Consolidated revenues for Hyster-Yale, Inc. decreased by 12.5% year-over-year to $3,769.3 million in 2025 from $4,308.2 million in 2024. The company reported a consolidated operating loss of $22.1 million in 2025, a sharp decline from an operating profit of $244.8 million in 2024. Net income attributable to stockholders plummeted from a profit of $142.3 million in 2024 to a loss of $60.1 million in 2025. Gross profit margin decreased from 20.8% in 2024 to 16.8% in 2025, while operating expenses as a percentage of revenue increased from 15.1% to 17.4%. Restructuring and impairment charges significantly increased to $38.4 million in 2025, up from $22.6 million in 2024. Cash flow before financing activities saw a substantial reduction, falling to $23.4 million in 2025 from $123.1 million in 2024. Total debt increased to $494.3 million in 2025 from $440.7 million in 2024, leading to an increase in debt to total capitalization from 47.1% to 50.9%. Return on Equity (ROE) turned negative at -11.4% in 2025, compared to a positive 30.1% in 2024. The Lift Truck Business segment experienced a 13.3% revenue decrease and shifted from an operating profit of $235.7 million in 2024 to an operating loss of $24.1 million in 2025. The Bolzoni segment also saw a revenue decline of 12.1% and a significant drop in operating profit to $0.3 million in 2025 from $9.1 million in 2024.