Hyster-Yale (HY) risk factors, FY2024 10-K

Risks Related to Our Business and Operations

1. 01The Company is subject to risks relating to its global operations
2. 02matters may impose additional costs on the Company or expose the Company to new or additional risks. In addition, changes in the relative values of currencies occur from time to time and could affect the Company's operating results
3. 03Changes in existing free trade laws and regulations or tariffs could materially reduce the Company's profitability
4. 04The cost of raw materials used by the Company's products has fluctuated and may continue to fluctuate, which could materially reduce the Company's profitability
5. 05The Company depends on a limited number of suppliers for specific critical components
6. 06Failure to compete effectively within the Company's industry could result in a significant decrease in revenues and profitability
7. 07The Company’s products and services may be affected from time to time by design and manufacturing defects or new technologies that could materially adversely affect the Company’s business and result in harm to the Company’s reputation
8. 08If the Company's strategic initiatives, including the introduction of new products, do not prove effective, revenues, profitability and market share could be significantly reduced
9. 09The lift truck business is cyclical. Any downturn in the general economy could result in significant decreases in the Company's revenue and profitability and an inability to sustain or grow the business
10. 10The pricing and costs of the Company's products have been and may continue to be impacted by currency fluctuations, which could materially increase costs, and result in material exchange losses and reduce operating margins
11. 11If the global capital goods market declines, the cost saving efforts the Company has implemented may not be sufficient to achieve the benefits expected
12. 12The Company may not be successful in commercializing Nuvera’s technology, which success would depend, in part, on the Company’s ability to protect Nuvera’s intellectual property
13. 13Other products may be introduced to the market by competitors, making the Nuvera technology less marketable

Risks Related to Cybersecurity

1. 14Security breaches with respect to the Company’s products could interfere with its business, dealers, and customers, exposing it to liability that would cause its business and reputation to suffer

Risks Related to Legal and Regulatory Matters

1. 15The Company is subject to import and export controls, which could subject the Company to liability or impair the Company's ability to compete in international markets
2. 16Actual liabilities relating to pending lawsuits may exceed the Company's expectations
3. 17Actual liabilities relating to environmental matters may exceed the Company's expectations
4. 18The Company may become subject to claims under non-U.S. laws and regulations, which may require expensive, time-consuming and distracting litigation

Risks Related to Key Personnel and Ownership

1. 19The Company is dependent on key personnel, and the loss of these key personnel could significantly reduce profitability
2. 20Certain members of the Company’s extended founding family own a substantial amount of its Class A and Class B common stock and, if they were to act in concert, could control the outcome of director elections and other stockholder votes on significant corporate actions
3. 21The Company’s stock repurchase program could affect the price of its Class A common stock and increase volatility and may not enhance long-term shareholder value

Risks Related to Financing

1. 22The Company is subject to recourse or repurchase obligations with respect to the financing arrangements of some of its customers
2. 23The Company may be unable to fund its operations at competitive rates, on commercially reasonable terms or in sufficient amounts