Hyster-Yale Materials Handling, Inc. (NYSE:HY) Q1 2022 Earnings Conference Call May 4, 2022 11:00 AM ET

Company Participants

Christina Kmetko - IR

Alfred Rankin - Chairman and CEO

Rajiv Prasad - President

Kenneth Schilling - SVP and CFO

Conference Call Participants

Steve Ferazani - Sidoti & Company

Chip Moore - EF Hutton

Brett Kearney - Gabelli Funds

Operator

Good day, and thank you for standing by, and welcome to the Hyster-Yale Quarter 1 2022 Earnings Conference Call. At this time all participants are in a listen-only mode. [Operator Instructions] Please be advised that today's conference is being recorded [Operator Instructions].

I would now like to hand the conference over to your speaker today, Christina Kmetko. Please go ahead.

Christina Kmetko

Thank you. Good morning, everyone, and thanks for joining us this morning. Welcome to our 2022 First Quarter Earnings Call. I am Christina Kmetko, and I am responsible for Investor Relations at Hyster-Yale.

Joining me on today's call are Al Rankin, Chairman and Chief Executive Officer; Rajiv Prasad, President; and Ken Schilling, our Senior Vice President and Chief Financial Officer.

Yesterday evening, we published our 2002 first quarter results and filed our 10-Q, both of which are available on our website. Today's call is being recorded and webcast. The webcast will be on our website later this afternoon and available for approximately 12 months.

Our remarks that follow, including answers to your questions, contain forward-looking statements. These statements are subject to a number of risks and uncertainties that could cause actual results to differ materially from those expressed in the forward-looking statements made here today. These risks include, among others, matters that we have described in our earnings release issued last night and in our 10-Q and other filings with the SEC. We disclaim any obligation to update these forward-looking statements, which may not be updated until our next quarterly earnings conference call, if at all.

In a moment, I'll discuss our current quarter results. But first, let me turn the call over to our Chairman and CEO, Al Rankin, for some opening remarks. Al?

Alfred Rankin

Thanks, Christie, and good morning, everyone. Overall, our first quarter results reflect the impact of the various headwinds that we discussed in last quarter's outlook. Despite these headwinds and while reporting operating and net losses, our results are substantially better than we anticipated in our fourth quarter earnings release, with all 3 segments, particularly the Lift Truck business, reporting better-than-expected results.