Hyster-yale materials handling announces second quarter 2021 results

Cleveland, aug. 3, 2021 /prnewswire/ -- quarter highlights:   record q2 2021 bookings of 46,900 units up 10.6% from q1 2021 (prior record) bookings and significantly higher than pandemic-affected bookings of 14,300 units in q2 2020 q2 2021 consolidated shipments increased 12.9% and revenues increased 17.0% from abnormally low q2 2020 unit shipment and revenue levels that resulted from prior-year, pandemic-related plant shutdowns, primarily in emea despite record booking and backlog levels, q2 2021 shipments severely affected by component availability q2 2021 consolidated operating profit decreased to $5.9 million from $8.7 million in q2 2020 as a result of material and freight cost inflation of $11.0 million, $5.0 million of manufacturing variances resulting largely from component shortages and higher operating expenses resulting from the elimination of cost containment actions taken in 2020, the impact of which is estimated to be approximately $14 million q2 2021 net income of $1.9 million, or $0.11 per share, decreased from $3.6 million, or $0.21 per share, in q2 2020 hyster-yale materials handling, inc. (nyse: hy) today announced consolidated revenues of $765.6 million and consolidated net income of $1.9 million, or $0.11 per diluted share, for the second quarter of 2021 compared with consolidated revenues of $654.4 million and consolidated net income of $3.6 million, or $0.21 per diluted share, for the second quarter of 2020. consolidated operating profit decreased to $5.9 million in 2021 from $8.7 million in 2020.
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