May 17, 2020

Hyster-Yale report $24.9m profit after Nacco spinoff

Materials Handling
Lift Trucks
Freddie Pierce
2 min
Hyster-Yale separated from Nacco Corp in September
Lift truck manufacturer Hyster-Yale Materials Handling has announced a $24.9 million profit in its first ever earnings report as a standalone company...

Lift truck manufacturer Hyster-Yale Materials Handling has announced a $24.9 million profit in it’s first ever earnings report as a standalone company.

Following a spinoff from Nacco Corporation, which was completed in late September, Hyster-Yale made a 42 percent gain in the third quarter of 2012 compared with 2011’s third quarter earnings as a Nacco division.

The net income gains were driven primarily by improved gross margins as a result of price increases in Europe and the Americas, in addition to ‘a favorable shift in sales mix in the Americas to higher-margin products and in Europe to higher-margin markets and products’, according to a statement released by the company.

Also contributing to the increase in net income, specifically in the Americas were favorable foreign currency movements which lowered the cost of trucks and components imported from facilities and suppliers located in countries that use the weakened euro and British pound.

Future forecasts may be threatened by the economic decline, according to the company, who expect sales to fall sharply in Europe. Hyster-Yale hopes to offset some of it’s projected losses with gains from the Americas, primarily Brazil and Latin America, as well as predicting moderate growth in Asia-Pacific, Middle east and African markets.

In an online statement, Hyster-Yale stated that it ‘anticipates a slight decrease in overall shipment levels and comparable parts volume in the 2012 fourth quarter compared with 2011, but an overall increase in shipments and parts volumes in all markets in 2013 compared with 2012, with the majority of this increase driven by the Americas.’

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Jun 15, 2021

FedEx is Reshaping Last Mile with Autonomous Vehicles

3 min
FedEx is expanding a trial of autonomous vehicles in its last-mile logistics process with partner Nuro, including multi-stop and appointment deliveries

FedEx is embarking on an expanded test of autonomous, driver-less delivery vehicles to develop its last-mile logistics. 

The US logistics firm piloted autonomous vehicles from Nuro in April this year, and the pair will now explore that further in a multi-year partnership. Cosimo Leipold, Nuro’s head of partnerships, said the collaboration "will enable innovative, industry-first product offerings that will better everyday life and help make communities safer and greener". 

FedEx will explore a variety of on-road use cases for the autonomous fleet, including multi-stop and appointment-based deliveries, going beyond more traditional applications of the technology in single-route movement of goods from A-B. Exponential growth in ecommerce is spurring its broader experimentation in new autonomy solutions, Fed-Ex says, both in-warehouse and on-road. 

“FedEx was built on innovation, and it continues to be an integral part of our culture and business strategy,” said Rebecca Yeung, Vice President, Advanced Technology and Innovation, FedEx Corporation. “We are excited to collaborate with an industry leader like Nuro as we continue to explore the use of autonomous technologies within our operations.”


The changing role of couriers 

Unlike structured delivery networks, operating under long-term partnerships and contracts, agility is where couriers deliver true value - and their ability to deftly solve last-mile fulfilment has most acutely been felt during the pandemic. For the billions of people around the world forced to stay at home to protect themselves and their communities from the spreading COVID-19 virus, couriers have been a constant. They may have been the only knock at the door some people experienced for weeks or months at a time. 

But the last-mile has been uprooted by a boom in ecommerce, a shift that has been most apparent in the UK, US, China and Japan, according to the Global Parcel Delivery Market Insight Report 2021 by Apex Insight. These are markets with dominant economies and populations used to running their lives with a tap of a screen or double-click of a mouse. 

“Getting last mile delivery right has long been a challenge for retailers,” says Kees Jacobs, Vice President, Consumer Goods and Retail at Capgemini. “In 2019, 97% of retail organisations felt their last-mile delivery models were not sustainable for full-scale implementation across all locations. Despite increasing demand from customers, companies were struggling to make the last mile profitable and efficient.”

Jacobs says that the pandemic alleviated some of these stresses in the short term. With no other option, consumers were understanding and tolerant, if not entirely happy, with longer delivery times and less transparent tracking. “But, as extremely high delivery demand continues to be normal, customers will expect brands to contract their delivery times,” he adds. 

Last mile's role in ESG

Demand and volume weren’t the only things that have changed during the pandemic - businesses looked closer to home and as a result became more sustainable. Bricks and mortar stores were transformed from mini-showrooms to quasi-fulfilment centres. Online retailers and other businesses sought local solutions to ship more faster. In densely populated London, UK alone, Accenture found that delivery van emissions dropped by 17%, while Chicago, USA and Sydney, Australia saw similar emissions savings. 

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