Hyster-yale materials handling reports q1 earnings per share of $0.91

Hyster-yale materials handling announces first quarter 2020 results.q1 earnings per share $0.91.q1 revenue $785.7 million.production was reduced or suspended in several of company's asian and european facilities during q1.company's q1 2020 results were only moderately affected by covid-19 pandemic.cost cutting actions include suspension of incentive payments for company's 2020 incentive plans.cost cutting actions include hiring freezes at all businesses.cost cutting actions include minimization or elimination of substantially all contract and temporary workers.hyster-yale materials handling - cost containment actions at north american locations include 10% reduction in base salaries for salaried employees.hyster-yale materials handling - implementation of cost reduction actions targeted to achieve $80 million to $110 million in operating expense savings in 2020.capital expenditures for 2020 are now expected to be approximately $55 million.hyster-yale materials handling - as of march 31, had unused borrowing capacity of approximately $194 million under existing revolving credit facilities.
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