Please ensure Javascript is enabled for purposes of website accessibility

Why Hyster-Yale Materials Handling Inc Stock Soared Today

By Travis Hoium - May 2, 2017 at 1:22PM

You’re reading a free article with opinions that may differ from The Motley Fool’s Premium Investing Services. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Learn More

Investors cheered a strong first quarter.

What happened 

Shares of lift-truck maker Hyster-Yale Materials Handling Inc (HY 4.18%) jumped as much as 19.8% in trading Tuesday after the company reported first-quarter 2017 earnings. At 12:20 p.m. EDT, shares were still up an impressive 14.8% on the day. 

So what

Revenue was up 18% to $713.1 million in the quarter and net income jumped 81% to $18.1 million, or $1.10 per share. Lift-truck improvement helped drive results, with unit shipments jumping to 23,300 from 20,500 a year ago. 

Forklift in a warehouse picking boxes.

Image source: Getty Images.

Analyst were only expecting $668.3 million in revenue and $0.53 per share in earnings, so Hyster-Yale's performance easily topped expectations. 

Now what

Numbers were strong across the board, and the Americas are pushing results higher right now. Strong bookings of 23,700 units, worth about $550 million, should also help steer the company to good results throughout 2017. Momentum in the economy appears to be helping drive demand for lift trucks, and right now the future still looks bright. That bullishness is what's helping financial results and sending Hyster-Yale's shares higher today. 

Travis Hoium has no position in any stocks mentioned. The Motley Fool recommends Hyster-Yale Materials Handling. The Motley Fool has a disclosure policy.

Invest Smarter with The Motley Fool

Join Over 1 Million Premium Members Receiving…

  • New Stock Picks Each Month
  • Detailed Analysis of Companies
  • Model Portfolios
  • Live Streaming During Market Hours
  • And Much More
Get Started Now

Stocks Mentioned

Hyster-Yale Materials Handling, Inc. Stock Quote
Hyster-Yale Materials Handling, Inc.
HY
$34.60 (4.18%) $1.39

*Average returns of all recommendations since inception. Cost basis and return based on previous market day close.

Related Articles

Motley Fool Returns

Motley Fool Stock Advisor

Market-beating stocks from our award-winning analyst team.

Stock Advisor Returns
400%
 
S&P 500 Returns
128%

Calculated by average return of all stock recommendations since inception of the Stock Advisor service in February of 2002. Returns as of 08/15/2022.

Discounted offers are only available to new members. Stock Advisor list price is $199 per year.

Premium Investing Services

Invest better with The Motley Fool. Get stock recommendations, portfolio guidance, and more from The Motley Fool's premium services.