HY

hy-20260506

0001173514false00011735142026-05-062026-05-06

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, DC 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 OR 15(d) of The Securities Exchange Act of 1934

Date of Report (Date of earliest event reported):May 6, 2026

HYSTER-YALE, INC.

(Exact name of registrant as specified in its charter)

Delaware000-5479931-1637659

(State or other jurisdiction of incorporation)(Commission File Number)(IRS Employer Identification No.)

5875 Landerbrook Drive, Suite 300

Cleveland(440)

OH449-960044124-4069

(Address of principal executive offices)(Registrant's telephone number, including area code)(Zip code)

N/A

(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐    Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐    Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐    Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐    Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each classTrading Symbol(s)Name of each exchange on which registered

Class A Common Stock, $0.01 par value per shareHYNew York Stock Exchange

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 2.02 Results of Operations and Financial Condition.

Item 7.01 Regulation FD Disclosure.

On May 6, 2026, Hyster-Yale, Inc. (the “Company”) posted on its website, hyster-yale.com, an updated investor presentation. A copy of which is attached as Exhibit 99 to this Current Report on Form 8-K.

The information disclosed above under Item 2.02 with respect to the investor presentation is incorporated herein by reference.

The information in this Current Report on Form 8-K, including Exhibit 99, is furnished pursuant to Item 2.02 and Item 7.01 of Form 8-K and shall not be deemed "filed" for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, except as shall be expressly stated by specific reference in such filing.

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits

99 Hyster-Yale, Inc. Investor Presentation.

104 Cover Page Interactive Data File (embedded within the Inline XBRL document)

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

Date:May 6, 2026HYSTER-YALE, INC.

By:/s/ Dena R. McKee

Dena R. McKee

Title: Vice President, Controller and Chief Accounting Officer

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Exhibit 99

NEWS RELEASE

5875 Landerbrook Drive, Suite 300 • Cleveland, Ohio 44124-4069

Tel. (440) 449-9600 • Fax (440) 449-9577

FOR FURTHER INFORMATION, CONTACT:

Andrea SejbaFor Immediate Release

(440) 449-9611Tuesday, May 5, 2026

HYSTER-YALE

ANNOUNCES FIRST QUARTER 2026 RESULTS

Q1 2026 Consolidated Highlights:

•Q1 bookings continued to strengthen, up 7% sequentially, signaling early stabilization following the Q3 2025 cyclical low

•Consolidated revenues of $795 million declined 13% year-over-year and 14% sequentially, primarily driven by a shift toward lighter‑duty, lower‑priced trucks and depletion of excess backlog

•Operating loss of $28 million included approximately $30 million of gross tariff costs

Cleveland, Ohio, May 5, 2026: Hyster-Yale, Inc. (NYSE: HY) reported the following consolidated results for the three months ended March 31, 2026.

($ in millions except per share amounts)Three Months Ended

Q1 2026Q1 2025% ChangeQ4 2025% Change

Revenues$795.2$910.4(13)%$923.2(14)%

Operating Profit (Loss)$(28.0)$21.3n.m.$(37.2)25%

Net Income (Loss)$(30.5)$8.6n.m.$(52.5)42%

Diluted Earnings (Loss) per Share$(1.71)$0.48n.m.$(2.96)42%

Adjusted Operating Profit (Loss)(1) $(26.4)$21.5n.m.$(15.7)(68)%

Adjusted Net Income (Loss)(1) $(29.3)$8.7n.m.$(36.6)20%

Adjusted Diluted Earnings (Loss) per Share(1) $(1.64)$0.49n.m.$(2.06)20%

(1) Reconciliations of reported to adjusted figures are included below.

n.m. - not meaningful.

Lift Truck Business Results

Revenues by geographic segment were as follows:

($ in millions except per share amounts)

Q1 2026

Q1 2025

% ChangeQ4 2025% Change

Revenues$739.7$864.4(14)%$871.4(15)%

Americas(2) $578.4$698.9(17)%$676.8(15)%

EMEA(2)

$126.0$118.27%$153.3(18)%

JAPIC(2)

$35.3$47.3(25)%$41.3(15)%

(2) The Americas segment includes the North America, Latin America and Brazil markets, EMEA includes operations in the Europe, Middle East and Africa markets, and JAPIC includes operations in the Asia and Pacific markets, including China.

1

Q1 2026 Lift Truck revenues totaled $740 million, down 14% year-over-year, primarily due to a shift in the sales mix toward lighter-duty, lower priced models and depletion of excess backlog.

•The Company has introduced new models designed to address growing demand for standard and value configurations in the core counterbalanced truck market, leveraging its modular and scalable platform. This proactive response reflects market preferences that continue to shift toward lighter-duty and lower-priced trucks. While these new offerings will strengthen our competitive positioning, the transition reduced shipments for higher-priced traditional models and contributed to a year-over-year decrease in revenue.

•Additionally, the Company believes macroeconomic challenges, including ongoing economic uncertainty and cautious customer spending, further reduced potential revenues in Q1 2026.

•Favorable pricing in the Americas and positive currency movements partially offset the revenue decrease in Q1 2026 compared to Q1 2025.

Sequentially, Lift Truck revenues decreased, primarily due to lower shipments of higher-value core counterbalanced trucks as excess backlog was depleted.

Gross profit and operating profit (loss) by geographic segment were as follows:

($ in millions)Q1 2026Q1 2025% ChangeQ4 2025% Change

Gross Profit$104.3$158.8(34)%$111.8(7)%

Americas$93.7$142.5(34)%$94.8(1)%

EMEA$8.6$12.9(33)%$14.1(39)%

JAPIC$2.0$3.4(41)%$2.9(31)%

Operating Profit (Loss)$(27.9)$20.3n.m.$(33.5)17%

Americas$(1.7)$42.5n.m.$(7.0)n.m.

EMEA$(19.1)$(14.9)(28)%$(19.4)2%

JAPIC$(7.1)$(7.3)3%$(7.1)—%

Adjusted Operating Profit (Loss)(1) $(26.3)$20.5n.m.$(15.2)(73)%

Americas(1) $(0.1)$43.2(100)%$4.2n.m.

EMEA(1)

$(19.1)$(16.2)(18)%$(13.3)(44)%

JAPIC(1)

$(7.1)$(6.5)(9)%$(6.1)(16)%

(1) Reconciliations of reported to adjusted figures are included below.

•Q1 2026 Lift Truck’s year-over-year operating loss reflects a shift in product mix towards lighter-duty, lower priced trucks and approximately $30 million in gross tariff costs.

•The year-over-year decline was partially offset by pricing actions in the Americas and the favorable impact of higher capitalized material costs.

•Q1 2026 operating costs decreased year-over-year, mainly due to lower employee-related expenses primarily from restructuring actions initiated in 2025, including Nuvera's strategic realignment.

•Americas operating profit (loss) declined year-over-year primarily due to a shift in product mix towards lighter-duty, lower priced trucks and the unfavorable impact of tariff costs. This was partially offset by the favorable impact of higher capitalized material costs and reduced employee-related costs from lower headcount and incentive compensation estimates.

•EMEA’s operating loss increased year-over-year primarily due to product mix and lower parts volumes.

Sequentially, Lift Truck adjusted operating profit (loss) declined primar

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EXHIBIT 99

Hyster-Yale, Inc.

(in millions of $, except percentage data)

Revenues - Consolidated

Revenues - Consolidated - % change yr. over yr.

Q1Q2Q3Q4FYQ1Q2Q3Q4FY

2022827.6 895.4 840.1 985.2 3,548.3 202213.0 %17.0 %12.3 %18.7 %15.4 %

2023999.3 1,090.6 1,001.2 1,027.2 4,118.3 202320.7 %21.8 %19.2 %4.3 %16.1 %

20241,056.5 1,168.1 1,016.1 1,067.5 4,308.2 20245.7 %7.1 %1.5 %3.9 %4.6 %

2025910.4 956.6 979.1 923.2 3,769.3 2025-13.8 %-18.1 %-3.6 %-13.5 %-12.5 %

2026795.2 2026-12.7 %

Gross ProfitGross Profit %

Q1Q2Q3Q4FYQ1Q2Q3Q4FY

2022101.299.186.9146.7433.9 202212.2 %11.1 %10.3 %14.9 %12.2 %

2023174.4197.9203.6209.7785.6 202317.5 %18.1 %20.3 %20.4 %19.1 %

2024235.7259.3192.9207.6895.5 202422.3 %22.2 %19.0 %19.4 %20.8 %

2025177.7168.2 155.9 131.0 632.8 202519.5 %17.6 %15.9 %14.2 %16.8 %

2026124.8202615.7 %

Operating Expenses (6)(7)

Operating Expenses as a % of Revenue (6)(7)

Q1Q2Q3Q4FYQ1Q2Q3Q4FY

2022119.5 114.8 111.8 126.9 473.0 202214.4 %12.8 %13.3 %12.9 %13.3 %

2023131.8 139.1 145.0 161.0 576.9 202313.2 %12.8 %14.5 %15.7 %14.0 %

2024151.9 163.7 159.8 175.3 650.7 202414.4 %14.0 %15.7 %16.4 %15.1 %

2025156.4 176.7 153.6 168.2 654.9 202517.2 %18.5 %15.7 %18.2 %17.4 %

2026152.8 202619.2 %

Restructuring & Impairment Charges (6)(7)(8)(9)(10)(11)(12)(13)

Q1Q2Q3Q4FY

2024— — 1.2 21.4 22.6

20250.2 15.7 1.0 21.5 38.4

20261.6

Operating Profit (Loss) (6)

Operating Profit (Loss) % (6)

Q1Q2Q3Q4FYQ1Q2Q3Q4FY

2022(18.3)(15.7)(24.9)19.8 (39.1)2022-2.2 %-1.8 %-3.0 %2.0 %-1.1 %

202342.6 58.8 58.6 48.7 208.7 20234.3 %5.4 %5.9 %4.7 %5.1 %

202483.8 95.6 33.1 32.3 244.8 20247.9 %8.2 %3.3 %3.0 %5.7 %

202521.3 (8.5)2.3 (37.2)(22.1)20252.3 %-0.9 %0.2 %-4.0 %-0.6 %

2026(28.0)2026-3.5 %

Interest (Income) Expense

Q1Q2Q3Q4FY

20224.9 5.9 7.3 9.2 27.3

20239.6 7.8 8.9 8.4 34.7

20247.8 8.0 7.9 7.3 31.0

20257.0 7.1 7.4 7.0 28.5

20266.6

Income (Loss) Before Taxes Effective Income Tax Rate (15)

Q1Q2Q3Q4FYQ1Q2Q3Q4FY

2022(21.3)(21.8)(32.4)13.1 (62.4)2022-13.6 %14.2%-13.0 %39.7 %-14.7 %

202335.9 50.8 52.6 41.7 181.0 202324.2 %23.6%30.8 %38.4 %29.2 %

202476.9 90.0 28.1 24.0 219.0 202432.6 %29.0%36.7 %55.4 %34.2 %

202516.8 (13.2)(4.6)(41.9)(42.9)202548.2 %n.m.n.m.-23.2 %-35.2 %

2026(32.1)20265.6 %

Hyster-Yale, Inc.

(in millions of $, except percentage data)

Net Income (Loss) Attributable to Stockholders

Q1Q2Q3Q4FY

2022(25.0)(19.4)(37.3)7.6 (74.1)

202326.6 38.3 35.8 25.2 125.9

202451.5 63.3 17.2 10.3 142.3

20258.6 (13.9)(2.3)(52.5)(60.1)

2026(30.5)

Depreciation and Amortization Expense

Q1Q2Q3Q4FY

202211.1 11.0 10.9 10.4 43.4

202311.2 11.3 11.3 11.3 45.1

202411.7 12.4 11.7 11.8 47.6

202511.0 11.8 11.3 11.7 45.8

202611.3

Net Working Capital (1)

Net Working Capital as % of Revenue (2)

Q1Q2Q3Q4FYQ1Q2Q3Q4FY

2022704.7 751.9 686.2 715.7 715.7 202221.3 %21.0 %20.4 %20.2 %20.2 %

2023763.0 809.0 777.8 783.0 783.0 202319.1 %18.5 %19.4 %19.0 %19.0 %

2024789.6 855.9 863.9 787.2 787.2 202418.7 %18.3 %21.3 %18.3 %18.3 %

2025804.7 814.3 784.9 722.7 722.7 202522.1 %21.3 %20.0 %19.2 %19.2 %

2026706.1 202622.2 %

Capital Expenditures

Q1Q2Q3Q4FY

20229.7 5.6 4.4 9.1 28.8

20233.3 7.3 8.3 16.5 35.4

20247.5 12.2 10.2 17.9 47.8

202510.6 13.8 14.5 23.6 62.5

20269.8

Net Cash Provided By (Used For) Operating Activities

Q1Q2Q3Q4FY

202259.1 (58.9)34.1 6.3 40.6

20239.0 35.8 60.3 45.6 150.7

2024 22.4 (2.5)70.1 80.7 170.7

2025(36.4)28.9 37.1 56.5 86.1

2026(32.9)

Net Cash Provided By (Used For) Investing Activities

Q1Q2Q3Q4FY

2022(9.3)(13.6)(4.3)(8.2)(35.4)

2023(5.0)(6.9)(7.9)(14.7)(34.5)

2024(7.0)(11.7)(12.0)(16.9)(47.6)

2025(10.3)(15.3)(14.2)(22.9)(62.7)

2026(9.3)

Cash Flow Before Financing Activities (3)

Q1Q2Q3Q4FY

2021(37.6)(62.3)(102.0)(76.1)(278.0)

202249.8 (72.5)29.8 (1.9)5.2

20234.0 28.9 52.4 30.9 116.2

202415.4 (14.2)58.1 63.8 123.1

2025(46.7)13.6 22.9 33.6 23.4

2026(42.2)

Hyster-Yale, Inc.

(in millions of $, except percentage data)

Net Cash Provided By (Used For) Financing Activities

Q1Q2Q3Q4FY

2022(50.9)84.4 (35.4)(9.0)(10.9)

2023(2.5)(26.4)(40.2)(31.4)(100.5)

2024(30.5)19.1 (50.8)(37.9)(100.1)

202525.9 (26.2)(18.1)17.6 (0.8)

20261.3

Dividends Paid to Stockholders

Q1Q2Q3Q4FY

20225.4 5.5 5.5 5.4 21.8

20235.6 5.5 5.6 5.6 22.3

20245.7 6.1 6.1 6.1 24.0

20256.2 7.7 6.3 6.5 26.7

20266.4

Total Debt Debt to Total Capitalization (4)

Q1Q2Q3Q4FYQ1Q2Q3Q4FY

2022479.0 580.6 545.0 552.9 552.9 202257.7 %72.2 %80.1 %71.1 %71.1 %

2023560.6 542.3 510.6 494.0 494.0 202367.3 %63.9 %61.4 %54.8 %54.8 %

2024474.8 501.9 468.5 440.7 440.7 202452.5 %51.0 %46.0 %47.1 %47.1 %

2025484.0 473.2 467.8 494.3 494.3 202547.8 %46.5 %46.4 %50.9 %50.9 %

2026505.3 202652.8 %

Total Equity Return on Equity (5)

Q1Q2Q3Q4FYQ1Q2Q3Q4FY

2022351.5 223.4 135.2 225.1 225.1 2022-40.9 %-53.6 %-57.7 %-28.1 %-28.1 %

2023272.3 306.2 320.6 406.8 406.8 2023-9.3 %15.1 %43.0 %41.1 %41.1 %

2024429.3 482.1 549.0 494.1 494.1 202443.5 %45.2 %35.9 %30.1 %30.1 %