Document

0001173514-16-000194.txt : 20161101 0001173514-16-000194.hdr.sgml : 20161101 20161101172554 ACCESSION NUMBER: 0001173514-16-000194 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20161101 ITEM INFORMATION: Results of Operations and Financial Condition ITEM INFORMATION: Regulation FD Disclosure ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20161101 DATE AS OF CHANGE: 20161101 FILER: COMPANY DATA: COMPANY CONFORMED NAME: HYSTER-YALE MATERIALS HANDLING, INC. CENTRAL INDEX KEY: 0001173514 STANDARD INDUSTRIAL CLASSIFICATION: INDUSTRIAL TRUCKS TRACTORS TRAILERS & STACKERS [3537] IRS NUMBER: 311637659 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 000-54799 FILM NUMBER: 161965690 BUSINESS ADDRESS: STREET 1: 5875 LANDERBROOK DRIVE STREET 2: SUITE 300 CITY: CLEVELAND STATE: OH ZIP: 44124 BUSINESS PHONE: 4404499600 MAIL ADDRESS: STREET 1: 5875 LANDERBROOK DRIVE STREET 2: SUITE 300 CITY: CLEVELAND STATE: OH ZIP: 44124 FORMER COMPANY: FORMER CONFORMED NAME: HYSTER YALE MATERIALS HANDLING INC. DATE OF NAME CHANGE: 20120628 FORMER COMPANY: FORMER CONFORMED NAME: NMHG HOLDING CO DATE OF NAME CHANGE: 20020515 8-K 1 hy93016dataschedule8k.htm 8-K Document

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, DC 20549

_______________________________________________________________________________________________________________________________________________________________________________________________________

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 OR 15(d) of The Securities Exchange Act of 1934



Date of Report (Date of earliest event reported):		November 1, 2016

HYSTER-YALE MATERIALS HANDLING, INC.
(Exact name of registrant as specified in its charter)

DELAWARE	000-54799	31-1637659
(State or other jurisdiction of incorporation)	(Commission File Number)	(IRS Employer Identification No.)

5875 LANDERBROOK DRIVE, SUITE 300, CLEVELAND, OHIO		44124-4069
(Address of principal executive offices)		(Zip code)

(440) 449-9600
(Registrant's telephone number, including area code)

N/A
(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

[ ] Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

[ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

[ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

[ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Item 2.02 Results of Operations and Financial Condition and

Item 7.01 Regulation FD Disclosure.

On November 1, 2016, Hyster-Yale Materials Handling, Inc. (the “Company”) will post on its website at www.hyster-yale.com additional historical quarterly financial data and update the schedules that were previously posted to the website for the third quarter 2016 results. A copy of the data is attached as Exhibit 99 to this Current Report on Form 8-K.

This Current Report on Form 8-K and the information attached hereto are being furnished by the Company pursuant to Item 2.02 of Form 8-K, insofar as they disclose historical information regarding the Company's results of operations.

The information in this Current Report on Form 8-K, including Exhibit 99, shall not be deemed “filed” for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liability of that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, except as shall be expressly set forth by specific reference in such a filing.

Item 9.01 Financial Statements and Exhibits.

As described in Item 2.02 and 7.01 of this Current Report on Form 8-K, the following Exhibit is furnished as part of this Current Report on Form 8-K.



(d) Exhibits

99		Hyster-Yale Materials Handling, Inc. historical quarterly financial data, as posted on its website at www.hyster-yale.com on November 1, 2016.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.




Date:	November 1, 2016		HYSTER-YALE MATERIALS HANDLING, INC.

		By:	/s/ Kenneth C. Schilling
			Name: Kenneth C. Schilling
			Title: Senior Vice President and Chief Financial Officer

EXHIBIT INDEX



Exhibit Number		Description

99		Hyster-Yale Materials Handling, Inc. historical quarterly financial data, as posted on its website at www.hyster-yale.com on November 1, 2016.

EX-99 2 hydataschedule93016ex99.htm EXHIBIT 99 Exhibit



													EXHIBIT 99
Hyster-Yale Materials Handling, Inc.
(in millions, except percentage data)

	Backlog (in thousands)
	Q1	Q2	Q3	Q4	FY
2015	31.9	30.9	27.1	26.9	26.9
2016	29.9	30.5	30.6

	Unit Shipments (in thousands)
	Q1	Q2	Q3	Q4	FY
2015	19.9	22.4	22.4	22.2	86.9
2016	20.5	21.1	20.3

	Revenues - Americas						Revenues - Americas - % change yr. over yr.
	Q1	Q2	Q3	Q4	FY		Q1		Q2		Q3		Q4		FY
2015	415.9	463.9	454.1	441.6	1,775.5	2015	-9.0	%	5.2	%	-5.2	%	-9.9	%	-4.9	%
2016	417.2	411.8	408.4			2016	0.3	%	-11.2	%	-10.1	%

	Revenues - EMEA						Revenues - EMEA - % change yr. over yr.
	Q1	Q2	Q3	Q4	FY		Q1		Q2		Q3		Q4		FY
2015	157.6	146.2	145.1	157.5	606.4	2015	-6.7	%	-20.6	%	-11.3	%	-7.1	%	-11.6	%
2016	147.0	155.6	137.1			2016	-6.7	%	6.4	%	-5.5	%

	Revenues - JAPIC						Revenues - JAPIC - % change yr. over yr.
	Q1	Q2	Q3	Q4	FY		Q1		Q2		Q3		Q4		FY
2015	47.6	48.2	52.4	45.5	193.7	2015	-5.0	%	-19.3	%	-1.5	%	-10.8	%	-9.5	%
2016	39.7	39.1	46.2			2016	-16.6	%	-18.9	%	-11.8	%

	Revenues - Bolzoni ⁽⁴⁾						Revenues - Bolzoni - % change yr. over yr. ⁽⁴⁾
	Q1	Q2	Q3	Q4	FY		Q1		Q2		Q3		Q4		FY
2016	—	38.9	36.2			2016	—		n.m.		n.m.

	Revenues - Nuvera						Revenues - Nuvera - % change yr. over yr.
	Q1	Q2	Q3	Q4	FY		Q1		Q2		Q3		Q4		FY
2015	1.2	0.4	0.5	0.4	2.5	2015	n.m.		n.m.		n.m.		n.m.		n.m.
2016	0.3	0.2	1.4			2016	n.m.		n.m.		n.m.

	Revenues - Consolidated						Revenues - Consolidated - % change yr. over yr.
	Q1	Q2	Q3	Q4	FY		Q1		Q2		Q3		Q4		FY
2015	622.3	658.7	652.1	645.0	2,578.1	2015	-7.9	%	-3.8	%	-6.3	%	-9.2	%	-6.8	%
2016	604.2	645.6	629.3			2016	-2.9	%	-2.0	%	-3.5	%

	Gross Profit						Gross Profit %
	Q1	Q2	Q3	Q4	FY		Q1		Q2		Q3		Q4		FY
2015	102.9	110.6	106.7	110.6	430.8	2015	16.5	%	16.8	%	16.4	%	17.1	%	16.7	%
2016	97.9	114.0	104.6			2016	16.2	%	17.7	%	16.6	%

	Operating Expenses						Operating Expenses as a % of revenues
	Q1	Q2	Q3	Q4	FY		Q1		Q2		Q3		Q4		FY
2015	81.9	83.3	77.7	84.4	327.3	2015	13.2	%	12.6	%	11.9	%	13.1	%	12.7	%
2016	88.2	102.6	99.2			2016	14.6	%	15.9	%	15.8	%

	Operating Profit (Loss)						Operating Profit (Loss) %
	Q1	Q2	Q3	Q4	FY		Q1		Q2		Q3		Q4		FY
2015	21.0	27.3	29.0	26.2	103.5	2015	3.4	%	4.1	%	4.4	%	4.1	%	4.0	%
2016	9.7	11.4	5.4			2016	1.6	%	1.8	%	0.9	%



Hyster-Yale Materials Handling, Inc.
(in millions, except percentage data)

	Interest (Income) Expense
	Q1		Q2		Q3		Q4		FY
2015	0.7		1.0		1.0		0.5		3.2
2016	0.7		1.3		1.4

	Other (Income) Expense
	Q1		Q2		Q3		Q4		FY
2015	0.6		(1.1	)	(0.4	)	(3.3	)	(4.2	)
2016	0.1		(1.7	)	(2.9	)

	Income (Loss) Before Taxes											Effective Income Tax Rate
	Q1		Q2		Q3		Q4		FY			Q1		Q2		Q3		Q4		FY
2015	19.7		27.4		28.4		29.0		104.5		2015	28.9	%	16.8	%	26.1	%	40.3	%	28.1	%
2016	8.9		11.8		6.9						2016	n.m.		29.7	%	n.m.

	Net Income (Loss) Attributable to Stockholders
	Q1		Q2		Q3		Q4		FY
2015	13.9		22.7		20.9		17.2		74.7
2016	10.0		8.3		12.3


	Depreciation and Amortization Expense
	Q1		Q2		Q3		Q4		FY
2015	7.3		7.6		7.2		6.8		28.9
2016	6.9		10.2		11.6

	Net Working Capital ⁽¹⁾
	Q1		Q2		Q3		Q4		FY
2015	322.5		369.6		357.8		333.3		333.3
2016	336.7		367.1		365.6

	Capital Expenditures
	Q1		Q2		Q3		Q4		FY
2015	9.8		8.9		10.2		17.7		46.6
2016	6.6		10.6		11.1

	Net Cash Provided By (Used For) Operating Activities
	Q1		Q2		Q3		Q4		FY
2015	(3.4	)	0.6		34.1		58.1		89.4
2016	(18.3	)	(4.6	)	45.8

	Net Cash Provided By (Used For) Investing Activities
	Q1		Q2		Q3		Q4		FY
2015	(8.0	)	(1.7	)	(7.3	)	(14.3	)	(31.3	)
2016	1.8		(118.0	)	(10.3	)

	Cash Flow Before Financing Activities ⁽²⁾
	Q1		Q2		Q3		Q4		FY
2015	(11.4	)	(1.1	)	26.8		43.8		58.1
2016	(16.5	)	(122.6	)	35.5



Hyster-Yale Materials Handling, Inc.
(in millions, except percentage data)

		Net Cash Provided By (Used For) Financing Activities
		Q1		Q2	Q3		Q4		FY
2015		(0.6	)	6.1	(10.3	)	(2.3	)	(7.1	)
2016		(5.1	)	36.1	(3.0	)

		Dividends Paid to Stockholders
		Q1		Q2	Q3		Q4		FY
2015		4.5		4.7	4.6		4.6		18.4
2016		4.7		4.8	4.8

		Total Debt
		Q1		Q2	Q3		Q4		FY
2015		35.1		53.7	47.0		53.1		53.1
2016		63.0		150.6	152.8

		Equity										Return on Equity ⁽³⁾
		Q1		Q2	Q3		Q4		FY			Q1		Q2		Q3		Q4		FY
2015		422.0		457.9	458.4		462.7		462.7		2015	21.9	%	19.8	%	18.5	%	16.5	%	16.5	%
2016		495.9		501.4	513.0						2016	15.4	%	11.9	%	9.8	%

(1	)	Net working capital is equal to accounts receivable, net plus inventories, net less accounts payable.
(2	)	Cash flow before financing activities is equal to net cash provided by (used for) operating activities plus net cash provided by (used for) investing activities.
(3	)	Return on equity is equal to the sum of the previous 4 quarters net income divided by average equity calculated over the last 5 quarters.
(4	)	Bolzoni was acquired on April 1, 2016.




Lift Truck Business
(in millions, except percentage data)

	Backlog (in thousands)
	Q1	Q2	Q3	Q4	FY
2015	31.9	30.9	27.1	26.9	26.9
2016	29.9	30.5	30.6

	Unit Shipments (in thousands)
	Q1	Q2	Q3	Q4	FY
2015	19.9	22.4	22.4	22.2	86.9
2016	20.5	21.1	20.3

	Revenues - Americas						Revenues - Americas - % change yr. over yr.
	Q1	Q2	Q3	Q4	FY		Q1		Q2		Q3		Q4		FY
2015	415.9	463.9	454.1	441.6	1,775.5	2015	-9.0	%	5.2	%	-5.2	%	-9.9	%	-4.9	%
2016	417.2	411.8	408.4			2016	0.3	%	-11.2	%	-10.1	%

	Revenues - EMEA						Revenues - EMEA - % change yr. over yr.
	Q1	Q2	Q3	Q4	FY		Q1		Q2		Q3		Q4		FY
2015	157.6	146.2	145.1	157.5	606.4	2015	-6.7	%	-20.6	%	-11.3	%	-7.1	%	-11.6	%
2016	147.0	155.6	137.1			2016	-6.7	%	6.4	%	-5.5	%

	Revenues - JAPIC						Revenues - JAPIC - % change yr. over yr.
	Q1	Q2	Q3	Q4	FY		Q1		Q2		Q3		Q4		FY
2015	47.6	48.2	52.4	45.5	193.7	2015	-5.0	%	-19.3	%	-1.5	%	-10.8	%	-9.5	%
2016	39.7	39.1	46.2			2016	-16.6	%	-18.9	%	-11.8	%

	Revenues - Lift Truck Business						Revenues - Lift Truck Business - % change yr. over yr.
	Q1	Q2	Q3	Q4	FY		Q1		Q2		Q3		Q4		FY
2015	621.1	658.3	651.6	644.6	2,575.6	2015	-8.1	%	-3.9	%	-6.4	%	-9.3	%	-6.9	%
2016	603.9	606.5	591.7			2016	-2.8	%	-7.9	%	-9.2	%

	Gross Profit						Gross Profit %
	Q1	Q2	Q3	Q4	FY		Q1		Q2		Q3		Q4		FY
2015	103.7	111.0	106.9	111.0	432.6	2015	16.7	%	16.9	%	16.4	%	17.2	%	16.8	%
2016	98.5	101.6	95.7			2016	16.3	%	16.8	%	16.2	%

	Operating Expenses						Operating Expenses as a % of revenues
	Q1	Q2	Q3	Q4	FY		Q1		Q2		Q3		Q4		FY
2015	76.7	77.8	71.3	78.7	304.5	2015	12.3	%	11.8	%	10.9	%	12.2	%	11.8	%
2016	82.7	82.6	75.2			2016	13.7	%	13.6	%	12.7	%

	Operating Profit (Loss)						Operating Profit (Loss) %
	Q1	Q2	Q3	Q4	FY		Q1		Q2		Q3		Q4		FY
2015	27.0	33.2	35.6	32.3	128.1	2015	4.3	%	5.0	%	5.5	%	5.0	%	5.0	%
2016	15.8	19.0	20.5			2016	2.6	%	3.1	%	3.5	%



Lift Truck Business
(in millions, except percentage data)

	Interest (Income) Expense
	Q1		Q2		Q3		Q4		FY
2015	0.7		1.0		1.0		0.5		3.2
2016	0.7		0.9		1.2

	Other (Income) Expense
	Q1		Q2		Q3		Q4		FY
2015	0.6		(1.1	)	(0.4	)	(3.3	)	(4.2	)
2016	0.1		(1.7	)	(2.9	)

	Income (Loss) Before Taxes											Effective Income Tax Rate
	Q1		Q2		Q3		Q4		FY			Q1		Q2		Q3		Q4		FY
2015	25.7		33.3		35.0		35.1		129.1		2015	31.5	%	21.0	%	28.6	%	40.7	%	30.5	%
2016	15.0		19.8		22.2						2016	22.7	%	34.3	%	n.m.

	Net Income (Loss) Attributable to Stockholders
	Q1		Q2		Q3		Q4		FY
2015	17.5		26.2		24.9		20.7		89.3
2016	13.7		13.1		21.9


	Depreciation and Amortization Expense
	Q1		Q2		Q3		Q4		FY
2015	6.9		7.1		6.9		6.4		27.3
2016	6.5		7.0		7.3

	Net Working Capital ⁽¹⁾
	Q1		Q2		Q3		Q4		FY
2015	318.7		365.3		353.3		327.2		327.2
2016	328.1		319.7		306.7

	Capital Expenditures
	Q1		Q2		Q3		Q4		FY
2015	9.8		7.9		9.6		16.6		43.9
2016	6.0		9.7		9.5

	Net Cash Provided By (Used For) Operating Activities
	Q1		Q2		Q3		Q4		FY
2015	1.1		3.6		38.0		63.3		106.0
2016	(11.6	)	11.3		56.0

	Net Cash Provided By (Used For) Investing Activities
	Q1		Q2		Q3		Q4		FY
2015	(8.0	)	(0.7	)	(6.8	)	(13.2	)	(28.7	)
2016	2.4		(102.7	)	(9.0	)



Lift Truck Business
(in millions, except percentage data)

		Cash Flow Before Financing Activities ⁽²⁾
		Q1		Q2		Q3		Q4		FY
2015		(6.9	)	2.9		31.2		50.1		77.3
2016		(9.2	)	(91.4	)	47.0

		Net Cash Provided By (Used For) Financing Activities
		Q1		Q2		Q3		Q4		FY
2015		(4.3	)	2.1		(14.7	)	(8.5	)	(25.4	)
2016		(12.3	)	(3.3	)	(13.4	)

(1	)	Net working capital is equal to accounts receivable, net plus inventories, net less accounts payable.
(2	)	Cash flow before financing activities is equal to net cash provided by (used for) operating activities plus net cash provided by (used for) investing activities.



Bolzoni ⁽¹⁾
(in millions, except percentage data)

		Revenues
		Q1	Q2		Q3		Q4	FY
2016		—	38.9		36.2

		Gross Profit (Loss)
		Q1	Q2		Q3		Q4	FY
2016		—	12.8		9.2

		Operating Expenses
		Q1	Q2		Q3		Q4	FY
2016		—	12.1		11.7

		Operating Profit (Loss)
		Q1	Q2		Q3		Q4	FY
2016		—	0.7		(2.5	)

		Income (Loss) Before Taxes
		Q1	Q2		Q3		Q4	FY
2016		—	0.3		(2.7	)

		Effective Income Tax Rate
		Q1	Q2		Q3		Q4	FY
2016		—	33.3	%	18.5	%

		Net Income (Loss) Attributable to Stockholders
		Q1	Q2		Q3		Q4	FY
2016		—	0.1		(2.0	)

(1	)	Bolzoni was acquired on April 1, 2016.




Nuvera
(in millions, except percentage data)

	Revenues
	Q1		Q2		Q3		Q4		FY
2015	1.2		0.4		0.5		0.4		2.5
2016	0.3		0.2		1.4

	Gross Profit (Loss)
	Q1		Q2		Q3		Q4		FY
2015	(0.8	)	(0.4	)	(0.2	)	(0.4	)	(1.8	)
2016	(0.6	)	(0.4	)	(0.3	)

	Operating Expenses
	Q1		Q2		Q3		Q4		FY
2015	5.2		5.5		6.4		5.7		22.8
2016	5.5		7.9		12.3

	Operating Profit (Loss)
	Q1		Q2		Q3		Q4		FY
2015	(6.0	)	(5.9	)	(6.6	)	(6.1	)	(24.6	)
2016	(6.1	)	(8.3	)	(12.6	)

	Income (Loss) Before Taxes
	Q1		Q2		Q3		Q4		FY
2015	(6.0	)	(5.9	)	(6.6	)	(6.1	)	(24.6	)
2016	(6.1	)	(8.3	)	(12.6	)

	Effective Income Tax Rate
	Q1		Q2		Q3		Q4		FY
2015	40.0	%	40.7	%	39.4	%	42.6	%	40.7	%
2016	39.3	%	41.0	%	39.7	%

	Net Income (Loss) Attributable to Stockholders
	Q1		Q2		Q3		Q4		FY
2015	(3.6	)	(3.5	)	(4.0	)	(3.5	)	(14.6	)
2016	(3.7	)	(4.9	)	(7.6	)