrico	$ 65.2 millones	Soluciones de emisión cero

Red de servicio global confiable

Cobertura de red de servicio:

• 42 países
• Más de 1.200 centros de servicio
• Soporte técnico 24/7
• Técnicos certificados: más de 3,800

Soluciones personalizables

Capacidades de personalización:

Tipo de personalización	Opciones de modificación	Industrias de clientes
Configuración de equipos	Más de 90 variantes de modificación	Automotriz, procesamiento de alimentos
Integración de software	Gestión de logística patentada	Comercio electrónico, farmacéutico
Optimización del rendimiento	Ajuste de eficiencia específica del cliente	Fabricación pesada

Hyster -Yale Material Manyling, Inc. (HY) - Modelo de negocio: relaciones con los clientes

Soporte de ventas directo a través de gerentes de cuentas dedicados

A partir de 2024, el manejo de materiales Hyster-Yale mantiene un equipo de ventas dedicado con aproximadamente 187 gerentes de cuentas directas a nivel mundial. La infraestructura de soporte de ventas de la compañía cubre los mercados industriales clave, incluidos los sectores de fabricación, almacenamiento y logística.

Región de ventas	Número de gerentes de cuentas	Cartera de cuentas promedio
América del norte	82	15-20 clientes por gerente
Europa	53	12-18 clientes por gerente
Asia-Pacífico	42	10-15 clientes por gerente
América Latina	10	8-12 clientes por gerente

Programas técnicos y de capacitación integrales

Hyster-Yale ofrece un amplio soporte técnico con 246 profesionales de capacitación certificados en operaciones globales. Los programas de capacitación de la compañía cubren:

• Certificación de operación de equipo
• Capacitación técnica de mantenimiento
• Talleres de protocolo de seguridad
• Cursos de gestión de equipos digitales

Contratos de servicio a largo plazo y acuerdos de mantenimiento

En 2023, Hyster-Yale generó $ 412.3 millones a partir de contratos de servicio y mantenimiento, lo que representa el 22% de los ingresos anuales totales. La compañía ofrece múltiples niveles de contrato:

Tipo de contrato	Cobertura anual	Valor de contrato promedio
Mantenimiento básico	12 meses	$18,500
Servicio integral	24 meses	$42,300
Soporte premium	36 meses	$76,500

Plataformas de participación de clientes digitales

Hyster-Yale invirtió $ 7.2 millones en tecnologías de participación de clientes digitales en 2023. Las plataformas digitales incluyen:

• Sistema de monitoreo de equipos en línea
• Informes de diagnóstico en tiempo real
• Tablero de mantenimiento predictivo
• Chatbot de servicio al cliente

Infraestructura de servicio al cliente receptivo

La compañía mantiene un Red de atención al cliente global 24/7 con 312 representantes dedicados de servicio al cliente en múltiples idiomas y zonas horarias. El tiempo de respuesta promedio es de 17 minutos para problemas de equipos críticos.

Canal de soporte	Tiempo de respuesta promedio	Interacciones de soporte anual
Soporte telefónico	12 minutos	87,500 llamadas
Soporte por correo electrónico	22 minutos	63,200 correos electrónicos
Chat en vivo	8 minutos	41,700 sesiones

Hyster -Yale Material Handling, Inc. (HY) - Modelo de negocio: canales

Equipo de ventas directas

A partir de 2024, Hyster-Yale mantiene un fuerza de ventas directa global de aproximadamente 350 profesionales de ventas que cubren los mercados industriales clave.

Región de ventas	Número de representantes de ventas directas
América del norte	175
Europa	85
Asia-Pacífico	60
América Latina	30

Red global de distribuidores y distribuidores autorizados

Hyster-Yale opera a través de un Red integral de distribuidores que abarca 130 países.

• Total de distribuidores autorizados: 425
• Cobertura de red de distribuidores: 6 continentes
• Tamaño de territorio promedio del concesionario: 3-5 mercados regionales

Plataformas de ventas en línea

Canales de ventas digitales que generan aproximadamente $ 72 millones en ingresos anuales.

Plataforma en línea	Volumen de ventas anual
Sitio web de la empresa	$ 38 millones
Mercados industriales de terceros	$ 24 millones
Plataformas de comercio electrónico socio	$ 10 millones

Ferias comerciales y exhibiciones de la industria

Participación anual en 18 Major exhibiciones internacionales de manejo de materiales.

• Inversión total de la exhibición: $ 2.4 millones anuales
• Promedio promedio generados por exposición: 250-350
• Tasa de conversión de las exposiciones: 12-15%

Canal de marketing digital y comercio electrónico

Presupuesto de marketing digital de $ 5.6 millones en 2024.

Canal digital	Gasto de marketing
Publicidad de LinkedIn	$ 1.2 millones
Ads de Google	$ 1.5 millones
Plataformas digitales específicas de la industria	$900,000
Marketing en redes sociales	$600,000
Campañas de marketing por correo electrónico	$400,000

Hyster -Yale Material Handling, Inc. (HY) - Modelo de negocio: segmentos de clientes

Compañías de almacenamiento y logística

Hyster-Yale sirve a las principales empresas de almacenamiento y logística con soluciones de manejo de materiales. A partir de 2022, el tamaño del mercado mundial de almacenamiento y logística se valoró en $ 626.86 mil millones.

Clientes de lógico clave	Cuota de mercado
Cadena de suministro de DHL	12.4%
Kuehne + Nagel	9.8%
DB Schenker	7.6%

Industrias manufactureras

La fabricación representa un segmento crítico de clientes para Hyster-Yale, con la demanda mundial de camiones industriales que alcanza los $ 45.3 mil millones en 2022.

• Fabricación automotriz
• Fabricación electrónica
• Producción farmacéutica
• Fabricación de maquinaria pesada

Centros minoristas y de distribución

En 2022, el mercado global del centro de distribución minorista se estimó en $ 573.4 mil millones.

Tipo de cliente minorista	Gasto anual de equipos de manejo de materiales
Centros de cumplimiento de comercio electrónico	$ 18.7 millones
Distribución de comestibles	$ 12.3 millones
Argüinos y bienes de consumo	$ 9.6 millones

Operaciones de puerto y marítimo

El tamaño del mercado global de manejo de contenedores fue de $ 16.2 mil millones en 2022.

• Terminales de contenedores
• Puertos de envío
• Centros de transporte intermodales

Sectores agrícola y de construcción

El mercado de equipos de manejo de materiales para la agricultura y la construcción se valoró en $ 37.5 mil millones en 2022.

Sector	Demanda de equipos
Construcción	$ 26.8 mil millones
Agrícola	$ 10.7 mil millones

Hyster -Yale Material Manyling, Inc. (HY) - Modelo de negocio: Estructura de costos

Gastos de fabricación y producción

Para el año fiscal 2022, Hyster-Yale reportó costos de fabricación totales de $ 2.87 mil millones. Los gastos de producción de la compañía se descomponen de la siguiente manera:

Categoría de costos	Monto ($)
Costos de material directo	1,456,000,000
Costos de mano de obra directa	612,000,000
Sobrecarga de fabricación	802,000,000

Inversiones de investigación y desarrollo

En 2022, Hyster-Yale invirtió $ 89.4 millones en actividades de investigación y desarrollo, lo que representa el 2.4% de sus ingresos totales.

• Las áreas de enfoque de I + D incluyen soluciones de manejo de materiales eléctricos y autónomos.
• Innovación tecnológica en la automatización de almacenes
• Sistemas avanzados de administración de baterías y energía

Costos de distribución global y logística

Los gastos de distribución global de la compañía para 2022 totalizaron $ 213.6 millones, con centros de distribución clave ubicados en:

Región	Costo de distribución ($)
América del norte	127,200,000
Europa	54,700,000
Asia-Pacífico	31,700,000

Gastos de ventas y marketing

Los costos de ventas y marketing para Hyster-Yale en 2022 ascendieron a $ 342.5 millones, lo que representa el 9.2% de los ingresos totales.

• Inversiones de marketing digital
• Participación en la feria y eventos de la industria
• Compensación del equipo de ventas directas

Compensación y capacitación de la fuerza laboral

Los gastos totales relacionados con la fuerza laboral en 2022 fueron de $ 576.3 millones, que incluyen:

Categoría de compensación	Monto ($)
Salarios base	412,000,000
Beneficios y seguro	98,300,000
Capacitación y desarrollo	66,000,000

Estructura de costos totales para 2022: $ 4,108,300,000

Hyster -Yale Material Manyling, Inc. (HY) - Modelo de negocio: flujos de ingresos

Ventas de equipos de camiones de elevación y vehículos de manejo de materiales

En el año fiscal 2022, Hyster-Yale Materials Handling, Inc. reportó ventas netas totales de $ 3.17 mil millones. El flujo de ingresos básicos de la compañía incluye la venta directa de camiones de elevación y vehículos de manejo de materiales en varios segmentos de mercado.

Categoría de productos	Contribución de ingresos	Segmento de mercado
Camiones de elevación	$ 2.45 mil millones	Industrial, almacenamiento
Vehículos de manejo de material especializado	$ 720 millones	Logística, fabricación

Piezas y contratos de servicio del mercado de accesorios

Las piezas y los contratos de servicio del mercado de accesorios representan un flujo de ingresos significativo para Hyster-Yale.

• Venta de piezas del mercado de accesorios en 2022: $ 412 millones
• Ingresos del contrato de servicio: $ 185 millones
• Margen bruto en las partes del mercado de accesorios: 35.6%

Arrendamiento y alquiler de equipos de manejo de materiales

Hyster-Yale ofrece opciones de arrendamiento y alquiler flexibles para equipos de manejo de materiales.

Segmento de arrendamiento	Ingresos anuales	Duración del arrendamiento
Alquileres a corto plazo	$ 276 millones	1-12 meses
Arrendamientos a largo plazo	$ 194 millones	12-60 meses

Servicios de personalización y modernización

La compañía ofrece servicios de personalización especializados para equipos de manejo de materiales.

• Ingresos de personalización: $ 67 millones en 2022
• Valor promedio del proyecto de personalización: $ 45,000
• Industrias clave servidas: automotriz, comercio electrónico, fabricación

Paquetes de garantía y mantenimiento extendidos

Los paquetes de garantía y mantenimiento extendidos proporcionan un flujo de ingresos adicional para Hyster-Yale.

Tipo de garantía	Ingresos anuales	Período de cobertura
Garantía extendida estándar	$ 89 millones	1-3 años
Paquete de mantenimiento integral	$ 62 millones	Hasta 5 años

Hyster-Yale Materials Handling, Inc. (HY) - Canvas Business Model: Value Propositions

You're looking at the core offerings Hyster-Yale Materials Handling, Inc. puts forward to win business, which is all about the right equipment, the right power, and the right long-term cost structure. It's a comprehensive play across the entire materials handling spectrum.

Comprehensive Product Range

Hyster-Yale Materials Handling, Inc. provides a full line of lift trucks and solutions, covering a massive range of material movement needs globally. The company's vision includes transforming how the world moves material from Port to Home. As of late 2025, the product breadth is substantial, anchored by its estimated installed base of approximately 1,014,000 Hyster-Yale brands lift trucks in operation worldwide (as of December 31, 2024). This large installed base helps drive recurring parts revenue, which represented approximately 14% of Hyster-Yale's annual revenues in 2024.

The product classes define the scope:

• Class 1: Electric counterbalanced rider lift trucks: 1 ton - 8 ton capacity.
• Class 2: Electric narrow aisle lift trucks: 1.5 ton - 6 ton capacity.
• Class 3: Electric hand lift trucks: 1.5 ton - 8 ton capacity.
• Class 4: Internal combustion engine counterbalanced lift trucks, cushion tire: 1.5 ton - 7 ton capacity.
• Class 5: Internal combustion engine counterbalanced lift trucks, pneumatic tire: 1.5 ton - 52 ton capacity.

For example, the Hyster A Series Internal Combustion Engine (ICE) forklifts are offered in capacities ranging from 4,000 to 7,000 pounds. For heavy-duty needs, the Hyster electric big trucks, like the J230-400XD series, offer load capacities from 23,000 to 40,000 pounds.

Solutions Focused on Lowest Total Cost of Ownership

A key promise from Hyster-Yale Materials Handling, Inc. is delivering optimal solutions that improve productivity at the lowest cost of ownership. This focus is part of their long-term financial objectives, which target achieving over 20% return on total capital employed (ROTCE). The company is actively managing costs, as evidenced by the November 2025 announcement of a restructuring plan expected to generate roughly $40 to $45 million in annualized cost savings beginning in Q1 2026, following a challenging Q2 2025 where consolidated revenue was $957 million and the operating loss was $8.5 million.

Technology supports this value proposition:

• Wireless Monitoring Telemetry on models like the Hyster A Series helps reduce damage, downtime, and costs.
• The Hyster J230-400XD lithium-ion trucks are explicitly marketed as providing a competitive total cost of ownership.
• The company's working capital management remains a focus, reporting 21% of sales as working capital as of Q2 2025.

Specialized Attachments via the Bolzoni® Subsidiary

Hyster-Yale Materials Handling, Inc. bolsters its offering through its subsidiary, Bolzoni S.p.A., which is a leading worldwide producer of attachments, forks, and lift tables marketed under the Bolzoni®, Auramo® and Meyer® brand names. Bolzoni products are manufactured across the United States, Italy, China, Germany and Finland, with the company operating six Bolzoni manufacturing facilities worldwide.

The financial contribution from this segment in mid-2025 shows its role:

Metric (Q2 2025)	Amount ($ millions)
Operating Profit	$2
Adjusted Operating Profit	$2

Advanced Energy Solutions, Including Lithium-ion and Fuel Cells

The energy portfolio is undergoing a significant transition. Nuvera Fuel Cells, LLC, a subsidiary, focuses on fuel cell stacks and engines. However, following a strategic realignment announced in April 2025 due to sluggish market adoption of hydrogen fuel cells, the company is pivoting toward lithium-ion batteries. This realignment involved a $15-$18 million one-time charge in Q2 2025, but promises $25-$35 million in annualized cost savings by 2026.

The focus on batteries is clear:

• Hyster-Yale expects lithium-ion battery sales to soar from 2024 levels as early as 2025.
• The Hyster J45-70A electric forklift offers a choice of lead-acid, thin plate pure lead, or lithium-ion battery power.
• The high-capacity Hyster J230-400XD lithium-ion series is configurable up to 280kW battery size.
• Forecasts suggest that in 2025, China and key European markets will reach the 50% critical turning point for Li-ion Class 1-3 forklift sales penetration.

Commitment to BABA-Compliant Electric and High-Capacity Equipment

Hyster-Yale Materials Handling, Inc. has a stated plan to fulfill the domestic manufacturing requirements of the Build America, Buy America (BABA) Act for key product lines, particularly for equipment used in federally funded infrastructure projects. This commitment involves expanding existing American manufacturing.

Key details on the BABA commitment include:

• The plan covers forklifts over 19,000 lbs capacity and container handling equipment.
• This includes lithium-ion and hydrogen fuel cell-powered equipment.
• The general BABA requirement mandates that 55% of the total value of all components must be of US origin.
• Hyster currently produces forklift trucks up to 19,000 lbs in capacity at its US plants, which include four locations, one dedicated to Nuvera fuel cell production.

Hyster-Yale Materials Handling, Inc. (HY) - Canvas Business Model: Customer Relationships

You're looking at how Hyster-Yale Materials Handling, Inc. maintains its connections with customers as of late 2025, a period marked by tariff impacts and economic caution.

Dedicated dealer-centric support for product lifecycle care

The dealer network remains central to Hyster-Yale Materials Handling, Inc.'s sales and service model, though it faced headwinds in Q3 2025. Total dealer sales dropped 14.1% year-over-year to $487.9 million in the third quarter of 2025. Specifically, dealer sales in the Americas totaled $330.1 million, marking a 20% year-over-year decline. The company's stated vision includes providing exceptional customer care to create increasing value from initial engagement through the product lifecycle.

The relationship with dealers is financially supported through joint ventures. HYGFS, a joint venture in which Hyster-Yale holds a 20% stake, provides lift truck financing for dealers and customers in the United States. Hyster-Yale's dividends received from HYGFS jumped 79.5% year-over-year to $7.9 million in Q3 2025.

The reliance on the dealer channel versus direct sales is quantified by the Q3 2025 figures:

Sales Channel Metric (Q3 2025)	Amount (USD)	Year-over-Year Change
Total Dealer Sales	$487.9 million	Down 14.1%
Americas Dealer Sales	$330.1 million	Down 20%
Total Direct Sales	$171.6 million	Up 9.2%
Americas Direct Sales	$169.7 million	Up 9%

Direct sales and service for major global accounts

Hyster-Yale Materials Handling, Inc. supports major global accounts through a dedicated Major Accounts Team, which offers a professional and personal approach, aiming to reduce the cost of operation for customers with lift trucks in many locations globally. This channel saw growth in Q3 2025, with total direct sales increasing 9.2% year-over-year to $171.6 million. Direct sales specifically in the Americas rose 9% year-over-year to $169.7 million. The Major Accounts Team works closely with the independent dealer network to ensure local, fast response and smooth contract management.

Long-term contracts for parts and service (recurring revenue)

The company recognizes revenue for service contracts as the services are provided. The introduction of new electric products, such as initial HydroCharge™ product sales expected in the second half of 2025, and battery/fuel cell electric port equipment testing, are specifically noted to provide 'additional service revenue opportunities over time'. The overall consolidated revenue for the trailing twelve months ending in 2025 was $3.91 Billion USD.

The focus on aftermarket parts and service is a key component of the overall offering, alongside lift trucks, attachments, and technology solutions.

Exploring customer-specific financing to counter economic uncertainty

Hyster-Yale Materials Handling, Inc. offers tailored flexible financing solutions through its partnership with a panel of financial service providers, which the Yale Major Accounts Team can utilize for its clients. The company's financial services arm, HYGFS, is a key part of this, providing lift truck financing for dealers and customers in the United States. As of Q3 2025, Hyster-Yale's incremental obligations to Wells Fargo, which removes receivables guaranteed from HYGFS' loans, rose 6.3% year-over-year to $262.6 million. The Chief Executive noted that volatile interest rates and economic uncertainty are influencing long-term investment decisions, causing many customers to postpone capital expenditures.

Key financing support elements include:

• Tailored flexible financing solutions available.
• HYGFS provides financing for US dealers and customers.
• Incremental obligations related to HYGFS loans stood at $262.6 million in Q3 2025.

Finance: draft 13-week cash view by Friday.

Hyster-Yale Materials Handling, Inc. (HY) - Canvas Business Model: Channels

You're looking at how Hyster-Yale Materials Handling, Inc. gets its products-lift trucks, attachments, and parts-into the hands of customers globally as of late 2025. The channel strategy relies heavily on a mix of independent partners and direct engagement, especially when market conditions, like tariffs, shift the balance.

The backbone of the distribution remains the global network of independent, authorized dealers. While specific unit counts for the dealer network aren't current for Q3 2025, the installed base that supports aftermarket parts sales was approximately $1,014\text{K}$ units as of December 31, 2024. This network is crucial for local service and parts fulfillment. However, in Q3 2025, total dealer sales dropped by $14.1\%$ year-over-year, indicating customers were pausing capital expenditures.

The direct sales force plays an increasingly important role, particularly for large fleet and national accounts. This channel showed resilience in the Americas during Q3 2025, with direct sales there rising $9\%$ year-over-year, contrasting with the dealer sales decline. Overall, total direct sales increased by $9.2\%$ year-over-year in the latest reported quarter. This suggests strategic focus or necessity in securing larger, more stable contracts directly.

Regional marketing divisions manage the global footprint, which encompasses manufacturing facilities, service, and product development centers on five continents. Specific product development centers for lift trucks are located in the U.S., China, Italy, the Netherlands, the U.K., India, the Philippines, and Japan. The regional performance in Q3 2025 showed bookings improving across both the EMEA and JAPIC regions, while the Americas remained stable at relatively low levels. The Americas segment generated consolidated revenues of $\$732.7$ million in Q3 2025, a $5\%$ year-over-year decline.

For the crucial aftermarket business, the company relies on its large installed base to drive parts sales. While specific revenue from online portals for aftermarket parts and technical support isn't broken out in the Q3 2025 summary, the overall strategy is supported by the large installed base. Furthermore, the company utilizes a joint venture, HYGFS, for dealer and customer financing in the U.S., which received $\$1.4$ billion in loans from Wells Fargo at the end of Q3 2025. Dividends from this financing channel jumped $79.5\%$ year-over-year to $\$7.9$ million in that quarter.

Here's a look at the channel performance comparison for the Americas segment in Q3 2025:

Channel Metric (Americas)	Q3 2025 Amount	Year-over-Year Change
Dealer Sales	$\$330.1$ million	Down $20\%$
Direct Sales	$\$169.7$ million	Up $9\%$
Total Americas Revenue	$\$732.7$ million	Down $5\%$

And here are the total reported sales figures by channel for the entire business in Q3 2025:

Total Sales Metric (Global)	Q3 2025 Amount	Year-over-Year Change
Total Dealer Sales	$\$487.9$ million	Down $14.1\%$
Total Direct Sales	$\$171.6$ million	Up $9.2\%$

The company's ability to design globally and deliver locally is cited as a source of cost savings and competitive advantage for its dealers. You should track the direct sales growth against the dealer sales contraction; that trend is key to understanding near-term channel risk.

Finance: draft 13-week cash view by Friday.

Hyster-Yale Materials Handling, Inc. (HY) - Canvas Business Model: Customer Segments

You're looking at Hyster-Yale Materials Handling, Inc. (HY) customer base as of late 2025, which is navigating a choppy macroeconomic environment, evidenced by the Q3 2025 consolidated revenue of $979.1 million, down 4% year-over-year. Still, the backlog stood at $1.35 billion at the end of Q3 2025, showing a significant book of committed future work.

The customer base is diverse, spanning global commerce from the warehouse floor to the port. The Americas remains the largest geographic revenue contributor, though it saw a 5% YoY total revenue fall in Q3 2025, with dealer sales dropping 20% YoY to $330.1 million, while direct sales grew 9% YoY to $169.7 million in that quarter.

Here's a breakdown of the key customer segments based on the latest available product mix and end-market data:

Customer Segment Focus	Key Data Point / Metric	Relevant 2025/2024 Financial/Statistical Data
Global Logistics & Warehousing (Electric Focus)	High-growth area, driven by electrification.	Electric Units represented 32% of 2024 Lift Truck sales volume. Q1 2025 EMEA revenue decline was primarily due to lower Class 1 product sales.
Heavy Manufacturing & Industrial Facilities	Demand tied to industrial output and capital expenditure cycles.	Industrials accounted for 22% of 2024 Retail Lift Truck Unit Revenue. Higher-value Class 4 and Class 5 ICE trucks are key products here.
Ports, Terminals, & Intermodal Handlers (Big Trucks)	High-capacity, specialized equipment users.	JAPIC region Q1 2025 revenue saw a favorable shift towards Big Trucks. Big Truck sales represented 12% of total sales in 2024.
Retail & Wholesale Distribution Centers	High-volume, consistent demand for standard handling equipment.	Retail and Durable Goods accounted for 28% of 2024 Retail Lift Truck Unit Revenue. Food and Beverage was 23%.
Government & Infrastructure Projects	Contractual business, often requiring specific compliance.	Nuvera fuel cell business saw lower U.S. Department of Defense funding in Q1 2025. Americas direct sales grew 9% YoY in Q3 2025.

The focus on electrification is clear from the product mix. Class 1 Electric units made up 26% of 2024 unit revenue, with Class 2 Electric at 9% and Class 3 Electric at 5%. Honestly, the shift to electric is a major theme across the industry, with the global lift truck market predicted to grow in the 4% to 5% range through 2034.

For the specialized, heavy-duty end, the JAPIC geographic segment showed resilience in Q1 2025, posting a 25% revenue increase year-over-year, which the company attributed to a product mix shift towards Big Trucks. This suggests ports and large industrial users in that region were active buyers.

The distribution sector, which includes retail and logistics, forms a substantial portion of the core business:

• Logistics accounted for 27% of 2024 Retail Lift Truck Unit Revenue.
• Retail and Durable Goods was 28% of 2024 Retail Lift Truck Unit Revenue.
• The large installed base of lift trucks, around 1,014K units as of 12/31/24, drives aftermarket parts and service revenue, which is a critical, less cyclical segment for Hyster-Yale Materials Handling, Inc.

For government and infrastructure, while direct data is sparse, the growth in Americas direct sales by 9% YoY in Q3 2025 suggests success in securing larger, potentially compliance-driven contracts, even as dealer sales softened. Finance: draft 13-week cash view by Friday.

Hyster-Yale Materials Handling, Inc. (HY) - Canvas Business Model: Cost Structure

You're looking at the hard numbers that drive Hyster-Yale Materials Handling, Inc.'s expenses right now, late in 2025. It's a cost structure under pressure from external factors and internal adjustments.

High cost of goods sold, driven by raw materials and tariffs

The Cost of Sales for the fiscal quarter ending in June of 2025 hit $788.4M. You see the impact of tariffs clearly in the quarterly reports; for instance, direct tariff costs in Q3 2025 were reported at $40 million. In Q2 2025, the company incurred approximately $10 million of additional costs due to increased tariffs for products entering the U.S. compared to the prior year. To manage this, inventory optimization efforts in Q3 2025, excluding foreign currency and tariff-related impacts of $40 million, still resulted in inventory levels decreasing by $155 million year-over-year.

Manufacturing labor and overhead expenses

Operational discipline is key when volumes drop. In Q2 2025, the Lift Truck operating results reflected reduced volumes and lower manufacturing overhead absorption. Still, the company is finding savings; Q3 2025 operating costs decreased year-over-year, largely due to lower employee-related expenses, including reduced incentive compensation.

Research and development (R&D) investments

Expenses for developing new products and changes to existing ones are charged as incurred. The latest reported full-year R&D figure was $135.9 million for 2024, up from $119.7 million in 2023 and $100.7 million in 2022. The company continues to invest in new products, including modular and scalable lift truck models.

Capital expenditures forecasted at $50 million to $60 million for 2025

Hyster-Yale Materials Handling, Inc. is maintaining a disciplined approach to investments this year. The forecast for capital expenditures for the full year 2025 is set to range between $50 million and $60 million. These funds are earmarked for strategic investments supporting profitable long-term growth, including advanced products, manufacturing efficiencies, and information technology upgrades.

Restructuring costs, including a Q4 2025 charge of approximately $21 million

To better align operations with low industry volumes, Hyster-Yale approved a restructuring plan. This involves reducing the global workforce by approximately 575 employees. The company expects to record a one-time pre-tax charge of about $21 million in the fourth quarter of 2025, primarily related to severance and associated employee benefits, with all costs paid in cash.

Here's a quick look at some of the key financial figures impacting the cost side of the ledger:

Cost/Expense Category	Specific Metric/Period	Amount (USD)
Cost of Sales	Fiscal Quarter Ending June 2025	$788.4M
Capital Expenditures	2025 Forecast Range	$50 million to $60 million
Restructuring Charge	Q4 2025 One-Time Pre-Tax Charge	Approximately $21 million
Tariff Costs	Q3 2025 Direct Costs	$40 million
Tariff/FX Impact on Inventory	Q3 2025 Exclusion	$40 million
R&D Investment	2024 Actual	$135.9 million

The restructuring is expected to generate annualized cost savings of $40 million to $45 million, starting in the first quarter of 2026. These savings are additive to previously announced restructuring initiatives.

• Annualized Cost Savings from Q4 2025 Restructuring: $40 million to $45 million
• Workforce Reduction: Approximately 575 employees
• Cash paid for Restructuring Charge: 100% of the $21 million charge

Hyster-Yale Materials Handling, Inc. (HY) - Canvas Business Model: Revenue Streams

You're looking at the streams of cash Hyster-Yale Materials Handling, Inc. pulls in, which is essential for understanding its financial health, especially in a volatile market like late 2025. Honestly, the business is built on big-ticket equipment sales, but the recurring revenue from parts and service is what keeps the lights on smoothly.

The core of the business remains the sale of new equipment, but the latest figures show the strain from tariffs and market uncertainty. For the first quarter of 2025, the Lift Truck revenue, which is the main engine, landed at $864.4 million. This segment is where the high-margin aftermarket parts and service sales are bundled, though a specific standalone number for that recurring revenue isn't explicitly broken out in the primary segment reporting for Q1 2025.

The Bolzoni segment, focused on attachments, forks, and lift tables, provides a distinct revenue source. In Q1 2025, Bolzoni segment revenue was reported at $80.3 million. This revenue stream saw a 17% year-over-year decline in Q1 2025, partly due to phasing out lower-margin legacy products.

Technology and energy solutions, primarily through the Nuvera fuel cell business, is a strategic investment area, but it hasn't yet translated into significant sales revenue. For Q1 2025, Nuvera revenue was $0, though the segment incurred an operating loss of $(10) million. Management is realigning Nuvera to achieve annualized cost savings of $15 to $20 million starting in the second half of 2025, betting on lithium-ion battery modules and modular hybrid platforms to drive future sales.

Rental and used equipment sales are typically captured within the overall Lift Truck segment results, often alongside aftermarket revenue. To give you a clearer picture of the latest reported revenue structure, here's a look at the Q1 2025 segment breakdown versus the consolidated total:

Revenue Component	Q1 2025 Revenue (in millions USD)	Notes
Consolidated Revenue	$910.4 million	Total for the three months ended March 31, 2025.
Lift Truck Business Revenue (Core)	$864.4 million	Includes new truck sales and likely aftermarket/service/rental components.
Bolzoni Segment Revenue (Attachments)	$80.3 million	Attachments, forks, and lift tables.
Nuvera Revenue (Energy Solutions)	$0 million	Reported zero revenue in Q1 2025.

The sum of the reported segments ($864.4M + $80.3M + $0M = $944.7M) does not equal the consolidated revenue ($910.4M), which is noted in filings as segment reporting not directly summing to the GAAP total. Still, the bulk of the revenue is clearly tied to the equipment sales.

Looking at the most recent quarter, Q3 2025, the revenue picture was slightly different, showing a sequential improvement:

• Consolidated Revenues (Q3 2025): $979.1 million.
• Lift Truck Revenues (Q3 2025): $929 million, a 4% year-over-year decline.
• Electric units accounted for 32% of truck sales as of Q2 2025.
• The Americas remains the largest geographic market, representing 75.3% of sales as of Q2 2025.
• Financing activities also contribute; dividends from the HYGFS joint venture jumped 79.5% year-over-year to $7.9 million in Q3 2025.

The Aftermarket parts and service sales are generally considered high-margin and recurring, which is a key strategic focus to stabilize earnings when new truck volumes are down. The rental and used equipment sales provide a secondary channel for monetization of the existing fleet. The company's focus on increasing service volume through its distribution network is a direct action to bolster these recurring revenue streams.

Finance: draft 13-week cash view by Friday.