Hyster-yale materials handling announces first quarter 2023 results

Q1 2023 highlights:   consolidated revenues of nearly $1 billion increased 21% over q1 2022 due to higher pricing and sales volumes, and an improved sales mix consolidated operating profit of $42.6 million and consolidated net income of $26.6 million compared with losses in q1 2022 lift truck operating profit of $47.8 million and 5% operating margin were significantly ahead of expectations despite continued production challenges and currency headwinds average sales price per backlog unit increased nearly 34% over q1 2022 and 2% over q4 2022 bolzoni operating profit of $4.4 million more than doubled from q1 2022 full-year 2023 outlook: substantial consolidated net income is expected for 2023 full year as a result of significantly improved profitability at the lift truck and bolzoni businesses compared with 2022 cleveland , may 2, 2023 /prnewswire/ -- hyster-yale materials handling, inc. (nyse: hy) reported the following consolidated results for the three months ended march 31, 2023:      three months ended ($ in millions except per share amounts) 3/31/23 3/31/22 changefav (unfav) revenues $999.3 $827.6 $171.7 operating profit (loss) $42.6 $(18.3) $60.9 net income (loss) $26.6 $(25.0) $51.6 diluted earnings (loss) /share $1.55 $(1.48) $3.03 lift truck business results revenues and shipments by geographic segment were as follows: ($ in millions) q1 2023 q1 2022 changefav (unfav) revenues $948.7 $779.1 $169.6    americas(1) $685.9 $557.7 $128.2    emea(1) $214.9 $169.7 $45.2    japic(1) $47.9 $51.7 $(3.8) (1) the americas segment includes the north america, latin america and brazil markets, emea includes operations in the europe, middle east and africa markets, and japic includes operations in the asia and pacific markets, including china. (rounded to nearest hundred) q1 2023 q1 2022 changefav (unfav) q4 2022 changefav (unfav) unit shipments 25,200 23,900 1,300 27,100 (1,900)    americas 16,100 14,600 1,500 16,000 100    emea 6,800 6,500 300 7,800 (1,000)    japic 2,300 2,800 (500) 3,300 (1,000) first-quarter 2023 lift truck revenues increased by 21.8% compared with the prior year first quarter while consolidated unit shipments increased by 5.4%.
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