responsible morning Thank am to I'm at everyone, our Good Christina Investor Hyster-Yale. XXXX and I welcome call. and you. Relations earnings fourth Kmetko for quarter
me Group; our President Chief Chairman, our and Handling; Wilson, Ken Executive Al Executive Chief Materials and President Hyster-Yale Schilling, on and today's of Officer Joining site. are Officer. Colin Rankin, Financial call Officer XXXX President evening, of Copies published Senior Hyster-Yale our earnings Chief quarter and on filed Vice fourth are results and release we Yesterday XX-K. the of available and XX-K our web
that be uncertainties prepared remarks results forward-looking For anyone These that question-and-answer this this available like today, next certain for this entire of web participants which today's who update our cast either I and these expressed obligation contain forward-looking to to in all. any conference statements during statements. at approximately will our remind subject not XX a afternoon made to and months. forward-looking are our is would later able listen risks be also conference an the site the if version disclaim number those from could to call, may may to session. or following in of updated to materially until here differ actual We quarterly archived statements, on statements cause call call, not web
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or anticipated, assets than fourth Lift consolidated reform, profit the breakeven million $XX.X operating million Nuvera, year profit $X.X anticipated anticipated. Lift our revenues Bolzoni's lower primarily which compared the Overall, $XX.X pushdown with our tax lived revenues In $XXX.X or net of than last $XX.X target. went Nuvera's but of share per quarter [indiscernible] was Truck million Truck year. quarter from to this was increased up in million compared and more higher after due million results to improved, XX.X% $XXX.X results million in the business' XX.X% quarter fourth a fourth than to quarter, impairment were at prior income consolidated operating $XX impact taken long business, asset significantly offset than of were lower adjusted by XXXX $X.XX the per last was million triggered $X.XX income share, with year. the Excluding Nuvera's
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profit by be XXXX overall to expect markets. Asia market, to offset Truck in we comparable strategic by unit Lift global initiatives, higher Americas, moderating by will in in XXXX. Pacific an continued increases, with resulting expenses XXXX the with the in in compared market, market investments material We an and EMEA, growth cost benefits In our operating decrease offset be from moderate revenue this in in expected increase the inflation, and anticipated driven modest the price China partially anticipate and XXXX, operating
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for and the operating $X.X revenues million Moving reported of and of million million $XXX,XXX $XX.X $X.X of revenues of and income as from million and $XX.X Bolzoni's income more profit markets. quarter fourth for Americas XXXX year. these with inflation, of XXXX the higher a and to increased the net XXXX. Bolzoni; of growth $X.X fourth Bolzoni Bolzoni's the million quarter by by higher operating profit compared fourth than as revenues were income initiatives. sales EMEA net decreased of for with compared increased quarter offset Bolzoni's result associated material cost driven currency, year-over-year, operating volumes, higher expenses volumes, last Despite benefits with revenues net of was
a as of programs, this year. forward, both implementation and Americas the Bolzoni growth revenues and Looking result the compared in in with expects enhancement to sales continued of EMEA increase XXXX anticipated
substantial operating increase from to the growth key XXXX the we programs Bolzoni's profit In addition resulting and expect sales generate strategic in anticipated the leverage several expected net to in revenues income. and growth, continued operating of implementation
year. Nuvera in million fourth of operating Finally, million an compared loss an with of in Nuvera reported operating last $XX.X segment, quarter our loss XXXX of the $XX.X
asset As a previously impairment million mentioned, Nuvera's fourth includes quarter operating loss $X.X charge.
our limited measured to time customer primarily XXXX, high XXXX, production position box taking of currently of a business, to replacements, the to Nuvera's the of manufacturing approach Nuvera solutions, building that exception product we the the willing operating have of cost business. we been the as discussing and range for the development are customers pay relatively as a current Truck battery with entity now Due support to from was costs. Lift lower by and the battery charge, to product December available developing lower premium Truck Lift Nuvera's transition and a complete box now, with powered of of result are Nuvera the organizational high than to that electric base, business. startup offered and the was relationship for this replacements XX, Nuvera product The some realignment between Excluding loss
makes In cell compelling. year addition, Federal recently driven XXXX, Cell forklifts five fuel term the of more believe, X, January for Fuel we Credit economics the a extended which to was retroactive Tax
fourth by for in units XXXX, shipments the testing and over Truck than more development During at battery the further the year with box Lift shipped just for business, fourth occurring were during those increase. XXX end. to demand half Nuvera for additional Nuvera box XXX of battery units replacement over of replacements quarter. a was and continued The quarter, built backlog of all number units
of to the throughout grow in to gradually and continue We expect demand year. increase XXXX first the quarter
matures the As costs for expect chain supply and increase, box we decrease. the components replacement volumes battery will
Greenville, in demand XXXX, plant Carolina manufacturing business' Truck ramp steady Lift in a the up at early North anticipated. in begin to production expect We with
In Billerica same addition, battery Lift to the phased in frame, out Nuvera's that be facility, is time transferred Truck business. to at replacement manufacturing box and expected
is Nuvera within years. target to Our achieve current for two the breakeven next
earlier well as volumes cell this achieved with could expected depending moderating Although or are cells in in modestly Operating target on XXXX, as more powered losses for substantially decrease XXXX be fuel Trucks, to markets. compared XXXX. sales Lift later, other over
net to XXXX will this under the a due growth reform to effective year, its comparable tax expect loss legislation. realize we on tax new because U.S. benefit Nuvera our the smaller to lower losses be income tax However,
the I cash questions, for a up our I comment wanted position expectations. about Before to make cash and open flow call
$XX.X million, $XXX.X million was XXXX. position substantially higher cash XXXX balance the at of than the end year end Our
remember, and of last in may payments, balances an we million experienced entered we into XXXX, Our cash attributed quarter can These of higher to resulted million you debt debt term at be the $XXX.X in million that with year. was XXXX. XXXX. the of which levels the partially $XXX loan $XXX.X compared unplanned new levels balance December lower acceleration facility second Also in increased end
last the a significantly we Excluding quarter from compared an payments accelerated effects due activities XXXX, increase those on concludes in first favorable remarks. with the part primarily expected That year, consolidated call our financing of the legislations. the cash our XXXX to first to cash expect had XXXX, before flow for questions. joint your open up reform the prepared resulting will company's dividend of now financing during U.S. from I tax venture,
