Hyster-yale materials handling announces fourth quarter and full year 2022 results

Q4 2022 highlights:   record consolidated revenues of $985.2 million increased 18.7% over the prior year quarter due to higher pricing and favorable sales mix across all lift truck segments consolidated operating profit of $19.8 million and consolidated net income of $7.6 million versus losses in q3 2022 and q4 2021 due to higher unit margins lift truck operating profit significantly ahead of company expectations despite component shortages and unfavorable currency effects average sales price per unit in backlog increased 33.6% over q4 2021 and 6.8% versus q3 2022 as long-standing, lower-priced backlog orders were fulfilled bolzoni returned to profitability despite a $2.4 million loss on sale of a subsidiary in q4 2022 full- year 2023 outlook: substantial consolidated net income expected for 2023 full year as a result of significantly improved profitability at the lift truck and bolzoni businesses versus 2022 cleveland , feb. 27, 2023 /prnewswire/ -- hyster-yale materials handling, inc. (nyse: hy) today announced the following consolidated results for the three months and year ended december 31, 2022: three months ended year ended ($ in millions except per share amounts) 12/31/22 12/31/21 change fav (unfav) 12/31/22 12/31/21 change fav (unfav) revenues $985.2 $829.7 $155.5 $3,548.3 $3,075.7 $472.6 operating profit (loss) $19.8 $(107.0) $126.8 $(39.1) $(152.3) $113.2 net income (loss) $7.6 $(103.3) $110.9 $(74.1) $(173.0) $98.9 diluted earnings (loss) /share $0.44 $(6.14) $6.58 $(4.38) $(10.29) $5.91 the fourth-quarter 2022 operating profit includes a $2.4 million loss on sale of a bolzoni subsidiary. the fourth-quarter 2021 operating loss included a non-cash goodwill impairment charge of $55.6 million in the japic segment, including $11.7 million for the non-controlling interest share, resulting in a $43.9 million net impact on the 2021 net loss.
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