Hyster-Yale Surprises With Rising Earnings
The industrial sector has started to pick up steam after a long down period, and that has led some areas of the economy that often go unseen to start performing better. Hyster-Yale Materials Handling (NYSE: HY) manufactures forklifts, and now that its customers are starting to do better in their own businesses, they've started to spend more money on capital expenditures that can turn into better prospects for Hyster-Yale's future.
Coming into Friday's third-quarter financial report, Hyster-Yale investors were prepared for profits to decline from year-ago levels but wanted solid top-line gains. Hyster-Yale did a lot better than that, crushing sales growth estimates and boosting its profit from year-earlier figures. Let's look more closely at how Hyster-Yale gave its shareholders a nice surprise.
Image source: Hyster-Yale.
Source: Fool.com
