Hyster-Yale (HY) Q3 FY2026 earnings: revenue $827 million, down 15.5% on the year

Hyster-Yale, Inc. (HY) reported revenue of $827 million for Q3 FY2026, the quarter ended 30 September 2026, down 15.5% on the same quarter a year earlier. Net income was -$15 million, and diluted earnings per share $-0.83. The figures are the company's own, from the 10-Q it filed with the SEC on 5 November 2026.

Revenue

$827 million

-15.5% on the year · +1.8% on the quarter

Q4 FY2024Q3 FY2026

Operating margin

-1.1%

0.2% a year earlier

Q4 FY2024Q3 FY2026

Net income

-$15 million

Q4 FY2024Q3 FY2026

Diluted EPS

-$0.83

Q4 FY2024Q3 FY2026

this quarterthe same quarter a year earlierHover a bar for its figure.

What management said

Guidance figures: 1 new.

Revenue and adjusted EBITDA rose: Revenue was $827M against $813M in Q2. Adjusted EBITDA was $6M, against negative $5M in Q2.
Operating loss narrowed to $9M: Operating loss was $9M against $18M in Q2; adjusted operating loss was $8M against $17M. Management cited higher volumes and lower employee-related expenses, including incentive compensation.
Gross profit margin fell to 15.0%: Gross profit was $124.1M, or 15.0% of revenue, against $127.6M and 15.7% in Q2 2026.

Read the earnings call summary

Income statement (profit and loss)

$ million	Q3 FY2026	Q2 FY2026	Q3 FY2025	On the quarter	On the year
Revenue	827	813	979	+1.8%	-15.5%
Cost of revenue	703	685	823	+2.6%	-14.6%
Gross profit	124	128	156	-2.7%	-20.4%
Gross margin	15.0%	15.7%	15.9%
Selling, general and administrative	132	144	153	-8.7%	-13.7%
Operating income	-9.1	-18.4	2.3
Operating margin	-1.1%	-2.3%	0.2%
Interest expense	7.2	7.8	8.0	-7.7%	-10.0%
Pre-tax income	-13.7	-23.2	-4.6
Income tax	0.6	8.1	-2.9	-92.6%
Net income	-14.9	-31.6	-2.3
Net margin	-1.8%	-3.9%	-0.2%
Diluted EPS	-$0.83	-$1.76	-$0.13

$ million except per share.

Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.

Cash flow

$ million	Q3 FY2026	Q2 FY2026	Q3 FY2025	On the quarter	On the year
Operating cash flow	26.3	16.7	37.1	+57.5%	-29.1%
Capital expenditure	13.8	14.7	14.5	-6.1%	-4.8%
Free cash flow	12.5	2.0	22.6	+525.0%	-44.7%
Free cash flow margin	1.5%	0.2%	2.3%
Cash from investing	-15.1	-14.2	-14.2
Cash from financing	-25.9	-11.3	-18.1
Depreciation and amortisation	11.4	10.9	11.3	+4.6%	+0.9%
Share-based compensation	n/a	1.4	2.1
Buybacks	0.0	0.0	0.1
Dividends paid	6.6	6.6	6.3	0.0%	+4.8%
Dividend per share	$0.36	$0.36	$0.36	0.0%	+1.4%
Diluted shares, weighted	18m	18m	18m	+0.1%	+1.2%
Shares outstanding at period end	18m	18m	18m	+0.1%	+1.2%

Cash flow lines for the quarter; where the company files them year to date, the quarter is the difference between two filings.

Balance sheet

$ million	Q3 FY2026	Q2 FY2026	Q3 FY2025	On the quarter	On the year
Shareholders' equity	371	390	536	-4.9%	-30.8%
Non-controlling interest	2.4	3.9	4.3	-38.5%	-44.2%
Redeemable equity	16.6	16.1	15.1	+3.1%	+9.9%
Debt	485	500	468	-3.1%	+3.6%
Other liabilities	1,058	1,018	1,037	+3.9%	+1.9%
Total liabilities and equity	1,932	1,928	2,060	+0.2%	-6.2%
Fixed assets	328	327	321	+0.3%	+2.2%
Goodwill	55.4	55.5	55.5	-0.2%	-0.2%
Intangible assets	29.7	30.3	33.0	-2.0%	-10.0%
Cash and equivalents	58.5	72.6	71.1	-19.4%	-17.7%
Receivables	469	485	521	-3.2%	-9.9%
Inventory	665	628	740	+5.9%	-10.2%
Other assets	327	331	319	-1.2%	+2.3%
Total assets	1,932	1,928	2,060	+0.2%	-6.2%

Questions

What was Hyster-Yale's revenue in Q3 FY2026?

Hyster-Yale (HY) reported revenue of $827 million for Q3 FY2026, the quarter ended 30 September 2026, down 15.5% on the same quarter a year earlier.

How much did Hyster-Yale earn in Q3 FY2026?

Net loss for Q3 FY2026 was $15 million, and the diluted loss per share $0.83.

When did Hyster-Yale report Q3 FY2026 results?

Hyster-Yale filed its 10-Q for the quarter ended 30 September 2026 with the SEC on 5 November 2026.

Quarterly results, the last 20 quarters

	Q4 FY2021 *	Q1 FY2022	Q2 FY2022	Q3 FY2022	Q4 FY2022 *	Q1 FY2023	Q2 FY2023	Q3 FY2023	Q4 FY2023 *	Q1 FY2024	Q2 FY2024	Q3 FY2024 †	Q4 FY2024 * †	Q1 FY2025	Q2 FY2025	Q3 FY2025	Q4 FY2025 *	Q1 FY2026	Q2 FY2026	Q3 FY2026
Revenue	830	828	895	840	985	999	1,091	1,001	1,027	1,056	1,168	1,016	1,068	910	957	979	923	795	813	827
Cost of revenue	766	726	796	753	838	825	893	798	818	821	909	823	860	733	788	823	792	670	685	703
Gross profit	63.5	101	99.1	86.9	147	174	198	204	210	236	259	193	208	178	168	156	131	125	128	124
Gross margin	8%	12%	11%	10%	15%	17%	18%	20%	20%	22%	22%	19%	19%	20%	18%	16%	14%	16%	16%	15%
SG&A	105	120	115	112	127	132	139	145	161	152	164	159	154	156	161	153	147	151	144	132
Operating income	-107	-18.3	-15.7	-24.9	19.8	42.6	58.8	58.6	48.7	83.8	95.6	33.1	32.3	21.3	-8.5	2.3	-37.2	-28.0	-18.4	-9.1
Operating margin	-13%	-2%	-2%	-3%	2%	4%	5%	6%	5%	8%	8%	3%	3%	2%	-1%	0%	-4%	-4%	-2%	-1%
Interest expense	4.8	5.1	6.1	7.7	9.5	10.2	8.4	9.6	9.1	8.9	8.8	8.4	7.7	7.7	7.9	8.0	7.6	7.2	7.8	7.2
Pre-tax income	-107	-21.3	-21.8	-32.4	13.1	35.9	50.8	52.6	41.7	76.9	90.0	28.1	24.0	16.8	-13.2	-4.6	-41.9	-32.1	-23.2	-13.7
Tax rate	n/a	n/a	n/a	n/a	40%	24%	24%	31%	38%	33%	29%	37%	55%	48%	n/a	n/a	n/a	n/a	n/a	n/a
Net income	-103	-25.0	-19.4	-37.3	7.6	26.6	38.3	35.8	25.2	51.5	63.3	17.2	10.3	8.6	-13.9	-2.3	-52.5	-30.5	-31.6	-14.9
Net margin	-12%	-3%	-2%	-4%	1%	3%	4%	4%	2%	5%	5%	2%	1%	1%	-1%	-0%	-6%	-4%	-4%	-2%
Diluted EPS	-$6.14	-$1.48	-$1.15	-$2.20	$0.44	$1.55	$2.21	$2.06	$1.43	$2.93	$3.58	$0.97	$0.58	$0.48	-$0.79	-$0.13	-$2.96	-$1.71	-$1.76	-$0.83
Operating cash flow	-61.7	59.1	-58.9	34.1	6.3	9.0	35.8	60.3	45.6	22.4	-2.5	70.1	80.7	-36.4	28.9	37.1	56.5	-32.9	16.7	26.3
Capital expenditure	14.8	9.7	5.6	4.4	9.1	3.3	7.3	8.3	16.5	7.5	12.2	10.2	17.9	10.6	13.8	14.5	23.6	9.8	14.7	13.8
Free cash flow	-76.5	49.4	-64.5	29.7	-2.8	5.7	28.5	52.0	29.1	14.9	-14.7	59.9	62.8	-47.0	15.1	22.6	32.9	-42.7	2.0	12.5
Buybacks	n/a	0.0	0.0	0.0	0.0	0.1	0.0	0.0	-0.1	9.1	0.0	0.0	-23.1	4.5	-0.1	0.1	-9.0	0.7	0.0	0.0
Dividends paid	5.4	5.4	5.5	5.5	5.4	5.6	5.5	5.6	5.6	5.7	6.1	6.1	6.1	6.2	6.4	6.3	6.5	6.4	6.6	6.6
Shares outstanding	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	18m	18m	18m	18m	18m	18m	18m	18m
Filing	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q

Each quarter as filed, linked to its filing.

* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. A fourth quarter's EPS, and its diluted share count where shown, are from the company's results press release for that quarter, checked against the company's filed figures or a second data source. A quarter marked † is shown as the company last restated it in a later filing, so it compares with the quarters around it on one basis; rest on a figure for the one first filed. EPS is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.

10-Q for the period ended 30 September 2026, filed 5 November 2026: the filing.