Recent Updates — HY
The Board of Directors appointed Matthew Cornell as Senior Vice President and Chief Financial Officer, effective November 1, 2026. He succeeds Rajiv K. Prasad, who will serve as principal financial officer until the filing of the quarterly report for the period ending September 30, 2026. Cornell brings prior experience from Stanley Black & Decker. His compensation includes a $605,000 annual base salary, a target annual incentive bonus of up to 60% of the role's midpoint, and long-term equity incentives valued at 90% of the midpoint. Additional terms include a $75,000 sign-on cash bonus, a one-time award of 3,500 shares, and a $20,000 annual perquisite allowance. Hyster-Yale manufactures industrial trucks and lift equipment.
On August 1, 2026, the Board of Directors appointed Anthony J. Salgado as Chief Operating Officer effective immediately. Mr. Salgado previously served as President and Chief Executive Officer of Hyster-Yale Materials Handling, Inc., the company's principal operating subsidiary. This filing discloses an executive appointment within a manufacturer of industrial trucks and material handling equipment.
Hyster-Yale, Inc. filed an 8-K to furnish its Q2 2026 investor presentation posted on August 5, 2026. The company reported Q2 revenues of $813 million, a 2% sequential increase, driven by improved bookings and favorable pricing. Adjusted operating loss narrowed to $17 million from $26 million in Q1, aided by a $35 million tariff refund partially offset by higher tariff costs. Bookings reached $680 million, marking the fourth consecutive quarter of growth, with a backlog of approximately five months. The company anticipates a moderate full-year operating loss for 2026 but expects second-half recovery as restructuring benefits materialize and demand improves. Hyster-Yale operates in the industrial equipment industry, manufacturing lift trucks, attachments, and related service solutions.
Hyster-Yale, Inc. posted historical quarterly financial data for the second quarter of 2026 on its website and attached it as Exhibit 99 to this Form 8-K filing dated August 4, 2026. The company reported consolidated revenues of $812.9 million for Q2 2026, representing a 15.0% year-over-year decline from the prior year period. Gross profit was $127.6 million with a margin of 15.7%, while operating expenses totaled $146.0 million (18.0% of revenue). The company recorded an operating loss of $18.4 million and a net loss attributable to stockholders of $31.6 million for the quarter. Hyster-Yale, Inc. manufactures and distributes material handling equipment.
Hyster-Yale, Inc. reported unaudited financial results for the second quarter ended June 30, 2026. Consolidated revenues were $812.9 million, a 15% decrease from $956.6 million in Q2 2025 but a 2% increase sequentially from Q1 2026. The company reported a net loss of $31.6 million, or $(1.76) per diluted share, compared to a net loss of $13.9 million in the prior year period. Bookings reached $680 million, marking four consecutive quarters of growth and doubling the level seen in Q2 2025. Operating cash flow improved to a source of $17 million, driven by favorable working capital actions including lower inventory. The company maintains a moderate operating loss outlook for full-year 2026, citing tariff costs and delayed shipment timing despite improving demand trends. Hyster-Yale, Inc. is a global manufacturer of lift trucks, attachments, and materials handling solutions.