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    Eric Ballantyne

    Senior Analyst at CBC

    Eric Ballantyne is a Senior Analyst at CBC, specializing in equity research and financial analysis within the Canadian market, with a particular focus on companies such as Royal Bank of Canada, Toronto-Dominion Bank, and Canadian Imperial Bank of Commerce. He has consistently delivered actionable research insights with a documented success rate exceeding 65% on his investment recommendations and is ranked in the top quartile of analysts on leading performance platforms. Ballantyne began his career as a financial analyst at Scotia Capital in 2013 before joining CBC in 2018, where he quickly advanced to his current senior role. A registered representative with FINRA and holder of a Chartered Financial Analyst (CFA) designation, he is known for his comprehensive sector expertise and notable contributions to CBC's investment research achievements.

    Eric Ballantyne's questions to HYSTER-YALE (HY) leadership

    Eric Ballantyne's questions to HYSTER-YALE (HY) leadership • Q2 2025

    Question

    Asked about the profitability mix of the current backlog, the specific components being impacted by tariffs from China and India, and the overall competitive landscape, including the rationality of competitors.

    Answer

    The company maintains strong pricing discipline and expects backlog profitability to be healthy, though tariffs create a temporary headwind. The main challenge is manufacturing absorption at lower volumes. Component sourcing is being shifted away from high-tariff countries, but this takes time, especially for items like castings where global capacity is concentrated in China. The competitive landscape is most disrupted by government-supported Chinese manufacturers, while traditional competitors remain largely rational.

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