Hyster-Yale Materials Handling, Inc. Files 2023 Annual Report

TL;DR

<b>Hyster-Yale Materials Handling, Inc. has filed its annual 10-K report for the fiscal year ended December 31, 2023.</b>

AI Summary

HYSTER-YALE MATERIALS HANDLING, INC. (HY) filed a Annual Report (10-K) with the SEC on February 27, 2024. Hyster-Yale Materials Handling, Inc. filed its 10-K report for the fiscal year ending December 31, 2023. The filing covers the period from January 1, 2023, to December 31, 2023. The company's principal executive offices are located at 5875 Landerbrook Drive, Suite 300, Cleveland, OH 44124. Hyster-Yale Materials Handling, Inc. is classified under the SIC code 3537 for Industrial Trucks, Tractors, Trailers & Stackers. The report was filed on February 27, 2024.

Why It Matters

For investors and stakeholders tracking HYSTER-YALE MATERIALS HANDLING, INC., this filing contains several important signals. This 10-K filing provides a comprehensive overview of Hyster-Yale's financial performance, business operations, and risk factors for the fiscal year 2023, which is crucial for investors to assess the company's health and future prospects. The detailed financial statements and disclosures within the report are essential for stakeholders to understand the company's financial position, including its assets, liabilities, revenues, and profitability, as well as any potential risks it faces.

Risk Assessment

Risk Level: medium — HYSTER-YALE MATERIALS HANDLING, INC. shows moderate risk based on this filing. The company operates in the industrial trucks and equipment sector, which can be subject to economic downturns and supply chain disruptions, as indicated by the nature of its business and the typical risks associated with manufacturing and distribution.

Analyst Insight

Investors should review the detailed financial statements and risk factors in the 10-K to understand Hyster-Yale's performance and outlook for the upcoming fiscal year.

Key Numbers

• 2023-12-31 — Fiscal Year End (Conformed period of report)
• 2024-02-27 — Filing Date (Filed as of date)
• 3537 — SIC Code (Standard Industrial Classification)
• DE — State of Incorporation (State of incorporation)

Key Players & Entities

• HYSTER-YALE MATERIALS HANDLING, INC. (company) — Filer name
• HY (company) — Ticker symbol
• 5875 LANDERBROOK DRIVE (company) — Business address street 1
• SUITE 300 (company) — Business address street 2
• CLEVELAND (company) — Business address city
• OH (company) — Business address state
• 44124 (company) — Business address zip
• 311637659 (company) — IRS number

FAQ

Industry Context

Hyster-Yale Materials Handling, Inc. operates in the industrial trucks, tractors, trailers, and stackers industry, providing equipment for material handling needs.

Regulatory Implications

The filing is a standard 10-K annual report required by the Securities and Exchange Commission (SEC) for publicly traded companies in the United States.

What Investors Should Do

1. Review the consolidated financial statements for the fiscal year ended December 31, 2023.
2. Analyze the Management's Discussion and Analysis of Financial Condition and Results of Operations section.
3. Examine the Risk Factors section for potential challenges and uncertainties.

Key Dates

• 2023-12-31: Fiscal Year End — End of the reporting period for the 10-K filing.
• 2024-02-27: Filing Date — Date the 10-K report was officially filed with the SEC.

Year-Over-Year Comparison

This is the 2023 annual report filing (10-K) for Hyster-Yale Materials Handling, Inc., providing updated financial and operational information compared to previous filings.

Key Financial Figures

• $0.01 — stered Class A Common Stock, Par Value $0.01 Per Share HY New York Stock Exchange

Filing Documents

• hy-20231231.htm (10-K) — 2781KB
• hyexh211202310k.htm (EX-21.1) — 30KB
• hyexh231202310k.htm (EX-23.1) — 7KB
• hyexh241202310k.htm (EX-24.1) — 4KB
• hyexh242202310k.htm (EX-24.2) — 4KB
• hyexh243202310k.htm (EX-24.3) — 4KB
• hyexh244202310k.htm (EX-24.4) — 4KB
• hyexh245202310k.htm (EX-24.5) — 4KB
• hyexh246202310k.htm (EX-24.6) — 4KB
• hyexh247202310k.htm (EX-24.7) — 4KB
• hyexh248202310k.htm (EX-24.8) — 4KB
• hyexh249202310k.htm (EX-24.9) — 4KB
• hyexh2410202310k.htm (EX-24.10) — 4KB
• hyexh2411202310k.htm (EX-24.11) — 4KB
• hyexh2412202310k.htm (EX-24.12) — 4KB
• hyexh311202310k.htm (EX-31.1) — 10KB
• hyexh312202310k.htm (EX-31.2) — 10KB
• hyexh32202310k.htm (EX-32) — 7KB
• hyexh971202310k.htm (EX-97.1) — 34KB
• 0001173514-24-000014.txt (&nbsp;) — 15284KB
• hy-20231231.xsd (EX-101.SCH) — 60KB
• hy-20231231_cal.xml (EX-101.CAL) — 124KB
• hy-20231231_def.xml (EX-101.DEF) — 804KB
• hy-20231231_lab.xml (EX-101.LAB) — 1153KB
• hy-20231231_pre.xml (EX-101.PRE) — 912KB
• hy-20231231_htm.xml (XML) — 2635KB

BUSINESS

BUSINESS 1 Item 1A.

RISK FACTORS

RISK FACTORS 8 Item 1B. UNRESOLVED STAFF COMMENTS 13 Item 1C. CYBERSECURITY 13 Item 2.

PROPERTIES

PROPERTIES 14 Item 3.

LEGAL PROCEEDINGS

LEGAL PROCEEDINGS 15 Item 4. MINE SAFETY DISCLOSURES 15 Item 4A. INFORMATION ABOUT OUR EXECUTIVE OFFICERS 15 PART II. Item 5. MARKET FOR REGISTRANT'S COMMON EQUITY, RELATED STOCKHOLDER MATTERS AND ISSUER PURCHASES OF EQUITY SECURITIES 15 Item 6. [RESERVED] 15 Item 7.

MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS

MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS 16 Item 7A.

QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK

QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK 28 Item 8.

FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA

FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA 29 Item 9. CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS ON ACCOUNTING AND FINANCIAL DISCLOSURE 29 Item 9A.

CONTROLS AND PROCEDURES

CONTROLS AND PROCEDURES 29 Item 9B. OTHER INFORMATION 29 Item 9C. DISCLOSURE REGARDING FOREIGN JURISDICTIONS THAT PREVENT INSPECTIONS 29 PART III. Item 10. DIRECTORS, EXECUTIVE OFFICERS AND CORPORATE GOVERNANCE 30 Item 11.

EXECUTIVE COMPENSATION

EXECUTIVE COMPENSATION 30 Item 12.

SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT AND RELATED STOCKHOLDER MATTERS

SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT AND RELATED STOCKHOLDER MATTERS 30 Item 13. CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS, AND DIRECTOR INDEPENDENCE 30 Item 14. PRINCIPAL ACCOUNTANT FEES AND SERVICES 30 PART IV. Item 15. EXHIBITS AND FINANCIAL STATEMENT SCHEDULES 30 Item 16. FORM 10-K SUMMARY 33

FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA

FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA F- 1 Table of Contents PART I

BUSINESS

Item 1. BUSINESS General Hyster-Yale Materials Handling, Inc. ("Hyster-Yale" or the "Company") and its subsidiaries, including its operating company Hyster-Yale Group, Inc. ("HYG"), is a globally integrated company offering a full line of high-quality, application-tailored lift trucks and solutions aimed at meeting the specific materials handling needs of its customers. The Company's solutions include attachments and hydrogen fuel cell power products, telematics, automation and fleet management services, as well as a variety of other power options for its lift trucks. The Company is headquartered in Cleveland, Ohio. Through HYG, the Company designs, engineers, manufactures, sells and services a comprehensive line of lift trucks, attachments and aftermarket parts marketed globally, primarily under the Hyster and Yale brand names, mainly to independent Hyster and Yale retail dealerships. The Company owns a 90% majority interest in Hyster-Yale Maximal Forklift (Zhejiang) Co., Ltd. ("Hyster-Yale Maximal"), a Chinese manufacturer of low-intensity and standard lift trucks and specialized material handling equipment. Hyster-Yale Maximal also designs and produces specialized products in the port equipment and rough terrain forklift markets. Lift trucks and component parts are manufactured in the United States, Northern Ireland, China, Mexico, the Netherlands, Brazil, the Philippines, Italy, Japan and Vietnam. Hyster-Yale was incorporated as a Delaware corporation in 1999. The Company's segments for the lift truck business include the following: the Americas, EMEA and JAPIC. Americas includes lift truck operations in the United States, Canada, Mexico, Brazil, Latin America and the corporate headquarters. EMEA includes operations in Europe, the Middle East and Africa. JAPIC includes operations in the Asia and Pacific regions, including China, as well as the equity earnings of SN operations. The Company operates Bolzoni S.p.A. ("Bolzoni"). Bolzoni is a leading worldwide pr

View Full Filing

View this 10-K filing on SEC EDGAR