HYSTER-YALE Business Summary

Hyster-Yale, Inc. (HY) operates a diversified industrial business model primarily centered on the design, manufacture, and service of lift trucks and material handling solutions. The company generates revenue through three core segments: the Lift Truck business, which markets under the Hyster® and Yale® brands; Bolzoni, a global producer of attachments, forks, and lift tables; and Nuvera, focused on hydrogen fuel cell stacks and engines. Revenue is derived from high-value equipment sales, recurring high-margin aftermarket parts, and comprehensive maintenance services. As of 2026, the company is aggressively pivoting toward electrification and automated guided vehicles (AGVs) to capture growth in the logistics and warehousing sectors. Hyster-Yale maintains a top-tier global position, ranking approximately sixth in the forklift market, where it competes directly with industry leaders such as Toyota Material Handling, KION Group, Jungheinrich AG, and Mitsubishi Logisnext. Hyster-Yale’s modern corporate structure was established via a 2012 spin-off from NACCO Industries, though its heritage traces back to industry pioneers Linus Yale Jr. and Henry R. Towne (Yale, 1875) and Ernest G. Swigert (Hyster, 1929). The current leadership team is led by Rajiv K. Prasad, President and CEO of Hyster-Yale, Inc., and Alfred M. Rankin, Jr., who serves as Executive Chairman. Anthony J. Salgado, a 28-year industry veteran formerly of UniCarriers/Nissan, serves as President and CEO of the primary operating subsidiary, Hyster-Yale Materials Handling. Other key executives include Scott A. Minder (SVP & CFO) and James Adams (CTO and VP of Engineering). The company remains heavily influenced by the Rankin family through Rankin Management, Inc., while maintaining significant institutional backing from major investors including BlackRock, The Vanguard Group, and Dimensional Fund Advisors.