HY - Hyster-Yale Price Rebound Signals Return To Growth Trajectory

2024-05-11 03:13:00 ET

Summary

• Hyster-Yale's stock price jumped dramatically after posting solid Q1 earnings, beating revenue predictions and exceeding EPS estimates.
• The price is back on track after a dip following the Q4-2023 earnings release.
• Hyster-Yale is a globally integrated lift truck company with a strong market position and competitive advantages in the industry.

Thesis

On Tuesday, May 7, 2024, Hyster-Yale Materials Handling, Inc. ( HY ) posted its first quarter-2024 earnings report . When markets opened the next morning the stock price shot up, closing 23.55% higher. The following day saw the price jump again, by another 8.35%. Altogether, the stock price climbed from $59.02 to $79.01 in the space of two days.

Was there something incredibly huge in the earnings announcement from the lift truck company? No, but it was a solid report with revenue of $1.1 billion, $70 million more than predicted, while its GAAP EPS of $2.93 beat estimates by $0.79....

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