Hyster-Yale Makes Strategic Realignment to Reduce Major Costs in Q2

Hyster-Yale, Inc. (NYSE:HY) is one of the 10 Best Small Cap Robotics Stocks to Buy Now. On April 30, Hyster-Yale, Inc. (NYSE:HY) announced a strategic realignment of its Nuvera fuel cell business initiated to reduce major costs and increase near-term profits.

The realignment of Nuvera will create an integrated energy solutions program at Hyster-Yale’s Billerica, Massachusetts facility, which will be part of the Lift Truck business. The company expects this strategic realignment to achieve direct annualized cost reductions of around $15-$20 million beginning in the second half of 2025. Hyster-Yale, Inc. (NYSE:HY) expects a further $10-$15 million of Nuvera’s costs to be reduced by the Lift Truck business.

This will assist in accelerating the development of batteries and related services and mobile charging products. This development will approximately lead to employee severance and impairment costs of around $15-$18 million expected in Q2 2025.

Hyster-Yale, Inc. (NYSE:HY) is a wholly owned subsidiary that designs, engineers, manufactures, and sells a range of lift trucks and aftermarket parts.

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Disclosure: None. This article is originally published at Insider Monkey.